Agrium Hopes to Complete Purchase of Viterra Stores by Early 2013

Sep 19, 2012

Agrium to Buy Former Viterra Stores from Glencore Inc.

According to Agrium’s Chief Executive Mike Wilson, Agrium Inc. is expected to finalize the purchase of the majority of Viterra’s Canadian and Australian farm supply stores by the end of 2012 or early 2013. Agrium is the largest U.S farm retail supplier and is paying approximately $575 million (CAD) for most of the retail outlets, which sell chemicals, seeds and fertilizers directly to farmers.

Swiss-based Glencore International Plc. is expected to complete its takeover of Viterra later this month. Richardsons International Ltd. will also purchase some of Viterra’s crop-processing sites and grain-handling elevators after Glencore’s takeover of Viterra is finalized.

With the exception of China’s Ministry of Commerce, which is still in the review process of the transaction, the Glencore – Viterra deal has received approvals from regulatory authorities; however, the purchase of Glencore assets by Agrium and Richradson’s still awaits approval from the Canada’s Competition Bureau.

Video: USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension

USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.