Since the Canadian agribusiness announced its intention to take over AWB for $1.2 billion two weeks ago, speculation has intensified over its plans for the wheat exporter's grains trading arm.

Farmers, who collectively own about 20 per cent of AWB, have voiced concern over the uncertainty. Agrium's chief executive, Mike Wilson, said yesterday those fears were ''premature''.

Agrium was ''keeping its options open'' and would only reach a decision after consulting AWB management and stakeholders, he said.

''It's much too premature for a farmer to be worried about what we're going to do,'' Mr Wilson said. ''AWB is in a position that is not going to change in the short term and in the medium term we will consult with the farmers, we will talk with AWB management and we'll make a decision.''

Agrium has received approaches from a number of companies - believed to include GrainCorp as well as international giants Cargill and Glencore - over potentially buying the grains trading arm or partnering with Agrium to operate it.

Mr Wilson reiterated his respect for AWB's history and brand, and expressed his desire to add value to the company. He said he planned to use AWB as a springboard into Asia, much like Agrium had used Argentina to expand into South America.

The Canadian agribusiness has also emerged as a player in BHP Billiton's $US40 billion ($45 billion) bid for PotashCorp. Agrium is considered a likely candidate for the potash company's $8 billion phosphate assets if the miner decides to sell it after the acquisition.

Mr Wilson said Agrium would ''look at anything in reason'' but the prospect was dependent on a lot of assumptions. ''If an asset becomes available through BHP or through any company around the world, we look at it,'' Mr Wilson said. ''So yes, we'll look at it if it became available, but there's a lot of ifs in there.''

Mr Wilson also shrugged off suggestions BHP could leave the Canpotex venture after its acquisition of PotashCorp. Canpotex is a potash marketer Agrium holds an interest in, in partnership with PotashCorp and Mosaic.

''At the end of the day [BHP] will make the decision they want,'' Mr Wilson said. ''There are lots of companies around the world that are not in Canpotex so it's not going to impact us from a competitive point of view.''

Agrium hopes to complete the AWB deal by the middle of November, subject to a regulatory and shareholder approval.