US Green Fuel Push Threatens Argentina's Main Export Market [Financial Post (Toronto, Ontario, Canada)]
Bunge Limited Common Shares (BG)
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Source: Financial Post
(Bloomberg) — A push by the US into green diesel poses a threat to Argentina's biggest export. The vast amounts of soybeans set to be crushed for its oil — a key feedstock in making renewable diesel — will create piles of co-product meal in the US. Much of the excess supply will be shipped overseas, eroding prices for the widely used animal feed ingredient. Article content It's the latest demonstration of how the Biden administration's landmark decarbonization plan — and the huge subsidies it offers to all forms of green energy — has the potential to cause tectonic shifts in global agricultural markets. And it's a blow for Argentina's troubled economy and its farmers, who are already facing fierce competition from neighbouring agriculture powerhouse Brazil. Article content “We're going to suffer in both market and prices,” said Gustavo Idigoras, who heads Argentina's crushing industry group Ciara, which represents companies such as Cargill Inc., Archer-Daniels-Midland Co. a
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News
- Soaring Imports of Green Diesel Feedstocks Disrupt US Soy Market [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Soaring Imports of Green Diesel Feedstocks Disrupt US Soy Market [BNN Bloomberg (Canada)]BNN Bloomberg
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- Bunge Global SA's (NYSE:BG) Stock's On An Uptrend: Are Strong Financials Guiding The Market? [Yahoo! Finance]Yahoo! Finance
- Bunge Profit Tops Estimates as Crop Trader Weathers Downturn [Financial Post (Toronto, Ontario, Canada)]Financial Post
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Earnings
- 4/24/24 - Beat
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Sec Filings
- 4/24/24 - Form 10-Q
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