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Archer Daniels Midland Company

ADM punished in market awash in grain

Shares of Archer Daniels tumbled 8 percent Tuesday as rising stockpiles of grain, plunging energy prices, and a strong dollar took a toll on the agribusiness giant.

The company fell short of Wall Street expectations for both profit and revenue and CEO Juan Luciano said the terrible market conditions of last year are likely to persist in 2016.

The strong dollar has made it extraordinarily difficult for Archer Daniels to compete globally, making its corn, soybeans and other products and services more expensive overseas in a market that already has plenty of supply. Its profit fell about 39 percent.

And crude, which was trading for around $30 per barrel Tuesday, has made...

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