U.S. grain storage capacity continues to trend higher as farm production grows, with Archer Daniels Midland Co. becoming the latest company to announce expansion plans. Get the full story »
Archer Daniels Midland
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ADM shares slide as analyst trims rating
Archer Daniels Midland Co.’s stock slipped Friday as an analyst downgraded the agribusiness conglomerate, saying the current operating environment may miss near- and intermediate-term expectations. Get the full story »
ADM chooses Dow Chemical exec to be COO
Agribusiness conglomerate Archer Daniels Midland Co. announced Monday that Dow Chemical executive Juan Luciano will be its new executive vice president and chief operating officer. Get the full story »
Burcon expects interest from ADM
Burcon Nutrascience Corp. expects that its new partnership with Archer Daniels Midland Co. could eventually result in their marriage.
Burcon earlier this month signed a licensing deal with Archer Daniels for the production, distribution and sale of its Clarisoy soy protein, which can go into juices, soft drinks and sports drinks.
Although the deal does not give ADM a right or option to buy Burcon, Johann Tergesen, Burcon’s chief operating officer, said he assumes ADM would want to take it over down the road. Get the full story »
ADM invests in Brazilian palms, biodiesel plant
Archer Daniels Midland Co. on Wednesday announced a 5-year plan to invest in nearly 30,000 acres of palm trees in Brazil and build a new processing plant as part of a program to use palm in its biodiesel production.
The plant and palm acres are located in the northern Brazilian state of Para. Construction on the plant near Sao Domingos do Capim is anticipated to begin in 2013. It is expected to be operational in 2016. Get the full story »
ADM 2Q profit jumps 29% on ethanol recovery
U.S. agricultural processor and ethanol producer Archer Daniels Midland Co reported stronger-than-expected quarterly earnings on Tuesday as rising grain prices and robust global demand bolstered results, sending its shares up 6.3 percent in premarket trading.
For the fiscal second quarter ended Dec. 31, net profit was $732 million, or $1.14 per share, compared with $567 million, or 88 cents per share, a year earlier. Get the full story »
Deals to boost Illinois soybean sales to China
China’s growing appetite for Illinois soybeans was on display Thursday at a ceremonial signing of purchase agreements that could trigger as much as $450 million in Illinois soy sales to Chinese companies this year.
The potential sales represent a hefty slice of business for Illinois farms and soy operations, which have seen agricultural exports to China grow in recent years to more than $500 million annually, from $149 million in 2007, according to data from Gov. Pat Quinn’s office. Get the full story »
ADM plans grain elevator in North Dakota
From The Bismarck Tribune | Decatur-based agricultural processor Archer Daniels Midland has applied for an industrial zoning permit to build a concrete grain elevator and private railroad loop near Hebron, N.D., that allows 110 cars to be loaded with grain for market.
ADM buys remaining stake in peanut company
Archer Daniels Midland Co., the world’s largest corn processor and one of the largest U.S. ethanol producers, said in a statement Tuesday that it had acquired the outstanding capital stock of Alimenta (USA) Inc. to control 100 percent of Golden Peanut Co. LLC. Golden Peanut, which processes and exports peanuts, peanut oil and peanut-derived ingredients, is based in Alpharetta, Ga. Get the full story »
ADM canola plant dropped from FDA restricted list
The U.S. Food and Drug Administration has dropped Archer Daniels Midland’s canola crushing plant in Windsor, Ontario from its list of plants that are under import restrictions due to salmonella concerns, according to an update on the regulator’s website on Tuesday. Get the full story »
ADM profit misses Street view, shares fall
Archer Daniels Midland Co. the world’s largest corn processor and among the largest U.S. ethanol producers, reported weaker-than-expected quarterly earnings Tuesday, hampered by inventory charges, and its shares fell more than 7 percent.
For the first quarter ended Sept. 30, ADM reported a net profit of $345 million, or 54 cents per share, down from $496 million, or 77 cents per share, a year earlier. Get the full story »
Oct. 28, 2010 at 2:25 p.m.
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Filed under: Agriculture/Farming, Chicago executives, Personnel moves ADM realigns senior leadership, names new CFO
U.S. agricultural processor Archer Daniels Midland Co. announced on Thursday it would realign its senior leadership as part of its long term growth strategy.
Ray Young was named the company’s new chief financial officer, effective Dec. 1, joining ADM from General Motors, where he was vice president of international operation in Shanghai, China, the company said in a statement. Get the full story »
Archer Daniels, Potash may benefit from wheat ban
From Bloomberg | Archer Daniels Midland Co., Potash Corp. of Saskatchewan Inc. and Eagle Bulk Shipping Inc. stand to benefit after Russia, the fifth-largest wheat grower, banned exports of the grain because of its worst drought in 50 years.
