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Stock impact report

Huge crops, record storage signaling more woes for grain merchants [Reuters]

Archer-Daniels-Midland Company (ADM) 
Last archer-daniels-midland company earnings: 4/29 04:05 pm Check Earnings Report
US:NYSE Investor Relations: adm.com/contact-us/investor-relations
Company Research Source: Reuters
Huge crops, record storage signaling more woes for grain merchantsCHICAGO In the face of a global grain glut that is crushing profits and raising questions about their long-term prospects, the world's big grain merchants maintain they need only a drought or other supply shock to return to the riches of the past.But a two-day rout on Wall Street for two of the industry's biggest firms - Archer Daniels Midland Co and Bunge Ltd - underscores concerns that poor recent profits may be more than just a leg of a cyclical downturn and instead point to fundamental change.ADM on Tuesday warned investors that it was downgrading its expected return on invested capital — a key performance metric — by a full percentage point, to a projected 9 percent annual rate of return.On Wednesday, Bunge reported an 82 percent drop in first-quarter earnings and lowered its profit outlook for its unit that trades grain and oilseeds. It also reduced its budget for 2017 capital expenditures by $50 million, roughly Show less Read more
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