Saturday, February 3, 2007

Archer Daniels Midland Keepin' It Real

If you've ever read Kurt Eichenwald's The Informant, nothing Archer Daniels Midland does or doesn't do, except make money, will ever surprise you again.

From Cafe Hayak:

Shocking news. The nations chief bootlegger made a lot of money last quarter. The WSJ reports:

Archer-Daniels-Midland Co.'s fiscal second-quarter earnings rose 20%, as higher ethanol, starch and sweetener selling prices were partially offset by an increase in corn costs.

Check out the contribution of "bioproducts":

All four of ADM's business segments posted improved operating profits compared with the year-earlier period. Corn processing, its largest segment, posted a 42% increase to $335.5 million. Within corn processing, bioproducts operating profit rose 55% to $189.3 million and sweeteners and starches operating profit increased 28% to $146.2 million.

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