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Tag Archives Archer Daniels Midland — page 2

(ADM.com)

ADM CFO placed on leave, shares tumble on probe into nutrition unit,

The global grains merchant cut its 2023 profit forecast, delayed Q4 results on investigation into flagged transactions

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Shares of Archer-Daniels-Midland ADM.N slid 16 per cent in early morning trade on Monday after CFO Vikram Luthar was placed on administrative leave as the company investigates certain accounting practices at its Nutrition segment.
ADM to acquire dairy flavour firm
News

ADM to acquire dairy flavour firm

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Reuters – Global grains merchant Archer-Daniels-Midland said Dec. 18 that it will acquire American company Revela Foods, a Wisconsin-based developer and manufacturer of dairy flavour ingredients and solutions. The move will bolster the company’s flavours portfolio, ADM said. It has been diversifying its traditional grain handling business into flavours and nutrition foods over the years.
(ADM.com)
Crops, Pulses

ADM buys Saskatchewan pulse miller

Prairie Pulse to double U.S. firm's reach in province's pulse sector

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One of the four majors in global agrifood has bought expanded capacity in Saskatchewan’s pulse crop sourcing and processing space. ADM on Wednesday announced having bought Prairie Pulse Inc., whose main asset its its pulse crop processing and packaging plant at Vanscoy, about 25 km southwest of Saskatoon. Chicago-based ADM — known as the ‘A’
Bunge’s refined and specialty oils segment turned in stronger quarterly earnings in the Americas and Europe. Photo: Thinkstock

Crop merchant Bunge raises full-year profit outlook

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Agricultural commodities trader Bunge Ltd BG.N on Wednesday raised its full-year earnings outlook after posting an adjusted third-quarter profit that topped expectations, sending its shares up about 2 per cent in premarket trading. The improved forecast was attributed to favorable market conditions as tight global crop supplies and strong demand have benefited supply chain middlemen
Comment, Op/Ed

Comment: Big Agbiz’s big ‘price-fixing’ settlements need big fix

When a massive fine is peanuts to a big company, there’s a problem reforming its behaviour

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In a now too-common story in agriculture, Archer Daniels Midland (ADM) last month agreed to pay farmers $45 million (all figures U.S. funds) to settle what the March 13 Wall Street Journal described as “price-fixing allegations levelled at its peanut-processing division.” While $45 million is, indeed, peanuts to ADM — its estimated 2020 revenue will
(ADM.com)
Crops, Markets

ADM beats profit estimates but revenue disappoints

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Reuters — Global grains trader Archer Daniels Midland beat Wall Street estimates for quarterly profits on Thursday, helped by strength in its grain milling and nutrition businesses. Still, revenue missed analysts’ expectations and net earnings attributable to the company were 44 per cent lower than a year earlier. Shares were down nearly three per cent
Bunge sells stake in U.S. ethanol plant
Markets, News, Other

Bunge sells stake in U.S. ethanol plant

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Bunge has ended its 13-year ownership interest in an Iowa ethanol plant, the company said on Jan. 2, following industry struggles with thin margins and overproduction. Southwest Iowa Renewable Energy, or SIRE, repurchased Bunge’s stake in the facility on Dec. 31, according to a statement. U.S. ethanol producers say the industry has suffered from the

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