Archive for November 1st, 2019

SHAWNEE MISSION, KANSAS, U.S. —Seaboard Corp. has completed a transaction giving it control of Continental Grain’s shares in ContiLatin del Peru S.A. (CLDP). Financial terms of the transaction were not disclosed.

CLDP was founded in 1994 as a trade and import business. In 2007, Seaboard joined Continental Grain as a joint venture partner in the business. Over the past 12 years CLDP has grown into an industrial operation, with plants in Lurin and Trujillo, Peru, which are engaged in grain processing, ...

CHICAGO, ILLINOIS, U.S. — Archer Daniels Midland Co. battled through a difficult external environment to post strong sales in the third quarter of fiscal 2019.

ADM net income in the period ended Sept. 30 was $407 million, equal to 72¢ per share on the common stock, down 24% from $536 million, or 94¢, in the third quarter of 2018. Net sales, meanwhile, were $16.726 billion, up nearly 6% from $15.8 billion.

“Our team delivered solid results this quarter,” Juan R. Luciano, president ...

COLORADO SPRINGS, COLORADO, U.S. — Food safety has been a pillar of the milling industry’s strategic plan for years, but the issue has been elevated to an all-time high over the past year, said James A. McCarthy, president and chief executive officer of the North American Millers’ Association.

“Obviously the Food and Drug Administration flour recalls are the principal issue that we are focused on,” Mr. McCarthy told Milling & Baking News, a sister publication of World Grain, in an interview ...

MANHATTAN, KANSAS, U.S. — Back-to-back flour milling courses were hosted at the IGP Institute to bring different milling perspectives shared through training to create a dynamic learning environment.

Kicking off the training was the International Association of Operative Millers (IAOM) and Kansas State University’s (KSU) basic milling principles course held for 18 participants from five countries. Participants studied an array of topics within the umbrella of the milling industry.

They were able to utilize hands-on training as well as classroom lectures to ...

MINNEAPOLIS, MINNESOTA, U.S. — The World Food Programme (WFP) Innovation Accelerator and Cargill are teaming up to help three start-ups tackle hunger.

In May, the two organizations hosted, supported and mentored eight teams of entrepreneurs working to fight world hunger. Now, they’re moving forward with additional funding and support for three start-ups:

Sanku: a nonprofit social enterprise that provides small-scale maize millers in Africa with smart technology to fortify their flour without passing the costs on to consumers.
BioAnalyt: a portable tool ...

WHITE PLAINS, NEW YORK, U.S. — Despite significant accounting charges related to the company’s portfolio restructuring and headquarters relocation that dragged down financials, Bunge’s core business exceeded the company’s expectations for the third quarter, said Gregory A. Heckman, chief executive officer of the White Plains-based company.

“I don’t know that we could see a much more difficult environment than we’ve seen,” Heckman noted during an Oct. 30 conference call with analysts. “You can stack ASF (African swine fever), the on-again/off-again trade ...