GFM Network News



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Cargill, Continental Grain to buy chicken producer Sanderson Farms for $4.5 bln

Reuters – Commodities trader Cargill Inc and agricultural investor Continental Grain Co will buy chicken producer Sanderson Farms Inc for $4.53 billion, the companies said on Monday, at a time when meat prices have been soaring due to strong demand. The deal would see Sanderson Farms, the third-largest poultry producer in the United States, join […] Read more


The logo and trading info for Corteva Agriscience displayed on the New York Stock Exchange in New York.  Photo: Reuters/Brendan McDermid

Corteva lifts sales forecast on strong demand for crop protection products, seeds

Reuters – Corteva Inc on Thursday raised its net sales forecast for the year after strong demand for crop protection products such as herbicides and insecticides helped the agricultural company beat estimates for the second quarter. Corteva also announced a new $1.5 billion share repurchase program, in addition to a $1 billion buyback announced in 2019, […] Read more

Photo: Bayer

Bayer Q2 misses forecasts as costs, forex effects bite

Frankfurt | Reuters – Bayer shares fell to their lowest levels in more than seven months after the German agricultural and pharmaceuticals group reported lower-than-expected second-quarter core earnings due to higher production costs and currency headwinds. Second-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) before special items fell 10.6 percent to 2.58 billion euros ($3.05 billion), […] Read more


Photo: CNH Industrial

CNH Industrial guides for revenue fall up to 20 per cent

Milan | Reuters – Vehicle and equipment maker CNH Industrial posted a narrower-than-expected second quarter loss on Thursday and forecast net sales from industrial activities would fall between 15-20 percent this year, as a consequence of the COIVD-19 epidemic. In March the group, which is controlled by Exor, the holding company of Italy’s Agnelli family, […] Read more




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Bunge raises outlook as agribusiness profits beat Wall Street estimates

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


(Dave Bedard photo)

Feds proposing to expand wage subsidy program

Ottawa | Reuters — The Canadian government wants to expand an emergency wage subsidy program so that all businesses suffering losses from the COVID-19 outbreak will benefit, Finance Minister Bill Morneau said on Friday. Morneau told a news conference that Ottawa would drop an earlier requirement stipulating that businesses needed to show a 30 per […] Read more