Tight crop supplies in US pull down ADM second quarter earnings

WASHINGTON – Archer Daniels Midland Co, one of the largest agricultural trading houses globally, Tuesday reported a 22 percent drop in quarterly earnings due to the tight crop supplies position in the aftermath of the worst US drought in more than half a century. “The team managed well through this period, as tight U.S. crop supplies reduced volumes.Also, corn results improved amid volatile …

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