USA: ADM reports second quarter results
Decatur, Illinois-based agribusiness giant Archer Daniels Midland today [Wednesday] reported net earnings for the Q2 ended December 31 of US$150m, or US$.23 per share, up from with US$125m or US$.19 per share last year. Earnings from corn wet milling operations decreased primarily due to weaker fuel ethanol market conditions, said the company, but operating profit still increased to US$341m from US$267m last year. ADM explained that improved oilseed crush margins and improvement in its agricultural services operations accounted for most of this gain.
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