ADM proposes carbon dioxide pipeline, third in Iowa
Agribusiness giant ADM said on Tuesday it would reduce its carbon footprint by building a 350-mile pipeline to transport carbon dioxide for injection in central Illinois from its ethanol plants in eastern Iowa. It was the third carbon dioxide pipeline proposed for Iowa, the No. 1 corn and ethanol producing state.
Grain companies establishing co-ops to benefit from tax law
The recently passed tax law included a provision that gives farmers a larger tax savings if they sell their goods to cooperatives. Now grain companies, angered by what they see as an advantage being given to their competitors, are setting up their own cooperatives in case the law isn’t amended.
U.S. grain exports to expand in coming months, says ADM
The mammoth U.S. grain harvest and reduced competition from South America will set the stage for a rapid increase in exports over the next six months, the chief executive of ADM told analysts. Agrimoney quoted ADM leader Juan Luciano as saying, "Demand continues to be strong and the United States is competitive now for the future months."
Merger in China may create a rival to ‘ABCD’ grain giants
A Chinese government commission announced the merger of COFCO, the nation's largest food trader, with Chinatex Corp., one of the country's main textile and grain-trading groups, said China Daily. The new company will be "a bigger rival to compete with the so-called ABCD companies." The "ABCDs" are the long-time international farm export and processing companies — ADM, Bunge, Cargill and Louis Dreyfus.
Two big processors say they won’t buy new GE soybeans
Bunge and Archer Daniels Midland, two of the largest grain processors in the country, say they will not accept delivery of a new genetically engineered soybean strain from Monsanto because of marketing questions, reported Bloomberg. The European Union has not approved the strain, called Roundup Ready 2 Xtend, for import.
ADM sues railroad over shipping delays
The Canadian Pacific is being sued by agri-processor ADM, which says service disruptions at its plants in North Dakota and Minnesota in 2013 and 2014 were due to the railroad's cost-cutting and pursuit of merger partners.
ADM sues Syngenta over rejected GE corn cargoes
ADM, the world's largest corn processor, sued Syngenta in state court in Louisiana over cargoes of corn rejected by China because they contained an unapproved Syngenta variety, said Bloomberg.
Brazil exporter to collect soybean royalties for Monsanto
At least one soybean exporter in Brazil has agreed to collect royalties for Monsanto, the giant seed company, from growers who plant biotech seeds that contain Monsanto's traits, said Reuters, citing industry sources.