Weather woes likely dented earnings of the ABCD quartet in second quarter
Severe U.S. weather likely dented earnings for large grain companies including Archer Daniels Midland Co. (ADM) and Bunge Ltd. for a second straight quarter, adding to headwinds from a still-unresolved U.S.-China trade war, analysts and economists said.
According to a report atReuters, ADM and Bunge, as well as Cargill Inc. and Louis Dreyfus Co., known as the ABCD quartet of global grain trading giants, faced processing-plant downtime, rail and barge shipping delays and other supply uncertainty this spring as historic floods ravaged the central U.S.
The latest round of quarterly earnings will start this week. ADM and Cargill are viewed as particularly vulnerable due to their outsized U.S. footprints.
Read the full report atReuters.
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