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Markets News

CORRECTED-Grain trader ADM reports 44% drop in quarterly profit

(Corrects to remove dollar sign in second paragraph)

Oct 29 (Reuters) - U.S. grains merchant Archer Daniels Midland Co reported a 44.7% drop in third-quarter profit on Thursday, hurt by higher costs.

Net earnings attributable to ADM fell to $225 million, or 40 cents per share in the three months ended Sept. 30, from $407 million, or 72 cents per share, a year earlier.

Reporting by Arundhati Sarkar in Bengaluru; Editing by Bernard Orr

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