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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

By Karl Plume, Reuters January 23, 2024

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.

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

By Reuters January 22, 2024

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.

Crops

ADM buys Saskatchewan pulse miller

Prairie Pulse to double U.S. firm's reach in province's pulse sector

By Dave Bedard July 7, 2023

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

Bunge’s refined and specialty oils segment turned in stronger quarterly earnings in the Americas and Europe. Photo: Thinkstock

Crop merchant Bunge raises full-year profit outlook

By Karl Plume October 26, 2022

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

Crops, Markets

ADM beats profit estimates but revenue disappoints

By Arundhati Sarkar, Tom Polansek October 29, 2020

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

Crops, Markets

Green Plains sues ADM, alleging ethanol market manipulation

By P.J. Huffstutter July 15, 2020

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

Crops, Markets

ADM says to focus on organic growth after acquisitions

By Reuters November 13, 2019

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

Crops

ADM to combine grain trading, oilseed businesses

By Reuters May 29, 2019

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

Crops

ADM says to seek early retirements, may cut jobs

By Tom Polansek April 11, 2019

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

A highway in Mato Grosso, Brazil. Each year, many highways in the state see high volumes of truck traffic as they move to get grains to port.

News

Road and rail investments considered in Brazil

Five exporters are considering a joint venture to tackle logjams that slow export deliveries

By Ana Mano March 27, 2019

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

Tag Archives archer daniels midland

Accounting probe hits ADM as crop glut, lower margins point to tough 2024

ADM CFO placed on leave, shares tumble on probe into nutrition unit,

ADM buys Saskatchewan pulse miller

Crop merchant Bunge raises full-year profit outlook

ADM beats profit estimates but revenue disappoints

Green Plains sues ADM, alleging ethanol market manipulation

ADM says to focus on organic growth after acquisitions

ADM to combine grain trading, oilseed businesses

ADM says to seek early retirements, may cut jobs

Road and rail investments considered in Brazil

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