Investors Feast on ADM Following Earnings Report

All in all, Archer Daniels Midland ADM posted a stellar second-quarter earnings report. Net income came to $732 million or $1.14 per share. This compares to $567 million, or $0.88 per share in the same period a year ago. The Street was looking for $0.78 per share. Revenues rose by 32% to $20.93 billion. The consensus estimate called for $17.5 billion. Of course, the global agriculture commodities are booming. The main drivers include adverse weather and growing demand, as diets change in Asia and other developing countries. Exports of U.S. grains have been extremely strong as countries like Russia lost huge amounts of their crops due to drought. Continue reading the article.