Monday, January 22, 2018

First it was Glencore, now it’s ADM

First it was Glencore rumoured to be preparing a bid to buy

Now the Wall Street Journal says it’s ADM preparing to buy Bunge.

If Bunge is bought by either of them, it would reduce the number of global grain traders from four to three.

Bunge, with head offices in White Plains, New York, operates in more than 40 countries and is Brazil’s largest exporter of agricultural products.

ADM, based in Chicago, says it has customers in 160 countries. It is also a big processor of corn into ethanol and sweeteners.

Glencore, based in Switzerland, is big in mining of minerals, but became big in grain trading, including purchasing Viterra, the new name after the Manitoba, Saskatchewan and Alberta wheat pools and United Grain Growers became one.