COVID-19 outbreaks are increasing governments' food-security concerns, and importers need U.S. corn and soybeans for the first time in a long time to meet demand, Archer Daniels Midland Chief Executive Officer Juan Luciano said on Friday. The pandemic has upended supply chains globally, as some consumers hoard food and the virus threatens food-processing operations if workers fall ill.
Juan Luciano, CEO of Global grains trader Archer Daniels Midland Co (ADM), said governments are more concerned about food security during the coronavirus pandemic and the world needs U.S. corn and soybean supply for the first time in a long time. Luciano spoke in a Friday conference call to discuss third-quarter earnings.
- By planting a sign in early October supporting Joe Biden on a country road near her Minnesota dairy farm, Meg Stuedemann initially stood out from her neighbors. The 54-year-old, who runs Derrydale Farm in Belle Plaine with her husband, supports the former vice president, a Democrat, for president because of his pledges to combat climate change and promote renewable energy.
Global grains trader Archer Daniels
Midland Co (ADM) beat Wall Street estimates for quarterly profits on Thursday, helped by strength in its grain milling and nutrition businesses. Still, revenue missed analysts' expectations and net earnings attributable to the company were 44% lower than a year earlier.
U.S. grains merchant Archer Daniels
Midland Co (ADM) reported a 44.7% drop in third-quarter profit on Thursday, hurt by higher costs. Net earnings attributable to ADM fell to $225 million, or 40 cents per share in the three months ended Sept. 30, from $407 million, or 72 cents per share, a year earlier.
Bunge Ltd (BG): * BUNGE REPORTS THIRD QUARTER 2020 RESULTS. * Q3 GAAP EARNINGS PER SHARE $1.84. * SEES FY 2020 ADJUSTED EARNINGS PER SHARE $6.25 TO $6.75. * Q3 EARNINGS PER SHARE ESTIMATE $0.20 -- REFINITIV IBES DATA. * IN EDIBLE OILS, WE NOW EXPECT FY ADJUSTED RESULTS TO BE UP COMPARED TO LAST YEAR. * EXPECTED FULL-YEAR ADJUSTED RESULTS IN MILLING CONTINUE TO BE IN LINE WITH LAST YEAR.
Israeli food tech firm DouxMatok and Canada's Rogers Sugar (RSGUF) said on Wednesday they would collaborate to sell DouxMatok's sugar reduction technology to North American companies. DouxMatok's technology, which is based on cane sugar, is already available in Israel but will be sold to companies in the United States in 2021 through Rogers, the companies said.
Tyson Foods (TSN) said on Tuesday it plans in January to have company employees take on duties from more than a dozen federal inspectors at a large Kansas beef plant, after getting a U.S. government waiver. Tyson said the change would improve food safety and efficiency as part of a process to modernize inspections, although activists worried it could result in less oversight.
Tyson Foods (TSN) said on Tuesday it plans in January to have company employees take on duties from more than a dozen federal inspectors at a large Kansas beef plant, after getting a U.S. government waiver. Tyson said the change would improve food safety and efficiency as part of a process to modernize inspections, although activists worried it could result in less oversight.
Tyson Foods (TSN) said on Tuesday it plans in January to replace more than a dozen federal inspectors at a large Kansas beef plant with company employees, after getting a U.S. government waiver. Tyson said the changes would improve food safety and efficiency, though some activists worried they could result in less oversight.
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