In Illinois, Archer Daniels Midland Company reported financial results for the quarter ended June 30, 2019 including net earnings of $235 million and reported that their executed aggressive interventions amid challenging industry conditions like unfavorable weather impacts of approximately $65 million to segment, have helped them manage those challenges.
Juan Ricardo Luciano Archer-Daniels-Midland Company – Chairman, CEO & President, said on the investor earnings call that China’s mandate of 2020 in ethanol will come through to help the ethanol industry since it’s a “win-win” situation.
“Although the timing is uncertain, we remain confident in the resumption of significant food and agricultural trade flows between the U.S. and China, which will help bolster margins in the U.S. grain export and ethanol industries,” Luciano continued. “We are also seeing early signs of how African Swine Fever might impact global animal protein markets, and eventually support incremental soybean meal demand in key meat-producing regions outside of China. And, of course, fast-growing consumer trends such as plant-based proteins are creating long-term growth opportunities for our comprehensive portfolio of food and beverage solutions.
Category: Producer News