BEIJING Feb 28 Three senior grain traders at
Archer Daniels Midland Co have left the company's China
team since the start of the year, people familiar with the
matter said, the latest in a series of high-profile exits as the
global agricultural merchant struggles with a supply glut and
Shen Ben and Wang Shaojun, who traded soymeal, left the
company's Shanghai office last week, a person with direct
knowledge of the matter told Reuters. Their future plans are not
Meanwhile wheat trader Cui Xiangdong left the company in
January to join Australian agribusiness Graincorp's
China business, according to two people familiar with the
matter. Graincorp's media relations director Angus Trigg
confirmed the appointment.
The people with knowledge of the departures declined to be
identified because they were not authorised to discuss the
The moves echo the recent departures of the chief executive
of ADM's trading arm in Asia, Frederik Groth, and the firm's
head of corn trading Victor Petzold.
The changes come after a volatile year for global commodity
traders, with bumper crops in major growing nations like the
United States depressing prices and intensifying competition
An ADM spokeswoman, Jackie Anderson, said the firm does not
comment on personnel matters.
(Reporting by Dominique Patton; Editing by Kenneth Maxwell)