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Cargill Earnings Decline on Effects of Rail and Drought

Cargill Inc., the largest closely held U.S. company, posted a 12 percent drop in fiscal fourth-quarter profit as its trading and processing business continued to feel the effects of drought in the U.S. and a shortage of railcars.

Net income declined to $424 million in the three months through May, from $483 million a year earlier, the Minneapolis-based company said today in a statement. Revenue rose 2 percent to $36.2 billion.