Agrium Hopes to Complete Purchase of Viterra Stores by Early 2013

Sep 19, 2012

Agrium to Buy Former Viterra Stores from Glencore Inc.

According to Agrium’s Chief Executive Mike Wilson, Agrium Inc. is expected to finalize the purchase of the majority of Viterra’s Canadian and Australian farm supply stores by the end of 2012 or early 2013. Agrium is the largest U.S farm retail supplier and is paying approximately $575 million (CAD) for most of the retail outlets, which sell chemicals, seeds and fertilizers directly to farmers.

Swiss-based Glencore International Plc. is expected to complete its takeover of Viterra later this month. Richardsons International Ltd. will also purchase some of Viterra’s crop-processing sites and grain-handling elevators after Glencore’s takeover of Viterra is finalized.

With the exception of China’s Ministry of Commerce, which is still in the review process of the transaction, the Glencore – Viterra deal has received approvals from regulatory authorities; however, the purchase of Glencore assets by Agrium and Richradson’s still awaits approval from the Canada’s Competition Bureau.

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
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More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
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