Grain trader Archer-Daniels-Midland said on Monday that Chief Financial Officer Vikram Luthar will resign from his role effective Sept. 30.
ADM CFO to resign as company faces US government investigation
ADM announces plan to address accounting issues, posts earnings miss
The company's shares were up 4.3 per cent but down nearly 21 per cent for the year
Global grains merchant Archer-Daniels-Midland announced a plan to fix accounting issues that caused it to correct certain transactions in six years of financial results on Tuesday, though it warned the plan would take time to implement.
Accounting probe hits ADM as crop glut, lower margins point to tough 2024
ADM shares fell 24 per cent Monday as news of accounting issues broke
An investigation into accounting practices in Archer-Daniels-Midland's ADM.N Nutrition segment could not come at a worse time for the company as sinking crop prices look set to erode profit for its core grain trading and processing businesses this year.
ADM CFO placed on leave, shares tumble on probe into nutrition unit,
The global grains merchant cut its 2023 profit forecast, delayed Q4 results on investigation into flagged transactions
Shares of Archer-Daniels-Midland ADM.N slid 16 per cent in early morning trade on Monday after CFO Vikram Luthar was placed on administrative leave as the company investigates certain accounting practices at its Nutrition segment.
Feds pledge up to $26.3 million for expansion at Port Windsor
Project expected to significantly increase ADM's capacity at the Great Lakes port
A project to expand the Archer Daniels Midland (ADM) Company's Port Windsor terminal got a federal cash boost yesterday.
ADM buys Saskatchewan pulse miller
Prairie Pulse to double U.S. firm's reach in province's pulse sector
One of the four majors in global agrifood has bought expanded capacity in Saskatchewan’s pulse crop sourcing and processing space. ADM on Wednesday announced having bought Prairie Pulse Inc., whose main asset its its pulse crop processing and packaging plant at Vanscoy, about 25 km southwest of Saskatoon. Chicago-based ADM — known as the ‘A’ […] Read more
Bunge says sanctions may have ‘adverse effect’ on Russian operations
Reuters — Global agricultural commodities trader Bunge said continued conflict in Ukraine and stinging sanctions on Russia could have an “adverse effect” on its operations in the breadbasket region. Bunge and rival agribusinesses ADM and Cargill suspended operations in Ukraine last week after Russia invaded its neighbour. But none have stopped their business in Russia […] Read more
ADM releases alternative protein outlook for 2022
MarketsFarm — Major U.S. agribusiness ADM released a report Tuesday identifying the seven biggest trends in the alternative protein market, ranging from creating new protein sources from fungi to making plant-based meat substitutes more affordable and palatable to the general public. The seven trends in the report were: introduction of novel protein sources, using microbial […] Read more
ADM profit more than doubles on strong crush margins, vegoil demand
Global grain trader Archer-Daniels-Midland Co said on Tuesday its third-quarter profit more than doubled, as strong oilseed crushing margins and rising vegetable oil demand boosted its core agricultural services and oilseeds unit. The Chicago-based U.S. grains merchant is anticipating the favorable demand and margin environment to continue supporting results in the fourth quarter and foresees […] Read more
Cargill, ADM sell GrainBridge to ag software firm Bushel
'Network effect' expected in grains sector
An online service farmers use to manage grain sales with ADM’s elevators and processing plants across Canada — along with Cargill and ADM elevators in the U.S. — is under new ownership. ADM and Cargill, the two major U.S.-based agribusinesses that set up GrainBridge in 2019, announced Tuesday they’ve sold it to Bushel, a Fargo, […] Read more
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