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Tag Archives Glencore

Crops

‘Glencore Agriculture’ to adopt Viterra brand

Worldwide ag business to rebrand later this year

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A trademark that Swiss commodity firm Glencore picked up when it bought its way into Prairie agriculture is about to become the global brand for its agribusiness offspring. David Mattiske, CEO of Glencore Agriculture, announced in a statement Wednesday the company will rebrand the business to Viterra in “late 2020.” The Viterra brand dates back […] Read more
Barley, Crops, Markets, Reuters

Glencore’s head barley trader leaves post

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Paris | Reuters –– Glencore Agriculture removed head barley trader Mathieu Kleine from his post last week, market sources familiar with the matter said. The grain merchant, which is part owned by diversified commodity group Glencore, dismissed Kleine due to disappointing results, two of the sources said. It was not clear if Kleine was still […] Read more
Crops

Grain trade regional tie-ups seen more likely over mega-deals

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Paris | Reuters — The agricultural trading industry can expect more consolidation at a regional level in an effort to improve margins, but big deals between global merchants are becoming more difficult, Louis Dreyfus’ CEO said. Merchants have been grappling with lower profits from sourcing and shipping commodities such as grain and oilseeds, prompting cutbacks […] Read more
Crops, Markets, Reuters

Bunge names acting CEO, cuts 2018 guidance

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Reuters — Global grains trader Bunge appointed one of a slew of new board members as its acting CEO on Tuesday and cut its 2018 earnings forecast as the U.S.-China trade war battered soybean prices and devalued the company’s inventory in Brazil. Gregory Heckman, a founding partner of private investment firm Flatwater Partners and former […] Read more
Crops, Reuters

Bunge CEO Schroder to step down amid investor pressure

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Reuters — Bunge CEO Soren Schroder is stepping down after five years at the helm of the global agribusiness, following months of pressure from shareholders to shake up the company amid a prolonged grain market slump. The management change is the latest event to rattle the two-century-old commodities trader after a stretch of particularly weak […] Read more
Crops, Machinery

Gardiner Dam Terminal set to go full Viterra

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The farmers who own half of central Saskatchewan’s Gardiner Dam Terminal have reached a deal to sell their half to their business partner and wind up the company. Glencore Agriculture’s Viterra arm announced Friday it will buy the half of GDT it doesn’t already own and take over operation of the GDT inland grain terminal […] Read more
Crops, Markets, Reuters

ADM in talks to buy Bunge as early as this week

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Reuters — Top U.S. grains merchant Archer Daniels Midland could reach an agreement to buy smaller rival Bunge as early as this week, Bloomberg reported on Monday, citing unnamed sources familiar with the matter. The potential deal comes as large grain traders that make money by buying, selling, storing and shipping commodity crops have struggled […] Read more
Crops, Reuters

ADM reported making takeover approach to Bunge

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Reuters — Top U.S. grains merchant Archer Daniels Midland has proposed a takeover of Bunge Ltd., the Wall Street Journal reported on Friday, a move that could set up a battle for Bunge with London-based rival Glencore. Large grain traders which make money by buying, selling, storing, shipping and trading crops have struggled in recent […] Read more

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