Minnesota's privately held food giant blames the losses on uncertainties in the global economy and a volatile market for commodities.

Cargill Inc. reported an 82 percent slide in its fiscal fourth-quarter profit, citing tough trading conditions in beef and soybean processing and an economic and political environment that the agribusiness group has said distorts the pricing of risk, Dow Jones reports.

Cargill Inc. plans to increase the production capacity of its joint-venture Paseo Biofuels LLC biodiesel plant in Kansas City by 40 percent, Reuters reports. The Minnetonka-based agriculture giant expects the expansion to be complete by March 2013.

The Minnesota agribusiness giant is one of the world's biggest shippers of agricultural products, and it has started rating ocean-going vessels for fuel efficiency, the Star Tribune reports. The company vows to avoid use of high-polluting vessels, and officials say that won't get in the way of profits.

Lower expenses and a 10 percent sales growth helped boost Fastenal Co's third-quarter net income by 13 percent, RTTNews reports. The Winona-based company, an industrial and construction supplier, posted a profit of $109.3 million, or 37 cents a share, compared to $96.8 million, or 33 cents a share, a year ago.

The U.S. Environmental Protection Agency approved 20 companies to market ethanol in a 15 percent blend with gasoline.