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The agricultural processor’s most recent quarter benefited from contracts that were inked when commodities prices were high, but the evaporating ethanol market is worrying investors. But a sharp profit fall in its corn processing division, attributed to weakness in the ethanol market, sent shares down early in the day before they rebounded to close at $27. The firm’s agricultural services division helped lift profits on heftier profit margins on transactions made during volatile commodity and freight market conditions. Soft demand for ethanol, however, sent profits in its corn processing division tumbling to $29. Ar cher Chief Executive Patricia Woertz said the near collapse in the market for ethanol said the market for ethanol reduced profits at the company’s broad network of new biofuels refineries. read more

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