ADM’s third-quarter profit nearly doubles

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(Reuters) – Global grain merchant Archer-Daniels-Midland Co on Tuesday reported a 96% rise in third-quarter profit, bolstered by high demand and tight global grain supplies.

Net earnings attributable to ADM were $1.03 billion, or $1.83 per share, in the three months ended Sept. 30, compared with $526 million, or $0.93 per share, a year earlier.