As goes the commodity market, so goes Archer Daniels Midland. That hasn’t been a good thing for the last year and a half or so. The processor of goods like corn and wheat has been hurt by a strong dollar and a grain surplus, reducing the demand for the North American supply it processes and sells. Low oil prices and a glut of ethanol also cut into its manufacturing of the fuel additive. Management has been trying to remake ADM accordingly, selling off businesses and shedding stakes in others at it acquires new companies that more closely align with consumer preferences. (“We monetized nearly $700 million of assets that were no longer strategic to ADM,” chairman, CEO, and president Juan Luciano wrote to shareholders.) The Trump Administration’s desire to renegotiate trade agreements only helps.
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