Lawsuit Filed Against ADM
An energy trading firm has filed a class action lawsuit against Archer Daniels Midland, claiming ADM manipulated the cash ethanol price. AOT Holdings is seeking damages of up to $6.3 million.
Articles tagged under: ADM
Trade and Tough Weather Impact ADM’s Q2 Results
Archer Daniels Midland is reporting second-quarter earnings of $235 million, down 58 percent from one year ago. ADM CEO Juan Luciano says the trade war and the tough spring weather conditions had an impact of about $65 million to the…
Smithfield Sources Corn From South America
With record delays in U.S. corn planting, Smithfield Foods is purchasing corn from South America. Reuters is reporting Smithfield Foods is buying grain from ADM and other unnamed companies. Rather than shipping corn from the Midwest, Smithfield has found it…
ADM Creates New Ag Services and Oilseeds Unit
Archer Daniels Midland has a new business unit called Ag Services and Oilseeds, which combines the original and oilseed business operations into a single reporting structure starting July 1. Former ADM Oilseeds president Greg Morris will lead the unit. ADM…
First Quarter Earnings Drop for ADM
First quarter earnings for ADM totaled $233 million, down from $393 million the previous year. Revenue was also down from $15.5 billion in 2018, reported at $15.3 billion. The company says poor weather conditions in North America hurt operating profit…
A Change for ADM
The president of ADM’s grain business, Wes Uhlmeyer, has stepped down. Chris Boerm, who is president of ADM’s transportation division, will now oversee the transportation and grain business. Boerm previously was president of ADM’s grain trading division.
Private Grain Traders to Invest in Brazilian Infrastructure
ADM, Bunge, Cargill, Louis Dreyfus and South American soybean producer, Amaggi, have commissioned a study to improve a key Brazilian roadway. This road connects Brazil’s crop production area with the northern ports. Nearly 30 percent of Brazil’s corn and soybean…
Soybean Processing Capacity in Expansion Phase
The soybean processing industry is going through the biggest expansion phase in 20 years. That includes the AGP crush plant in Aberdeen and a facility in Michigan that are expected to come online later this year. The proposed projects at…
The Market Challenges ADM in Q4
Archer Daniels Midland is reporting fourth quarter adjusted operating profits of $860 million. ADM Chairman and CEO Juan Luciano says the strong quarterly performance lead to a 26 percent year-over-year earnings increase. "There's an adjusted segment operating profit of $3.4 billion,…
ADM Earnings Up Significantly
Archer Daniels Midland reports third quarter net earnings of $536 million. That’s up from $192 million one year ago. ADM reports strong export business for customers outside of China. Crush volumes also set new records.
