ADM offers incentives to lure soybean deliveries

Archer-Daniels-Midland, one of the world’s biggest grain merchants, is offering incentives for US farmers to deliver soybeans to one of its major processing facilities this month as low prices have slowed selling by growers, informed a grain trader and a company employee with knowledge of the matter. In an unusual offer during the peak of autumn harvesting, ADM is allowing farmers to deliver soy to its facility in Decatur, Illinois, and set the final sale price later, without paying for storage, the two sources said. In exchange, ADM will take ownership of the soybeans, enabling it to process the crops, they added. A company spokesperson declined to comment. Bumper harvests have been pressuring crop prices and farmers are reeling from high costs for fertilizer and other inputs. What’s more, China, the largest soybean importer, has responded to President Donald Trump’s trade tariffs this year by turning to South America, depriving US farmers of their primary market. Many farmers ...