Archer Daniels Midland is reporting gross profits of $1.54 billion for the first quarter of the 2021 fiscal year. Net earnings for the quarter are reported at $693 million. ADM CEO Juan Luciano says the strong rebound in demand for agricultural products as countries emerge from COVID drove the strong quarterly earnings. “China was one of the first countries to emerge from COVID-related restrictions and we are continuing to see significant export demand driven by this economic recovery,” says Luciano. “In the U.S., production is strong and export sales are robust.”
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