World Grain - December 2008 - 14
newsreview
Wheat flows through Port of Churchill despite tight supply
WINNIPEG, MANITOBA, CANADA - The Canadian Wheat
Board (CWB) said Nov. 6 that it shipped 424,000 tonnes of western
Canadian wheat through the Port of Churchill during the 2008 shipping season, which surpasses typical annual levels through the port.
"Despite very tight supplies of prairie grain during most of the
Churchill shipping season, we were able to ship above-normal volumes through Churchill, which is a valuable export route for farmers," said Ian White, CWB president and chief executive officer.
White said annual grain volume through the northern Manitoba
port tends to be around 400,000 tonnes.
In the previous crop year, wheat supplies were drawn down to low
levels in order to take full advantage of market price rallies, he noted.
The price spikes also contributed to an extraordinary shipping season through Churchill in 2007 - the highest in 30 years, at 621,000
tonnes. However, subsequent low stock levels on the prairies left no opportunity for another consecutive year of record volumes at Churchill.
"We are pleased to have been able to use our new Churchill grain
storage program to keep export volumes high," White added. "We are
committed to ensuring Churchill remains a viable export alternative
for prairie farmers."
Bunge acquires J.R. Short's corn dry milling assets
ST. LOUIS, MISSOURI, U.S. - Bunge North America said Nov.
14 that it has purchased assets of J.R. Short Milling Company.
The assets involved in the transaction include those used in J.R.
Short's traditional corn dry mill operations as well as the assets to
operate its specialty product line.
"This purchase enables us to balance our operations in a core
North American business, corn dry milling, so that we now have
two locations in the western half of the U.S. and two in the eastern half," said Todd Bastean, vice-president and general manager,
Bunge Milling. "This additional plant enables Bunge to better
serve our existing customers and reach out to new customers with
an expanded line of products."
Bunge expects to retain a majority of the employees currently
working at the plant. The plant in Kankakee, Illinois becomes
Bunge Milling's fourth U.S. location.
The purchase does not include J.R. Short's pellet division,
the companies said. Financial terms of the acquisition were not
released.
Bunge, Corn Products call off merger
WHITE PLAINS, NEW YORK, U.S. - Shortly following the Nov.
10 announcement by Corn Products International that its board of directors had withdrawn its recommendation in favor of merging with
Bunge Ltd., the board of directors of Bunge voted to terminate the
proposed merger agreement. Under terms of the agreement, Corn
Products must reimburse Bunge for up to $10 million of its costs and
expenses incurred in connection with the transaction.
"We remain disappointed with the decision of the Corn Products board to withdraw its recommendation of the merger," said
Err I `I
Alberto Weisser, chairman and chief executive officer of Bunge.
"While we continue to believe in the long-term strategic benefits
of a merger between Bunge and Corn Products, after careful consideration we have determined that it would not be in the best
interests of our company or shareholders to pursue the transaction
at this time.
"Moving forward, Bunge will continue to pursue its strategy of
investing for growth in its core businesses and in complementary
value chains."
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World Grain - December 2008
Table of Contents for the Digital Edition of World Grain - December 2008
Contents
World Grain - December 2008 - 1
World Grain - December 2008 - 2
World Grain - December 2008 - 3
World Grain - December 2008 - Contents
World Grain - December 2008 - 5
World Grain - December 2008 - 6
World Grain - December 2008 - 7
World Grain - December 2008 - 8
World Grain - December 2008 - 9
World Grain - December 2008 - 10
World Grain - December 2008 - 11
World Grain - December 2008 - 12
World Grain - December 2008 - 13
World Grain - December 2008 - 14
World Grain - December 2008 - 15
World Grain - December 2008 - 16
World Grain - December 2008 - 17
World Grain - December 2008 - 18
World Grain - December 2008 - 19
World Grain - December 2008 - 20
World Grain - December 2008 - 21
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World Grain - December 2008 - 23
World Grain - December 2008 - 24
World Grain - December 2008 - 25
World Grain - December 2008 - 26
World Grain - December 2008 - 27
World Grain - December 2008 - 28
World Grain - December 2008 - 29
World Grain - December 2008 - 30
World Grain - December 2008 - 31
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World Grain - December 2008 - 33
World Grain - December 2008 - 34
World Grain - December 2008 - 35
World Grain - December 2008 - 36
World Grain - December 2008 - 37
World Grain - December 2008 - 38
World Grain - December 2008 - 39
World Grain - December 2008 - 40
World Grain - December 2008 - 41
World Grain - December 2008 - 42
World Grain - December 2008 - 43
World Grain - December 2008 - 44
World Grain - December 2008 - 45
World Grain - December 2008 - 46
World Grain - December 2008 - 47
World Grain - December 2008 - 48
World Grain - December 2008 - 49
World Grain - December 2008 - 50
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World Grain - December 2008 - 56
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World Grain - December 2008 - 81
World Grain - December 2008 - 82
World Grain - December 2008 - 83
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