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ADM sees opportunity in NAFTA talk

Archer Daniels Midland Co. (ADM) says there are potential opportunities for American agriculture if the Trump Administration renegotiates NAFTA.

In a transcript provided to Brownfield, ADM Chairman & CEO Juan Luciano says if trade relations, with Mexico were disrupted, ADM could supply more products to U.S. food and beverage companies.

He says about two billion pounds of high fructose corn syrup are exported to Mexico annually, while three billion pounds of sugar are shipped north from Mexico. If that trade were disrupted, he says  ADM could sell more high-fructose corn syrup in the U.S. to replace Mexican sugar.

On Tuesday ADM reported that net income for the fourth quarter fell 41%, more than analysts anticipated. Luciano says improved pricing and strong global demand for grain had ADM corn-processing, grain-trading and flavoring divisions on pace to improve profits in 2017.

ADM declined to comment further on this story.