Barcarena Grain Export Terminal News

U.S. agribusiness company Archer Daniels Midland Co has agreed to sell a 50-percent stake in its Barcarena grain export terminal in northern Brazil to commodities trader Glencore PLC, the company said during an analyst call on Tuesday. The companies are planning to increase the terminal's annual capacity to 6 million tonnes, from the current 1.5 million tonnes, after the deal, which is expected to close in the first half of 2015 pending regulatory approvals, ADM later detailed in a news release. The upgrade will allow the terminal to begin loading larger panamax vessels, which can hold around 60,000 tonnes, the company said. "Agricultural production is expanding rapidly in northern and western Brazil…