ADM reports 'very challenging' first half

Market conditions started to turn in quarter, presenting improved opportunities for second half.

Archer Daniels Midland Co. (ADM) has reported financial results for the second quarter ended June 30, 2016.

ADM said as-reported earnings per share (EPS) of 48 cents included a charge of 9 cents per share related to last in/first out, gains of 17 cents per share related to sales or revaluation of assets and other charges of 1 cent per share. Excluding these items, adjusted EPS was 41 cents.

“After a challenging start to the year, general market conditions began to turn at th

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