Archer Daniels Q3 Profit Down On Weak Ethanol, European Oilseeds Markets

Grain processor Archer Daniels Midland Co. on Tuesday reported a 31 percent decline in profit for the third quarter, as weak margins for ethanol and European oilseeds offset the benefits from higher revenues. The company noted that ethanol margins remained weak through the quarter amid excess industry production. The weak margins caused the Decatur, Illinois-based company to report a 12 percent drop in operating profit, despite revenue growth of 5 percent.