April 30, 2020 / 4:40 PM / a month ago

BRIEF-ADM Expects AG Services And Oilseeds Results In Q2 To Be Much Lower Than Last Year - Conf Call

April 30 (Reuters) - Archer Daniels Midland Co:

* ARCHER DANIELS MIDLAND CO CEO SAYS COMPANY HAD ITS FIRST COVID-19 RELATED FATALITY AMONG EMPLOYEES TWO WEEKS AGO - CONF CALL

* ARCHER DANIELS MIDLAND CO CEO SAYS WILL EXPECT TO SEE SOME OF GASOLINE DEMAND BUILD BACK IN AS ECONOMIES REOPEN - CONF CALL

* ADM CEO SAYS INCREASE IN ONLINE CONSUMER PURCHASES IS IMPACTING DEMAND FOR INDUSTRIAL STARCHES USED TO MAKE CARDBOARD - CONF CALL

* ADM CFO - REDUCING 2020 CAPITAL SPENDING PLANS, EXPECT IT TO BE CLOSER TO $800 MILLION, DOWN FROM OUR INITIAL GUIDANCE - CONF CALL

* ADM CFO - WILL CONTINUE ADVANCING PROJECTS & INVEST IN MAINTENANCE NEEDED TO RUN OPERATIONS, BUT SOME DISCRETIONARY PROJECTS WILL BE PUT ON HOLD - CONF CALL

* ADM CFO - FOR AG SERVICES AND OILSEEDS EXPECT Q2 SEGMENT RESULTS TO BE LOWER THAN Q1 - CONF CALL

* ADM - FOR AG SERVICES AND OILSEEDS, EXPECT Q2 RESULTS TO BE LOWER VERSUS Q1 ALSO AS RPO BUSINESS HAS SOME HEADWINDS ON NEAR-TERM DEMAND - CONF CALL

* ADM - FOR AG SERVICES AND OILSEEDS EXPECT Q2 RESULTS TO BE LOWER VERSUS Q1 AS AG SERVICES SEASONALLY NORMALIZES, CRUSH MARGINS COME OFF HIGHS - CONF CALL

* ADM - IN CARBOHYDRATE SOLUTIONS, EXPECT Q2 TO BE MUCH LOWER THAN Q2 2019 AS ETHANOL INDUSTRY DEMAND, MARGINS CONTINUE TO BE NEGATIVE DRIVER- CONF CALL

* ADM - IN CARBOHYDRATE SOLUTIONS, EXPECT Q2 TO BE MUCH LOWER THAN Q2 2019 ALSO AS FOOD SERVICE DEMAND NEGATIVELY IMPACTS STARCHES, SWEETENERS-CONF CALL

* ADM SAYS ORDERS IN SWEETENERS AND STARCHES HAVE INCREASED OVER LAST 2 WEEKS, GOING TO SEE A BIGGER IMPACT IN Q2 THAN Q1- CONF CALL

* ADM CEO - SEEING FOOD SERVICE BUSINESS SECTOR IN ASIA GETTING BACK TO MAYBE 70% TO 80% OF PRE-PANDEMIC LEVELS - CONF CALL

* ADM CEO - DEMAND FOR SOYBEAN MEAL GOING TO BE LOWER THAN WE HAD ANTICIPATED, BUT IT NEEDS TO BE THOUGHT OF AS A TEMPORARY ADJUSTMENT - CONF CALL

* ADM CFO - IN EUROPE, SEEING MORE OF A HIT IN TERMS OF BIODIESEL DEMAND - CONF CALL

* ADM CEO SAYS STARTING TO SEE INCREASE OF CHINESE IMPORTS OF U.S. PORK, POULTRY; WILL HELP IN MEDIUM-TERM DEMAND FOR SOYBEAN MEAL - CONF CALL

* ADM CEO - WE ARE RUNNING AS MUCH SOY CRUSH IN EUROPE NOW AS WE CAN - CONF CALL

* ADM CFO - U.S. BIODIESEL DEMAND HELD UP REASONABLY WELL, AS AIRLINES SLOWED DUE TO PANDEMIC, AND A LOT OF GOODS STARTED MOVING ON TRUCKS - CONF CALL

* ADM CEO - IN MARCH, SOYBEAN OIL STORAGE BECAME A LIMITING FACTOR FOR SOY CRUSH - CONF CALL

* ADM CEO - “THERE’S A LOT OF PEOPLE FIGHTING FOR LIQUID STORAGE THESE DAYS IN NORTH AMERICA” - CONF CALL

* ADM CEO - DEMAND FOR MEAT HAS CONTINUED TO BE VERY STRONG; MOST OF ADM’S CUSTOMERS ARE EXPORTING “A LOT” OF THEIR MEAT TO CHINA - CONF CALL

* ADM CFO - “VERY ENCOURAGED” IN TERMS OF CHINA AGRICULTURAL PURCHASES, INCLUDING WHEAT, CORN “AND THEN SOME SOYBEANS ALSO RIGHT NOW”

* ADM CFO - AS CHINA MOVES TOWARDS HONORING $36 BILLION OF AGRICULTURAL PURCHASES, IT’S VERY POSSIBLE THAT ETHANOL WILL ENTER THE PICTURE, PARTICULARLY IN Q4

* ADM CFO - WE THINK CHINA WILL BE INCREASING AMOUNT OF PURCHASES OF U.S. AGRICULTURAL PRODUCTS AS WE MOVE THROUGH THE YEAR - CONF CALL Further company coverage:

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