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Sorghum Dispute Hurts ADM

Company will take a $30M hit due to China, U.S. trade issues

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Archer Daniels Midland Co. said on Tuesday it will take a $30 million hit to its trading profit in the second quarter due to a trade dispute between China and the United States over the feed grain sorghum.

It was the first confirmed financial impact among global grain trading companies from Beijing's move on April 17 to require hefty anti-dumping deposits on U.S. sorghum imports.

Read the full report at Successful Farming.

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