This morning, Archer-Daniels Midland (ADM) reported that some of its North American operations have been affected by this adverse weather.
In the early part of March, powerful snow and rain storms and a lot of post-storm flooding and its overall after-effects affected both the company's Carbohydrates Solutions and its Origination operations. Rail transportation has also been disrupted in that region; its corn processing complex in Columbus, Nebraska was idled due to flooding and is running at lower rates, and unfavorable river conditions since December have been severely limiting barge transportation.
As a result of this, the company is now forecasting that is expects to take a $50-60 mln hit to its first quarter pre-tax operating profit.
The company said that the impact will be roughly equal between its Carbohydrate Solutions and Origination operations, with some minor impacts to its other segments.
More color will be provided on the company’s first quarter earnings call, which is currently expected to occur on April 30.