Archer Daniels Midland Agriculture Services Outputs Doubled

U.S. grain export volume bounced back in the latest quarter and Archer Daniels Midland's agriculture services doubled the outputs because of it. Overall profit came in at 77 cents a share. That's more than a quarter better than a year ago and also better than estimates. Revenue came in at $21.5 billion, which was slightly below estimates. Strong U.S. exports in grain helped the agriculture services tremendously. Chairman Patricia Woertz said she is optimistic about the momentum in exports and ADM is getting ready for future demand. She said, "Crops in North America and Europe are developing nicely, so we are preparing for what could be very large harvests." Corn, sweetener and starch segments also did well. They each grew 20% compared to a year earlier.