Farms.com Home   Ag Industry News

Corn processor, ADM misses estimates

World’s largest corn processor misses estimates after drought hurts U.S. crops

By , Farms.com

 Archer-Daniels-Midland Co. (ADM), the leading corn processor worldwide, reported its Q1 profit, which missed analysts’ estimates as U.S. crop supplies declined after last year’s drought. Net income fell to $269 million (41 cents a share), from $399 million (60 cents a share), a year earlier.

Chairman and Chief Executive Officer Patricia Woertz said that this was a challenging quarter, with agricultural services negatively impacted by last summer’s U.S. drought.

ADM processes grains like corn – making it into ethanol and sweeteners, and soybeans into animal feed and oil. The smaller volumes of crops have raised production costs.  The drought was deemed the worst in 50 years – since the 1940s. U.S.


Trending Video

NEW “FEMO” = AI STOCK FRENZY!

Video: NEW “FEMO” = AI STOCK FRENZY!


The new acronym on Wall Street is not “FOMO”, its “FEMO” - Fabulous Earnings Momentum. DELL this week crushed their earnings and revenue guidance sending the stock up 40%! Micron's valuation went from 500 billion to 1 trillion in 48 days!
U.S. Corn Belt drought expanding need timely rains in June.
Rumors this week that China was lowering U.S, ag tariffs and wanting to buy U.S. corn?
Flood could damage crops in China like corn and wheat.
U.S./Iran 60-day truce = lower crude oil futures by end of June.
U.S. urea futures down 28%.
Soy oil and canola futures technically breaking out
+ CFTC.