Rank: 28 (Previous rank: 39)
CEO: Patricia A. Woertz
Was this company a 2011 top stock?
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Volatile corn prices and instability in the eurozone have made things difficult at Archer Daniels Midland, the world's largest grain processor, which reported an 89% earnings decline in January 2012 for its second quarter compared to the previous year. The company has suffered from a few failed bets and had to cut its losses and leave a bioplastics joint venture arrangement with Metabolix Inc. in January. ADM's ethanol exploits haven't paid off much either. The company announced in February that it was going to close an ethanol plant in North Dakota and cut 1,200 jobs from its ranks worldwide in an effort to reduce expenses.
Despite the bleak news, ADM jumped a few spots on this year's Fortune 500, aided by the fact that it posted an increase in revenues of more than 30% for its 2011 fiscal year.
Industry: Food Production