An investigation into accounting practices in Archer-Daniels-Midland's ADM.N Nutrition segment could not come at a worse time for the company as sinking crop prices look set to erode profit for its core grain trading and processing businesses this year.
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Accounting probe hits ADM as crop glut, lower margins point to tough 2024
ADM shares fell 24 per cent Monday as news of accounting issues broke
ADM CFO placed on leave, shares tumble on probe into nutrition unit,
The global grains merchant cut its 2023 profit forecast, delayed Q4 results on investigation into flagged transactions
Shares of Archer-Daniels-Midland ADM.N slid 16 per cent in early morning trade on Monday after CFO Vikram Luthar was placed on administrative leave as the company investigates certain accounting practices at its Nutrition segment.
ADM buys Saskatchewan pulse miller
Prairie Pulse to double U.S. firm's reach in province's pulse sector
One of the four majors in global agrifood has bought expanded capacity in Saskatchewan’s pulse crop sourcing and processing space. ADM on Wednesday announced having bought Prairie Pulse Inc., whose […] Read more
Crop merchant Bunge raises full-year profit outlook
Agricultural commodities trader Bunge Ltd BG.N on Wednesday raised its full-year earnings outlook after posting an adjusted third-quarter profit that topped expectations, sending its shares up about 2 per cent […] Read more
ADM beats profit estimates but revenue disappoints
Reuters — Global grains trader Archer Daniels Midland beat Wall Street estimates for quarterly profits on Thursday, helped by strength in its grain milling and nutrition businesses. Still, revenue missed […] Read more
Green Plains sues ADM, alleging ethanol market manipulation
Chicago | Reuters — Green Plains Inc., one of the biggest U.S. ethanol producers, sued Archer Daniels Midland on Tuesday, accusing the global grain trader of manipulating the price of […] Read more
ADM says to focus on organic growth after acquisitions
Geneva | Reuters — Grain trader Archer Daniels Midland does not expect to continue its aggressive strategy of acquisitions in the next few years and will instead focus on organic […] Read more
ADM to combine grain trading, oilseed businesses
Chicago | Reuters — Global grains trader Archer Daniels Midland said Wednesday it will consolidate five business units into four in the company’s second reorganization in just over a year […] Read more
ADM says to seek early retirements, may cut jobs
Chicago | Reuters — U.S. grain trader Archer Daniels Midland said on Wednesday it will seek voluntary early retirements by some North American employees and may eliminate individual jobs as […] Read more
Road and rail investments considered in Brazil
Five exporters are considering a joint venture to tackle logjams that slow export deliveries
Sao Paulo | Reuters – The world’s big four agriculture traders and Brazilian rival Amaggi could make a joint bid to operate a road connecting Brazil’s grain belt to northern […] Read more