CHICAGO (Reuters) — U.S. agribusiness giant Cargill Inc. on Thursday reported a 36 percent rise in quarterly profits, supported by a bigger U.S. crop harvest in 2013 that led to lower grain prices and improved meat margins.
Minneapolis-based Cargill, a top global commodities trader, reported net earnings of $556 million for the second quarter ended Nov. 30, up from $409 million a year ago.
Revenues totalled $32.9 billion, down seven percent from a year ago.
Cargill, one of the world’s largest privately held corporations, had fiscal 2013 annual revenues of $136.7 billion, which would have placed it No. 10 on the Fortune 500 list of publicly held companies.
