ADM Sows Spending in Soybean, Ethanol Projects as Ag Market Booms
Attachment: ADM 1Q23
Researched by Industrial Info Resources (Sugar Land, Texas)--Archer Daniels Midland Company (NYSE:ADM) (ADM) (Chicago, Illinois) reaped the rewards of heavy demand and tight global supply of grain and oilseeds in the first quarter of 2023. As its Ag Services and Oilseeds segments benefited from these global trends, ADM weighed its role in the ongoing markets for soybean-based products and ethanol.
Industrial Info is tracking $1.6 billion worth of active projects from ADM, more than $1.27 billion of which is dedicated either to plant expansions or projects to be built at previously developed sites. One of its largest projects under development is an expansion of a soybean-processing plant in North Dakota, which it co-owns in a partnership with Marathon Petroleum Corporation (NYSE:MPC) (Findlay, Ohio). ADM also is partnering with Wolf Midstream (Calgary, Alberta) on a carbon-capture and sequestration (CCS) pipeline.
