The Dividend Daily | Morgan Stanley raised its price targets and earnings estimates for Archer Daniels Midland Tuesday. It pegs shares of the agriculture products giant at $37, a 12 percent premium from their close of $32.95 Monday.
Filed under: Agriculture/Farming
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Sep. 20, 2010 at 5:15 p.m.
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Filed under: Agriculture/Farming, Government, M&A, Manufacturing, Updated BHP CEO fails to win premier’s support on Potash
BHP Billiton CEO Marius Kloppers visited the home city of Potash Corp. on Monday but failed to win the support of the provincial premier for its $39 billion offer to take over the world’s largest fertilizer supplier.
Saskatchewan Premier Brad Wall said he still has concerns about BHP’s proposal after meeting with Kloppers, who sought to bolster the chances that Canada would approve the bid by winning the province’s support. Get the full story »
Canada to examine possible foreign Potash buyout
Canada’s prime minister says concerns surrounding a possible foreign takeover of Canada’s Potash of Saskatchewan will be examined and says foreign takeovers are not automatically approved. Get the full story »
Illinois’ sizeable basil crop hit by mildew
A University of Illinois plant expert says the state’s sizable basil crop is being hit hard by a disease called basil downy mildew. Get the full story »
Court allows part of organic-milk case to proceed
A federal appeals court says a group of dairy consumers can proceed with parts of a lawsuit alleging that several national retailers and an organic dairy company falsely labeled the dairy’s milk.
Corn prices again touch 2-year high
Corn prices have been on a nearly unchecked climb since late July and are approaching the psychological $5-a-bushel level. The price of corn for December delivery rose as high as $4.975 a bushel during trading Wednesday before falling back to settle at $4.9525 a bushel. Corn rices have jumped more than 25 percent since the end of July.
Sep. 10, 2010 at 2:04 p.m.
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Filed under: Agriculture/Farming, Food, Government, Litigation USDA sued over genetically altered sugar beets
Groups opposed to genetically modified foods have sued the U.S. Department of Agriculture Thursday over the agency’s recent decision to allow limited plantings of altered sugar beets. Get the full story »
Potash chief takes to YouTube to discuss BHP bid
From The New York Times | Potash Corp. of Saskatchewanon put up several videos of William Doyle, its chief executive, on Tuesday, to explain why shareholders are better off sticking with the company than flocking to BHP’s offer.
BHP denies plans to divest Potash Corp. assets
BHP Billiton denied on Monday that it would divest some of Potash Corp.’s assets if its $38.6 billion hostile bid for the world’s largest fertilizer producer proved successful. Get the full story »
Aug. 25, 2010 at 1:56 p.m.
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Filed under: Agriculture/Farming, Environment, Government, Green, Manufacturing Deere leaves CO2 cap-and-trade group
Deere & Co. has quietly dropped out of a coalition of large companies that has supported a cap-and-trade program for reducing carbon dioxide emissions.
Deere, the world’s largest manufacturer of farm machinery, opted to leave the U.S. Climate Action Partnership in May because the group’s legislative strategy “no longer served as a foundation for moving forward” with climate change regulation, Ken Golden, a spokesman for the company said Tuesday. Get the full story »
BHP flush in profit but won’t overspend for Potash
BHP Billiton, the world’s biggest miner, tried to dampen expectations it would substantially raise its hostile $39 billion bid for Potash Corp. as bumper results showed it has plenty of firepower.
“I will be as disciplined on this bid as I’ve been on every other endeavour,” Chief Executive Marius Kloppers told a conference call with reporters on Wednesday. “The shareholders own the company and it’s my job to create more value for them, not to do any one thing at any cost.” Get the full story »
Aug. 23, 2010 at 6:00 p.m.
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Filed under: Agriculture/Farming, Food, Government, Health care, Investigations, Recalls FDA: Egg problems seem limited to 2 farms
Food and Drug Administration officials said Monday that there is no evidence a massive outbreak of salmonella in eggs has spread beyond two Iowa farms, though a team of investigators is still trying to figure out what caused it.
FDA officials said they do not expect the number of eggs recalled — now at 550 million– to grow. Get the full story »
Brazil’s Vale denies it’s bidding for Potash
Brazilian mining giant Vale Monday denied market talk it is planning a bid for Canada’s Potash Corp., as Potash seeks to fends off a $39 billion takeover offer from Australia’s BHP Billiton.
“The rumors that the company has bid to acquire or is negotiating to buy a fertilizer company (are) totally unfounded,” Vale said in statement. Get the full story »
Beef to take bigger bite out of budgets
Expect to pay higher prices to grill beef this Labor Day weekend.
Supply of beef is down and demand is up. That will translate into steak and hamburger prices that are 6 to 7 percent higher at the supermarket than last year, said Rich Nelson, director of research at commodities research firm Allendale Inc. in McHenry. Get the full story »
