Brazil withholds corn subsidies owed to farmers, grain handlers [Reuters]
Archer-Daniels-Midland Company (ADM)
Last archer-daniels-midland company earnings: 4/29 04:05 pm
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Source: Reuters
Brazil withholds corn subsidies owed to farmers, grain handlers | Reuters 3 Min Read SAO PAULO, May 23 (Reuters) - Brazil’s government has not paid out subsidies pledged to corn producers and grain handlers that were due weeks ago, blaming recipients’ faulty documentation, farmers and a state agency told Reuters. Some 8.71 million tonnes of corn were traded via government support programs in 2017, representing 9 percent of Brazil’s output that season, according to food supply and statistics agency Conab. Conab, which administers the PEP and PEPRO programs, budgeted 499 million reais ($137 million) in subsidies to farmers and trading firms for 2017, providing state compensation for selling and shipping corn when prices were depressed following a bumper crop. In a statement, Conab confirmed only about a fifth of the total subsidies, or $27 million, had been scheduled for payment through last Friday. Brazil is the world’s third-largest corn producer and second-largest exporter, with a po
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ADM
Earnings
- 4/30/24 - Beat
ADM
Sec Filings
- 5/9/24 - Form SC
- 5/7/24 - Form 4
- 5/7/24 - Form 144
- ADM's page on the SEC website