Archer-Daniels-Midland (ADM) to Add Oilseed Crush Capacity at Four US Plants

On August 4, Archer-Daniels-Midland (NYSE:ADM) executives told investors on an earnings call that the company will expand capacity at four US oilseed-crushing plants, a roughly $100 million push into a business that just posted its strongest quarter in years.

The plants sit in Frankfort, Indiana; Deerfield, Missouri; Lincoln, Nebraska; and Spiritwood, North Dakota — the last a joint venture with Marathon Petroleum. Together, the upgrades are expected to add about 700,000 metric tons of crush capacity by 2028 or 2029, and six more sites have already been flagged for possible future growth. In total, ADM has identified 10 US soy processing plants for potential expansion.

CEO Juan Luciano framed the projects as a cheap way to add output, estimating the cost at roughly a quarter of what a brand-new facility would require. The company reported second-quarter adjusted earnings per share of $1.84, above the $1.44 analysts expected, and raised its full-year 2026 adjusted EPS guidance to a range of $5.15 to $5.60, from a prior $4.15 to $4.70. Operating profit in the ag services and oilseeds segment, ADM's largest, jumped 129% year over year to $867 million, with the crushing subsegment alone up $330 million as oilseed volumes climbed about 5%.

That language suggests management wants room to pull back if the current environment does not hold. The projects are expected to fit inside ADM's existing 2026 capital expenditure range of $1.3 billion to $1.5 billion. Luciano said top buyer China appears on track to meet its commitment to purchase 25 million metric tons of US soybeans this year. Not every part of the portfolio moved the same way: the refined products and other subsegment posted a 3% profit decline, and equity earnings from ADM's stake in Wilmar fell 22%. As always, markets move and past results do not guarantee future outcomes.