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Imported soybeans are transported at a port in Nantong, Jiangsu province, China August 6, 2018. If confirmed, Tuesday's sales would be the largest single-day soybean purchases by the world's top soy importer since late July, according to U.S. Department of Agriculture (USDA) daily sales data. They were the latest in a series of soy import deals since late last week by Sinograin, China's state-owned importer, according to three export traders with knowledge of the deals. Total purchases over that time were estimated at as much as 20 to 25 cargoes, two traders said. Confirmed sales to China as of late October were down 35% from a year ago, and sales to all destinations were down 28%.

Persons: Stringer, Sinograin, Brazil's, Karl Plume, Marguerita Choy, Bill Berkrot Organizations: REUTERS, Rights, U.S . Department of Agriculture, High, USDA, Traders, Thomson Locations: Nantong, Jiangsu province, China, Gulf Coast, Pacific Northwest, U.S, Brazil, China's, High U.S, Chicago

Bunge Ltd logo is seen displayed in this illustration taken, April 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 5 (Reuters) - Shareholders of global grains merchant and oilseeds processor Bunge (BG.N) approved the company's acquisition of Glencore-backed (GLEN.L) Viterra during a shareholder meeting on Thursday, Bunge said in a statement. The merger, which will create a company worth $34 billion including debt, is expected to be finalized in mid-2024 after closing conditions are met and regulators have signed off on the deal, Bunge said. Bunge shareholders on Thursday also approved the issuance of 65,611,831 common shares and a move of Bunge's incorporation to Switzerland from Bermuda. Bunge's Viterra acquisition would make the world's largest oilseed processor more dominant as it aims to capitalize on soaring demand for vegetable oils to produce biofuels.

Persons: Dado Ruvic, Bunge, Archer, Greg Heckman, Karl Plume, Tom Hogue Organizations: Bunge, REUTERS, Daniels, Midland, Cargill, Thomson Locations: Switzerland, Bermuda, Chicago

Phillips declined to make an executive available for comment and both ADM and Phillips 66 declined to comment. TECH LINED UPAxens SA, which provides technology to convert oil and biomass to lower-carbon fuels, in May agreed to provide its ethanol-to-fuels conversion technology to Phillips, ADM or a joint venture. ADM already formed a joint venture in 2021 with top U.S. oil refiner Marathon Petroleum Corp (MPC.N) to churn out renewable diesel from soybeans. Top oilseed processor Bunge (BG.N) and Chevron (CVX.N) last year formed Bunge Chevron Ag Renewables to make renewable fuels from soybeans and canola. As part of one deal, Chevron invested $600 million in the joint venture, helping double processing capacity at two Bunge soybean crushing facilities.

Persons: Nathan Frandino, refiner Phillips, Phillips, Axens, Gevo, Stephanie Kelly, Karl Plume, Jarrett Renshaw, Erwin Seba, Marguerita Choy Organizations: Phillips, American West, REUTERS, Daniels, Midland, ADM, Renewable Fuels Association, TECH, Axens SA, Gevo Inc, Marathon Petroleum Corp, Bunge, Chevron, Bunge Chevron Ag Renewables, Thomson Locations: Rodeo , California, American, U.S, Peoria , Illinois, Columbus , Nebraska, Cedar Rapids , Iowa, Houston, , California, California, Paris, North Dakota, Bunge Chevron, New York, Chicago, Washington

REUTERS/Dado Ruvic/Illustration/File PhotoAug 2 (Reuters) - Bunge Ltd (BG.N) raised its full-year earnings outlook on Wednesday after improved processing margins helped the agri-trader post a second-quarter profit above Wall Street estimates, sending shares up sharply. "Shares are up due to a strong quarter and raised guidance. ADM reported a drop in second-quarter profit last month but raised full-year guidance, citing improving market conditions in the second half of 2023. Bunge said second-quarter adjusted earnings in Agribusiness, its largest segment in terms of sales and volumes, jumped 75% as a record-large Brazilian soybean crop boosted processing operations. Bunge's adjusted profit was $3.72 per share for the three months ended June 30, compared with analysts' estimate of $2.69 per share.

Persons: Dado Ruvic, Bunge, Arun Sundaram, Archer, Cargill, Louis Dreyfus, Shilpi Majumdar, Nick Zieminski, Marguerita Choy, Kirsten Donovan Organizations: Bunge, REUTERS, Bunge Ltd, Wall, CFRA Research, Daniels, Midland, ADM, Specialty, Saikeerthi, Thomson Locations: Ukraine, Bengaluru

CHICAGO, July 25 (Reuters) - Archer-Daniels-Midland (ADM.N) beat Wall Street expectations for second-quarter profit on Tuesday, as the grain trader and processor benefited from a record Brazilian soybean harvest and robust global demand for grain and oilseeds. ADM, which previously forecast full-year 2023 earnings at $6 to $7 per share, said it would raise its earnings outlook but did not provide details. ADM and its agribusiness peers, including Bunge (BG.N), Cargill and Louis Dreyfus, have capitalized on strong demand for food, feed and biofuel, while global food supply chain disruptions such as lower grain shipments from war-torn Ukraine have boosted prices. ADM's Carbohydrate Solutions unit capitalized on strong demand for sweeteners and starches, though results were dented by weaker ethanol margins. Results in the company's high-margin Nutrition segment struggled in what ADM called a "challenging demand environment."

Persons: Archer, Cargill, Louis Dreyfus, Arunima Kumar, Shilpi Majumdar, Mark Porter Organizations: Daniels, Midland, ADM, Bunge, ADM's Ag Services, Thomson Locations: Ukraine, Bengaluru

☆ Analysis: Decades of US corn export dominance fade as Brazil seizes top supplier crown
▼ + stars: | 2023-07-07 | by ( Karl Plume | Thomson Reuters | Chicago-Based Senior Commodities Correspondent Covering Agricultural Markets | ) www.reuters.com time to read: +5 min

Brazilian corn exports are expected to flood the global marketplace beginning in July and into the U.S. autumn harvest. China's overall corn imports are down about 10% this year, according to customs data, as buyers there await ample supplies of cheap Brazilian corn in the coming months. Total U.S. corn export sales in April and May were the lowest in at least 22 years, according to weekly USDA export sales data. The period included three weeks in which more purchases were canceled than booked, and the two worst weeks of U.S. corn exports on record. Rapid growth in Brazilian corn production offset loss of much of the corn exports from Ukraine since Russia’s invasion.

Persons: Yahir, Stephen Nicholson, Richard Guebert, They're, Nicholson, Matthew Roberts, Brazil's, We're, Karl Plume, Caroline Stauffer, Marguerita Choy Organizations: REUTERS, Rabobank, . Department of Agriculture, Gulf, Total U.S, Thomson Locations: Brazil, Tuxpan, Veracruz, Mexico, China, Illinois, U.S, Ukraine, United States, BRAZIL, Gulf Coast, Chicago

REUTERS/StringerLONDON, June 24 (Reuters) - Following are facts about oil, gas and grains flows in Russia's southern region of Rostov, where the capital Rostov-on-Don was seized by Russian mercenaries. Russia's main grain exporting terminals on the Black Sea are further south, and this area has been unaffected by the developments so far. OIL & GASThe region of Rostov is not a major energy producer but several big oil and gas pipelines cross its territory. Russia is the world's second largest oil exporter after Saudi Arabia. Russia's pipeline monopoly Transneft controls many pump stations on the route, including in the Rostov region.

Persons: Wagner, Stringer LONDON, Don, Vladimir Putin, Yevgeny Prigozhin, Andrey Sizov, Sizov, Dmitry Zhdannikov, Ros Russell Organizations: Southern Military District, REUTERS, Wagner, Reuters, U.S . Department of Agriculture, Thomson Locations: Rostov, Don, Russia, Russia's, Russian, Azov, Saudi Arabia, Novorossiisk, Krasnodar, Voronezh

"Much of the (Midwest) region did not see appreciable rainfall. As of June 20, 58% of the Midwest was in moderate drought or worse, the broadest area since 2012, the Drought Monitor data showed. 2 soybean producer in moderate drought or worse. In Illinois, the largest soy grower and second-largest corn producer, moderate drought or worse spanned 82% of the state. Conditions worsened across the eastern half of the High Plains, with 34% of the region in moderate drought or worse.

Persons: climatologists, Karl Plume, Matthew Lewis Organizations: U.S . Drought, Drought, U.S . Department of Agriculture, Chicago, of Trade, USDA, Weather, Thomson Locations: North Dakota, Kansas, U.S, Midwest, Iowa, Illinois, Nebraska, Southern Plains, Chicago

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.

Most international grain traders have stopped new investment in Russia since last year following Moscow's invasion of Ukraine but continued exporting Russian wheat. "As grain export-related challenges continue to mount, Cargill will stop elevating Russian grain for export in July 2023 after the completion of the 2022-2023 season," the company said in an emailed statement. "The cessation of its export activities on the Russian market will not affect the volume of domestic grain shipments abroad. The company's grain export assets will continue to operate regardless of who manages them," the agriculture ministry told Reuters. According to RBC business daily, Cargill will export 2.2 million tonnes of Russian grain in the 2022-23 exporting season, or around 4% of Russia's total grain exports.

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.

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.

Russia is on track to harvest a record grain crop of 150 million tonnes, including 100 million tonnes of wheat, in 2022. SANCTIONS CAUSE SOME LOSSESSovecon and another consultancy IKAR see December wheat exports at 4.0-4.2 million tonnes. That is close to the record of 4.3 million tonnes set in December, 2017, Sovecon said, adding that Russia exported 4.3 million tonnes of wheat in November. Sovecon expects Russia's July-December wheat exports at 22.9 million tonnes, up 2% year-on-year and equal to the average of the past five years. It estimates Russia's total 2022/23 grain exports at 56.1 million tonnes, including 43.7 million of wheat.

4 U.S. soy state by planted acres, which ships about 70% of its harvest of the high-protein oilseed to China annually. Instead, the new facilities will be able to process half of the state's soy harvest into oil for biofuel and meal for livestock feed. The crush plant will draw soybeans from farmers 60 miles in each direction, said Mike Keller, vice president with ADM. EXPORT EXPANSIONU.S. grain exports have been reaching global buyers for decades via Gulf Coast and Pacific Northwest terminals. U.S. soybean farmers and industry groups pledged an additional $1.3 million to help offset design and development costs.

CHICAGO, Oct 26 (Reuters) - Agricultural commodities trader Bunge Ltd (BG.N) on Wednesday raised its full-year earnings outlook after adjusted third-quarter profit topped expectations, sending its shares up more than 5%. "We delivered strong quarterly results against the backdrop of a shifting operating environment," Chief Executive Gregory Heckman said. Rival agribusiness Archer-Daniels-Midland Co on Tuesday reported its strongest ever third-quarter profit and raised its earnings outlook. Bunge lifted its full-year 2022 earnings guidance to $13.50 per share as the profit outlook for its core business segments improved. The refined and specialty oils segment however turned in stronger quarterly earnings.

FILE PHOTO: Boats make their way along the Mississippi river in New Orleans, Louisiana, U.S., August 28, 2020. REUTERS/Shannon Stapleton/Oct 20 (Reuters) - Low water levels on the Mississippi River are likely to persist this winter as drier-than-normal weather is expected across the southern United States and Gulf Coast, U.S. government forecasters said on Thursday. Crucial shipments of fertilizer, farm chemicals and road salt that move up the Mississippi River ahead of the winter have also been disrupted. "Across the lower Mississippi Valley, we are favoring continuation of below-normal precipitation," said Jon Gottschalck, chief of the Operational Prediction Branch of NOAA's Climate Prediction Center. "That would certainly, if the prediction is realized, lead to continued low water levels and exacerbate drought conditions there."

Corn exports are also lagging their typical harvest-time rate, weekly USDA export inspections data showed. Low water on the Mississippi River and its tributaries has slowed the delivery of grain barges to export terminals along the Gulf Coast, where some 60% of U.S. crop exports exit the country. The Army Corps of Engineers, meanwhile, has been dredging sections of the Mississippi and Ohio rivers to deepen their shipping channels. But without more rain, shippers worry that Louisiana Gulf terminals will struggle to source enough grain to meet their export commitments. Corn inspections totaled just 448,423 tonnes last week, compared with 1.049 million last year.

The order should also prohibit firms related to "unfriendly" states from owning Russian companies involved in grain loading capacity in ports, and grain storage, he said. VTB owns stakes in a number of major Russian grain export hubs in the Black Sea. Russian grain market players should still be allowed to sell grain to international traders for export on a free-on-board basis, which includes delivery to the final destination, the letter said. "But the main idea is to strengthen the position of Russian traders on the global market, not to prohibit anyone from doing anything," the source said. According to one grain trader, the government is expected to prepare its response to VTB's proposal by Sept. 30.

“That was a massive expense.”In fact,service members and their spouses ranked financial stress as their greatest concern, even over deployment, according to Blue Star Families’ annual military family lifestyle survey. As a result, about half of service members and their spouses of service members say they rely on the gig economy to stay afloat, the NFCC found. You can keep on top of the many benefits the military offers, as well as whatever financial education it makes available, through Military OneSourceor other channels. For its part, the NFCC offers financial education and credit counseling through its member agencies. Institutions such as USAA also regularly work with current and former service members and offer a range of banking and insurance products.

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