Grain trader Archer Daniels Midland ( ADM ) has reported a 4.5% slump in H1 adjusted profit, which it attributed to downtime and shipping delays caused by heavy rains and flooding, and the China - Q2 trade row. ADM blamed this on heavy rains that halted barge traffic on the Mississippi River and shuttered some of its plants. Adjusted net earnings were $125m from $340m in Q2 2018 , and revenue fell 4.5% YoY to $ 16.3bn . ADM said the delays had cost $125m in lost production in H1 .
Grain trader Archer Daniels Midland ( ADM ) has reported a 4.5% slump in H1 adjusted profit, which it attributed to downtime and shipping delays caused by heavy rains and flooding, and the China - Q2 trade row. Adjusted net earnings were $125m from $340m in Q2 2018 , and revenue fell 4.5% YoY to $ 16.3bn . ADM said the delays had cost $125m in lost production in H1 .