March 1, 2022

ADM closes grains terminal in Ukraine following Russia invasion

Major US-based commodities trader Archer-Daniels-Midland Co said it has closed its facilities in Ukraine, which includes a grain export terminal and oilseed crushing plant, following Russia's invasion into Ukraine, Reuters reported.

The company operates a grain port terminal in Ukraine's port city of Odessa, an an oilseed crushing plant in Chornomorsk, five inland and one river silos, and a trading office in Kyiv.

The company employs more than 630 workers in Ukraine, according to its website.

Grains traders are searching for alternative sources for corn and wheat to cover immediate shipping and loadings in March and April as Ukraine closed its ports due to the conflict. France and Romania have emerged as key sources for both commodities.

-      Reuters