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ADM misses Wall Street forecast

(Adds comparison with other food processors, comments from conference call)

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canada goose black friday sale CHICAGO, May 1 (Reuters) Archer Daniels canada goose outlet online Midland Co. food processor and ethanol maker, reported quarterly profit on Tuesday that fell far short of Wall Street expectations, sending its shares down as much canada goose clothing uk as 8 percent. canada goose black friday sale

Higher corn prices and lower than expected profit in agricultural services accounted for much of the earnings shortfall, analysts said.

Canada Goose Jackets appears that (the quarter) disappointed canada goose outlet store uk primarily on reduced agricultural service results and higher corn costs, which canada goose victoria parka outlet impacted the firm P during the quarter and pressured corn processing results, David Driscoll, an analyst at Citigroup, said canada goose outlet website legit in a research note. Canada Goose Jackets

Canada Goose Parka Earnings climbed 4 percent to $362.9 million, or 56 cents per share, in the fiscal third quarter that ended March 31, compared with $347.8 million, or 53 cents per share, a year earlier. Canada Goose Parka

The 2007 quarter included a gain of $33 million from the sale of the Arkady food ingredient business.

canada goose coats Excluding one time items, ADM canada goose outlet store new york earned 51 cents per share, compared with Wall Street forecasts for 61 cents per share, canada goose outlet 80 off according to Reuters Estimates. canada goose coats

canada goose uk shop Revenue jumped 25 canada goose outlet edmonton percent to $11.38 canada goose outlet in vancouver billion, topping analysts forecasts for $10.01 billion, according to canada goose outlet new york Reuters Estimates. The surprisingly strong sales figure was due to higher grain canada goose stockists uk prices, the company said. canada goose uk shop

Canada Goose Outlet AGRICULTURAL canada goose outlet vip SERVICES Profit from canada goose outlet washington dc agricultural services, which include grain handling and storage, fell $38 million, or 48 percent, canada goose outlet us due to lower global merchandising and handling results. Canada Goose Outlet

canada goose think this is a particularly challenging quarter and there is upside to this segment going forward, Chief Executive Patricia Woertz said on a conference call. canada goose

uk canada goose outlet Oilseed processing profit fell $8 canada goose outlet england million to $169 million due to lower crush margins and weaker biodiesel processing margins. Canada Goose Outlet uk canada goose outlet

buy canada goose jacket Higher ethanol and sweetener selling prices helped corn processing profit rise $33 million to $252 million, but the division faced higher corn costs. buy canada goose jacket

Canada Goose Coats On Sale Corn prices for the spot contract at the Chicago Board of Trade Cc1 were $3.74 1/2 per bushel on March 30, compared with $2.27 3/4 a year earlier. Spot corn prices rose as high as $4.37 1/4 during the quarter. grains markets have been heightened canada goose factory outlet by massive amounts of managed fund money flowing into the markets during the past two years. Canada Goose Coats On Sale

Last week, Bunge Ltd.

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ADM did not encounter the same hedging losses as Bunge but saw earnings fall in agricultural services for a variety of reasons, including frozen rivers, Woertz said.

canada goose factory sale An analyst pointed out that rivers freeze every winter and pressed for more details on the earnings loss in agricultural services, but https://www.unicorndesigns.ca did not get canada goose outlet las vegas specific answers. canada goose factory sale

canada goose uk outlet of our businesses have trading positions, said John Rice, executive canada goose jacket outlet uk vice president for global marketing and risk management. canada goose outlet boston don separate those out in our earnings at canada goose factory outlet toronto location all. canada goose uk outlet

ADM shares fell $2.46, or 6.3 percent, at $36.24 on the New York Stock Exchange after falling as low as $35.50.

canada goose uk black friday ADM has outperformed the food processing sector, fueled by strong demand for alternative fuels made from crops. (Additional reporting by Brad Dorfman) canada goose uk black friday.

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