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(AGCanada.com, Bunge.com photos)
Crops, Reuters

Glencore approaches Bunge on possible takeover

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Reuters — Glencore Plc said on Tuesday its agricultural unit has made an informal approach to commodities trader Bunge Ltd. about a “possible consensual business combination,” the company said in a statement. The commodities trading firm did not say more about a potential offer that its Glencore Agriculture unit made to Bunge. Glencore, whose Canadian […] Read more
Gavilon Grain has sold its facility at Grand Forks, N.D. to Viterra. (Gavilon.com)
Crops

Viterra buys North Dakota elevator

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Prairie grain handler Viterra is expanding its reach in eastern North Dakota with a deal for Gavilon Grain’s elevator at Grand Forks. Regina-based Viterra said Monday it has closed its acquisition of Omaha-based Gavilon’s Grand Forks site for an undisclosed sum, and plans “immediate capital upgrades” for the elevator. The Grand Forks site, which was […] Read more
(Dave Bedard photo)
Crops, Reuters

U.S. agribusiness deal not a priority for Glencore

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Lausanne | Reuters — Glencore does not see further consolidation in agricultural commodities as straightforward and views a U.S. acquisition as less crucial than in the past, the group’s agriculture chief said Tuesday. The diversified trading and mining group had pointed to the possibility of making bolt-on acquisitions after posting improved results for 2016 and […] Read more
(Dave Bedard photo)
Crops

Viterra results offset Glencore’s improved year-end

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Commodity giant Glencore’s efforts to ratchet down its debts paid off in fiscal 2016 — though “challenges” weighed on the ledger for its Viterra grain handling arm. Swiss-based Glencore on Thursday released preliminary results for 2016, booking net income attributable to equity holders of $1.379 billion on $152.948 billion in revenues, up from an $8.114 […] Read more
Vegreville’s giant pysanka is a well known landmark in eastern Alberta. (Vegreville.com)
Crops

Viterra plans new eastern Alberta elevator

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Glencore’s Prairie grain handling arm Viterra plans to stake a new claim in the northeastern Alberta market with a new high-throughput elevator at Vegreville. The company announced Monday it has picked up the necessary regulatory approvals and expects to start construction along Canadian National Railway (CN) track this spring. The elevator is expected to have […] Read more
Rail cars arrive at Glencore’s Puerto Prodeco coal depository in Colombia. (Glencore.com)
Crops, Reuters

Glencore sees renewables not cost competitive until mid-century

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London | Reuters — Renewable energy will not be cost competitive with fossil fuels until 2050, Glencore said on Tuesday, much later than energy organizations forecast and supporting the mining and trading giant’s case for continued investment in coal. Glencore, whose non-mining holdings include Canadian grain handler Viterra, has said coal is still an investment […] Read more
(Dave Bedard photo)
Crops

Viterra plans new elevator in eastern Saskatchewan

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Glencore’s Prairie grain handling arm Viterra plans to boost its throughput capacity in east-central Saskatchewan with a new elevator at Wadena. Wadena, served by both Canadian National and Canadian Pacific Railways (CN, CP), already has a smaller Viterra elevator on each line. The two former Saskatchewan Wheat Pool elevators have capacity for 5,020 and 4,000 […] Read more
(Photo courtesy Canada Beef Inc.)
Crops

Saskatchewan farmers to launch ag retail chain

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A Saskatchewan family farm and seed retailing operation is set to become the home base for a new chain of crop input and seed retail stores. Brad Hanmer, who farms and operates Hanmer Seeds at Govan, Sask., about 100 km north of Regina, on Wednesday announced the launch of SynergyAG, which plans to open four […] Read more

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