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
Tag Archives Archer Daniels Midland
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
Slow demand squeeze pinto, black bean prices
The price outlook for white, great northern and kidney beans remains bullish as they benefit from Argentina’s crop wreck
SASKATOON — The price outlook for pinto and black beans is about to improve, while prices for many other classes are already on the rise, according to two traders of the crop. Pinto and black bean prices have been on a downward slide since spring. Related stories: “We’re reaching the bottom, so the downside risk […] 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
Illegal Brazilian soybeans sold on global markets
Multinational companies indirectly buy crop grown on illegally leased tribal lands as issue causes division and conflict
PASSO FUNDO, Brazil (Reuters) — Farm co-operatives in Brazil that supply some of the world’s biggest multinational agricultural firms are buying soybeans grown illegally on Indigenous reservations in the country, according to tribal leaders and court records. This comes despite the companies’ public pledges to respect the land rights and resources of Indigenous peoples. The […] Read more
Southern U.S. Plains hope for canola comeback
Plans to retrofit an oilseed plant in Kansas to crush both soybeans and canola raise optimism for the winter crop
WINNIPEG — The resurrection of canola in Oklahoma and Kansas may begin this fall. Farmers in America’s southern Plains are once again thinking about canola because a major player is retrofitting an oilseed plant in Kansas to crush both soybeans and canola. Scoular, an agribusiness with headquarters in Omaha, Nebraska, and annual revenues of about […] 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
