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| The Anderson's, ANDE follow up
- record 2Q earnings in Grain & Ethanol
- record first half in Grain & Ethanol
- Plant Nutrient business second highest 2Q in groups history
- First half EPS $2.02 almost equal to 2009 full year $2.16
- Management expects 2H to be similar to 2009 2H
- There will be big demand for space in corn in the fall
- Will earn good carry in corn but space will be tight due to large wheat inventory
- Been long wheat for a long time so constantly selling wheat
- Rail segment appears to have stabilized and trending in the right direction, expect rail to return to profit in 2011
- Ethanol locked in pricing to protect 1H margins
- Plant nutrient will continue to improve
- Retail still tough
- Q3 seasonally soft
Bruce | |
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Andersons quarterly report - how basis helps
