Archer Daniels Midland, Deere and Company, and Monsanto are collaborating to look for ways to use corn stover in animal feed and as a source of biomass for energy production. Stover consists of the leaves, stalk and cob of the corn. These waste products are usually left on the field to fertilize the soil and prevent erosion, but these companies believe they can increase the value of this material so that farmers can produce more … Read the rest
Tag Archives: ADM
Archer Daniels Midland (ADM) reports profit slide
ADM reported a drop in fiscal fourth-quarter profit even as the company’s sales were boosted by higher commodity prices.
ADM reported net income in the quarter ended June 30 of $372 million, or 58 cents a share, down from $955 million, or $1.47 a share, a year earlier. The profit picture was complicated by gains from asset sales last year, which added $616 million after taxes to year-earlier results. Excluding the effect of those gains, … Read the rest