Crop Trading Giant ADM Sees Years of Tight Markets Fueled by War
- Company reports its most profitable quarter on record
- ADM shares climb as much as 5.5% in New York trading
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Archer-Daniels-Midland Co., one of the world’s biggest agricultural traders and processors, predicted several years of tight supplies due to a confluence of smaller crops in the Americas and the war in Ukraine.
The company announced its most profitable quarter ever, helped by strained crop supplies that boosted trading margins as well as growth in its nutrition segment. ADM shares gained as much as 5.5%.