Crop Trader ADM Reopens Key U.S. Grain Terminal After Delays
- Reserve terminal helps support U.S. export program, ADM says
- Firm said in June the facility would only return in early 2021
An Archer-Daniels-Midland grain elevator in St. Louis, Missouri.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Archer-Daniels-Midland Co. has reopened a key U.S. grain-export terminal after construction delays, a move that could help boost profits for one of the world’s largest agricultural commodity traders.
The Reserve terminal in Louisiana, one of the three ADM owns in the Gulf of Mexico region, has now reopened, the Chicago-based company said in a statement in response to questions from Bloomberg on Monday. The facility was brought back online earlier than the company expected in June, when it estimated works would only be completed in early 2021.