Archer-Daniels-Midland posted its lowest second-quarter profit in five years on Tuesday as U.S. trade upheaval and uncertainty around biofuel policies slowed sales and crimped trading and crop processing margins.
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ADM sets off ‘frenzy’ in US soybean market ahead of new biofuel blend rule
U.S. officials are expected to propose biofuel blending requirements below industry recommendations
Archer-Daniels-Midland, a major U.S. soybean crusher and biofuel producer, slashed its bids to buy the oilseed this week ahead of an expected Trump administration announcement on biofuel blending requirements, a primary driver of demand for soybean oil - and a prospective source of demand for Canadian canola.
ADM cuts jobs in grain trading division, sources say
SAO PAULO (Reuters) – U.S. grains merchant Archer-Daniels-Midland is making a fresh wave of job cuts this week at its largest unit, the grain trading and oilseed processing division, according to three sources briefed on the matter. Chicago-based ADM said in February it would cut up to 700 jobs and reduce costs by $500 million […] Read more
ADM to idle Iowa soy facility
CHICAGO, Ill. (Reuters) — Archer Daniels Midland is idling its only soybean processing plant in Iowa for weeks in the thick of a record U.S. harvest, the grain merchant said, tightening supplies of soymeal fed to livestock. The temporary closure eliminates a market for farmers to sell their soy as low crop prices slash incomes […] Read more
Louis Dreyfus profit drops
PARIS, France (Reuters) — Louis Dreyfus Co. has posted higher first-half sales volumes and a drop in profit as the commodity group faces rising supply and lower prices of some major crops. LDC, one of the world’s largest crop traders and processors, said its core earnings were US$1.057 billion in the first six months of […] Read more
Proposed merger of grain giants betrays firm’s Prairie origins
As American grocery buyers await a Federal Trade Commission verdict on Kroger’s two-year-old, US$24.6 billion bid to buy competitor Albertsons, the European Commission took just 35 days to give its blessing to the merger between two of the world’s largest grain merchandisers, Bunge and Viterra. The mega-deal, valued at about $34 billion at the time […] Read more
Sustainability scoring service gets upgrade
WINNIPEG — Archer Daniels Midland and the Farmers Business Network are collaborating on a new venture that could help growers get more value from sustainable practices. On Aug. 19, ADM and FBN announced plans to expand a platform called Gradable and operate it as a 50-50 joint venture. “Gradable is rapidly becoming one of the […] Read more
ADM misses profit estimates on U.S. demand
REUTERS — Archer-Daniels-Midland Co. has missed Wall Street expectations for second-quarter profit, which were hit by lower soy crush margins and waning demand for U.S. crops. Such lower profits reflect the challenge global grain merchants and oilseed processors now face, as crop prices hover at nearly four-year lows due to a hefty global stockpiles of […] Read more
ADM chooses new CFO
REUTERS — Archer-Daniels-Midland has named 3M chief financial officer Monish Patolawala as its new finance chief. His appointment at ADM will be effective Aug. 1. He will succeed ADM’s interim CFO, Ismael Roig, who has been serving in his role since January 2024. In March, ADM corrected six years of financial data after an internal […] Read more
ADM feed recall expanded
Reuters – Global grain trader Archer-Daniels-Midland ADM said a manufacturing issue caused harmful levels of various minerals to be present in certain animal feed products and led to their subsequent recall. The global grain trader expanded the product recalls announced earlier this year due to elevated levels of magnesium, sodium, calcium, chloride and/or phosphorus. ADM […] Read more
