Reuters — Quarterly earnings at Cargill Inc. fell on a loss stemming from the devaluation of Venezuela’s currency, lingering effects from the U.S. drought and rail problems.
Privately-held Cargill reported net earnings of $424 million for the fourth quarter ended May 31, down 12 percent from the same quarter a year earlier.
Revenue rose two percent to $36.2 billion.
It also said that earnings in its food ingredients and applications business due to weaker economic conditions in some markets.
