Cargill Inc. announced a major reshuffling of its top executives Thursday following the appointment of a new chief operating officer who appears poised to become the future CEO. Brian Sikes, who has led the company's global protein and salt enterprise for the past two years, was recently appointed chief operating officer. He is the first person to take that role since Dave MacLennan, Cargill's .
Corn Declines After U.S. Cuts Supply Outlook Less Than Forecast
Bloomberg 2/9/2021 Kim Chipman, Tatiana Freitas and Michael Hirtzer
(Bloomberg) Corn futures fell from a seven-year high after the U.S. trimmed its estimate for domestic inventory less than expected following a record Chinese buying binge.
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The U.S. Department of Agriculture cut its ending-stock outlook for the current season to 1.5 billion bushels from the January forecast of 1.55 billion, figures from a monthly report showed Tuesday. Analysts surveyed by Bloomberg expected an 11% drop to 1.38 billion.
China’s ravenous appetite for grain, coupled with harvest delays in South America, boosted concerns that supplies in U.S. silos are dwindling. The inventory woes have sent corn, wheat and soybean futures to multiyear highs. The Asian nation’s buying spree isn’t over, Cargill Inc. said last week.
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