Archer Daniels Midland Sees Robust 3Q Demand for Biofuels — Commodity Comment

“Ag Services & Oilseeds delivered another solid quarter, leveraging the strength of our Brazilian export capabilities, extending regenerative agriculture partnerships, and commissioning our Spiritwood production facility to serve growing demand for renewable green diesel,” Chairman and Chief Executive Juan Luciano said.

ADM processed 8.6 million metric tons of oilseeds, up from 7.7 million tons a year ago, and 4.5 million metric tons of corn, up from 4.4 million tons. Total processed volumes rose about 9% to 13.2 million metric tons.

“In EMEA, we continued to optimize our flex capacity to higher margin softseeds, in line with market opportunities,” the human and animal nutrition company said.

ADM also saw strong export demand for biodiesel in the Europe, Middle East and Africa region.

On Carbohydrate Solutions:

“Carbohydrate Solutions drove strong results through excellent execution in favorable ethanol, starches and sweeteners margin environments, while extending customer wins in BioSolutions and formally advancing the Broadwing Energy project for lower carbon intensity power generation in Decatur,” Luciano said.

“The Starches and Sweeteners subsegment results, including ethanol production from our wet mills, were higher year-over-year on a healthy demand environment during the quarter,” ADM said.

“North American starches and sweeteners delivered higher margins on similar volumes versus the prior year and capitalized on a strong ethanol backdrop.

“The global wheat milling business posted higher margins on similar volumes, supported by steady customer demand.”

“Vantage Corn Processors results were significantly higher year-over-year on robust demand and margins for ethanol.”

Write to Mary de Wet at [email protected]