By Patrick Thomas
U.S. grain merchant Archer Daniels Midland warned that trade policy uncertainty would likely hit the company's bottom line this year.
Chicago-based ADM plays a central role in global commodity trading. It buys and sells crops to companies and governments while running processing plants that turn oilseeds and grain into vegetable oil, fuel, livestock feed and various food ingredients.
ADM's profits have declined in recent years because of falling crop prices and reduced trade flows from the U.S. to China. New tariffs now threaten to raise prices for the country's exports, potentially further reducing demand-an outcome that could push prices lower still.
In response, ADM has cut costs. On Tuesday, the company said it would cut up to 750 jobs globally this year. ADM also reported weaker-than-expected fourth quarter revenue and flat profits.
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(END) Dow Jones Newswires
February 04, 2025 10:24 ET (15:24 GMT)
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