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ADM has posted its second-quarter results, highlighting earnings of $927 million, which beat Wall Street expectations. The company's earnings per share of $1.89, adjusted for one-time gains and costs, beat the average estimate of seven analysts surveyed by Zacks Investment Research of $1.59 per share. Agriculture and oilseed results were strong but slightly lower than in the second quarter of 2022. Results for North America were slightly lower year-over-year, driven by lower export volumes due to large South American supplies. Global soy crushing margins remained strong but were lower year-over-year in all regions due to softer demand for both meal and oil, and a tight US soybean carryout. However, this was partially offset by strong soft seed margins and higher volumes, supported by the Canadian canola crop and the use of ADM’s flex capacity in EMEA. Chairman and CEO of ADM, Juan Luciano, said: “Through our second quarter results, ADM has once again shown that the diversity of our business portfolio and our integrated value chain have enabled our team to consistently deliver excellent results, even in very dynamic market conditions. Our pursuit of trend-based innovation and our relentless focus on driving efficiencies across the enterprise continue to create value for our customers and shareholders.” Luciano commented that ag services and oilseeds leveraged ADM’s recent investments in infrastructure and operations to achieve “record origination volumes in Brazil,” while carbohydrate solutions delivered strong results across global starches and sweeteners. Nutrition achieved strong results in flavours and drove “continued expansion of the customer base and opportunity pipeline” while also addressing softer demand within other parts of the segment.