Global grain merchants Archer Daniels Midland Co. (ADM) and Bunge Ltd. can withstand agricultural trade disruptions arising from U.S.-China tensions and potentially profit from them, company executives said on Wednesday.
According to Reuters, Soren Schroder, chief executive of Bunge, and Ray Young, ADM’s chief financial officer, said at an investor conference in New York that their companies were benefiting from a savage drought in Argentina that has increased soy processing margins and trading prospects.
The companies are projecting improved profits in 2018, after massive global harvests increased grain stockpiles and reduced trading opportunities in recent years.
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