Top U.S. grains merchant Archer Daniels Midland Co has proposed a takeover of Bunge Ltd, the Wall Street Journal reported on Friday, a move that could set up a battle for Bunge with Switzerland-based rival Glencore Plc.
Throughout U.S. farm country tariffs on steel and aluminum imports are boosting costs for equipment and infrastructure and causing some farmers and agricultural firms to scrap purchases and expansion plans.
U.S. President Trump said last week he would reconsider joining the landmark Trans-Pacific Partnership (TPP) trade agreement, if it were a “substantially better” deal than the one offered to President Obama.
House and Senate negotiators have reached a deal on a 2018 farm bill. That agreement now awaits scoring from the Congressional Budget Office to make sure it meets fiscal constraints for farm bill funding.