The margin has basically doubled versus when we started. The business has been driving efficiencies for the last few years and more efficient global trade operations with trading activities that leverage the supply chain, and something that has been very important when we have these discontinuities has been boots on the ground, the ability that we have to read markets and adjust quickly now with our destination marketing efforts, with more people around the world, with better coordination, that has all resulted into this.
On slide 11, Carbohydrate Solutions results were down modestly versus the second quarter of The Crushing and Origination business did a great job, delivering on continued strong global demand for soybean meal.
I think, leading up to that, I think everyone in the industry is going to remain fairly negotiating freight rates in the short term. You may now disconnect. The fact that prices have come down has actually stimulated demand. As I said to what we have today, July was still strong in demand.
We are moving forward on our integration planning. Ocean freight was up for the quarter and destination marketing volumes continue to grow. If you have any sense of when this is going to be resolved and how you're positioning ADM to minimize any potential impact or actually maybe benefit from that disruption.
And then this new layer on top of that which Juan has indicated, the Readiness initiatives which we'll quantify as we get towards the next earnings call.
The short crops in South America, as well as increased purchases from that region by China in anticipation of tariffs offered motivation for other buyers to come to the U.
And then staying on Oilseeds, industry margins, crush margins, are great. I think, Ann, a couple observations, I mean demand for protein in United States remains strong and, actually, globally remains strong for animal protein.
I think we've been disciplined in the medium size ones that we always take some time to digest. For the year, the continued impact of the short crops in South America and growing contributions from some of our more value-added businesses like destination marketing and stevedoring should continue to support strong performance.
So, when I look at your return on invested capital, I think now your rolling 12 months is 7.
Readiness will help the company in two fundamental ways. The end of the EU sugar regime and the delay in the implementation of the lifting of the quotas in Turkey negatively impacted results in European liquid sweeteners, partially offset by contributions from our Chamtor acquisition.
And, of course, Barcarena, being our newest port, takes a lot of our volume. So, when you look over the medium term, we are constructive that incremental demand from China will tighten up supply-demand balances in the U.
Ethanol industry inventories could build if China does not reenter the market, putting some risks on margins. That's where you're going to see a better results from this business. In Carbohydrate Solutions, the team has done a good job managing through the upgrades indicator. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper.
Expectation is sometime in August. Is there any change to the way that farmers are behaving yet or is it too early to tell. Slide 4 provides some financial highlights for the quarter.
We've been adjusting to these new realities, if you will, over the last three or four years. We're seeing demand needing to be — we're seeing supply needed to be maybe 10 million tons higher year-over-year just to cover demand. Ray, in his remarks, also mentioned about the impact that destination marketing, stevedoring and other new businesses than Origination have had on our results.
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Address 77 West Wacker Drive Suite Chicago, IL United States. Archer-Daniels-Midland Co. (NYSE:ADM) Q2 Earnings Call July 31, AM ET Executives Victoria de la Huerga - Archer Daniels Midland Company Juan Ricardo Luciano - Archer-Daniels-Midland. Archer Daniels Midland Co.
reported third-quarter earnings and revenue that rose above expectations, as growth in origination, oilseeds and nutrition revenue offset a decline in carbohydrate.
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