World Grain - June 2013 - 40

FEATURE: The inSide STory oF a groundbreaking Trade agreemenT

Postscript
•	Only about 20% of the wheat was shipped on U.S. flag vessels.
•	Sovfracht was correct in its calculations of the cost of freight. We were able to charter
at lower levels than we had calculated.
•	The advice of the President of Rolimpex was very valuable when we received a very
large claim from Exportkhleb on quality problems caused by U.S. tanker shipments. We
had reserved almost $500,000 for any problems. I was able to settle the claim in Moscow
for less than $100,000 dollars (to be compensated on future sales).
•	This wheat sale of more than $80 million, the largest Continental Grain Company had ever made, laid the foundation for the company’s future substantial deals with
Exportkhleb in grains, oilseeds, and rice from different origins.
Folcks stayed in Moscow. They visited
the American Ambassador and did some
sight-seeing. After our two days’ visit
to Leningrad, the Folcks and Helene
returned to New York while I stayed on
to negotiate a 50,000-ton rice transaction, which in itself is quite a story.
After that I flew back and made a stop in
Warsaw where I met with the President
of Rolimpex, the Polish state organiza-

tion in charge of handling all foodstuffs.
Rolimpex had an office in New York
which was quite active in purchasing
grain under Public Law 480. They were
important clients of Continental. We had
great discussions. Rolimpex had a lot of
commercial contacts and experience
trading with the USSR. The president
of Rolimpex gave me valuable advice
of how to deal with the Russians should

any disputes arise with the execution of
our contract. This advice came in very
handy at a later date.
After coming back to New York, I took
Helene and the kids to upstate New York
for a short ski vacation. After two days,
Jim Good called me to tell me that all
Continental’s export elevators were being struck by the Longshoremen Union.
I immediately returned to New York,
where, of course, I became very involved with the execution of the Russian
contract. This, at times, proved to be
quite challenging.”
Editor’s note: In addition to Continental
Grain’s sale to Exportkhleb, Cargill also
sold the 700,000 tonnes of wheat —
500,000 tons of winter and 200,00 tons
of durum — to the Soviet Union in 1964.
We want to hear from you — Send comments and
inquiries to worldgrain@sosland.com. For reprints of
WG articles, e-mail reprints@sosland.com.

For more information, see Page 110.

40

June 2013 / World Grain / www.World-Grain.com



http://www.walinga.com http://www.World-Grain.com

World Grain - June 2013

Table of Contents for the Digital Edition of World Grain - June 2013

World Grain - June 2013
Table of Contents
From the editor-in-chief - A new measure of business success
Calendar of Events
News Review - Cargill to sell Swiss flour business
ADM: Geographic diversification critical to operations
Richardson completes acquisition of Viterra assets
Drought drops ADM’s first-quarter earnings
GrainCorp profit down 34%
ADM opens soybean processing facility in Paraguay
Income falls for Seaboard trading, milling unit
U.S. court sides with Monsanto in soybean case
Viterra to invest C$20 million to upgrade grain terminals
Gruma writes off Venezuela business
Olam earnings up 17% in first nine months
Bunge putting money behind ports
Wilmar earnings up 23% on oilseeds, grains
Vassart named Cargill Canada’s new president
CBH appoints new general manager, operations
Drought hurts The Andersons first-quarter earnings
Grain Market Review - Rice
Country Focus - Focus on France
Feature - Rising up from the ashes
Feature - The inside story of a groundbreaking trade agreement
Feature - 2013 IAOM Conference & Expo
The scoop on wheat innovation
Feature - Steady hand at the wheel
Feature - Sorghum milling study
Sorghum flour increasingly popular as gluten-free solution
European supplier profiles
Feature - Joseph Rank honored with exhibition
Supplier News
Product Showcase
World Grain Archive
Ad Index/Reader Information Form International Faxback Program
World Grain - June 2013 - World Grain - June 2013
World Grain - June 2013 - 2
World Grain - June 2013 - 3
World Grain - June 2013 - 4
World Grain - June 2013 - Table of Contents
World Grain - June 2013 - From the editor-in-chief - A new measure of business success
World Grain - June 2013 - 7
World Grain - June 2013 - Calendar of Events
World Grain - June 2013 - 9
World Grain - June 2013 - ADM: Geographic diversification critical to operations
World Grain - June 2013 - 11
World Grain - June 2013 - Richardson completes acquisition of Viterra assets
World Grain - June 2013 - Drought drops ADM’s first-quarter earnings
World Grain - June 2013 - ADM opens soybean processing facility in Paraguay
World Grain - June 2013 - Viterra to invest C$20 million to upgrade grain terminals
World Grain - June 2013 - Olam earnings up 17% in first nine months
World Grain - June 2013 - Wilmar earnings up 23% on oilseeds, grains
World Grain - June 2013 - Drought hurts The Andersons first-quarter earnings
World Grain - June 2013 - 19
World Grain - June 2013 - Grain Market Review - Rice
World Grain - June 2013 - 21
World Grain - June 2013 - Country Focus - Focus on France
World Grain - June 2013 - 23
World Grain - June 2013 - 24
World Grain - June 2013 - 25
World Grain - June 2013 - Feature - Rising up from the ashes
World Grain - June 2013 - 27
World Grain - June 2013 - 28
World Grain - June 2013 - 29
World Grain - June 2013 - Feature - The inside story of a groundbreaking trade agreement
World Grain - June 2013 - 31
World Grain - June 2013 - 32
World Grain - June 2013 - 33
World Grain - June 2013 - 34
World Grain - June 2013 - 35
World Grain - June 2013 - 36
World Grain - June 2013 - 37
World Grain - June 2013 - 38
World Grain - June 2013 - 39
World Grain - June 2013 - 40
World Grain - June 2013 - 41
World Grain - June 2013 - Feature - 2013 IAOM Conference & Expo
World Grain - June 2013 - 43
World Grain - June 2013 - The scoop on wheat innovation
World Grain - June 2013 - 45
World Grain - June 2013 - 46
World Grain - June 2013 - 47
World Grain - June 2013 - 48
World Grain - June 2013 - 49
World Grain - June 2013 - 50
World Grain - June 2013 - 51
World Grain - June 2013 - 52
World Grain - June 2013 - 53
World Grain - June 2013 - Feature - Steady hand at the wheel
World Grain - June 2013 - 55
World Grain - June 2013 - 56
World Grain - June 2013 - 57
World Grain - June 2013 - 58
World Grain - June 2013 - 59
World Grain - June 2013 - 60
World Grain - June 2013 - 61
World Grain - June 2013 - Feature - Sorghum milling study
World Grain - June 2013 - 63
World Grain - June 2013 - 64
World Grain - June 2013 - Sorghum flour increasingly popular as gluten-free solution
World Grain - June 2013 - 66
World Grain - June 2013 - 67
World Grain - June 2013 - European supplier profiles
World Grain - June 2013 - 69
World Grain - June 2013 - 70
World Grain - June 2013 - 71
World Grain - June 2013 - 72
World Grain - June 2013 - 73
World Grain - June 2013 - 74
World Grain - June 2013 - 75
World Grain - June 2013 - 76
World Grain - June 2013 - 77
World Grain - June 2013 - 78
World Grain - June 2013 - 79
World Grain - June 2013 - 80
World Grain - June 2013 - 81
World Grain - June 2013 - 82
World Grain - June 2013 - 83
World Grain - June 2013 - 84
World Grain - June 2013 - 85
World Grain - June 2013 - 86
World Grain - June 2013 - 87
World Grain - June 2013 - 88
World Grain - June 2013 - 89
World Grain - June 2013 - 90
World Grain - June 2013 - 91
World Grain - June 2013 - 92
World Grain - June 2013 - 93
World Grain - June 2013 - 94
World Grain - June 2013 - 95
World Grain - June 2013 - 96
World Grain - June 2013 - 97
World Grain - June 2013 - Feature - Joseph Rank honored with exhibition
World Grain - June 2013 - 99
World Grain - June 2013 - Supplier News
World Grain - June 2013 - 101
World Grain - June 2013 - 102
World Grain - June 2013 - 103
World Grain - June 2013 - 104
World Grain - June 2013 - 105
World Grain - June 2013 - 106
World Grain - June 2013 - 107
World Grain - June 2013 - Product Showcase
World Grain - June 2013 - World Grain Archive
World Grain - June 2013 - Ad Index/Reader Information Form International Faxback Program
World Grain - June 2013 - 111
World Grain - June 2013 - 112
https://digital.world-grain.com/sosland/wg/world-grain-november-2024
https://digital.world-grain.com/sosland/wg/world-grain-october-2024
https://digital.world-grain.com/sosland/wg/world-grain-september-2024
https://digital.world-grain.com/sosland/wg/world-grain-august-2024
https://digital.world-grain.com/sosland/wg/world-grain-july-2024
https://digital.world-grain.com/sosland/wg/world-grain-june-2024
https://digital.world-grain.com/sosland/wg/world-grain-may-2024
https://digital.world-grain.com/sosland/wg/world-grain-april-2024
https://digital.world-grain.com/sosland/wg/world-grain-march-2024
https://digital.world-grain.com/sosland/wg/world-grain-february-2024
https://digital.world-grain.com/sosland/wg/world-grain-january-2024
https://digital.world-grain.com/sosland/wg/world-grain-december-2023
https://digital.world-grain.com/sosland/wg/world-grain-november-2023
https://digital.world-grain.com/sosland/wg/world-grain-october-2023
https://digital.world-grain.com/sosland/wg/world-grain-september-2023
https://digital.world-grain.com/sosland/wg/world-grain-august-2023
https://digital.world-grain.com/sosland/wg/world-grain-july-2023
https://digital.world-grain.com/sosland/wg/world-grain-june-2023
https://digital.world-grain.com/sosland/wg/world-grain-may-2023
https://digital.world-grain.com/sosland/wg/world-grain-april-2023
https://digital.world-grain.com/sosland/wg/world-grain-march-2023
https://digital.world-grain.com/sosland/wg/world-grain-february-2023
https://digital.world-grain.com/sosland/wg/world-grain-january-2023
https://digital.world-grain.com/sosland/wg/world-grain-december-2022
https://digital.world-grain.com/sosland/wg/world-grain-november-2022
https://digital.world-grain.com/sosland/wg/world-grain-october-2022
https://digital.world-grain.com/sosland/wg/world-grain-september-2022
https://digital.world-grain.com/sosland/wg/world-grain-august-2022
https://digital.world-grain.com/sosland/wg/world-grain-july-2022
https://digital.world-grain.com/sosland/wg/world-grain-june-2022
https://digital.world-grain.com/sosland/wg/world-grain-may-2022
https://digital.world-grain.com/sosland/wg/world-grain-april-2022
https://digital.world-grain.com/sosland/wg/world-grain-march-2022
https://digital.world-grain.com/sosland/wg/world-grain-february-2022
https://digital.world-grain.com/sosland/wg/world-grain-january-2022
https://digital.world-grain.com/sosland/wg/world-grain-december-2021
https://digital.world-grain.com/sosland/wg/-world-grain-november-2021
https://digital.world-grain.com/sosland/wg/world-grain-october-2021
https://digital.world-grain.com/sosland/wg/world-grain-september-2021
https://digital.world-grain.com/sosland/wg/world-grain-august-2021
https://digital.world-grain.com/sosland/wg/world-grain-july-2021
https://digital.world-grain.com/sosland/wg/world-grain-june-2021
https://digital.world-grain.com/sosland/wg/world-grain-may-2021
https://digital.world-grain.com/sosland/wg/world-grain-april-2021
https://digital.world-grain.com/sosland/wg/world-grain-march-2021
https://digital.world-grain.com/sosland/wg/world-grain-february-2021
https://digital.world-grain.com/sosland/wg/2021_01_01
https://digital.world-grain.com/sosland/wg/2020_12_01
https://digital.world-grain.com/sosland/wg/2020_11_01
https://digital.world-grain.com/sosland/wg/2020_10_01
https://digital.world-grain.com/sosland/wg/2020_09_01
https://digital.world-grain.com/sosland/wg/2020_08_01
https://digital.world-grain.com/sosland/wg/2020_07_01
https://digital.world-grain.com/sosland/wg/2020_06_01
https://digital.world-grain.com/sosland/wg/2020_05_01
https://digital.world-grain.com/sosland/wg/2020_04_01
https://digital.world-grain.com/sosland/wg/2020_03_01
https://digital.world-grain.com/sosland/wg/2020_02_01
https://digital.world-grain.com/sosland/wg/2020_01_01
https://digital.world-grain.com/sosland/wg/2019_12_01
https://digital.world-grain.com/sosland/wg/2019_11_01
https://digital.world-grain.com/sosland/wg/2019_10_01
https://digital.world-grain.com/sosland/wg/2019_09_01
https://digital.world-grain.com/sosland/wg/2019_08_01
https://digital.world-grain.com/sosland/wg/2019_07_01
https://digital.world-grain.com/sosland/wg/2019_06_01
https://digital.world-grain.com/sosland/wg/2019_05_01
https://digital.world-grain.com/sosland/wg/2019_04_01
https://digital.world-grain.com/sosland/wg/2019_03_01
https://digital.world-grain.com/sosland/wg/2019_02_01
https://digital.world-grain.com/sosland/wg/2019_01_01
http://digital.world-grain.com/sosland/wg/2018_12_01
http://digital.world-grain.com/sosland/wg/2018_11_01
http://digital.world-grain.com/sosland/wg/2018_10_01
http://digital.world-grain.com/sosland/wg/2018_09_01
http://digital.world-grain.com/sosland/wg/2018_08_01
http://digital.world-grain.com/sosland/wg/2018_07_01
http://digital.world-grain.com/sosland/wg/2018_06_01
http://digital.world-grain.com/sosland/wg/2018_05_01
http://digital.world-grain.com/sosland/wg/2018_04_01
http://digital.world-grain.com/sosland/wg/2018_03_01
https://www.nxtbook.com/sosland/wg/2018_02_01
https://www.nxtbook.com/sosland/wg/2018_01_01
https://www.nxtbook.com/sosland/wg/2017_12_01
https://www.nxtbook.com/sosland/wg/2017_11_01
https://www.nxtbook.com/sosland/wg/2017_10_01
https://www.nxtbook.com/sosland/wg/2017_09_01
https://www.nxtbook.com/sosland/wg/2017_08_01
https://www.nxtbook.com/sosland/wg/2017_07_01
https://www.nxtbook.com/sosland/wg/2017_06_01
https://www.nxtbook.com/sosland/wg/2017_05_01
https://www.nxtbook.com/sosland/wg/2017_04_01
https://www.nxtbook.com/sosland/wg/2017_03_01
https://www.nxtbook.com/sosland/wg/2017_02_01
https://www.nxtbook.com/sosland/wg/2017_01_01
https://www.nxtbook.com/sosland/wg/2016_12_01
https://www.nxtbook.com/sosland/wg/2016_11_01
https://www.nxtbook.com/sosland/wg/2016_10_01
https://www.nxtbook.com/sosland/wg/2016_09_01
https://www.nxtbook.com/sosland/wg/2016_08_01
https://www.nxtbook.com/sosland/wg/2016_07_01
https://www.nxtbook.com/sosland/wg/2016_06_01
https://www.nxtbook.com/sosland/wg/2016_05_01
https://www.nxtbook.com/sosland/wg/2016_04_01
https://www.nxtbook.com/sosland/wg/2016_03_01
https://www.nxtbook.com/sosland/wg/2016_02_01
https://www.nxtbook.com/sosland/wg/2016_01_01
https://www.nxtbook.com/sosland/wg/2015_12_01
https://www.nxtbook.com/sosland/wg/2015_11_01
https://www.nxtbook.com/sosland/wg/2015_10_01
http://digital.world-grain.com/sosland/wg/2015_09_01
http://digital.world-grain.com/sosland/wg/2015_08_01
http://digital.world-grain.com/sosland/wg/2015_07_01
http://digital.world-grain.com/sosland/wg/2015_06_01
http://digital.world-grain.com/sosland/wg/2015_05_01
https://www.nxtbook.com/sosland/wg/2015_04_01
https://www.nxtbook.com/sosland/wg/2015_03_01
https://www.nxtbook.com/sosland/wg/2015_02_01
http://digital.world-grain.com/sosland/wg/2015_01_01
http://digital.world-grain.com/sosland/wg/2014_12_15
https://www.nxtbook.com/sosland/wg/2014_12_01
https://www.nxtbook.com/sosland/wg/2014_11_01
https://www.nxtbook.com/sosland/wg/2014_10_01
https://www.nxtbook.com/sosland/wg/2014_09_01
https://www.nxtbook.com/sosland/wg/2014_08_01
https://www.nxtbook.com/sosland/wg/2014_07_01
https://www.nxtbook.com/sosland/wg/2014_06_01
https://www.nxtbook.com/sosland/wg/2014_05_01
https://www.nxtbook.com/sosland/wg/2014_04_01
https://www.nxtbook.com/sosland/wg/2014_03_01
https://www.nxtbook.com/sosland/wg/2014_02_01
https://www.nxtbook.com/sosland/wg/2014_01_01
https://www.nxtbook.com/sosland/wg/2013_12_01
https://www.nxtbook.com/sosland/wg/2013_11_01
https://www.nxtbook.com/sosland/wg/2013_10_01
https://www.nxtbook.com/sosland/wg/2013_09_01
https://www.nxtbook.com/sosland/wg/2013_08_01
https://www.nxtbook.com/sosland/wg/2013_07_01
https://www.nxtbook.com/sosland/wg/2013_06_01
https://www.nxtbook.com/sosland/wg/2013_05_01
https://www.nxtbook.com/sosland/wg/2013_04_01
https://www.nxtbook.com/sosland/wg/2013_03_01
https://www.nxtbook.com/sosland/wg/2013_02_01
https://www.nxtbook.com/sosland/wg/2013_01_01
https://www.nxtbook.com/sosland/wg/2012_12_01
https://www.nxtbook.com/sosland/wg/2012_11_01
https://www.nxtbook.com/sosland/wg/2012_10_01
https://www.nxtbook.com/sosland/wg/2012_09_01
https://www.nxtbook.com/sosland/wg/2012_08_01
https://www.nxtbook.com/sosland/wg/2012_07_01
https://www.nxtbook.com/sosland/wg/2012_06_01
https://www.nxtbook.com/sosland/wg/2012_05_01
https://www.nxtbook.com/sosland/wg/2012_04_01
https://www.nxtbook.com/sosland/wg/2012_03_01
https://www.nxtbook.com/sosland/wg/2012_02_01
https://www.nxtbook.com/sosland/wg/2012_01_01
https://www.nxtbook.com/sosland/wg/2011_12_01
https://www.nxtbook.com/sosland/wg/2011_11_01
https://www.nxtbook.com/sosland/wg/2011_10_01
https://www.nxtbook.com/sosland/wg/20111_09_01
https://www.nxtbook.com/sosland/wg/2011_08_01
https://www.nxtbook.com/sosland/wg/2011_07_01
https://www.nxtbook.com/sosland/wg/2011_06_01
https://www.nxtbook.com/sosland/wg/2011_05_01
https://www.nxtbook.com/sosland/wg/2011_04_01
https://www.nxtbook.com/sosland/wg/2011_03_01
http://digital.world-grain.com/sosland/wg/2011_02_01
http://digital.world-grain.com/sosland/wg/2011_02_01
http://digital.world-grain.com/sosland/wg/2011_02_01
http://digital.world-grain.com/sosland/wg/2011_01_01
http://digital.world-grain.com/sosland/wg/2010_12_01
http://digital.world-grain.com/sosland/wg/2010_11_01
http://digital.world-grain.com/sosland/wg/2010_10_01
http://digital.world-grain.com/sosland/wg/2010_09_01
http://digital.world-grain.com/sosland/wg/2010_08_01
http://digital.world-grain.com/sosland/wg/2010_07_01
http://digital.world-grain.com/sosland/wg/2010_06_01
http://digital.world-grain.com/sosland/wg/2010_05_01
http://digital.world-grain.com/sosland/wg/2010_04_01
http://digital.world-grain.com/sosland/wg/2010_03_01
http://digital.world-grain.com/sosland/wg/2010_02_01
http://digital.world-grain.com/sosland/wg/2010_01_01
http://digital.world-grain.com/sosland/wg/2009_12_01
http://digital.world-grain.com/sosland/wg/2009_11_01
http://digital.world-grain.com/sosland/wg/2009_10_01
http://digital.world-grain.com/sosland/wg/2009_09_01
http://digital.world-grain.com/sosland/wg/2009_08_01
http://digital.world-grain.com/sosland/wg/2009_07_01
http://digital.world-grain.com/sosland/wg/2009_06_01
http://digital.world-grain.com/sosland/wg/2009_05_01
http://digital.world-grain.com/sosland/wg/2009_04_01
http://digital.world-grain.com/sosland/wg/2009_03_01
http://digital.world-grain.com/sosland/wg/2009_02_01
http://digital.world-grain.com/sosland/wg/2009_01_01
http://digital.world-grain.com/sosland/wg/2008_12_01
http://digital.world-grain.com/sosland/wg/2008_11_01
http://digital.world-grain.com/sosland/wg/2008_10_01
http://digital.world-grain.com/sosland/wg/2008_09_01
http://digital.world-grain.com/sosland/wg/2008_08_01
http://digital.world-grain.com/sosland/wg/2008_07_01
http://digital.world-grain.com/sosland/wg/2008_06_01
http://digital.world-grain.com/sosland/wg/2008_05_01
http://digital.world-grain.com/sosland/wg/2008_04_01
http://digital.world-grain.com/sosland/wg/2008_03_01
http://digital.world-grain.com/sosland/wg/2008_02_01
http://digital.world-grain.com/sosland/wg/2008_01_01
http://digital.world-grain.com/sosland/wg/2007_12_01
http://digital.world-grain.com/sosland/wg/2007_11_01
http://digital.world-grain.com/sosland/wg/2007_10_01
http://digital.world-grain.com/sosland/wg/2007_09_01
http://digital.world-grain.com/sosland/wg/2007_08_01
http://digital.world-grain.com/sosland/wg/2007_07_01
http://digital.world-grain.com/sosland/wg/2007_06_01
http://digital.world-grain.com/sosland/wg/2007_05_01
http://digital.world-grain.com/sosland/wg/2007_04_01
http://digital.world-grain.com/sosland/wg/2007_03_01
http://digital.world-grain.com/sosland/wg/2007_02_01
http://digital.world-grain.com/sosland/wg/2007_01_01
http://digital.world-grain.com/sosland/wg/2006_12_01
http://digital.world-grain.com/sosland/wg/2006_11_01
http://digital.world-grain.com/sosland/wg/2006_10_01
http://digital.world-grain.com/sosland/wg/2006_09_01
http://digital.world-grain.com/sosland/wg/2006_08_01
http://digital.world-grain.com/sosland/wg/2006_07_01
http://digital.world-grain.com/sosland/wg/2006_06_01
http://digital.world-grain.com/sosland/wg/2006_05_01
http://digital.world-grain.com/sosland/wg/2006_04_01
http://digital.world-grain.com/sosland/wg/2006_03_01
http://digital.world-grain.com/sosland/wg/2006_02_01
http://digital.world-grain.com/sosland/wg/2006_01_01
http://digital.world-grain.com/sosland/wg/2005_12_01
http://digital.world-grain.com/sosland/wg/2005_11_01
http://digital.world-grain.com/sosland/wg/2005_10_01
http://digital.world-grain.com/sosland/wg/2005_09_01
http://digital.world-grain.com/sosland/wg/2005_08_01
http://digital.world-grain.com/sosland/wg/2005_07_01
http://digital.world-grain.com/sosland/wg/2005_06_01
http://digital.world-grain.com/sosland/wg/2005_05_01
http://digital.world-grain.com/sosland/wg/2005_04_01
http://digital.world-grain.com/sosland/wg/2005_03_01
http://digital.world-grain.com/sosland/wg/2005_02_01
http://digital.world-grain.com/sosland/wg/2005_01_01
http://digital.world-grain.com/sosland/wg/2004_12_01
http://digital.world-grain.com/sosland/wg/2004_11_01
http://digital.world-grain.com/sosland/wg/2004_10_02
http://digital.world-grain.com/sosland/wg/2004_10_02
http://digital.world-grain.com/sosland/wg/2004_10_01
http://digital.world-grain.com/sosland/wg/2004_09_01
http://digital.world-grain.com/sosland/wg/2004_08_01
https://www.nxtbookmedia.com