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UPDATE 2-Whoops! Last-minute change to U.S. tax overhaul splits grains sector [Reuters]

ARCHER-DANIELS MIDLAND (ADM)  More Company Research Source: Reuters
Last archer-daniels midland earnings: 2/6 07:00 am Check Earnings Report
US:NYSE Investor Relations: adm.com/investors/presentations
PDF Whoops! Last-minute change to U.S. tax overhaul splits grains sector | Reuters 6 Min Read CHICAGO (Reuters) - Republican U.S. senators are working with some of the world’s biggest agricultural merchants to undo a last-minute provision in the tax overhaul that threatens to distort the grains market and starve private firms of corn, soy and wheat supplies. It was included during final revisions of the tax bill that passed the Republican-controlled Congress last month. The restructuring of the tax code, the biggest in 30 years, handed President Donald Trump his first major legislative victory since taking office. The provision gives farmers a 20 percent deduction on payments for sales of crops to farmer-owned cooperatives, but not for sales to private or investor-owned grains handlers such as global firm Archer Daniels Midland Co ( ADM.N ). The modification was introduced to compensate co-ops and their farmer owners when Congress eliminated a part of the tax code, known as Section 199, [Read more]

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