Archer Daniels Midland Co. (ADM) demonstrated its strength in oilseeds processing and agricultural services, despite a slowing of the ethanol boom. First-quarter earnings of US$441 million were 9% more than in the same period a year ago.
Operating profit from sweeteners and starches jumped 38%
to $164 million on higher average sweetener and starch selling prices.
Agricultural services results nearly doubled to $229 million.
“Where excellent first-quarter earnings of a year ago
reflected steep growth in the ethanol market, our record first-quarter earnings
this year demonstrate our strengths in sweeteners and starches, oilseed
processing and our global capabilities in grain merchandising and handling,”
said chief executive Patricia Woertz.
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