ADM Shares Fall as CEO Cites Transition From Booming Years
- Crop trader’s processing volumes helped offset lower pricing
- ADM has been in spotlight since accounting scandal in January
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Archer-Daniels-Midland Co.’s shares slumped as the agribusiness giant warned of pressured margins for the remainder of the year, even as quarterly earnings beat estimates.
A combination of headwinds including ample grain supplies, slower farmer selling and increased supplies of alternative ingredients for biofuel production in the US are eroding profits for crop traders and processors, according to Chief Executive Officer Juan Luciano.