Grain traders are making big profits as supplies are disrupted by the war in Ukraine and other factors.
Archer Daniels Midland (ADM) reported a 53% increase in profit for its first fiscal quarter, compared with last year. Bunge had quarterly adjusted earnings 36% higher than last year's. CHS Inc., a farm cooperative that does some grain-trading, posted a profit of $219 million this quarter, compared with a loss last year.
The results are almost entirely attributable to high prices for grains, especially wheat, which went up about 40% this year. Bunge had a 7% decline in sales volume for its agribusiness unit but a rise of almost 15% in dollar sales.
Factors besides the war that push grain prices up include the lingering pandemic and a poor crop in South America this year.
“From a global pandemic to the short crop in South America to the conflict in Ukraine, it has become clear that we cannot take an abundant and efficient supply of food for granted,” ADM CEO Juan Luciano said on a conference call quoted in the Wall Street Journal.
Kaeser is the world’s leading air systems specialist and offers a full range of compressed air solutions for almost any application. From industrial compress...
Take a moment to see the scope of Kaeser's commitment to innovative system designs that guarantee ultra-reliable compressed air, easy maintenance, and greater efficiency.
Ventilation has a huge impact on the ambient temperature in the compressor room and is often the missing link to temperature regulation issues. Here are four factors to consider...
Learn how to get a smart, reliable, energy-efficient compressed air system delivered in a turnkey, weatherproof and temperature-controlled enclosure that needs little or no onsite...
