Archer Daniels Midland Archives - Page 2 of 3

Accounting probe hits ADM as crop glut, lower margins point to tough 2024

ADM shares fell 24 per cent Monday as news of accounting issues broke

By Karl Plume, Reuters, GFM Network News January 23, 2024

An investigation into accounting practices in Archer-Daniels-Midland's ADM.N Nutrition segment could not come at a worse time for the company as sinking crop prices look set to erode profit for its core grain trading and processing businesses this year.

General, Reuters

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

By Reuters, GFM Network News January 22, 2024

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.

Crops, Pulses

ADM buys Saskatchewan pulse miller

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

By Dave Bedard, GFM Network News July 7, 2023

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’ […] Read more

Bunge’s refined and specialty oils segment turned in stronger quarterly earnings in the Americas and Europe. Photo: Thinkstock

Reuters

Crop merchant Bunge raises full-year profit outlook

By Karl Plume, GFM Network News October 26, 2022

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 […] Read more

Crops, Markets, Reuters

ADM beats profit estimates but revenue disappoints

By Arundhati Sarkar, Tom Polansek, GFM Network News October 29, 2020

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 […] Read more

Corn, Crops, Markets, Reuters

Green Plains sues ADM, alleging ethanol market manipulation

By P.J. Huffstutter, GFM Network News July 15, 2020

Chicago | Reuters — Green Plains Inc., one of the biggest U.S. ethanol producers, sued Archer Daniels Midland on Tuesday, accusing the global grain trader of manipulating the price of the biofuel to profit from its positions in the derivatives market. Green Plains filed the proposed class action with the U.S. District Court of Nebraska, […] Read more

Crops, Markets, Reuters

ADM says to focus on organic growth after acquisitions

By Reuters November 13, 2019

Geneva | Reuters — Grain trader Archer Daniels Midland does not expect to continue its aggressive strategy of acquisitions in the next few years and will instead focus on organic growth, a senior official said on Wednesday. “With this level of acquisitions we have had, I don’t think you will see ADM being a very […] Read more

Crops, Reuters

ADM to combine grain trading, oilseed businesses

By Reuters May 29, 2019

Chicago | Reuters — Global grains trader Archer Daniels Midland said Wednesday it will consolidate five business units into four in the company’s second reorganization in just over a year as adverse weather and a U.S.-China trade dispute threaten profits. ADM will combine its grain trading and oilseeds segments into a new business unit called […] Read more

Crops, Reuters

ADM says to seek early retirements, may cut jobs

By Tom Polansek April 11, 2019

Chicago | Reuters — U.S. grain trader Archer Daniels Midland said on Wednesday it will seek voluntary early retirements by some North American employees and may eliminate individual jobs as part of a restructuring of specific areas. The actions are needed to strengthen ADM’s core business and establish the company as a global leader in […] Read more

Crops, Reuters, Weather

ADM says U.S. floods to cut into Q1 operating profit

By Reuters, GFM Network News March 26, 2019

Chicago | Reuters — Flooding and severe winter weather in the U.S. Midwest will reduce Archer Daniels Midland’s first-quarter operating profit by US$50 million to $60 million, the U.S. grains trader said on Monday. Record floods have devastated a wide swath of the farm belt across Iowa, Nebraska, South Dakota and several other states. The […] Read more

U.S. grains: Wheat futures rise on supply snags in top-exporter Russia

Trump tariff on Brazilian goods could jack up U.S. burger price

U.S. livestock: Cattle mixed despite fresh supply threats

Daily Network News

U.S. grains: Wheat futures rise on supply snags in top-exporter Russia

Trump tariff on Brazilian goods could jack up U.S. burger price

U.S. livestock: Cattle mixed despite fresh supply threats

Tag Archives Archer Daniels Midland

Accounting probe hits ADM as crop glut, lower margins point to tough 2024

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

ADM buys Saskatchewan pulse miller

Crop merchant Bunge raises full-year profit outlook

ADM beats profit estimates but revenue disappoints

Green Plains sues ADM, alleging ethanol market manipulation

ADM says to focus on organic growth after acquisitions

ADM to combine grain trading, oilseed businesses

ADM says to seek early retirements, may cut jobs

ADM says U.S. floods to cut into Q1 operating profit

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