ADM Earnings Swell on Strong Crop Demand, Processing Margins

Source: By Michael Hirtzer, Bloomberg • Posted: Wednesday, October 27, 2021

A truck driver unloads corn at the Archer-Daniels-Midland grain facility in Mendota, Illinois.
A truck driver unloads corn at the Archer-Daniels-Midland grain facility in Mendota, Illinois. Photographer: Daniel Acker/Bloomberg

Archer-Daniels-Midland Co., one of the world’s biggest crop traders, beat estimates for its third-quarter earnings, buoyed by high crop prices and strong global demand for grains and oilseeds.

The Chicago-based company has gotten a lift during the past year from a resurgence in its traditional business of buying, processing, storing and shipping crops around the world after wild weather helped to raise volatility in grain and oilseed markets. Meanwhile, ADM has also been advancing its strategy to move beyond trading grain and oilseeds, announcing investments in sustainable aviation fuel, pet food and a new flavor hub in Asia.

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