ADM CEO Juan Luciano reported a nine percent increase in year-over-year earnings for the third quarter of 2021 and stated “Our year-to-date adjusted EPS of $3.69 is already above out full-year 2020 adjusted EPS. Adjusted segment operating profit was $1 billion, up 18% versus the third quarter of 2020. And our 8th consecutive quarter of year-over-year OP growth.”
The crushing segment executed well, delivering higher year-over-year results and strong margin improvement. Growing demand for vegetable oils and the increasing production capacity for renewable diesel has provided strong growth and superior margins within the crushing segment.
This growth is expected to continue, which is why ADM announced in May their plan to build a dedicated soybean crushing plant and refinery in North Dakota to meet the fast-growing demand from biofuel, food and feed customers. ADM…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...