ADM Says Global Market Is Relying On North American Crops

(Dow Jones) -- Archer Daniels Midland Co. said the global market has started to rely on North American crops, boosting results at the commodities giant after challenging market conditions earlier this year.Archer Daniels Midland, among the world's largest agribusinesses and a major ethanol producer, posted profit that easily topped Wall Street expectations, amid improved economic conditions in the third quarter after lower ethanol-production margins and sluggish overseas demand for North American crops had dented its bottom line.Chief Executive Juan Luciano said the company's agriculture services unit posted strong results, "driven by U.S. exports that surged through the quarter, creating improved merchandising opportunities as the global market relied heavily on U.S. exports of corn and soybeans."Revenue from agricultural-services, its largest segment, rose 5.4% to $6.96 billion, while operating profit climbed 30% in the segment.The Chicago-based company said revenue in the corn-processing business fell 5.1% as the oilseed-processing business posted a 14% drop in revenue.**Fertilizer Maker Mosaic Results Helped by More Stable Prices(Dow Jones) -- Fertilizer maker Mosaic Co. (MOS) said potash and phosphate prices strengthened in the latest quarter as results topped Wall Street expectations.Chief Executive Joc O'Rourke said the quarter's results reflected improvement from the first half of the year as "pent-up demand materialized."For the third quarter ended in September, the company posted a profit of $39.2 million, or 11 cents a share, compared with $160 million, or 45 cents a share, a year earlier.Sales fell 7.3% to $1.95 billion.