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Shares of North American agricultural companies, from fertilizer makers to grain handlers, will likely surge this year as weather-related crop damage causes global food price inflation.
Potash Corp. shares in New York have shot up more than 20 percent since mid-December to about $168, far exceeding the $130 per share offer it rejected last year in a hostile takeover bid by BHP Billiton. Get the full story »
From The Bismarck Tribune | Decatur-based agricultural processor Archer Daniels Midland has applied for an industrial zoning permit to build a concrete grain elevator and private railroad loop near Hebron, N.D., that allows 110 cars to be loaded with grain for market.
DuPont Co. says it is buying Danish food ingredients maker Danisco A/S for $5.8 billion as it looks to broaden its food and biofuels operations. The deal has a total value of $6.3 billion, which includes the assumption of $500 million in debt. Get the full story »
CF Industries Holdings Inc. has agreed to sell four dry fertilizer warehouses to a regional agriculture cooperative, the company said Thursday.
The fertilizer supplier, based in Deerfield, said the space is no longer needed because more dry fertilizer is being shipped directly from factories to consumers. Get the full story »
Archer Daniels Midland Co., the world’s largest corn processor and one of the largest U.S. ethanol producers, said in a statement Tuesday that it had acquired the outstanding capital stock of Alimenta (USA) Inc. to control 100 percent of Golden Peanut Co. LLC. Golden Peanut, which processes and exports peanuts, peanut oil and peanut-derived ingredients, is based in Alpharetta, Ga. Get the full story »
A beekeeper stirs honey at an apiary near Wuhan of Hubei Province, China. (China Photos/Getty Images)
Honey companies and importers are launching a program in January to try to stop the flow of illegally sourced honey from coming into the country.
The True Source Honey Initiative is an effort by a handful of producers and importers looking to certify the origin and purity of the honey sold to U.S. consumers in jars and products such as cereals, snacks and glazes. Get the full story »
Grain prices, already at two-year highs, are set to rise further this year before normalising in 2012 as the higher prices prompt farmers to plant more, the head of agribusiness giant Bunge told the Financial Times.
“For the next 12 months I think you will see volatility of prices,” Alberto Weisser said in an interview published on Wednesday. Grain prices rallied in 2010 after poor harvests in Russia and Australia. Get the full story »
The U.S. Food and Drug Administration has dropped Archer Daniels Midland’s canola crushing plant in Windsor, Ontario from its list of plants that are under import restrictions due to salmonella concerns, according to an update on the regulator’s website on Tuesday. Get the full story »
By Monica Eng | The Food and Drug Administration issued a warning Monday for consumers to avoid alfalfa sprouts and spicy sprouts that were grown on a farm in Urbana, Ill., because of a suspected link to salmonella. Get the full story »
The Rogers International Commodity Index will cut its Chicago Board of Trade wheat holdings while boosting its investment in rice in January.
Rogers will reduce the weight of CBOT wheat in its index to 4.75 percent from 6 percent, it said in a statement released on Monday morning. Its rice weighting will rise to 0.75 percent from 0.50 percent. Get the full story »
U.S. automakers and engine makers sued the Environmental Protection Agency Monday over its decision to allow higher blends of ethanol for newer cars, saying it could cause confusion at the pumps and damage engines in older vehicles.
The suit asks the U.S. Court of Appeals for the District of Columbia Circuit to send the decision back to the EPA and asks the court to review whether the decision violates the Clean Air Act. Get the full story »
A Russian billionaire set the terms on Monday for a merger of Russia’s top two producers of potash, Uralkali and Silvinit to create the world’s No. 2 player.
The deal marks another step in consolidation in the global potash business, where a battle for dominance spurred BHP Billiton’s attempt to take over Potash Corp., which ultimately failed. Get the full story »
Deere & Co., the world’s largest maker of agricultural equipment, will invest $50 million in a new manufacturing plant in China to make construction equipment. Get the full story »
Large speculators cut back on their bearish exposure to U.S. grain futures as an unexpected holiday season rally forced traders to cover short positions. Get the full story »
Corn Products International Inc., which refines corn for use in food and industrial products, said Tuesday it plans to invest $75 million to $100 million over the next several years in its Brazilian business. Get the full story »
