Corporate market news for Mar 2005 Smithfield Sales, Profits RiseNEW YORK - Mar 1/05 - SNS -- Smithfield Foods, Inc. reported an operating profit of U.S. $182.8 million on sales of $3,060.1 million during the third quarter ending January 30, a solid improvement on last year's $97.6 million profit on sales of $2,703.7 million. . . . Continue or visitors click here USWA Ratifies CN Labor ContractTORONTO - Mar 1/05 - SNS -- Members of the United Steelworkers of America (USWA) ratified a new four-year labor contract with CN rail. . . . Continue or visitors click here ADM Expands German Soft Oilseed CapacityNEW YORK - Mar 1/05 - SNS -- ADM will expand its sot oilseed crushing capacity in Oelmuhle Hamburg AG by converting some soybean capacity to rapeseed. . . . Continue or visitors click here CBOT Reports Record February VolumeCHICAGO - Mar 1/05 - SNS -- The Chicago Board of Trade (CBOT) says 61,399,407 contracts changed hands in February for a 40.1% from 2004 and 36% from January. Volume was a new monthly record for the CBOT, surpassing the previous record of 59,467,507 contracts set in November 2004. . . . Continue or visitors click here ACCC Not Opposing Fertilizer VentureSYDNEY - Mar 2/05 - SNS -- The proposed fertilizer joint venture between Futuris Ltd and AWB Ltd (and their subsidiaries Elders and Landmark) will not be opposed by the Australian Competition and Consumer Commission (ACCC). . . . Continue or visitors click here Noble To Issue Senior NotesHONG KONG - Mar 2/05 - SNS -- Noble Group Limited plans to make a global offering of $500 million of US denominated senior notes due 2015. . . . Continue or visitors click here Australia's National Foods Bid AllowedSYDNEY - Mar 2/05 - SNS -- San Miguel Corporation can proceed with its bid for National Foods Limited, now that the Australian Competition and Consumer Commission (ACCC) says it will not intervene. . . . Continue or visitors click here KCBT Sets Volume RecordKANSAS CITY - Mar 2/05 - SNS -- The Kansas City Board of Trade saw a record volume of wheat futures trading in February, with 345,923 contracts changing hands, up 6.4% from the previous record of 325,246 contracts that was set in November 2004. . . . Continue or visitors click here Monsanto Buys NC+ HybridsNEW YORK - Mar 2/05 - SNS -- Monsanto Company's American Seeds, Inc. (ASI) paid U.S. $40 million cash for NC+ Hybrids, Inc., headquartered in Lincoln, Nebraska. . . . Continue or visitors click here Bayer Generates Fiscal 2004 ProfitLONDON - Mar 2/05 - SNS -- Provisional results for the 2004 fiscal year reveal experienced a net income of Euro 603 million on sales of Euro 29,758 million across the 2004 fiscal year, compared to a loss of Euro 1,361 on sales of Euro 28,567 million infiscal 2003. . . . Continue or visitors click here Dow, ABED Canola AgreementNEW YORK - Mar 2/05 - SNS -- Dow AgroSciences Danmark A/S and ABED FONDEN (ABED Foundation or ABED) reached an agreement to support the research and development of Dow AgroSciences' Nexera canola seed and Natreon canola oil business. . . . Continue or visitors click here Dole Costa Rica Gets SA8000 CertificationNEW YORK - Mar 2/05 - SNS -- Banana farms in Costa Rica owned by Dole Food Company, Inc. have been certified to the Social Accountability International SA 8000 work place and human rights standard. The company-owned El Bosque pineapple plantation also received its SA 8000 certification. . . . Continue or visitors click here Record Month at MGEXMINNEAPOLIS - Mar 2/05 - SNS -- The Minneapolis Grain Exchange (MGEX) reported record trading volume during February, consistent with the experience of other major exchanges in the United States. . . . Continue or visitors click here Del Monte Profit Down 9%NEW YORK - Mar 3/05 - SNS -- Del Monte Foods Company reported a net income of U.S. $48.5 million on net sales of $861.3 million for the third quarter ending January 30, down from a net of $53.5 million on sales of $811.6 million during the same period of the previous fiscal year. . . . Continue or visitors click here Monsanto Supports Canadian Foodgrains BankWINNIPEG - Mar 3/05 - SNS -- Monsanto Canada will again offer up to CDN $100,000 worth of agricultural inputs for Canadian Foodgrains Bank community growing projects. . . . Continue or visitors click here CBOT Board Members ElectedCHICAGO - Mar 3/05 - SNS -- The Chicago Board of Trade (CBOT) re-elected Charles P. Carey to a second consecutive two-year term as Chairman of the Board of Directors. . . . Continue or visitors click here SWP Has New Grain Volume InsuranceREGINA - Mar 3/05 - SNS -- The Saskatchewan Wheat Pool (SWP) opened a new grain volume insurance policy for fiscal 2006 through Toronto-based reinsurance brokerage Aon Re Canada Inc., a unit of Aon Corporation. . . . Continue or visitors click here Scoular Buys Barge Loading FacilityNEW YORK - Mar 4/05 - SNS -- Scoular Company bought a bulk grain-handling terminal in Helena, Arkansas from Kinder Morgan, Incorporated. . . . Continue or visitors click here Help Wanted: MGEX PresidentMINNEAPOLIS - Mar 4/05 - SNS -- The Minneapolis Grain Exchange (MGEX) is looking for a new President/Chief Executive Officer. . . . Continue or visitors click here Monsanto Joins Indy 500 Team EthanolNEW YORK - Mar 4/05 - SNS -- Monsanto Company is joining forces with the Indy Racing League and Team Ethanol to raise consumer awareness about ethanol and its use as a renewable energy resource. . . . Continue or visitors click here Potato Board Members NamedWASHINGTON - Mar 4/05 - SNS - The USDA appointed 32 producer members to serve on the U.S. Department of Agriculture’s National Potato Promotion Board. . . . Continue or visitors click here ADM Profits From Share SaleNEW YORK - Mar 7/05 - SNS -- Archer Daniels Midland Company sold its 27.9 million share interest in Tate & Lyle PLC for $271 million. . . . Continue or visitors click here Poultry Litter PactNEW YORK - Mar 8/05 - SNS -- Regenerated Resources LLC has reached an agreement with Tyson Foods and Simmons Foods to convert their poultry litter into commercial fertilizer products sold under the Organic-Gro brand. . . . Continue or visitors click here Scoular Buys Kansas FacilityNEW YORK - Mar 8/05 - SNS -- The Scoular Company bought the Sullivan, Incorporated grain elevator facility in Coolidge, Kansas for an undisclosed sum. . . . Continue or visitors click here Monsanto Wins Civil Antitrust ActionNEW YORK - Mar 8/05 - SNS -- Monsanto Company expressed pleasure with yesterday's decision by the U.S. Court of Appeals for the 8th Circuit to refuse to certify an antitrust class action suit levied against Monsanto and other companies over biotechnology seed products sold to U.S. farmers. . . . Continue or visitors click here Cargill Targets Pectin BusinessNEW YORK - Mar 8/05 - SNS -- Cargill intends to buy the global pectin business of Citrico, a manufacturer and international supplier of citrus products for the food, beverage and pharmaceutical industries. The deal is subject to regulatory approval. . . . Continue or visitors click here CN Names Harris Executive VP OperationsTORONTO - Mar 8/05 - SNS -- CN promoted Ed Harris from senior to executive vice-president, operations. . . . Continue or visitors click here Heinz Declares DividendNEW YORK - Mar 9/05 - SNS -- The H. J. Heinz Company declared quarterly dividends on both common and preferred stock. . . . Continue or visitors click here Cargill Launches Whole Grain Corn LineNEW YORK - Mar 9/05 - SNS -- Cargill Dry Corn Ingredients launched the MaizeWise line of whole-grain corn and corn-bran products for use by food manufacturers. . . . Continue or visitors click here Calavo Growers Declares Q1 LossNEW YORK - Mar 9/05 - SNS -- Calavo Growers, Inc. reported a net loss of U.S. $1.5 million on sales of $47.7 million for the first quarter ending January 31 of the 2005 fiscal year, compared to a net loss of $294,000 on sales of $49.0 million last year. . . . Continue or visitors click here Agricore United Dividend DeclaredTORONTO - Mar 10/05 - SNS -- Agricore United declared a quarterly dividend of $0.03 per share on the Limited Voting Common Shares. . . . Continue or visitors click here SWP Declares $893,000 Quarterly LossTORONTO - Mar 10/05 - SNS -- The Saskatchewan Wheat Pool (SWP) reported a net loss of CDN $893,000 on sales of $322.3 million during the second quarter ending January 31, compared to a net loss of $4,789,000 on sales of $326.2 million during the same quarter in the previous fiscal year. . . . Continue or visitors click here Agricore Loss Widens to $19.5 MillionTORONTO - Mar 10/05 - SNS -- Agricore United reported a loss of CDN $19.5 million on gross revenue of $548.1 million for the first quarter ending January 31, compared to a net loss of $13.6 million on sales of $650.98 million the previous fiscal year. . . . Continue or visitors click here Agricore's Grain Handle ImprovesTORONTO - Mar 10/05 - SNS -- Agricore United says its share of western Canada's grain handle increased during the quarter ending January 31, rising from 33.1% during the same three-month period of the 2003-04 marketing year to 34.8% this season. . . . Continue or visitors click here Whalen Green Mountain VP MarketingNEW YORK - Mar 10/05 - SNS -- Green Mountain Coffee Roasters, Inc. named T.J. Whalen as Vice President of Marketing, effective March 14, 2005. . . . Continue or visitors click here SWP Optimistic About Market ShareTORONTO - Mar 10/05 - SNS -- The Saskatchewan Wheat Pool (SW) is on track to both increase its total grain handles in 2004-05, but to expand its share of the market, the company suggests in its latest quarterly statement. . . . Continue or visitors click here AWB Selects DirectorsSYDNEY - Mar 10/05 - SNS -- Australia' wheat marketing board, AWB Limited re-elected five directors and appointed two new directors to the Board of AWB Limited at its Annual General Meeting. . . . Continue or visitors click here Rogers Sugar Fund Issues DebenturesTORONTO - Mar 10/05 - SNS -- Rogers Sugar Income Fund is making a public offering, on a bought deal basis, of $50 million principal amount of convertible unsecured subordinated debentures with a coupon of 6% per annum, payable semi-annually on June 29 and December 29, commencing on June 29, 2005. . . . Continue or visitors click here Wheaties Becomes Baseball's Official BreakfastNEW YORK - Mar 10/05 - SNS -- General Mills entered a two-year sponsorship agreement with Major League Baseball Properties (MLBP) which will make Wheaties the "Official Breakfast Cereal" of Major League Baseball. . . . Continue or visitors click here Hot House Growers Report LossTORONTO - Mar 10/05 - SNS -- Hot House Growers Income Fund reported a fourth quarter loss of CDN $24.69 million on revenue of $9.907 million, resulting in a fiscal 2004 loss of $21.498 million on revenues of $52.002 million. . . . Continue or visitors click here SWP Completes Financing ArrangementsTORONTO - Mar 14/05 - SNS -- The Saskatchewan Wheat Pool (SWP) finalized details of new financing arrangements announced on December 14, 2004. . . . Continue or visitors click here Chiquita Extends Notes OfferNEW YORK - Mar 14/05 - SNS -- Chiquita Brands International, Inc. has extended its offer to the holders of $250 million of its 7-1/2% Senior Notes due 2014 to exchange such notes for a like principal amount of notes that have been registered under the Securities Act of 1933, as amended. . . . Continue or visitors click here Mitsubishi Buys Into Ensuiko SugarNEW YORK - Mar 15/05 - SNS -- Mitsubishi Corp. will buy a 24% interest in Japan's Ensuiko Sugar Refining Co. from the Japanese seafood company, Maruha Group Inc. . . . Continue or visitors click here Coke Buys Russian Juice MakerNEW YORK - Mar 15/05 - SNS -- Coca-Cola Co.'s Russian affiliate Star Bottling Ltd. received approval from the country's Antimonopoly Committee to buy the juice maker Multon. . . . Continue or visitors click here Rogers Sugar Fund DistributionTORONTO - Mar 15/05 - SNS -- Rogers Sugar Income Fund's trustees have authorized a monthly distribution of $0.0334 per trust unit. . . . Continue or visitors click here Ag Growth Buys Edwards AerationTORONTO - Mar 15/05 - SNS -- Ag Growth Income Fund has agreed to pay CDN $20 million for most of the assets of The Edwards Group of Companies. . . . Continue or visitors click here Andersons Inc Declares DividendNEW YORK - Mar 15/05 - SNS -- The Andersons, Inc. declared a cash dividend of 8 cents per share. . . . Continue or visitors click here Agricore Renews Financing LinesTORONTO - Mar 16/05 - SNS -- Agricore United renewed its revolving credit facilities with its bank syndicate. . . . Continue or visitors click here CN Union to Delay Strike or Lock OutTORONTO - Mar 16/05 - SNS -- CN and the Teamsters Canada Rail Conference (TCRC) have agreed to delay any strike or lock out action until after May 12 to give them more time to negotiate a contract agreement. . . . Continue or visitors click here Chiquita Names Corporate OfficersNEW YORK - Mar 17/05 - SNS -- Chiquita Brands International, Inc. says Manuel Rodriguez, senior vice president of government and international affairs, will assume an additional role as the company's corporate responsibility officer (CRO). . . . Continue or visitors click here ADM Expands NovaLipid ProductionNEW YORK - Mar 17/05 - SNS -- Archer Daniels Midland Company will expand NovaLipid production by adding capacity at its Mankato, Minnesota enzyme interesterification facility. . . . Continue or visitors click here SWP Names Miller VP MerchandisingTORONTO - Mar 17/05 - SNS -- The Saskatchewan Wheat Pool (SWP ) named Robert Miller to the Pool's management team as the Vice-President of Merchandising for the Grain Group. . . . Continue or visitors click here Cargill Relabels CoroWiseNEW YORK - Mar 17/05 - SNS -- Cargill Health & Food Technologies (H&FT) designed a new logo for plant sterols marketed under the CoroWise Naturally Sourced Cholesterol Reducer brand. . . . Continue or visitors click here CBOT Sets Open Interest RecordCHICAGO - Mar 17/05 - SNS -- The Chicago Board of Trade (CBOT) set an exchange-wide open interest record on March 16 of 13,583,836 contracts, exceeding the previous record of 13,481,427 contracts set on February 17. . . . Continue or visitors click here Kellogg Plans Plant ClosuresNEW YORK - Mar 17/05 - SNS -- Kellogg Company will likely close its Keebler bakeries in Macon, Georgia and Des Plaines, Illinois. . . . Continue or visitors click here Petra Considers Ghana Cocoa PlantHONG KONG - Mar 18/05 - SNS -- Singapore's Petra Foods Limited is believed to be in preliminary discussions with government officials in Ghana about prospects of building a cocoa processing plant there. . . . Continue or visitors click here CWB Puts $400,000 Into Storage ResearchWINNIPEG - Mar 18/05 - SNS -- The Canadian Wheat Board (CWB) is spending CDN $400,000 to help fund a grain storage research facility at the University of Manitoba. . . . Continue or visitors click here Chiquita Funds Fresh Express Buy With NotesNEW YORK - Mar 18/05 - SNS -- Chiquita Brands International, Inc. plans to offer $150 million aggregate principal amount of Senior Notes and $75 million aggregate liquidation amount of convertible perpetual preferred stock. The preferred stock will be convertible into the company's common stock. . . . Continue or visitors click here Saputo to Buy Fromage Cote S.A.TORONTO - Mar 18/05 - SNS -- Fromage Cote S.A. and Distributions Kingsey Inc. will sell Saputo Inc. their manufacturing, marketing and distribution activities for their pressed cheddar and cheddar cheese curd, Swiss-type cheese and other specialty cheeses sold under the brand names Kingsey, Princesse, Sir Laurier d'Arthabaska and Du Village de Warwick. . . . Continue or visitors click here Imperial Expands Marketing AgreementNEW YORK - Mar 18/05 - SNS -- Imperial Sugar Company's relationship with Advantage Sales and Marketing is being expanded to include Advantage's representation of the Company's strong Imperial and Dixie Crystal brands to include various markets in Texas, Alabama, South Carolina and Tennessee. . . . Continue or visitors click here ED&F Man Forms Organic Supply CompanyNEW YORK - Mar 21/05 - SNS -- ED&F Man has formed Corigins to supply ingredients to the organic and natural foods sector. . . . Continue or visitors click here Gold Kist Share Offer PlannedNEW YORK - Mar 21/05 - SNS -- Gold Kist Inc. may file a registration statement on Form S-1 with the Securities and Exchange Commission during the second calendar quarter of 2005 related to a proposed secondary offering of shares of its common stock received by former members of the Gold Kist cooperative in the Company's conversion to a for-profit corporation on October 13, 2004. . . . Continue or visitors click here Hormell Buys Lloyd's BBQNEW YORK - Mar 21/05 - SNS -- General Mills, Inc. will sell its Lloyd's barbecue business to the Hormel Foods Corporation for an undisclosed amount. . . . Continue or visitors click here CGC Re-Appoints TousignantWINNIPEG - Mar 22/05 - SNS -- The Canadian Grain Commission (CGC) re-appointed Henri Tousignant as assistant commissioner for the Eastern Region for a three-year term. . . . Continue or visitors click here General Mills Profits Down 5%NEW YORK - Mar 22/05 - SNS -- General Mills, Inc. reported net earnings of U.S. $230 million on sales of $2,772 million during the third quarter ending February 27, compared to net earnings of $242 million on sales of $2,703 million during the same quarter the previous fiscal year. . . . Continue or visitors click here Vanilla Long Hurts McCormick ProfitsNEW YORK - Mar 22/05 - SNS -- McCormick & Company, Incorporated reported net income of U.S. $36 million on sales of $603.6 million during the first quarter ending February 28, compared to net earnings of $38 million on sales of $572.4 million during the same quarter the previous fiscal year. . . . Continue or visitors click here Monsanto Declares DividendNEW YORK - Mar 22/05 - SNS -- Monsanto Company declared a quarterly dividend on its common stock of 17 cents per share. . . . Continue or visitors click here Heinz Buys Appetizers And, Inc.NEW YORK - Mar 22/05 - SNS -- H.J. Heinz Company's Foodservice Division paid an undisclosed amount to buy Chicago-based Appetizers And, Inc. (AAI), a manufacturer and marketer of frozen hors d'oeuvres for the foodservice industry. . . . Continue or visitors click here Noble Joins IndexesHONG KONG - Mar 23/05 - SNS -- Noble Group is among five new companies used to calculate the FTSE/Hang Seng Basic Industries Index. . . . Continue or visitors click here General Mills Offers 6% NotesNEW YORK - Mar 23/05 - SNS -- General Mills, Inc. will offer up to $500 million aggregate principal amount of its outstanding 6% notes due 2012 (CUSIP No. 370334AS3). . . . Continue or visitors click here Cargill Cleared to Buy PagnanBRUSSELS - Mar 23/05 - SNS -- The European Commission approved Cargill's proposed acquisition of the importing and trading business of Pagnan S.p.A. . . . Continue or visitors click here Monsanto Completes Seminis PurchaseNEW YORK - Mar 23/05 - SNS -- Monsanto Company completed the acquisition of Seminis, Inc, which will continue to operate from its offices in Oxnard, California. . . . Continue or visitors click here SWP Share Restructure ApprovedREGINA - Mart 23/05 - SNS -- Class B Non-Voting Shareholders approved the Saskatchewan Wheat Pool's (SWP) recapitalization plan to continue under the Canada Business Corporations Act (CBCA) with a single class of voting Common Shares. . . . Continue or visitors click here O'Connor Joins MGPI Management TeamNEW YORK - Mar 23./05 - SNS -- MGP Ingredients, Inc. named Mary Kay O'Connor general manager of the company's personal care ingredients and biopolymer businesses. . . . Continue or visitors click here All Shareholders Approve SWP Recapitalization PlanREGINA - Mar 23/05 - SNS -- All shareholder groups have approved the Saskatchewan Wheat Pool's recapitalization plan. . . . Continue or visitors click here Lance Buys Canadian Cookie PlantNEW YORK - Mar 23/05 - SNS -- Lance, Inc. will buy the A&M Cookie Company Canada sugar wafer manufacturing plant in Cambridge, Ontario under undisclosed terms. . . . Continue or visitors click here McCormick Declares DividendNEW YORK - Mar 23/05 - SNS -- McCormick & Company, Incorporated declared a quarterly dividend of $0.16 per share on its common stocks. . . . Continue or visitors click here Monsanto Buys Icoria Ag AssetsNEW YORK - Mar 24/05 - SNS -- Monsanto Company bought selected agricultural assets of biotechnology research company Icoria, Inc. for $6.75 million in cash, installment and milestone payments, plus additional considerations. . . . Continue or visitors click here ConAgra Reports Unchanged Pretax ProfitNEW YORK - Mar 24/05 - SNS -- ConAgra Foods Inc. reported a pretax income of U.S. $314.1 million on sales of $3,569.9 million for the third quarter ending February 27, compared to a pretax income of $314.1 million on sales of $3.525.5 million during the same quarter of the previous fiscal year. ConAgra estimates after tax profits for the quarter as $160. 2 million. . . . Continue or visitors click here SWP Formally Ceases to be CooperativeREGINA - Mar 24/05 - SNS -- Created as a farmer owned co-operative on August 25, 1923, with one member having one vote -- the Saskatchewan Wheat Pool (SWP) has formally transformed itself from a co-operative to an ordinary federal corporation. . . . Continue or visitors click here Campbell Declares DividendNEW YORK - Mar 24/05 - SNS -- Campbell Soup Company declared a regular quarterly dividend on its capital stock of $.17 per share. . . . Continue or visitors click here Bunge Building Russian Crushing PlantNEW YORK - Mar 30/05 - SNS -- Bunge Limited intends to build a sunflower seed crushing and refining plant in Voronezh, Russia. . . . Continue or visitors click here Del Monte Appoints Lund to BoardNEW YORK - Mar 31/05 - SNS -- Del Monte Foods Company appointed Victor L. Lund to its Board of Directors. . . . Continue or visitors click here Rogers Sugar Fills Debenture OfferTORONTO - Mar 31/05 - SNS -- Rogers Sugar Income Fund completed its public offering of $50 million principal amount of 6.00% convertible unsecured subordinated debentures. . . . Continue or visitors click here
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