By Karl Plume

(Reuters) – U.S. agribusiness Archer Daniels Midland (ADM.N: Quote, Profile, Research, Stock Buzz) did not submit a final bid for Canadian grain company Viterra (VT.TO: Quote, Profile, Research, Stock Buzz) after deeming the cost of an acquisition “would not meet our return objectives,” ADM CEO Patricia Woertz said on Tuesday.

Commodities trader Glencore (GLEN.L: Quote, Profile, Research, Stock Buzz) agreed to buy Viterra on Tuesday in a cash deal valuing the company at C$6.1 billion ($6.2 billion).

March 15 (Reuters) – Iran has purchased 60,000 tonnes
of U.S. wheat, the U.S. government said on Thursday,
raising the two-week tally to 180,000 tonnes, which industry
sources said reopened grain trade ties between the two countries
embroiled in a stand-off over Tehran’s nuclear ambitions.

Iran’s purchases of U.S. wheat this year are its first in
three years, and the sources said the OPEC member was close to
completing purchases of another 220,000 tonnes to be shipped as
early as April, and in talks with exporters to buy another
undisclosed amount.

CHICAGO, March 14 (Reuters) – U.S. soybean futures
climbed for a second consecutive session on Wednesday and hit a
5-1/2 month high as a drought-reduced South American crop and
port congestion was expected to bolster demand for thinning U.S.
supplies this summer.

Fund buying and chart-based buying above recent highs added
support at times, along with supportive U.S. soybean crushing
data released on Wednesday.

By Karl Plume and Marcy Nicholson

(Reuters) – Commodity brokers rushed on Friday to finish transferring thousands of customers from bankrupt rival MF Global, shifting their attention to the delicate task of ensuring new clients’ margins are topped up by next week.

Following a court order on Wednesday, the MF Global trustee has worked with the CME Group and a handful of other mostly independent futures commission merchants (FCMs) to move the bankrupt broker’s 50,000 or so commodity accounts in bulk to new clearing firms, along with 60 percent of collateral.

CHICAGO/NEW YORK (Reuters) – Commodity brokers raced on Friday to bring on board thousands of customers of bankrupt rival MF Global, facing a tight deadline to see that trading positions and collateral frozen since Monday are margined or liquidated.

Following a court order on Wednesday, the MF Global trustee has worked with the CME Group and a handful of other mostly independent futures commission merchants (FCMs) to move the bankrupt broker’s 50,000 or so commodity accounts in bulk to new clearing firms, along with 60 percent of collateral.

NEW YORK/CHICAGO (Reuters) – Call it the mother of all margin calls: Up to 50,000 former customers of bankrupt broker MF Global must post some $1 billion in additional collateral to new brokers almost overnight, or be forced out of their trades.

Come Friday, with the mass transfer of commodity trading accounts from Jon Corzine’s fallen firm to six of its erstwhile rivals, margin clerks will be wrapping up a reckoning of how much additional money is needed to cover millions of positions. Clients who can’t quickly meet their margin will have to liquidate, making for a tumultuous day’s trade.

NEW YORK/CHICAGO (Reuters) – Call it the mother of all margin calls: Up to 50,000 former customers of bankrupt broker MF Global must find some $1 billion in additional collateral almost overnight, or be forced out of their trades.

Come Friday, with the mass transfer of commodity trading accounts from Jon Corzine’s fallen firm to six of its erstwhile rivals, margin clerks will be wrapping up a reckoning of how much additional money is needed to cover millions of positions. Clients who can’t quickly meet their margin will have to liquidate, making for a tumultuous day’s trade.

By Karl Plume

(Reuters) – U.S. agribusiness Archer Daniels Midland Co (ADM.N: Quote, Profile, Research, Stock Buzz) boosted trading revenue last quarter, navigating choppy markets better than its rivals, but saw its profit slump on soaring corn prices and poor oilseed processing margins.

While volatile markets tripped up competitors Cargill CARG.UL and Bunge (BG.N: Quote, Profile, Research, Stock Buzz) in the global grains trade, ADM reported its grain merchandising and handling profits more than doubled as exports from the drought-hit Black Sea region resumed after a year-long hiatus.

Oct 27 (Reuters) – Agricultural processor Bunge Ltd’s third quarter profit fell 34 percent as drought-reduced
sugar milling volumes and hedging losses tied to a tumbling
Brazilian currency weighed on results.

Volatile commodities markets, whipsawed by global economic
uncertainty, also posed a risk management challenge for the
White Plains, New York-based company.

CHICAGO (Reuters) – For the first time in 40 years, U.S. corn exporters are not out-selling the rest of the world.

Domestic ethanol is sucking up record crops. Emerging suppliers like Brazil and Ukraine are taking export share, while traditional exporters like Argentina move to open new markets. And consumers worldwide are looking to save every penny, cutting shipping costs or using other types of feed.