Rahi's questions to Archer-Daniels-Midland Co (ADM) leadership • Q1 2025
Question
Rahi, on behalf of Ben Theurer, asked for color on trade flow shifts due to tariffs, specifically how ADM is replacing Chinese demand and the magnitude of the related volume drop in Ag Services.
Answer
CEO Juan Luciano explained that the tariff impact in Q1 was not significant, with the USTR's Section 301 ruling mitigating risks for agricultural exports. He noted that the U.S. is not competitive with South America for China exports in Q2 and Q3 anyway, providing time for the situation to clarify before the U.S. harvest. He also mentioned China's reliance on U.S. soybeans has already decreased.