date:Aug 01, 2018
Archer Daniels Midland Cos (ADM.N) quarterly profit beat Wall Street estimates by a wide margin, driven by higher returns from its oilseeds processing business.
Profit in the business jumped 70 percent to $341 million in the second-quarter due to strong demand for soybean meal.
With roughly half of its $14.1 billion global oilseed crushing business based in North America, ADM has also been benefiting from strong processing margins at home.
Nutrition business profit rose about 21 percent to $