ADM Quarter Profits Fall, Reporting Tight Crop Supplies

Aug 06, 2013

ADM Quarter Profits Fall, Reporting Tight Crop Supplies

By Amanda Brodhagen, Farms.com

Archer Daniels Midland Co. (ADM) reported that its quarterly earnings fell 21 percent, due to tightened crop supplies in the United States.

The company reported net earnings of $223-million, or 34 cents a share for its second quarter. The same quarter a year ago, ADM reported $284-million, or 43 cents a share. The company back in May suggested that its second quarter may be difficult because of tight crop supplies.

“The team managed well through this period, as tight U.S. crop suppliesreduced volumes,” said ADM Chairman and CEO Patricia Woertz. “Also, corn results improved amid volatile ethanol industry conditions.

ADM's second quarter report can be viewed by clicking here.

Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

Dr. Peter James Facchini leads research into the metabolic biochemistry in opium poppy at the University of Calgary. For more than 30 years, his work has contributed to the increased availability of benzylisoquinoline alkaloid biosynthetic genes to assist in the creation of morphine for pharmaceutical use. Dr. Facchini completed his B.Sc. and Ph.D. in Biological Sciences at the University of Toronto before completing Postdoctoral Fellowships in Biochemistry at the University of Kentucky in 1992 & Université de Montréal in 1995.