Cargill Earnings Fall 28%
Tue Apr 8, 2014 11:17 AM CDT

(Dow Jones) -- Cargill Inc. on Tuesday said its fiscal third-quarter profit fell 28%, as a power-trading loss weighed on the commodities giant's results.

The company said an "unprecedented price spike" in U.S. power markets in January led to the unspecified trading loss, part of which it has since recovered. Energy industry publication in February reported the loss was about $100 million, but Cargill later said the figure was inaccurate.

Cargill, whose businesses include grain trading and processing, meatpacking, and salt mining, reported net earnings of $319 million for the quarter ended Feb. 28, down from $445 million a ...

Quick View
Related News Stories
Ag Interest Rate Snapshot
Co-ops See Record 2014 Income, Revenue
Harnessing Drones
Monsanto Posts 4Q Loss
Taxlink by Andy Biebl
Groups React to TPP Deal
Negotiators Reach TPP Deal
Klinefelter: By the Numbers
USDA Finds Probable PED Virus Source
Minding Ag's Business