Archer-Daniels-Midland Co (ADM)

Archer-Daniels-Midland Company (ADM) is a global agricultural supply chain manager and processor, and a provider of human and animal nutrition and health and well-being products. It partners with thousands of farmers to buy their crops and uses an integrated global origination, logistics and manufacturing network to turn raw commodities into products for the food, feed, fuel, and industrial and consumer products sectors. It is also a key producer of biofuels, invests in research and process improvement, and is advancing bio-based solutions and carbon capture and sequestration. The Company holds equity investments and joint ventures that expand or enhance the market for its products.

ADM reports three segments. Ag Services and Oilseeds handles the origination, merchandising, transportation and storage of agricultural raw materials and crushes and processes oilseeds such as soybeans, cottonseed, sunflower seed, canola, rapeseed and flaxseed. It produces vegetable oils and protein meals, supplies peanuts and peanut-derived ingredients, and makes cotton cellulose pulp. The segment includes a 22.5% equity interest in Wilmar International Limited. Carbohydrate Solutions mills corn and wheat to make sweeteners, starches, syrups, glucose, wheat flour, dextrose, ethanol, distillers' grains, corn gluten feed and meal, corn germ oil and protein meal, and citric acids. Nutrition supplies plant-based proteins, natural flavors and colors, flavor systems, emulsifiers, soluble fiber, polyols, hydrocolloids, probiotics, prebiotics, postbiotics, enzymes, botanical extracts, edible beans, formula feeds, animal health products, and contract and private label pet treats and foods. Corporate includes ADM Ventures, which invests in early-stage start-ups. Other includes ADM Investor Services, a futures commission merchant and brokerage, and the captive insurer Agrinational.

ADM serves food, beverage, nutritional supplement, livestock, aquaculture, pet, energy (including renewable diesel makers), chemical, paper and industrial customers worldwide. No material part of the business depends on a single customer or very few customers. Soybeans, soybean meal and corn each accounted for 10% or more of revenues in 2025 (17%, 11% and 13%). Operations are weighted toward the northern hemisphere, and inventories typically peak after the northern hemisphere fall harvest.

Raw materials are mostly agricultural commodities, bought from thousands of growers, grain elevators and wholesale merchants in North America, South America, EMEA and Asia-Pacific, mainly under short-term agreements or on a spot basis. ADM owns or leases trucks, trailers, railcars, river barges, towboats and ocean-going vessels to distribute products. It competes on price, foreign exchange rates, quality, global supply and alternative products. In Nutrition, competitors include ingredient suppliers, contract manufacturers, global consumer goods companies, private label brands and niche specialists. R&D expense was $246 million in 2025, with innovation centers on three continents. ADM had 41,496 employees at the end of 2025, and intellectual property with a net book value of $579 million, more than 95% of it in Nutrition.