'Business as usual': Glencore

However, the global mining and agriculture giant, which has debts of $40 billion and recorded about $900 million in net losses for the first half of 2015, assures farmers it is "business as usual" for its Viterra and Glencore Grain operations as it gears up for harvest.

Glencore is one of Australia's major grain exporters, also growing crops on 30,000 hectares of country in the eastern states, in addition to operating grain storage and handling sites in South Australia, NSW and Victoria.

Its grain business grew significantly larger in 2012 when the big trader snapped up the Australian and Canadian-listed company Viterra for more than $6b just a few years after Viterra had absorbed the former SA-based statutory grain handler and marketer ABB Grain.

On a national scale Glencore employs about 18,000 people in Australia in mineral and agricultural businesses ranging from coal and copper mines in NSW and Queensland to grain and mineral port sites in four states, plus country storages and container packing and processing facilities.

Late last week after its declining mineral earnings sent its share price tumbling on stock markets in London, Hong Kong and Johannesburg company management said Glencore was taking "proactive steps to position the company to withstand current commodity market conditions".

"We are getting on and delivering a suite of measures to reduce our debt levels by up to $US10.2 billion," the company said.

On Monday, however, it denied any sale deal, which might involve its agribusiness assets in Canada, Australia or elsewhere, was imminent .

"Our business remains operationally and financially robust - we have positive cash flow, good liquidity and absolutely no solvency issues," the company's London head office statement noted.

"Glencore has no debt covenants and continues to retain strong lines of credit and secure access to funding."

Glencore also made reassurances to its Australian customers, prompted, in part, by concerns expressed by SA growers.

Grain Producers SA representatives met company managers late last week to discuss the upcoming harvest and market speculation about the global business's financial health.

"There'd been a lot of discussion in the press about why the share price fell and growers wanted to get some assurances about the company's operating intentions and if there was cash available to deal with this year's crop," said Grain Producers chairman Garry Hansen from Coomandook in SA's northern Mallee.

Share values had slumped about 70 per cent last week, while the cost of insuring Glencore's considerable debt has blown out.

Mr Hansen understood Glencore had been interested for a month or more in finding a joint venture partner to take equity in its agricultural portfolio.

Investment banks Citigroup and Credit Suisse have been reported as handling the negotiations for Glencore, but a company spokesman for the agricultural business in Australia was unable to make any comment relating to questions about the sale.

The company is already reducing its property holdings in Adelaide, putting its Viterra head office building up for sale and parcels of vacant land reportedly worth a combined $20m.

The Grain Producers meeting last week was told the company did not plan to sell off specific ag sector assets and intended to retain a majority stake in any joint venture move.

A representative for Viterra and Glencore Grain in Australia this week reiterated the businesses were "focused on harvest operations and meeting the needs of its grower, exporter and domestic customers".

"Glencore Grain, as one of the largest exporters of Australian grain, will be a leading buyer in the Australian market, offering 12-day payment terms, and buying the full range of commodities," the spokesman said.

"We value our relationship with growers and the services we provide."

Glencore's grain shipping program had been "very strong" during the 2014-15 and the new harvest season was about to begin with most sites in SA "empty or with very low stock levels remaining and providing maximum capacity for harvest receivals".

Speculation about the company's agricultural assets followed northern hemisphere media reports suggesting a partial sale could raise as much as $2.8b, with possible investors mentioned ranging from China's food commodities trader COFCO, to Saudi and Singaporean sovereign wealth funds.

The prospective sale of equity in its agricultural unit coincides with Glencore seeking to raise $US2.5b from shareholders and signalling more cuts to metals and coal production and metals division asset sales.