Bunge Could be the Largest Grain Buyer in Canada

Feb 14, 2024

The proposed merger between Bunge and Viterra could drastically shift grain marketing for Canadian farmers for years to come. Initially announced in June of 2023, and expected to be completed mid-2024, the merger has come under scrutiny here in Canada and abroad.

The Competition Bureau of Canada and Transport Canada are currently going through the regulatory review process to look at the impact this merger would have on the market competitiveness of grain elevator access for growers and export capacity through the Canadian grain transportation system.

Bunge operates many grains processing facilities globally including 56 oilseed crushing facilities, 17 grain mills, and 47 refineries. The acquisition of 67 Viterra primary elevators in Canada complements Bunge’s value-added grain processing business units by increasing their ability to acquire grains such as canola for crushing and wheat for milling. This deal would catapult Bunge ahead of other major primary grain buying companies in Canada, like Richardson and Cargill by giving them an ownership stake of approximately 33% of Canadian primary elevator capacity.

This consolidation will not only have a ripple effect across the Prairies but also globally affect the dynamics of grain trade. There are concerns relating to the loss of regional competition from primary elevator ownership, and the potential for elevators to be closed or sold off. Analysis over the number of ports Bunge would have an ownership stake in, and the role their non-controlling in G3 Canada Limited is still ongoing.

The provincial canola commissions are working with government regulators, as well as industry representatives to ensure that the voice of farmers is considered when assessing the pros and cons of this merger between Bunge and Viterra.

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Video: Spring 2026 weather outlook for Wisconsin; What an early-arriving El Niño could mean

Northeast Wisconsin is a small corner of the world, but our weather is still affected by what happens across the globe.

That includes in the equatorial Pacific, where changes between El Niño and La Niña play a role in the weather here -- and boy, have there been some abrupt changes as of late.

El Niño and La Niña are the two phases of what is collectively known as the El Niño Southern Oscillation, or ENSO for short. These are the swings back and forth from unusually warm to unusually cold sea surface temperatures in the Pacific Ocean along the equator.

Since this past September, we have been in a weak La Niña, which means water temperatures near the Eastern Pacific equator have been cooler than usual. That's where we're at right now.

Even last fall, the long-term outlook suggested a return to neutral conditions by spring and potentially El Niño conditions by summer.

But there are some signs this may be happening faster than usual, which could accelerate the onset of El Niño.

Over the last few weeks, unusually strong bursts of westerly winds farther west in the Pacific -- where sea surface temperatures are warmer than average -- have been observed. There is a chance that this could accelerate the warming of those eastern Pacific waters and potentially push us into El Niño sooner than usual.

If we do enter El Nino by spring -- which we'll define as the period of March, April and May -- there are some long-term correlations with our weather here in Northeast Wisconsin.

Looking at a map of anomalously warm weather, most of the upper Great Lakes doesn't show a strong correlation, but in general, the northern tiers of the United States do tend to lean to that direction.

The stronger correlation is with precipitation. El Niño conditions in spring have historically come with a higher risk of very dry weather over that time frame, so this will definitely be a transition we'll have to watch closely as we move out of winter.