Privately held Cargill Inc. reported net earnings of $1.1 billion for the latest quarter, up 23 percent from a year ago even as the company faces rising commodity prices. The agriculture company has been trimming expenses but also is on a buying spree, purchasing Unilever‘s condiments business in Brazil this year, along with other acquisitions. [...]
Egypt’s cabinet has approved an extra 10 billion Egyptian pounds ($1.7 billion) over the next three months to help slow rising food prices, the state news agency said on Wednesday. The draft supplement to finance subsidies in the budget that ends on June 30 will now be sent to the Supreme Council for Armed Forces [...]
Corn rose the most allowed by the Chicago Board of Trade as concerns mounted that food inflation will accelerate after the latest U.S. government forecasts on supplies and acreage. Soybeans and wheat also jumped. U.S. corn stockpiles at the beginning of March dropped to 6.52 billion bushels, the lowest for the date since 2007, the [...]
