US drought dampens ADM profits, ethanol margins

摘要

Washington—Agriculture giant Archer Daniels Midland looks to turn around persistently weak US ethanol margins in 2013 by lowering costs, increasing exports and pushing for wider adoption of gasoline blended with 15% ethanol (E15), after seeing lower fiscal Q1 earnings. Juan Luciano, chief operating officer, said those factors would bring “a little bit of improvement” in ethanol margins next year, but he called it an optimistic scenario. He said a bearish outlook for 2013 ethanol production would continue the recent positive cash flow and negative margins.