Tensions give ADM a grainy outlook

Archer Daniels Midland's declaration of its capital commitments to GrainCorp and price restrictions on grain-handling charges have helped assuage local growers' fears. But politics may yet get in the way.

Archer Daniels Midland has played its final card to try to defuse the ‘small p’ politics afflicting its $3.4 billion bid for GrainCorp. Whether that also removes the ‘big p’ threat to the agreed deal is another matter.

The US-based ADM had originally committed to adding $50 million to GrainCorp’s own plans to invest around $250 million in its businesses over the next four or five years. Today it added another $200 million to that pot, swelling it to $500 million.

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Stephen Bartholomeusz

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