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| DON'T BUY | 29.710 | Darren Sissons | One of the underlying catalysts for this has been the grand peripheral (?) trade. That whole valley chain has caused land prices for farmers to reach inflated levels. As, at the same time as a Chinese big demand for these food commodities. Longer-term, you have a backdrop of sovereign risk at the banking levels for the US governments. Wonders if longer-term, the trade is going to unwind. | 2012-01-30 | |
| SELL | 28.930 | Gordon Reid | So many moving parts to it that it is tough to figure out. Announced a layoff today. Never great news. | 2012-01-11 | |
| PAST TOP PICK | 27.270 | David Baskin | (A Top Pick Dec 22/10. Down 7.56%.) Grain handling. Still things the global demand for food stuff is a good story. Still likes. | 2011-12-19 | |
| BUY | 28.340 | Barry Schwartz | Very hard and complex company to understand. Involved in making additives for food as well as in the trading business. Does like that they are the biggest supplier of soybeans to China and over time, China is going to need more and more soybeans. Very cheap on a PE basis trading at a Price to Book Value of 1. Has raised its dividend 30+ years in a row. | 2011-12-12 | |
| SELL | 27.790 | Gordon Reid | Too many moving parts. Crop prices/failure, flowthrough issues. Tough industry. | 2011-11-23 | |
| PAST TOP PICK | 28.290 | Barry Schwartz | (A Top Pick Nov 4/10. Down 8.02%.) Agriculture services company. Exporter of corn, soy, etc. Had a really good year last year and raised its dividend twice. The problem is that they had a lousy 1st quarter. Very cheap at 9X earnings. | 2011-11-21 | |
| DON'T BUY | 27.100 | David Burrows | Processor of oil seeds. With crop size being small it could impact their revenues. Prefers not to be in processors but in fertilizers. | 2011-09-13 | |
| DON'T BUY | 30.810 | Gordon Reid | There were serious spikes in food commodities and they are now reversing course, which are squeezing margins. Would prefer a company with a longer-term cycle like Deere (DE-N). Can be quite volatile. | 2011-07-28 | |
| Comment | 29.890 | Lorne Steinberg | Into everything to do with what goes into food, grains, edible oils and the like. A major global player. Have a lot of pricing power. Have been looking at this, but it is a little too expensive. | 2011-07-14 | |
| BUY | 30.390 | Andrew Hamlin | One of the leading global grain producers, storage and traders. Great company but a lot of analysts have trouble on how to properly predict earnings. He believes in the long term story on agriculture and this is an excellent way to play it. | 2011-06-03 | |
| BUY | 36.600 | Prakash Hariharan | Used to be his top pick. He has always liked the name. They need to watch for $7 corn because the spread within Corn/Ethanol will be problematic is corn starts to creep up. They are the top ethanol producer in the US. It’s always a great stock to get on pullbacks. It’s a good name to own as a defense against grain prices. | 2011-03-09 | |
| PAST TOP PICK | 36.620 | David Burrows | (A Top Pick Feb 19/09. Up 26.55%.) (BNN indicated Top Picks as being on Feb 19/10 but were actually Picks on Feb 19/09 so percentages could be wrong.) | 2011-03-01 | |
| BUY | 37.120 | Andrew Hamlin | One of the best agricultural/grain processing companies. Buy grain globally, process it and then sell it. Strong business in high fructose corn syrup. Expect sugar prices will increase so corn syrup is a good substitute. $40 longer term. | 2011-02-16 | |
| PAST TOP PICK | 33.930 | Ara Nalbandian | (Top Pick Feb 16/10, 16.45%) Saw some volatility numbers he wasn’t comfortable with and exited the position. | 2011-01-19 | |
| WEAK BUY | 29.900 | Jim Huang | Hasn’t performed all that well this year. One of the biggest companies that supplies seeds. As a long term strategic holding it is something you should have. 2-3 year horizon. | 2010-12-30 | |
| TOP PICK | 30.590 | David Baskin | Biggest grain and vegetable oil trader globally. Asia will start demanding more and more oil seeds and grains and this company is well positioned to benefit. | 2010-12-22 | |
| DON'T BUY | 30.780 | Gordon Reid | Food and agriculture. A lot of risk such as crop failures, input risks of ag commodity prices. | 2010-11-10 | |
| TOP PICK | 31.560 | Barry Schwartz | One of the largest distributors of grains, crops and especially soybeans. China imports 55 Million tones of soybeans and can only produce 15 tones. Problem with soybeans is you can’t just throw more fertilizer on them, they need lots of water and China is a little short of water. Biggest risk is crop prices dropping. This quarter they couldn’t source grains from Russia. Over the long term this is a great place to be. Raised dividends 37 years in a row and is trading at a cheap valuation. | 2010-11-04 | |
| PAST TOP PICK | 28.900 | Rick Stuchberry | (A Top Pick April 3/09. No Change.) | 2010-03-31 | |
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| PAST TOP PICK | 41.540 | Prakash Hariharan | (Top Pick Sep 29/09, Up 7.2%) (Preferred A.)It’s in the conversion range right now. Likes the company. Margins of Corn Ethanol have been strong. Lot of cash in their balance sheet. 6.5% dividend. Safe as it come close to its conversion price. | 2010-03-01 | |
| PAST TOP PICK | 29.950 | David Burrows | (Top Pick Feb. 19/09, Up 9.82%) | 2010-02-19 | |
| TOP PICK | 42.100 | Ara Nalbandian | (Preferred A.)Put option $29.56 on ADM-N. It’s a good way to gradually accumulate a position. He has been working this way for may years. Is a beneficiary of global agricultural demand. Volumes and margins are strong. Recently raised dividends. | 2010-02-16 | |
| VAGUE | 29.630 | Charles Lannon | Cash flow does not exceed earnings so he doesn’t like this one, but has bought it for snowbirds for its income. | 2010-01-26 | |
| PAST TOP PICK | 31.730 | Rick Stuchberry | (A Top Pick Apr 3/09. Up 11.15%.) Still likes. | 2009-12-30 | |
| DON'T BUY | 32.160 | Gordon Reid | A lot of visibility risk on this company. | 2009-11-11 | |
| TOP PICK | 38.780 | Prakash Hariharan | 6.25% Preferred A Shares. Feels the food space had not broken out. The common stock is the riskier play. Likes the coupon. A safe play, not a leveraged play. | 2009-09-29 | |
| PAST TOP PICK | 38.780 | Prakash Hariharan | (Top Pick July 3/09, Up 6.2%) Convertible Preferred A's. The food space is something to look out for. Has the highest amount of leverage in the food processing business. | 2009-09-29 | |
| BUY | 27.680 | Ara Nalbandian | Likes agriculture very much and there are pretty good opportunities to be invested in. Recently had a quarter that was a little below expectations, mostly related to hedging costs but this is only a short-term concern. You could also consider are Bunge (BG-N), Corn Products (CPO-N) or Viterra (VT-T). (His 2 preferences would be this company and Viterra.) | 2009-08-19 | |
| TOP PICK | 37.140 | Prakash Hariharan | 6-1/4% convertible Preferred A's. Had a rocky first half like so many. The second half looks good. Biggest risk is future for Ethanol for Gas. | 2009-08-18 | |
| TOP PICK | 36.340 | Prakash Hariharan | Convertible preferred A's. Yield of 6.25%. You can always hedge it against the stock. Still have the whole bio field mandate in the US. As long as you have 4 billion bushels of corn being converted into ethanol the stronger companies like this will survive. Good price. | 2009-07-03 | |
| TOP PICK | 35.650 | Prakash Hariharan | (Preferred A.)Likes what he sees in the food space now. There is a tightening in grain prices. USDA reports that the planting ratio for corn and soybeans have been hitting all-time lows. 6.25% yield. | 2009-05-25 | |
| TOP PICK | 28.900 | Rick Stuchberry | A stock that is positioned between the farmer and consumer. Huge growth area. They pick up the crop, store it, ship it and sell the seeds. Margins should be good. 2 negatives are that they are huge in ethanol and the Cdn$. Thanks this will outstrip any movement on the Cdn$. | 2009-04-03 | |
| TOP PICK | 27.840 | David Burrows | Global company across the entire value chain in agricultural products. Extremely strong balance sheet. Have all kinds of opportunities to make acquisitions. Agriculture is not a bad space to be in, particularly with the emerging markets scenario. | 2009-02-19 | |
| BUY | 22.610 | Brian Acker, CA | Just a little over Book Value at $21. This is a good time to cumulate shares. | 2008-09-11 | |
| DON'T BUY | 30.290 | David Burrows | (Market Call Minute.) Likes agriculture but he is Short this company as they are a price taker. They have to pay the price of the commodities they process. Margins are going to be pressured. | 2008-07-11 | |
| Comment | 38.110 | Peter Brieger | Ethanol. Among the cheapest of the agricultural stocks. If there is going to be an effort by governments to contain food prices, ethanol will suffer. | 2008-06-04 | |
| BUY | 42.190 | David Burrows | Likes the sector, would buy on this pullback, is a play on the ethanol program. | 2008-03-19 | |
| BUY | 43.300 | David Burrows | If he had to pick 2 spots in this market, they would be agriculture and precious metals. There is a very good visibility in the earnings and very good pricing power for the first time in many years. This is a space that is less economically sensitive. | 2008-01-28 | |
| BUY | 36.350 | Pat Naccarato | Basically a grain processor. What has driven them in the last number of years is their processing of corn for ethanol. The largest processor and will benefit from the energy sector. | 2007-11-30 | |
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| WEAK BUY | 33.930 | Brian Acker, CA | The model price is $40. This gives a 19% positive differential. Looks good to him, that he is finding value elsewhere. | 2007-10-10 | |
| DON'T BUY | 32.830 | Thomas George | Involved with corn-based ethanol. Rising corn-prices creating margin compression. Inflationary pressures will result in a reduction in bio-fuels produced. Not a home run stock. Not a sound “green fuel” production procedure. | 2007-09-13 | |
| BUY | 32.860 | David Baskin | The biggest agricultural company business in the US. Tremendously difficult company to understand. With corn acreage in the US at record levels and with the ethanol boom going on, they should profit substantially. | 2007-08-23 | |
| HOLD | 34.170 | Bill Carrigan | It was a big story, but he is not too excited about it now. Looks like it is trying to consolidate now. If you own, don't let it violate the trendline. | 2007-07-30 | |
| TOP PICK | 37.740 | David Baskin | Another way to play the ethanol business and farming boom in the US. The biggest agra company business in the US. There in all aspects, including seeds, transportation, milling, etc. | 2007-04-09 | |
| DON'T BUY | 36.840 | Norman Levine | Ethanol in the price and politics has been the flavour of the month, but for investors has not been good. Margins are not very good. | 2007-03-28 | |
| DON'T BUY | 32.000 | Norman Levine | Has exposure to the corn market and ethanol, which got a lot of people excited. Peaked last summer and has since been going down. Ethanol is being touted as a green fuel but this is questionable, especially in the current technology. | 2007-01-31 | |
| SELL | 33.470 | John Zechner | Should have done better than they have. Failed to deliver on the earnings side. Feed stock costs have been higher. Doesn’t like the laggard in a strong group. | 2006-12-12 | |
| WAIT | 33.690 | Brad Willock | Manufactures a lot of agricultural products, especially chemicals. Potentially levered to the growing business of making fuel from biomass, such as corn, soybeans, etc. Has been dropping. Would like to see a bit of a turn before getting interested in it. | 2006-12-11 | |
| DON'T BUY | 34.850 | John Manley | Chart shows a series of lower peaks. If you are looking to go long, wait for evidence that the downtrend is turning around. | 2006-12-04 | |
| TOP PICK | 17.560 | David Burrows | Has an accelerating growth rates in earnings and revenues. Steadily rising demand for grains overseas. | 2004-04-30 | |
| TOP PICK | 16.740 | David Burrows | A lot of demand for commodities coming out of Asia. | 2004-03-31 | |
| TOP PICK | 15.230 | Ray Steele | Growth and pricing of soy products should continue because of substitution of soy for beef, etc. | 2003-12-31 |
