ADM’s Quarterly Profits Decline

Arther Daniels Midland reports quarterly net income of $18 million, down from $821 million in the same period one year ago. Profits in ADM’s Ag Services and Oilseeds divisions dropped 43 percent in the quarter. Higher canola prices resulted in lower crush margins and a downturn in profits in the oilseeds crush business. An internal investment found irregularities in its accounting process, which delayed the original earnings release date of November 5.