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Archer-Daniels Midland buys, processes and sells agricultural commodities. The company purchases crops from farmers and then transports, stores and/or processes the crops before selling them to food, feed and energy buyers. The basic products that ADM carries around the world are readily available from competitors, and the company has little pricing power over the products it buys and sells, making margins thin. In addition, the capital intensity of its operations makes it difficult, but not impossible, for ADM to generate economic profits.



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