Viterra Soars 5% after Agrium Bid for AWB Highlights Viterra's Own Australia Play; Agrium Down 1%
Viterra Inc. (VT.TO), a leading grain handler in Canada and Australia, soared 5% on Monday after fertilizer maker and Canadian rival Agrium Inc (AGU.TO) bid $1.1 billion for Australia's AWB Ltd. Agrium is down 1% at 69.36.
Viterra's move to buy Australia's ABB Grain last year looks increasingly like it was a good move.
Today's news has overshadowed a fall in wheat futures amid forecasts for rain in Russia, which would mean that country may not need to import as much of the grain as previously thought when a heatwave damaged its wheat harvest.
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