ADM profit jumps on strong results in oilseeds

The American agribusiness company Archer Daniels Midland (ADM) reported on Tuesday a quarterly profit higher than expected, with strong margins in the processing of oilseeds and a robust global demand for soybean meal.
ADM reported a profit of 493 million, or 77 cents per share, compared with $ 267 million, or 40 cents per share, a year earlier.
Excluding non-recurring items, profit rose to 80 cents per share, up from 64 cents in the same period last year, surpassing analysts ' expectations of 71 cents.