By Patrick Thomas

Weaker soybean prices are hurting Archer Daniels Midland's business. Uncertainty around the Trump administration's trade with China and policies on fuel blending aren't helping much either.

-- The Illinois-based grain trader and processor on Tuesday cut its profit outlook for the third time this year.

-- ADM now expects adjusted earnings of $3.25 to $3.50 a share for 2025, down from a previous forecast of $4 a share.

-- ADM stock initially traded down, before reversing course to stand less than 1% higher.

Problems at ADM and other grain companies stem from declining earnings following years of low crop prices and weaker demand from buyers.

Bumper crops in North and South America are filling grain elevators. China's limited purchases of soybeans from the U.S. this year have created a supply glut, pressuring crop prices. Meanwhile, U.S. policy requiring more soybean oil to be blended into biofuels, such as diesel, hasn't been finalized, further eroding demand for farmers' harvests.

"Farmers are kind of selling reluctantly, and buyers are kind of hand-to-mouth," ADM Chief Executive Juan Luciano said on an earnings call.

Luciano added that the timing of any benefits from President Trump's recent trade deal with China, which involves purchasing 12 million metric tons this year, remains unclear.

"We really need this clarity on the trade deal. But although on the surface it is positive for ADM and for grain in general, we haven't seen yet a joint document, highlighting the details of this," Luciano said.

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November 04, 2025 11:00 ET (16:00 GMT)

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