Fallout continues for the top global grain traders as a global supply glut and falling prices continue to challenge the sector.
Since the turn of the year, three senior grain traders have left Archer Daniels Midland’s (ADM’s) China team. Soymeal traders, Shen Ben and Wang Shaojun have left the company’s Shanghai office – at this point their future plans are not known. Additionally, wheat trader Cui Xiangdong has also stepped down, and will be joining GrainCorp China’s team.
The exits of the three traders come on the heels of the departure of Frederik Groth, chief executive of the company’s trading arm in Asia, and Victor Petzold, the company’s head of corn trading.
Lynda Kiernan is Editor with HighQuest Group Media and of the Oilseed & Grain News. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at email@example.com.