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ADM reported second-quarter 2023 results with strong ethanol and biodiesel performance and expects robust biofuel margins to continue into the second half. The company said its Spiritwood, North Dakota crush plant, a joint venture with Marathon, will add 1.5 million metric tons of soybean crush capacity and is due to start in Q4.
ADM's Carbohydrates Solutions operating profit fell to $303 million from $473 million a year earlier.
Expanding crush capacity and strong demand for vegetable oil for renewable diesel support soybean oil demand and crush margins, which increase meal output for feed buyers.
mnbiofuels.orgLiliana TovarJul 26, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
