# ADM Reports Strong Q2 for Biofuels

> 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.

- Date: 2023-07-26 · published 2023-07-26T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/35034-adm-reports-strong-q2-for-biofuels
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

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.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: bullish ▲

## Sources

- mnbiofuels.org: https://mnbiofuels.org/adm-reports-strong-q2-for-biofuels

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.