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Cargill on its way to best-ever year


By Javier Blas and Michael Hirtzer
Cargill Inc., the commodity superpower that’s the largest private U.S. company, is emerging as one of the biggest winners of the boom in global agricultural markets as it barrels toward its most profitable year ever in its 156-year run.
The company made almost $4.3 billion in net income during the first nine months of its fiscal year, according to data released by the trading house to tap the bond market. That figure already surpasses its best ever total annual profit.
Many in the market suspected that Cargill was performing well in the commodity boom, but this is the first time that actual data has become available. Cargill broke with a more than two-decade tradition in 2020 and stopped releasing its results publicly. It still shares financial results with its bankers and others. Ahead of a bond sale last week, the company opened its books to credit investors and credit rating agencies, disclosing the extent of its earnings. ....

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Green-Fuel Push Stirs Food Inflation Fears in Rebound From Virus - Governors' Wind Energy Coalition


Green-Fuel Push Stirs Food Inflation Fears in Rebound From Virus
Source: By Kim Chipman, Bloomberg • Posted: Sunday, May 23, 2021
Oil refiners’ attempt to clean up their act is bumping into growing concerns over food prices and supplies as nations seek to get back on their feet.
The push to fight climate change with greener fuels is colliding with another challenge facing the world as it struggles to emerge from the pandemic: skyrocketing food prices.
Soaring demand for crops has once again raised the question of whether nations should really depend on ethanol and renewable diesel to save the planet from global warming. Corn, soybeans, palm oil and sugar, which are increasingly processed into biofuels worldwide, are part of a staggering commodities rally that’s making everything from animal feed and noodles to taco shells and chocolate more expensive, putting central bankers worldwide in a tough spot between fighting inflation a ....

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