Leading US grain merchants Archer Daniels Midland CO (ADM) has proposed a takeover of Bunge Ltd according to the Wall Street Journal.
Bunge based in New York operates in more than 40 countries and is Brazils largest exporter of agricultural products and ADM, based in Chicago claims customers in over 160 countries.
Over recent years pressure has increased on large grain traders due to global oversupply and consolidation could be seen as an answer. Last year Glencore attempted a merger with Bunge and this news could reignite its interest. Neither Bunge or ADM would speculate on the news reported in the Wall Street Journal.