Crop Giant ADM Says Work at Key Grain-Export Terminal Is Delayed
- Repairs at Reserve terminal in the Gulf to end early next year
- High water levels ‘impacted the construction timeline’: ADM
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Archer-Daniels-Midland Co., one of the top agricultural commodity traders, said one of its key U.S. grain-export terminals won’t be back online until next year after work to repair the facility was delayed.
Construction at the Reserve terminal in Louisiana, one of the three ADM owns in the Gulf of Mexico region, will be completed in early 2021, the company said in response to questions. Repairs were needed after a third party vessel collision damaged the facility last year.