Sierentz Global Merchants, a prominent commodity trading firm, is said to be discontinuing the majority of its physical grain trading operations globally, with several traders already departing from their roles, according to insider sources. The closure of Sierentz’s grains division, inaugurated in 2017 by former Louis Dreyfus Company traders based in Geneva, Switzerland, and specializing in Black Sea grain exports, marks a significant shift in the company’s strategic direction.
While Sierentz has not responded to requests for comments on the matter, sources familiar with the situation, who chose to remain anonymous due to the sensitivity of the issue, highlighted various reasons behind the decision. These include reported losses in Ukraine, challenges stemming from overreliance on the country as a primary source of origin, difficulties in derivatives trading following initial profits, and unsuccessful personnel changes within the organization.
Despite the cessation of most grain trading activities, Sierentz intends to maintain its farming operations in Brazil and Russia. Additionally, a portion of the team will reportedly remain on the soybean desk in Geneva to support farming activities in Brazil.
This development follows Sierentz’s discontinuation of its palm oil trading operations based in Singapore back in 2019. At the time, the company had expressed a desire to refocus its efforts on grains and other oilseed trading activities.