NEWS
2012 Drought Affects Ag Giant
Wed Mar 26, 2014 11:40 AM CDT

LONDON (Dow Jones) -- Agricultural trading giant Louis Dreyfus Commodities BV Wednesday reported a sharp dip in profits last year thanks to the aftereffects of a severe drought in the U.S. in 2012.

The company, which together with Archer Daniels Midland, Bunge and Cargill dominates the global trade in agricultural commodities, said net income fell to $640 million last year, compared with $877 million including discontinued operations in 2012.

A poor harvest of grains in the U.S. two years ago created a difficult environment in the first half of 2013 as tight supply limited trading opportunities, Louis Dreyfus said. By ...

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