ADM, Potash, Eagle Bulk to Reap Rewards of Wheat Ban
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Archer Daniels Midland Co., Potash Corp. of Saskatchewan Inc. and Eagle Bulk Shipping Inc. stand to benefit after Russia, the fifth-largest wheat grower, banned exports of the grain because of its worst drought in 50 years.
ADM, the world’s biggest grain processor, can step in to ease the shortage in Russia, Credit Suisse Group AG said. Fertilizer producers will gain from higher sales of crop nutrients to farmers, said Joe Needham, a vice president at grains processor The Andersons Inc. Cereal producers Kellogg Co. and General Mills Inc. may raise prices to pass on higher costs.