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Bunge’s refined and specialty oils segment turned in stronger quarterly earnings in the Americas and Europe. Photo: Thinkstock
Reuters

Crop merchant Bunge raises full-year profit outlook

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Agricultural commodities trader Bunge Ltd BG.N on Wednesday raised its full-year earnings outlook after posting an adjusted third-quarter profit that topped expectations, sending its shares up about 2 per cent in premarket trading. The improved forecast was attributed to favorable market conditions as tight global crop supplies and strong demand have benefited supply chain middlemen […] Read more
(BungeMOE.com)
Crops, Reuters

Bunge to sell oilseed processing business in Russia

Grain firms scaling back Russian business

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Reuters — Agricultural commodities trader Bunge said Monday it has agreed to sell its oilseed processing business in Russia to Karen Vanetsyan, the controlling shareholder of Exoil Group. The sale includes the sunflower processing plant in Voronezh. Bunge and its rivals ADM, Cargill and Louis Dreyfus — part of the so-called ABCD quartet of global […] Read more
Then-federal Agriculture Minister Gerry Ritz (second from right) announces G3’s plan to take a majority stake in CWB in April 2015 in Winnipeg. (Dave Bedard photo)
Crops

Farmers’ CWB class action lawsuit gets certified

Suit claims federal government wrongly used farmers' money to help privatize the Wheat Board

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A class action lawsuit alleging the government of Canada and G3 Canada Ltd. unlawfully used millions of farmer dollars to privatize the Canadian Wheat Board (CWB) has been certified after wending its way through the courts for 10 years. Court of Queen’s Bench Justice Chris Martin delivered his written judgment Tuesday in Winnipeg, clearing the […] Read more
(Dave Bedard photo)
Crops, Reuters

Bunge says sanctions may have ‘adverse effect’ on Russian operations

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Reuters — Global agricultural commodities trader Bunge said continued conflict in Ukraine and stinging sanctions on Russia could have an “adverse effect” on its operations in the breadbasket region. Bunge and rival agribusinesses ADM and Cargill suspended operations in Ukraine last week after Russia invaded its neighbour. But none have stopped their business in Russia […] Read more
Photo: iStock/Getty Images
Markets, Reuters

Bunge raises 2021 profit outlook on higher food, renewable fuel demand

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Bunge Ltd reported stronger-than-expected third-quarter results and raised its full-year profit outlook on Wednesday for a third time this year amid improved demand for food and renewable fuel as pandemic restrictions have eased. Although volumes in the U.S. agricultural commodities trader’s core agribusiness and its refined and specialty oils units were down, robust oilseed processing […] Read more
(LDC video screengrab via YouTube)
Crops, Markets, Reuters, Soybeans

Dreyfus, others shut soy crushers in China on power curbs

'Cash is on fire'

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Beijing | Reuters — Soymeal prices in China, the world’s top consumer of the animal feed ingredient, are rising after at least 20 soybean crushing plants shuttered to comply with curbs on industrial power consumption, industry participants said on Friday. Five crushing plants in the northern city of Tianjin closed this week, said Tianfeng Futures […] Read more
CBOT July 2021 corn (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange, dark green lines). (Barchart)
Crops, Markets, Reuters

U.S. grains: Corn tops $7 for first time since 2013 in most-active contract

High corn prices are not destroying demand, Bunge CEO says

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Chicago | Reuters — U.S. corn futures on Tuesday topped US$7 a bushel in the most-active contract for the first time since 2013 as unfavourably dry crop weather in Brazil kept attention on tightening global supplies. Surging prices have done little to curb robust demand for corn used to feed livestock and produce ethanol, opening […] Read more
(Dave Bedard photo)
Crops, Markets, Reuters

Bunge lifts outlook as quarterly profit nearly doubles

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Reuters — Agricultural commodities trader Bunge Ltd. raised its 2020 outlook after reporting a 91 per cent jump in adjusted third-quarter profit on Wednesday, as strong soy processing margins and robust demand for soy products boosted its core agribusiness segment. Bunge shares rose almost seven per cent to their highest level in more than a […] Read more
Artist’s rendering of the Merit Functional Foods plant under construction in Winnipeg. (Merit Foods graphic)
Canola, Crops, Peas

Bunge buys into canola, pea protein maker Merit

Agribusiness giant takes quarter stake in processor

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One of the world’s biggest grain companies is getting in on a processing facility under construction in Winnipeg to extract plant-based proteins from canola and peas. Winnipeg-based Merit Functional Foods announced Thursday it has received a $30 million “capital investment” from Bunge, giving the U.S. grain firm a “minority interest” worth 25 per cent. Burcon […] Read more
Photo: iStock/Getty Images
Markets, Reuters

Bunge raises outlook as agribusiness profits beat Wall Street estimates

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Reuters – Agricultural commodities trader Bunge Ltd on Wednesday raised its full-year outlook after its second-quarter profit handily beat Wall Street estimates, sending shares up more than 5 percent in premarket trading. Despite a worsening coronavirus pandemic that has rattled global markets, strong soy processing margins in South America, Europe and Asia and accelerated crop […] Read more

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