Bunge’s proposed merger with Glencore’s Viterra would be the largest grain trading deal in over a decade, creating a global agricultural commodity goliath to rival industry leaders Archer-Daniels-Midland and Cargill.
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Last week, The Wall Street Journal reported that U.S. and Chinese trade officials reached a deal to lift China’s five-year ban on U.S. poultry imports in exchange for the U.S. allowing more Chinese cooked chicken and seafood products.
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A recent study documenting consolidation and specialization in Alaska’s fisheries over the past three decades illustrates a broader trend taking hold in coastal communities across the country. Catch share programs, a new fisheries management system, are turning fishing rights into tradable commodities, driving up the cost to fish and consolidating fishing rights into the hands of a few wealthy owners.
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In July, the public learned that Goldman Sachs and several other large banks have morphed into giant merchants of physical goods, routinely shipping oil, running power plants, and amassing stocks of metals so large that Coca Cola accused them of hoarding. It was a disconcerting moment, as regulators realized that firms so recently known for their explosive mortgage-backed securities also deal in goods that can literally explode.But that was only half the story.
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