Energy trading tamps down Cargill’s profit 41%

  • Article by: Mike Hughlett , Star Tribune
  • Updated: October 9, 2013 - 9:08 PM

Fiscal first-quarter earnings came under broad pressure, including in the grain operations that are its biggest business.

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cavellOct. 9, 1310:00 AM

Cargil=agribusiness=energy trading? And news reports say consumer energy costs will rise this winter? And Cargil will lose money? I thought higher prices meant higher profits for business? Gouge the consumer?

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arnsterOct. 9, 1310:30 AM

Only a 571 million dollar profit, just horrible. Look for Cargill to begin a new round of layoff's in the US on such horrible news. Don't worry though, those employees will be replaced with cheaper resources overseas.

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waterbackzzOct. 9, 1310:32 AM

Boo Hoo...the ethanol scam did't work out for the high rollers because grain prices spiked way up and they are lossing their butts, closing down ethanol plants and taking hits for ever getting into ethanol.

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davehougOct. 9, 1312:01 PM

The energy trading business posted a notably weak performance due to the combination of mild weather...... So WHY does any energy company executive ever get a bonus when sales depends more on the weather than any human efforts :)

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lawtonj1Oct. 9, 13 1:12 PM

I think the journalist should interpret "energy trading business" for us little people. If it is all about corn prices and ethanol, or something else, then find out and explain in plain english not in Cargill-speak. Thank you.

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doorbusterfOct. 9, 13 1:49 PM

$571 million is still alot of $$ for a privately held company.

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sullyOct. 9, 13 2:42 PM

Energy traders are gamblers that bet on the future price of a commodity. If they guess right, they make an enormous amount of money for themselves, if they guess wrong, they lose huge amounts for the company, but don't have to give anything back. Pretty good gig if you can get it.

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