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ADM beat third-quarter profit estimates, with adjusted EPS of $1.63 versus analysts' $1.52, on good ethanol and sweetener margins and strong Brazilian crop exports. The company raised its full-year earnings outlook, though Ag Services and Oilseeds profit fell 21%.
Strong South American export flows are competing with US supply, which weighs on US export demand. Robust ethanol margins support processor corn demand.
esmmagazine.comReutersOct 25, 2023After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
