Post by Andrey Sizov
Helping grain traders, funds, and buyers to trade and manage their risk by providing consistent data and accurate analysis of the Black Sea wheat & corn markets. Check sizov.report for a trial. Ultramarathon runner.
Nobody wants to be in the agriculture business ☹️☹️ --- Reuters: #Glencore said on Wednesday that its long-term strategy could involve the sale of its 16.4% stake in enlarged global agribusiness #Bunge Global in the future. Glencore became the owner of the 16.4% stake after Bunge closed a long-delayed deal to merge with Glencore-backed #grain handler #Viterra in July, two years after announcing the $34 billion mega-deal. "The agriculture business is not necessarily consistent with our business model," Glencore CEO Gary Nagle told a media call on Wednesday after the company released its first-half financial results. "Having a 16.4% shareholding in Bunge is probably not something that would be for Glencore in the long term." #oatt
