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USA- The New York Stock Exchange has notified Benson Hill, a food technology company, that it is not in compliance with the NYSE’s continued listing standards due to the company’s stock price falling below US$1 per share for a consecutive 30-day trading period. Benson Hill, which commenced trading on the NYSE in February 2021 at a price of US$11 per…
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NETHERLANDS- Viterra’s revenue reached US$28 billion in the first half of 2023, up 18% from US$24.3 billion recorded in the first half of last year, mostly driven by record sales volumes and the completed acquisition of Gavilon. In its financial report, released on 13th September, Viterra said that the earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first…
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SINGAPORE- Olam Group, one of the world’s biggest agricultural commodity traders, recently announced that it is targeting the Singapore-Saudi IPO of its agricultural unit by the first half of 2024. According to Euromoney, there have been much fewer listings in the recent past that go beyond real estate investments, and Olam’s listing will be a welcome exemption. Moreover, going ahead…
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USA – Ingredion, a leading global provider of ingredient solutions, has recorded robust profit growth from its operations in the second quarter of fiscal 2023, as production adjusts in response to shifting consumer demands. According to the company’s president and CEO James P. Zalie, net income for the quarter that ended June 30 was US$ 163 million, equal to US$2.46…
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USA- Benson Hill, a food technology company, is seeking partnerships to bolster its position in the animal feed market after entering a partnership with ADM to scale the production of high-protein soy ingredients for the North American market in August 2022. “The next step in our evolution will include more robust partnership models to leverage the full power of our…
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GERMANY- Bayer, global farm chemicals and seeds producer, recently revealed that its downward revision of this year’s earnings forecast was primarily influenced by a despondent outlook in its Crop Science division. Bayer published detailed results for the second quarter of 2023 after having already communicated key figures for the three months and lowering its outlook for full-year 2023 in a…
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USA- Global commodities trader Cargill Inc recently reported that its fiscal year 2023 revenue increased 7% from a year earlier to US$177 billion, the highest ever for the 158-year-old company. While Cargill halted public reporting of most of its quarterly and annual financial data in 2020, the grain elevator reports its sales for its June-to-May fiscal year in its annual…
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USA- Seaboard Corp. quarter 2 results reveal an operating income of US$17 million in its Commodity Trading and Milling (CT&M) segment, down 44% from US$30 million in the same quarter a year ago. Seaboard said the decrease in operating income primarily reflected lower margins resulting from lower volumes and sales prices. Had Seaboard not applied mark-to-market accounting to its derivative…
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USA- Commodity trading giant Bunge Limited has reported its second-quarter 2023 results, revealing an EBIT of US$785 million in its agribusiness unit, which is up from US$93 million in the second quarter of the year 2022. Bunge, which recently merged with Viterra to become one of the largest grain merchants in the world, revealed that its net income soared in…
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USA- The second quarter financial results for ADM, a premier global human and animal nutrition company, exceeded Wall Street expectations, even though they declined due to lower oilseed processing margins and reduced North American crop exports. According to reports, net earnings attributable to ADM in the second quarter ended June 30 totaled US$927 million, equal to US$1.70 per share on…
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