Fri, Nov. 11, 10:41 AM
- A stronger dollar relative to South American currencies, plus any changes to trade deals are likely to negatively impact the agricultural sector, says JPMorgan's Ann Duignan.
- In addition, leading candidates to head the Dept. of Agriculture - Rick Perry and diary exec Mike McCloskey - aren't "particularly sympathetic" to price-boosting policies (where's "Senator Ethanol" when ADM needs him?).
- Duignan downgrades to Underweight, and cuts the price target to $36 from $42.
- ADM -6.7% to $42.14.
- Related: Bunge (BG -4%)
Wed, Nov. 2, 12:00 PM
Wed, Nov. 2, 10:51 AM
- Bunge (BG +7.5%) is surging despite reporting weaker than expected Q3 earnings, largely attributed to sluggish crop sales by Brazilian farmers, as CEO Soren Schroder says “a solid fourth quarter is in sight and we expect significant growth in 2017."
- Bunge believes South American farmers’ reluctance to part with corn and soybeans at current low prices will be countered by the glut of grain being brought off farms in the U.S. and Canada, bolstering its shipping and processing businesses.
- Schroder says he expects “a significant uptick” in 2017 earnings as conditions in South America return to normal and the company’s own cost-cutting efforts, which include ~$125M in improvements this year, take effect.
Wed, Nov. 2, 6:02 AM
Tue, Nov. 1, 5:30 PM
- ABC, ADP, AGN, ALKS, AMSC, ANTM, ARCC, ARCO, ASC, BABA, BAH, BDC, BG, BTE, CBB, CCJ, CDK, CDW, CEVA, CLH, CLX, CRL, CRTO, CSTE, DLPH, DNOW, DOC, EE, EL, EMES, FLWS, FUN, GLDD, GPT, HCN, HEP, HSIC, HST, HYH, INGR, INXN, IPI, JLL, KATE, MMP, MNTA, MVIS, NRZ, NS, NSM, NVMI, NWN, NYT, ODP, OMAM, ORBC, ORBK, OZM, PCRX, Q, SABR, SBGI, SE, SEP, SHOP, SJR, SNAK, SNR, SRE, STE, STWD, SUM, TEL, TGNA, TMHC, TOWR, TRP, TWX, VER, VMC, VOYA, VSI, WD, YELP, ZTS
Fri, Sep. 30, 7:26 AM
- Bunge Agribusiness Singapore Pte Ltd. a wholly owned subsidiary of Bunge Limited (NYSE:BG) and Oleo-Fats, Inc., a wholly owned subsidiary of D&L Industries (OTCPK:DLNDY) have entered into distribution agreements.
- OFI will become Bunge's exclusive commercial partner to import, market, sell and distribute packaged softseed oils into Philippines. Bunge will become OFI's exclusive commercial partner to export, market, sell and distribute coconut oil under its Farm Origin brand into countries in the Asia-Pacific region.
- Added Aaron Buettner, Global Head of Oils, Bunge Limited. "By leveraging OFI's capabilities in Philippines and their relationships with customers including quick service restaurant chains, snack food manufacturers, biscuit and confectionery manufacturers, industrial bakeries, and hotels, restaurants and caterers, Bunge will be able to fully participate in an important and growing destination market. We also look forward to being able to provide coconut oil supplied by OFI as part of our Farm Origin portfolio. This is a premium oil that fits well with our other offerings for retail and foodservice in the Asia-Pacific region."
- Press Release
Wed, Aug. 10, 5:19 PM
Thu, Jul. 28, 6:17 AM
Wed, Jul. 27, 5:30 PM
- AB, ABMD, ACIW, ACOR, ADP, AEP, ALKS, ALLE, ALXN, AMT, APD, ARIA, AZN, BC, BCC, BCO, BCOR, BEN, BG, BGCP, BHI, BMS, BMY, BSX, BWA, BWEN, BZH, CAB, CBG, CBM, CELG, CFX, CIT, CL, CLF, CLFD, CME, CMS, COMM, COP, COR, CRR, CRS, CS, CSH, CVI, CVRR, CWT, DBD, DFT, DLX, DOW, DSX, EME, EPD, EQM, EQT, EXLS, F, FCFS, FCN, FI, FIG, FITB, FLY, FSS, GLOP, GNC, GOV, GPI, GPN, GRUB, GTLS, HCA, HEES, HOG, HP, HSY, HTH, IART, IDA, IGT, INCR, INGR, IP, IPGP, IRDM, ITC, ITG, IVC, IVZ, KEM, LAD, LAZ, LDOS, LEA, LKQ, LLL, LPG, MA, MCS, MD, MDP, MDWD, MINI, MITK, MJN, MKTX, MMC, MNRO, MPC, MPLX, MSCI, MTH, MTRN, MVIS, NAP, NEWM, NICE, NMR, NOV, NTCT, NYT, OAK, ODFL, ORI, OSK, PAG, PCG, PES, PF, PJC, PNR, POT, PRLB, PTEN, PX, RDN, RDS.A, RPM, RTN, SCG, SEE, SERV, SFE, SPB, SPGI, SQBG, SQNS, STNG, SXC, SXCP, TCK, TFX, TGI, THRM, TKR, TMO, TPX, TREE, TRI, TZOO, UAN, UBSI, UTHR, VC, VGR, VIVO, VNTV, WCC, WILN, WRLD, WST, WWE, YNDX, ZBH
Tue, Jul. 5, 12:42 PM
- Bunge (BG -1.2%) agrees to sell half its stake in oilseed crushing operations in Vietnam to Singapore's Wilmar International (OTCPK:WLMIF), the world's largest palm oil processor and one of the biggest soybean buyers, for an undisclosed sum.
- The sale creates a three-party joint venture with BG and Wilmar as equal 45% shareholders and Vietnam's Quang Dung retaining its existing 10% stake in the operations.
- BG says the deal will "create increased operating, marketing and logistics synergie," and will help the company "remain a low-cost operator with the highest efficiency possible."
Thu, Jun. 9, 5:36 PM
Fri, Jun. 3, 5:36 PM
Tue, May 24, 4:41 PM
- Bunge (NYSE:BG) declares $0.42/share quarterly dividend, 10.5% increase from prior dividend of $0.38.
- Forward yield 2.61%
- Payable Sept. 2; for shareholders of record Aug. 19; ex-div Aug. 17.
Fri, May 20, 9:17 AM
- Bunge (NYSE:BG) says CFO Drew Burke plans to retire effective Dec. 31.
- BG says it expects to name a successor before year-end and is conducting a search that will consider both internal and external candidates.
- Burke joined BG in 2002 and was named CFO in February 2011.
Mon, May 2, 6:53 PM
- U.S. grain companies plan to reject Monsanto's (NYSE:MON) new genetically modified soybeans due to concerns that they could disrupt international trade without a key regulatory approval from the European Union, Dow Jones reports.
- Trade groups representing Cargill, Archer Daniels Midland (NYSE:ADM), Bunge (NYSE:BG) and other grain companies criticized MON's decision to sell the seeds before first securing an approval required to ship the crops to the EU, according to a letter reviewed by WSJ.
- The grain companies' stance is a potential blow to MON's new Roundup Ready 2 Xtend soybean seeds that MON has touted as a blockbuster for U.S. farm fields with hopes of selling ~3M acres' worth of the product to U.S. farmers this spring.
- Now read Monsanto, scientists claim breakthrough in battle against GMO crop pests
Thu, Apr. 28, 2:54 PM
- Poor weather in South America has damaged the quality and quantity of corn and soybeans grown there, which should lift prices over the coming months, Bunge (BG +3.3%) CEO Soren Schroder says.
- The South American weather has introduced a “risk premium” to global grain markets and could lead to short crop supplies in certain areas, creating opportunities for grain traders, Schroder tells Dow Jones, estimating that crop damage in Brazil could cut 5M-10M tons from the country’s corn exports.
- Bunge reported Q1 earnings that easily beat analyst expectations despite a worse than anticipated slide in revenue, dragged lower by weakness in its core agribusiness division where earnings fell 15% Y/Y.
- Now read Bunge: The cheapest consumer staple in the entire market