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... • profit in adm’s oilseeds processing segment increased $ 24 million on strong results across the value chain ... • corn processing profit increased $ 153 million as ethanol margins and volumes improved ... chairman of the board and chief executive officer patricia woertz, said: “the adm team performed solidly in both corn and oilseeds with both businesses well positioned to meet demand ... oilseeds processing the company recorded that oilseeds operating profit increased $ 24 million for the quarter, to a profit of $ 308 million ... corn processing for the quarter, corn processing results increased $ 153 million to a profit of $ 341 million ... corn processing volumes were up, reflecting the capacity of the company’s new dry mills ... this decrease reflects lower average selling prices that were only partially offset by lower net corn costs ... bioproducts profit in the quarter was up significantly from last year’s loss on improved ethanol and lysine margins, a favourable corn ownership position and increased ethanol sales volumes

... mgpi also fortified its high quality alcohol capabilities by forming a joint venture, illinois corn processing, llc (icp)

... management commentary: overall, the group operated satisfactorily in the third quarter despite the continuing rising corn cost which put pressure on the group’s gross profit margin ... we have processed approximately 303,000 tonnes of corn in the third quarter, an increase of approximately 2% over the same period of last year, representing a normal utilization rate of approximately 80% on our corn processing facilities ... for sales performance, we were able to pass-on the increase in production cost, which was mainly the increase in corn cost under the general inflationary environment in china, through raising the selling prices of most of our key products ... despite the year- on-year increase of our corn cost of approximately 18%, the average selling prices for our crystalline glucose and sodium gluconate have increased respectively by 19% and 24% ... however, owing to the oversupply of hogs and the related weakening demand for animal feeds in china during the third quarter, the average selling prices for our corn feed products - corn gluten feed and corn gluten meal dropped by 4% and 6% respectively

... we expect 10 percent growth in the next five years (2011-2016), or at least 5 percent growth," wang licai, vice-chairman of the china starch industry association, told reuters on the sidelines of a corn conference in dalian ... yu zuojiang, deputy general manager of cofco ltd's biochemical and bio-energy division, said beer makers were using more corn starch as a substitute for rice and he expected starch production to grow by 5 percent in coming years ... singapore-listed china sun bio-chem technology group co ltd plans to double its corn starch production to 4 million tonnes within the next five years because of strong sweetener demand, its deputy general manager wu jingjie told reporters ... 78 million tonnes of corn starch in 2009, accounting for 63 percent of the 41 million tonnes of corn used in the whole of its corn processing industry, including ethanol production ... beijing has banned new ethanol plants from using corn because of food security concerns since 2007 ... beijing has said it would also not approve new investments in the starch processing industry, but growth had continued over the past few years during an industry restructuring in which big companies took over smaller rivals, industry officials said ... expansion of the starch processing industry and rising feed demand have driven up the country's corn consumption and could prompt shortages at home in future as domestic production may not be high enough to meet growth in demand ... wang said the recent surge of china's corn imports was driven by the feed industry, not by processors, which were still uncertain whether beijing would allow genetically modified imported u ... corn to be used in food additives ... "more imports by the feed industry could leave more domestic corn for the processing industry ... this year is a turning point for corn imports, in future, imports will become regular," said wang

... the sales improvement was principally due to higher sales of high quality food grade alcohol that resulted from increased output from the company's previously announced joint venture, illinois corn processing (icp), llc ... the per bushel cost of corn averaged approximately 11 percent lower than the fourth quarter of fiscal 2009 ... food grade alcohol sales decreased to a significantly lesser extent due primarily to a reduction in average selling prices, which followed a decrease in corn prices

... however, the two events, the adoption of policy by the chinese government to regulate corn processing sector and the melamine scandal, have caused many small scale players to leave the industry, resulting in a more balanced supply and demand development ... therefore, notwithstanding the rise in corn cost of 25% yoy, we could adjust the selling price of glucose to increase by more than that of about 40% ... the sales revenue of our corn feed products, corn germ and sodium gluconate also achieved meaningful increase ... corn is the major raw material ... corn cost accounted for approximately 75% of the total cost of sales ... domestic corn price has kept increasing in the first half of this year ... it is expected corn price will be in upward trend in the long run ... the group considers the increase in corn price in gentle pace would motivate the farmers to grow corn, which in turn provides enough raw material supply

... the food ingredients company announced plans to increase the capacity of its corn processing facility in boleraz, slovakia, in may 2009 ... the decision was largely influences by an increased quota for isoglucose (known as high fructose corn syrup in the us), which is tied to the sugar regime in europe ... com that increase in corn processing capacity is still underway, but progress has already been made ... in time, there will be an increased production for all the ingredients derived from that corn: not only glucose syrups and isoglucose, but also for starches and maltodextrin ... it is located in the slovakian corn belt, and mostly serves customers in mainland europe “because proximity to market counts”

... mgp ingredients (mgpi) has entered into a joint venture agreement with seacor energy's affiliate, illinois corn processing holdings, to reactivate distillery operations at its facility in pekin, illinois ... the facility will be owned and operated by a separate entity called illinois corn processing, and initially will be dedicated to the production of alcohol for beverage, industrial and fuel applications ... seacor energy has paid mgpi $15m for a 50% ownership interest in illinois corn processing ... randy schrick, who has been named president of illinois corn processing, will be overseeing the operation

... a similar boiler design is also being used in a new tate & lyle corn processing facility in iowa, which will come on stream by march 2009 ... " other companies making significant changes to be more environmentally friendly include potato processing company mccain foods, which is investing £10m in new technology

... likewise, the increase in corn processing capacity at hungrana will be a positive driver of our revenue trend