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☆ Banco do Brasil's profit jumps nearly 30% in first quarter
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

Banco do Brasil's adjusted net income reached 8.55 billion reais ($1.71 billion) during the first three months of this year, while analysts polled by Refinitiv expected 8.69 billion reais. Its loan book reached 1.03 trillion reais, growing 16.8% year-on-year and 2.7% from the previous quarter, helped by a greater expansion in agribusiness-related lending. During the quarter, Banco do Brasil reported 5.85 billion reais set aside for bad loans, more than doubling the figure reported a year ago, but 10.4% down from the previous three months. Fee income grew 8.1% to 8.13 billion reais, while its return on equity, which measures profitability, landed at 20.8%, 2.9 percentage points above the previous year. The company's interest income, a measure of earnings on loans minus deposit cost, rose 38% from a year earlier, to 21.16 billion reais.

Bunge reaffirmed its full-year 2023 outlook of adjusted earnings of $11 per share, citing likely weaker results from its Agribusiness and Milling divisions but improved profits in its Refined and Specialty Oils unit. Bunge and other supply chain middlemen, including Archer-Daniels-Midland Co (ADM.N) and Cargill Inc (CARG.UL), have generally benefited from strong global crop demand and tightening supplies, with record profits last year. The worst drought in decades has slashed grain and soy harvests in Argentina, depriving Bunge of the crops it needs to process. First-quarter adjusted profit in Bunge's Agribusiness unit, its largest in terms of revenue and volumes, dropped 18% on the year. Bunge said results were strong in all regions in its Refined and Specialty Oils division, with notable strength in North America and South America, reflecting favorable food and fuel demand trends.

☆ Bolsonaro steals show at Brazil's biggest farm fair
▼ + stars: | 2023-05-01 | by ( Lais Morais | ) www.reuters.com time to read: +2 min

[1/5] Brazil's former President Jair Bolsonaro attends the Agrishow fair, in Ribeirao Preto, Brazil, May 1, 2023. REUTERS/Carla CarnielRIBERAO PRETO, Brazil, May 1 (Reuters) - Former right-wing President Jair Bolsonaro stole the show on Monday at Brazil's largest agribusiness fair where he was acclaimed by supporters from the country's strong farm sector. Bolsonaro criticized the decision by Lula to recognize new Indigenous reservations, a constant complaint by farmers in Brazil's expanding agricultural frontier. The deep-pocketed and powerful farm sector were major supporters of Bolsonaro's 2018 election. Bolsonaro faces legal risks that could ban him from running in the 2026 election.

☆ Opinion | Peter Singer: The Simplest Way to Change the Planet’s Fate
▼ + stars: | 2023-04-22 | by ( Peter Singer | ) www.nytimes.com time to read: +2 min

MELBOURNE, Australia — The year of the first Earth Day, 1970, was the year I stopped eating meat. It is wrong to ignore or discount the interests of sentient beings because they are not members of our species. Meat and dairy production are major sources of methane, a powerful greenhouse gas. The Intergovernmental Panel on Climate Change calculates that releasing into the atmosphere a ton of methane will, over a century, raise the temperature of our planet by 28 times as much as releasing a ton of carbon dioxide. That would be bad enough, but the impact is even more lopsided in the shorter term: Because methane breaks down much more rapidly than carbon dioxide, over 20 years, that ton will warm the planet as much as 84 tons of carbon dioxide.

☆ Australia's United Malt shares soar on near $1 bln offer from France's InVivo
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +2 min

The A$5 per-share non-binding offer represents a 45.3% premium to the United Malt stock's last close of A$3.44. Shares in United Malt soared to A$4.64 in their biggest intraday percentage jump ever when they returned to trading. Trading in United Malt shares was halted on Monday. United Malt is the world's fourth largest commercial maltster, producing bulk malt for brewers, craft brewers, distillers and food companies. United Malt has appointed Macquarie Capital as its financial adviser for the deal.

☆ Tech service startup Bitwise Industries raises $80 mln in latest funding round
▼ + stars: | 2023-02-28 | by ( Krystal Hu | ) www.reuters.com time to read: +2 min

Feb 28 (Reuters) - Bitwise Industries, a tech service provider that trains workers in underrepresented communities, has raised $80 million in a funding round led by existing investors Kapor Center and Motley Fool, the company told Reuters. Goldman Sachs Asset Management (GS.N) and Citibank (C.N) also participated in the round, which brought its total funding to $180 million. Founded in Fresno, California by Irma Olguin Jr and Jake Soberal, Bitwise invests in tech real estate, runs apprentice programs for marginalized communities and sells managed tech services to government and traditional businesses. The company said it supported the training of over 10,000 individuals, 80% of whom have received technical employment. The training program, supported by government workforce upskill funding and tech corporate funding, usually takes about 12-18 months to complete.

[1/3] A view of the destroyed village of Moshchun amid Russia's invasion, Kyiv region, Ukraine May 19, 2022. But before they can even begin to be answered, Kyiv is seeking billions just to ride out this year. After a 30% contraction in its economy in 2022, Ukraine will need $38 billion by the end of year to cover its budget deficit alone. "But to me, one of the surprises has been how the private sector has been so resilient." "Supporting Ukraine now is critical to avoid a devastating humanitarian crisis and to strengthen Ukraine for what it's doing for the rest of the world."

☆ Deere, Caterpillar and more: CNBC's 'Halftime Report' traders answer your questions
▼ + stars: | 2023-02-16 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

On Thursday's "Ask Halftime," our traders answered questions from CNBC Pro subscribers about stocks and ETFs during this heightened market volatility, including whether to buy, sell or hold specific companies. Jim Lebenthal of Cerity Partners discussed Deere and why he would buy this stock over Caterpillar , AGCO and VanEck Agribusiness ETF (MOO). Gilman Hill Asset Management's Jenny Harrington explained why she is still long New York Community Bank .

☆ Bayer's new CEO has a full in-tray as investors push for change
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +5 min

February 9 - By Ludwig Burger and Patricia WeissFRANKFURT (Reuters) - Bayer's incoming CEO is inheriting a full in-tray from his predecessor: Thousands of lawsuits claiming its weedkiller causes cancer, an underwhelming drug development pipeline and disgruntled investors looking for major change. "The most important task for Bill Anderson is to regain investors' trust," said Markus Manns, a portfolio manager at Germany's Union Investment, a top 20 shareholder. Bayer's shares lag those of its global rivals, having fallen about 40% - knocking about 30 billion euros off its market valuation - since it bought Monsanto in 2018 for about $63 billion. Baumann's early exit has stirred debate about what the 56-year-old Anderson can do to restore investor trust and boost Bayer's shares. A stand-alone pharmaceuticals business, with 18.3 billion euros in 2021 sales, could also become a takeover target.

☆ Asia-Pacific markets fall as investors weigh risks of more hikes ahead
▼ + stars: | 2023-02-09 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Fed Governor Christopher Waller on Wednesday talked tough on inflation, warning that the fight is not over and could result in higher interest rates than markets are anticipating. Consequently, he said the Fed needs to maintain its current plan of action, which has seen eight interest rate hikes since March 2022. "We are seeing that effort begin to pay off, but we have farther to go," Waller told the Arkansas State University Agribusiness Conference in prepared remarks. "And, it might be a long fight, with interest rates higher for longer than some are currently expecting. But I will not hesitate to do what is needed to get my job done."

☆ Treasury yields dip as investors digest Fed speaker comments
▼ + stars: | 2023-02-09 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was last down by almost three basis points to 3.6088%. U.S. Treasury yields fell on Thursday as investors digested comments from Federal Reserve speakers and assessed the outlook for the economy. Fed Governor Christopher Waller indicated on Wednesday that interest rates could be increased by more than investors are expecting. This echoed the tone struck by other Fed speakers, including Chairman Jerome Powell and Minneapolis Fed President Neel Kashkari, earlier this week. The Fed has hiked interest rates eight times since March 2022 as part of its efforts to slow the economy and lower inflation.

☆ Here are Thursday's biggest analyst calls: Exxon, Disney, Tesla, Apple, Affirm, Ulta, Alphabet & more
▼ + stars: | 2023-02-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Baird downgrades Bunge to neutral from outperform Baird downgraded the agribusiness and food company's after its disappointing earnings report on Wednesday. JPMorgan reiterates Uber as a top pick JPMorgan says it's sticking with the stock after its "strong" earnings report on Wednesday. Goldman Sachs reiterates Exxon as buy Goldman says it's sticking with its buy rating on shares of Exxon. Bank of America reiterates Apple as neutral Bank of America says Apple Services are at risk for further deceleration. Oppenheimer reiterates Ulta as outperform Oppenheimer says the bull case still has legs" for Ulta.

☆ Fed Governor Christopher Waller warns that interest rates could go higher than expectations
▼ + stars: | 2023-02-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Federal Reserve Governor Christopher Waller on Wednesday talked tough on inflation, warning that the fight is not over and could result in higher interest rates than markets are anticipating. Consequently, he said the Fed needs to maintain its current plan of action, which has seen eight interest rate hikes since March 2022. "And, it might be a long fight, with interest rates higher for longer than some are currently expecting. But Waller said he sees inflation still too high while he expects just moderate economic growth this year. He did note that wage data is "moving in the right direction," but not enough for the Fed to lower rates.

☆ CNBC Pro talks with the VanEck CEO on what commodities to invest in right now
▼ + stars: | 2023-02-07 | by ( Alison Conklin | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Pro talks with the VanEck CEO on what commodities to invest in right nowCNBC's Bob Pisani sat down with VanEck CEO, Jan van Eck, who he calls the 'king of commodities' at the Exchange ETF Conference in Miami Beach. VanEck Gold Miners (GDX), Oil Services (OIH), Agribusiness (MOO), and Rare Earth Metals (REMX) are among the top funds in the space and his VanEck Semiconductor ETF (SMH) is also the largest in its sector. They discuss when we may see the next big gold rally, oil stocks, chipmakers, and more.

☆ Forgotten parts of the market lead the way in 2023 as advisors wrestle with how to play the economy
▼ + stars: | 2023-02-07 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

Everyone here is amazed at how forgotten segments of the market have rebounded in 2023: international, growth, small cap and bonds. Advisors here are having a hard time wrapping their heads around the idea that there would be a recession ins 2023, and now maybe not. "With real wage growth, large payroll growth and earnings beating expectations it equals a soft landing at worst and maybe no recession near term." Most advisors here are coming to grips with Powell's insistence the Fed will not lower rates this year. Their Equal Weight S & P 500 ETF (RSP) has also attracted significant inflows from investors wary of market cap weighted indexes.

Between 30 and 40 employees that oversee the power co-generation plant at the central Illinois site are on strike and the company has brought in replacement workers, the union said. There are nearly 5,000 employees at the sprawling Decatur facility that processes corn and soybeans into food, animal feed and biofuels, according to ADM. "ADM is refusing to offer these workers wages and benefits on par with what union members receive at other union facilities," J.P. Fyans, Local 916 president, said in a media statement. ADM has offered the members "an extremely competitive proposal" and continues to negotiate with the union in good faith, said company spokesperson Jackie Anderson. The Decatur site, ADM's global headquarters until a move to Chicago a decade ago, houses a soybean crushing plant and one of the largest corn wet mills in the world.

☆ A simple options strategy has been a big winner this earnings season, Goldman says
▼ + stars: | 2023-01-27 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

An earnings season that has been better-than-feared and a relatively calm stock market has led to big gains for a simple options strategy, according to Goldman Sachs. Vishal Vivek of Goldman's derivatives research team said in a note to clients on Wednesday that the implied volatility for stocks around earnings has been falling in recent weeks, making a simple strategy of buying call options a winner. "Buying calls ahead of earnings for the average U.S. stock with liquid options has yielded +29% return on premium," so far this quarter, the note said. Two stocks with upcoming earnings reports that could be good candidates for this strategy are breakfast cereal maker Post Holdings and agribusiness company Bunge , Goldman said. Post will report earnings after the bell on Feb. 2, while Bunge will announce on the morning of Feb. 8.

The solid quarterly earnings highlighted how global crop merchants like ADM have weathered rising energy costs and supply chain disruptions such as lower Black Sea grain exports following Russia's invasion of Ukraine. "As we look forward to 2023, we expect another very strong year," Chief Executive Juan Luciano said. "We still see tightness in supply and demand balances in key products and regions," he said, citing reduced Ukrainian grain supplies and smaller harvests in drought-hit Argentina. Adjusted operating profit in Ag Services and Oilseeds rose as strong South American crop exports and good margins offset reduced U.S. exports and as quarterly oilseed crushing profits more than doubled. ADM's adjusted net fourth-quarter earnings rose to $1.069 billion, or $1.93 per share, from $850 million, or $1.50 a share a year earlier, above the consensus estimate of $1.65 per share, based on Refinitiv data.

☆ Grain trader ADM hikes dividend as quarterly profit tops estimate
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

Jan 26 (Reuters) - Archer-Daniels-Midland Co (ADM.N) on Thursday reported upbeat fourth-quarter profit and said it will raise its dividend payments, as the global grains merchant benefited from tight global supply and hefty demand for grain and oilseeds. The strong quarterly performance followed record third-quarter earnings as tight supply and strong demand for food, feed and biofuel propelled results for the Chicago-based agribusiness. Supply chain middlemen such as ADM tend to thrive when crises such as droughts or war trigger shortages in parts of the world. It also raised its quarterly dividend by 12.5% to 45 cents. Reporting by Sourasis Bose in Bengaluru and Karl Plume in Chicago; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Inclusive Capital takes a stake in Bayer — 3 ways it may build value with a sustainable focus
▼ + stars: | 2023-01-21 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Activist Commentary: Inclusive Capital Partners is a San Francisco-based investment firm focused on increasing shareholder value and promoting sound environmental, social and governance practices. As a pioneering active ESG ("AESG") investor, Inclusive seeks long-term shareholder value through active partnership with companies whose core businesses contribute solutions to this pursuit. Bayer's crop science division accounts for approximately 25% of global crop farming. There are several ways to create this shareholder value. Bayer currently trades at approximately 7x earnings while its pure-play crop science peer, Corteva, trades at closer to 20x earnings.

Indonesia, producer of more than half of global palm oil supplies, also tightened trade rules this year, allowing exporters to ship just six times their domestic palm oil sales volume, less than a fourth-quarter 2022 ratio of eight times. "Indonesian palm oil export definitely will drop, as output will decline, domestic consumption will increase," Fadhil Hasan, an Indonesian Palm Oil Association (GAPKI) official, told Reuters. Indonesia produced 51.3 million tonnes of palm oil in 2022 and exported 33.7 million tonnes, GAPKI estimated. In 2023, palm oil output is expected at 50.82 million tonnes and exports at 26.42 million tonnes, it said. "But India's strong demand for palm oil will continue as it is still the cheapest edible oil."

☆ Brazil ‘mega-protest’ fizzles amid authorities’ concern
▼ + stars: | 2023-01-12 | by ( The Associated Press | ) www.nbcnews.com time to read: +5 min

BRASILIA, Brazil — Skittish Brazilian authorities on Wednesday spared no effort to boost security in the face of a social media flyer promoting a “mega-protest to retake power” in two dozen cities. On Brasilia’s esplanade surrounded by federal government buildings, authorities had designated an area for protest and stationed police and national guard troops. Just one couple showed, dressed in the same Brazil soccer jerseys that thousands of rioters wore four days earlier. Citing the call to protest, a Supreme Court justice ordered local authorities in cities across Brazil to prevent protesters from blocking roads or occupying public spaces and buildings. Justice Minister Flávio Dino told local press this week that authorities have identified some of the protest’s financiers.

☆ Brazilian authorities brace for possible repeat of uprising
▼ + stars: | 2023-01-11 | by ( Associated Press | ) www.nbcnews.com time to read: +6 min

It was unclear how large or violent such demonstrations might shape up to be, but skittish authorities took no chances. Citing the call to action on social media, a Supreme Court justice ordered local authorities in cities across Brazil to prevent protesters from blocking roads or occupying public spaces and buildings. A police officer carries away part of a vandalized sculpture Tuesday at the Supreme Court building in Brasília. Carl De Souza / AFP - Getty ImagesJustice Minister Flávio Dino told local press this week that authorities have identified some of the protest’s financiers. In November, the Supreme Court froze 43 bank accounts of people accused of having financed roadblocks that disrupted highway traffic in the wake of Lula’s victory.

☆ Brazilian Investigators Home In on Suspects in Riot Financing
▼ + stars: | 2023-01-10 | by ( Samantha Pearson | Luciana Magalhaes | ) www.wsj.com time to read: 1 min

BRASÍLIA—Brazilian authorities said Tuesday they have identified individuals in 10 states across the country who financed Sunday’s attacks on government buildings, as investigators probe links between the protests and the nation’s powerful agribusiness sector. Brazil’s Justice Minister Flávio Dino said Monday that it was indisputable that people linked to agribusiness took part in Sunday’s acts, but warned against accusing the entire sector of involvement.

☆ Cargill Chief Financial Officer Jamie Miller Resigns
▼ + stars: | 2023-01-09 | by ( Colin Kellaher | ) www.wsj.com time to read: 1 min

Cargill Inc. on Monday said Jamie Miller is stepping down as chief financial officer of the agribusiness giant after about a year and a half on the job to accept another opportunity. Jamie Miller, CFO of Cargill, is set to leave Jan. 13. Photo: CargillMs. Miller, who served as General Electric Co. ’s chief financial officer from November 2017 to February 2020, joined Cargill in June 2021 as senior vice president and chief financial officer, and was named head of corporate strategy last April. Cargill said Ms. Miller, a member of its executive team, is leaving on Jan. 13. The Minneapolis company said Joanne Knight, currently vice president of finance for its agriculture supply-chain enterprise, will serve as acting finance chief.

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