Deere & Co. (John Deere) revised its forecast for the current fiscal year lower in its Q3 earnings report released August 14, another sign of softening demand for the market leader and the entire ag machinery sector due to farm income concerns and mounting tariff costs. Key takeaways from the earnings report: Earnings guidance trimmed... Read More
Category: Ag Business
Genesis Fertilizers has found its new president and CEO. Derek Penner, former CEO of Monsanto Canada, has been hired to lead the fertilizer company that's raising funds to build a farmer-backed nitrogen fertilizer plant at Belle Plain, Saskatchewan. He replaces Jason Mann, who stepped down from the role last month. Penner has also been appointed... Read More
Bunge's takeover of Viterra is a done deal as of this week. While more than two years have passed since it was announced, there are still some big questions to be answered regarding the integration of the company with the most grain elevators in Canada into the company that owns the most oilseed crushing facilities... Read More
The takeover of Viterra by Bunge is complete, just over two years since it was first announced and just two weeks after clearing the final approval in China. On Wednesday, Bunge Global SA announced the merger with Viterra Limited officially closed, marking the creation of giant global agribusiness. "Today is a defining moment for our... Read More
The founder of Genesis Fertilizers has stepped down from his role leading the company that is planning to build a farmer-backed nitrogen fertilizer plant at Belle Plain, Saskatchewan. Jason Mann remains on the board as a director for Genesis, but has relinquished his titles of CEO, president, and board chair. In a June 20 notice... Read More
Saskatoon-based crop input supplier AgraCity has notified its farmer customers it is unable to fulfill outstanding orders for product that they've already paid for. "AgraCity has experienced some cash flow issues and has been in a process to refinance our business. This process has unfortunately taken much longer than expected and has resulted in product... Read More
The Canadian Agricultural Human Resource Council (CAHRC) has announced a partnership with the University of Guelph’s School of Continuing Studies (SCS) to deliver practical, industry-informed human resources (HR) training tailored specifically to farm and rural business operations. Through this collaboration, the University’s new Certificate in People Management will include a tailored elective stream, HR for... Read More
The former Merit Functional Foods plant protein facility that has sat vacant in Winnipeg, Man., since 2023 has been purchased out of receivership by the company's former co-CEOs. Ryan Bracken and Barry Tomiski's bid to buy the shuttered pea and canola processing facility was approved by the Manitoba Court of King's Bench, and closed as... Read More
An unnamed buyer has signed an agreement to purchase the former Merit Functional Foods plant protein processing facility in Winnipeg, Manitoba. The plant has sat vacant since Merit entered receivership in early 2023, owing $95 million to its two main creditors — Export Development Canada (EDC) and Farm Credit Canada (FCC). After discussions with multiple... Read More
John Deere has acquired Sentera, a provider of remote imagery solutions for agriculture, and plans to incorporate its camera and aerial scouting technology into the company's service offering. The acquisition of St. Paul, Minnesota-based Sentera will advance the capabilities of Deere's existing technology offerings, says its director of digital software and solutions, Chris Winkler. “Combining... Read More