Sylvite purchases Thompsons’ agronomy business from The Andersons Inc.

Aug 08, 2019

A message to our valued customers,

We are reaching out to inform you that The Andersons, Inc., the owner of Thompsons Limited, has signed an agreement to sell Thompsons’ agronomy business to Sylvite. Thompsons and Sylvite have been working together now for over 35 years and this collaboration is a great opportunity to have a larger retail network to benefit you, our customer. The Andersons will maintain ownership of Thompsons’ grain storage and food processing facilities and Sylvite will maintain and operate the farm inputs side at these locations.

z all our stakeholders, especially our customers. Our two companies share the same values and a strong commitment to serving Ontario farmers. We look forward to working together at our shared locations to provide the best possible service to our customers. Sylvite will focus on growing in agronomy products and services. Thompsons/The Andersons will enhance its focus and commitment on the grain and food products businesses.

The final details of this agreement are still being finalized by Sylvite and The Andersons. The sale is expected to close in early to mid-September. Between now and then, we will keep you updated with our progress to better serve you our customer. Our goal is to make this a seamless transition and maintain our normal business operations.

Thank you for the great working relationship we have shared over the years. We plan on continuing our successful partnership with you our valued customer. Should you have any questions, please don’t hesitate to contact your account representative.

Source : Thompsons

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!