Archer Daniels Midland (NYSE:ADM) To Grow Through Acquisitions

Archer Daniels Midland (NYSE:ADM) said after their quarterly report yesterday that their expansion plans are primarily to grow through mergers or acquisitions.

CFO Steven Mills said that's the key reason for maintaining a strong balance sheet.

This implies that organic growth isn't going to happen and they may be maxed out there.

Third-quarter profits for ADM missed analysts' estimates because of a decline in prices of starches and sweeteners.

The rest of the year looks tough for the company as well, with prices of corn syrup and ethanol expected to continue dropping.