Moscow | Reuters — Russia, one of the world’s leading wheat exporters, will probably not extend a tax on wheat exports, imposed until June 30, if optimism over lower inflation and a large crop persists among officials, SovEcon consultancy said. Russia’s economy has been hit hard by low global oil prices and Western sanctions due […] Read more
Russia seen removing wheat tax in July if inflation slows
Dreyfus’ commodities business posts higher 2014 profit
Paris | Reuters — Global trading group Louis Dreyfus Commodities reported a rise in full-year profit on Thursday as increased volumes and healthy processing margins helped offset lower market prices. Louis Dreyfus is one of the “ABCD” quartet of companies, alongside Archer Daniels Midland, Bunge and Cargill, that dominates agricultural commodity trading. The 164-year-old family-owned […] Read more
ConAgra reports better-than-expected profit
Reuters — ConAgra Foods, the maker of Slim Jim beef jerky and Chef Boyardee pasta, reported a higher-than-expected quarterly profit due to cost cuts and the company raised its full-year earnings forecast. ConAgra, like other processed food companies, has been cutting costs as consumers shift to foods that are perceived as healthier, such as organic […] Read more
U.S. hopes to wrap up Pacific trade deal, fast-track soon
Washington | Reuters –– U.S. Trade Representative Michael Froman said on Thursday a Pacific trade agreement can be wrapped up in months and urged lawmakers to quickly move ahead with key trade legislation. Froman said although there was no firm deadline to conclude the 12-nation Trans-Pacific Partnership, “we do feel that we can close this […] Read more
Transport Canada seeks CN safety plan after derailments
Toronto | Reuters — Regulator Transport Canada has issued a notice to Canadian National Railway (CN) requesting a plan to ensure safety along its main line’s Ruel subdivision, where three trains derailed in fewer than 30 days in February and March, the railway said Wednesday. The notice, given on March 12 but not previously reported, was […] Read more
CN says harsh winter one reason for spike in 2014 accidents
Ottawa | Reuters — An unusually harsh winter is one of the reasons Canadian National Railway (CN) suffered a sharp increase in the number of train accidents in 2014, a top official said Tuesday. Chief operating officer Jim Vena told a committee of federal legislators that deep cold can cause rails and wheels to crack. […] Read more
DuPont investors to vote on activist firm’s demands in May
Reuters — DuPont, embroiled in a proxy war with activist investor Trian Fund Management LP for board seats, said it would hold its annual shareholder meeting on May 13. Trian is seeking four seats on DuPont’s board, including one for its CEO Nelson Peltz, to help it force the company to split into two. DuPont […] Read more
Andersons shares up after report hints Glencore interest
Reuters — Shares of U.S.-based agribusiness Andersons Inc. jumped more than six per cent on Friday, outpacing the sector, after a Bloomberg News report speculated that Glencore could be interested in acquiring the company. The story mentioned Glencore’s interest in expanding its agricultural assets and named Ohio-based Andersons as well as privately held companies Scoular […] Read more
Britain backs Zimbabwe to help rural farmers
Harare | Reuters — Britain has given Zimbabwe about C$92 million to help increase food production by rural farmers over the next four years, as the southern African country faces the prospect of poorer harvests this year due to inadequate rains. Once the breadbasket of the region, Zimbabwe has since 2000 struggled to feed its […] Read more
U.S. reports low-path H7N3 bird flu in California
Paris | Reuters –– The United States has reported a mild form of bird flu on a turkey farm in California, the World Organisztion for Animal Health (OIE) said Wednesday, the latest in a series of outbreaks to hit the U.S. poultry industry in recent months. The U.S. Department of Agriculture said in a report […] Read more
Cyber-Savvy Farmer
