Archer Daniels Midland (ADM -4.2%) is initiated at Underweight with a $28 price target at J.P....

|About: Archer Daniels Midland Co. (ADM)|By:, SA News Editor

Archer Daniels Midland (ADM -4.2%) is initiated at Underweight with a $28 price target at J.P. Morgan, which sees ADM's North American capacity (67% of total) remaining under pressure for the foreseeable future due to the Midwest drought and the resulting lack of supply of crops, which likely will hurt margins in ADM's oilseeds processing and ag services businesses in H1.