Grain handlers expand hunt for cheaper crop bins as prices slump

Ottawa

FOR almost three years, Curt Vossen tried to buy grain elevators and processors in the US for Richardson International Ltd. The chief executive officer of Canada's biggest agricultural company said there just weren't many assets for sale, and the few that were fetched hefty premiums.

There are signs that's changing, Mr Vossen said. With crops like corn to soyabeans headed for their longest price slump since at least the 1990s, shrinking profit margins may make owners of North American grain assets more inclined to sell. While premiums remain near a 10-year high, they have declined, and the pace of deals for agricultural operations has accelerated, with the most transactions this year since at least 2000, data compiled by Bloomberg show.