ADM's Turmoil Grows Deeper

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ADM's nutrition unit aided executives in earning over $70 million, but now faces investigation for accounting practices, despite contributing less than 10% to the company's revenue. Executive bonuses were heavily influenced by the nutrition sector, with stock bonuses tied to its growth between 2020 and 2021. The top seven executives received shares valued at nearly $72 million.

The world's first ethanol-to-sustainable aviation fuel (SAF) production facility, Freedom Pines Fuels, opened in Georgia, producing 10 million gallons of SAF and renewable diesel annually. The Biden administration aims to produce 3 billion gallons of SAF annually by 2030. The technology used at the facility will reduce greenhouse gas emissions by more than 70%, providing new economic opportunities for American agricultural producers. 🌱✈️🛢️

Glencore and Viterra filed a lawsuit against Louis Dreyfus, alleging the artificial inflation and manipulation of cotton prices in 2011, causing over $200 million in losses. Cotton prices tripled between July 2010 and March 2011, reaching a record high of $2.20 per pound.

US ethanol production fell by 22% last week, with stocks at 25.8 million barrels. Implied gasoline demand was down 4.8%, and on average over the last four weeks, implied US gasoline demand is slightly lower compared to the same period last year. 📉🛢️🇺🇸

Farmers in France continued protests against government regulations, cheap imports, and rising costs. Demonstrations involved road blockades, fires, and manure spraying on government buildings. Farmers demanded higher prices, citing threats to livelihoods due to falling prices after a period of high inflation. The French government is expected to propose solutions soon. 🚜🔥🇫🇷