June 17, 2016

17/06/2016: Oilseed & Grain news

Glencore sells 10 percent stake to Canada's fourth largest pension fund
British Columbia Investment Management Corp. will soon own a 9.99 percent stake in Glencore’s agricultural unit, as the trader continues to sell off assets to reduce debt.

COFCO continues aggressive North American push with Winnipeg trade office
China’s state-owned agricultural trader, COFCO Agri, will join other traders, including Cargill and Richardson International when it opens a new trade office in Winnipeg.

MFA companies building US$30M grain shuttle facility
MFA is making its largest capital investment in a single project to date for the construction a new grain shuttle facility in Caldwell County, Missouri.

Monsanto develops strategy for GM soybeans lacking EU approval
The EU has yet to grant regulatory approval to Monsanto’s Xtend soybeans, and the company is working with leaders within the farming sector on a plan to keep the soybeans out of EU markets if approval does not happen prior to the beginning of harvest in August.

Effingham equity agrees to buy Coshocton Grain Company assets
The sale includes a grain shuttle loading location and grain truck houses although CGC will retain its ownership of its remaining grain assets located in Ohio.

FAO predicts significant jump in US and China wheat stocks
The UN's FAO expects global wheat prices to remain ‘broadly stable’ in 2016 as demand will not be able to match available supply.
      
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Image: Dan Gaken
Cornell University testing advanced barley strains to meet craft beer demand
By 2024, 90 percent of ingredients used by New York-based brewers and distillers will be required to be sourced from within the state, however, current popular barley varieties are not well-suited to the state’s climate.

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