Faced with dwindling ethanol margins, Archer Daniels Midland Co. officials said Tuesday it plans to begin reducing production at some dry mills.

The company reported that its bioproducts results decreased $229 million to a loss of $94 million during its stub fiscal year second quarter. Cutting production is one of the steps ADM plans to take in an attempt to get back on track, Chief Operating Officer Juan Luciano said during a conference call with Wall Street analysts.

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