Barge freight costs for moving grains in the Midwestern United States spiked on Thursday due to ongoing logistical problems more than two weeks after Hurricane Ida, while CHS Inc (CHSCL) said the timeline to reopen its terminal remains uncertain.
Farmer cooperative and grain trader CHS
Inc (CHSCL) said Thursday it expects its Myrtle Grove, Louisiana, grain export terminal to be operational by the height of the U.S. corn and soy harvest after Hurricane Ida damaged the facility last month. The exact recovery timeline for the terminal, which unloads grain barges and loads ocean-going vessels for export, remains uncertain, CHA said.
Willamette Valley Vineyards Inc (WVVI) : * WILLAMETTE VALLEY VINEYARDS APPOINTS GREG URMINI AS DIRECTOR OF WINEMAKING & VINEYARDS Source text for Eikon: Further company coverage:
U.S. grain merchant Archer-Daniels-Midland Co (ADM) said on Wednesday that it had launched a new flavour production facility in China to meet growing demand for beverages and healthy foods. The new facility - ADM Food Technology Co Ltd, located in the eastern province of Zhejiang and about one hour away from Shanghai - marks a further expansion by the global grains trader in the nutrition segment.
Another grain export terminal near Louisiana's Gulf Coast shuttered for two weeks by Hurricane Ida restarted operations this week even as heavy rains from Tropical Storm Nicholas battered the region on Tuesday.
Global grain trader Cargill Inc restarted its Westwego, Louisiana, grain export terminal and on Monday unloaded its first grain barge since Hurricane Ida shuttered the facility two weeks ago, the company said on Tuesday.
Brazil's port regulator targeted the local unit of global grains merchant Bunge (BG) and two port agents in an investigation announced on Tuesday, threatening the trader's dominant position at a key export hub in the south of the country.
The Brazilian unit of global grain merchant Bunge (BG) and two port agents will be targeted in an investigation ordered by national port regulator Antaq, according to a regulatory decision in the federal gazette on Tuesday.
- Indonesia's exports and imports likely continued to surge in August, driven by high prices of the country's main commodities like coal and palm oil, a Reuters poll showed on Tuesday. A survey of 18 economists forecast the economy's August trade surplus had shrunk to $2.36 billion from $2.59 billion in July.
JBS USA on Monday halted production at a Nebraska beef plant that slaughters about 5% of U.S. cattle due to a fire, but said the company expects to resume operations on Tuesday.
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