Archer-Daniels-Midland Company (ADM)

The workshop is ongoing at present, but yesterday at noon ET, CARB published a slide deck to accompany the workshop hosted today (from noon to 7p ET). The rule is not yet definitive, but the…

As we noted in our industry notes published earlier today, we are not utilizing the typical rating system, but instead, are using a forced rank process. This note shows current ranking based upon Friday’s close.

In our view, ADM boasts one of the most attractive footprints in the global agribusiness sector and we like that it has actively worked to shift product streams to higher growth and/or margin markets. This…