Archer-Daniels-Midland Co., one of the top agricultural commodity traders, said one of its key U.S. grain-export terminals won’t be back online until next year after work to repair the facility was delayed, reports Bloomberg News.
Construction at the Reserve terminal in Louisiana, one of the three ADM owns in the Gulf of Mexico region, will be completed in early 2021, the company said in response to questions. Repairs were needed after a third party vessel collision damaged the facility last year.
An ADM representative said they informed customers several months ago that they expect the repairs to be complete in early 2021, and will remain on track to have the terminal back online during that time frame.
