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S Illinois | We need to pump the brakes hard on this. People are reading way way too much into this. Big difference between MF Global and its primary business in the equity and security market and ADM as the largest grain processing company in the US. Shady accounting in an offshoot branch of a multi billion dollar company is much different than leveraged accounts bringing down a smaller trading company.
While I don’t admonish anyone from pulling their accounts, this isn’t anything like MF. And no ADM isn’t going away.
Edit: Will add if one is fearful that ADM is going under, don’t contract a bushel of grain with anyone. The whole grain complex would be turned upside down overnight and it wouldn’t stop at ADM. Lots of smaller elevators and trading companies do a lot of business with ADM.
Edited by w1891 1/24/2024 08:14
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Liquidated my ADMIS account. Rash decision?
