Archer-Daniels-Midland posts drop in second-quarter profit

Archer-Daniels-Midland ADM posted a fall in second-quarter profit on Tuesday, hurt by weakness in oilseed crush margins and weak performance in its grain origination and crushing business.

The Chicago-based company reported net earnings of $219 million, or 45 cents per share, for the quarter ended June 30, down from $486 million, or 98 cents per share, a year ago.