Agrium sees low corn price driving farm retail M&A

Tue Sep 23, 2014 10:47am EDT
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Sept 23 (Reuters) - Canada's Agrium Inc, which owns the biggest North American network of retail stores selling seed, chemicals and fertilizer to farmers, sees opportunities for consolidation due to a weakening U.S. corn price and the growing size of farms, Chief Executive Officer Chuck Magro said on Tuesday.

Magro, speaking at a Scotiabank investor conference in Toronto, said one of Agrium's highest priorities for use of its capital are tuck-in farm retail acquisitions in the United States. He said the company also wants to grow its retail business in Brazil. (Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Chizu Nomiyama)