Net sales rise 28% to $12B beating analyst estimates of about $10B
ADM announces plans to enter the Brazilian sugar-cane ethanol market. Also, Bank of America analysts upgrade ADM from neutral to buy.
In light of the buzz surrounding ethanol, corn prices rose significantly, leading to a drop in ADM’s share price.
CSM acquires the activities of ADM Specialty Ingredients which includes bread improvers, bread mixers, and mono-glyceride. Stock rockets from 31.48 to 35.47.