ADM Profit Doubles, But Corn-Processing Falls

Archer Daniels Midland Co. said fiscal-fourth-quarter profit more than doubled, boosted by asset sales and a 28% increase in revenue, but operating profit in its corn-processing business fell on higher corn costs and lower ethanol sales volume.

The Decatur, Ill., agricultural-processing company, which also said results were hurt by declining margins in its oilseeds business, said it expects its corn costs to fall amid a strong global crop and ethanol prices to decline.

Jason E. Berkes
www.jasonberkes.com