ADM and Louis Dreyfus, two of the world's largest grains businesses have both posted substantial declines in earnings for 2023, however the two firms remain confident of a quick rebound.
And in ADM's case the sentiment was echoed by the market, with a jump in share price of 6.4pc
Louis Dreyfus is a private company not listed on a stock exchange.
ADM said in its presentation when handing down its results that a decline in grain accumulation volumes and higher manufacturing and corporate costs were the major drivers that led to an overall decrease in earnings to US$3.48 billion ($A5.33b) for 2023, down from $US4.34b ($A6.65b) in 2022, a fall of 6 per cent.
Louis Dreyfus saw a 5.3pc fall in earnings, down to $US2.2b ($A3.37b), with geopolitical instability, such as the conflict in the Black Sea and disruptions through the Red Sea freight corridor causing concern, however the company described its results as "resilient".
There was confidence in ADM's vision and ability to deliver strong results into the future, with its share price up 6.4pc to $US58.46 ($A89.58) per share after the results briefing.
Louis Dreyfus highlighted high crop yields and strong demand from China as positives for the company, while its vegetable oils businesses continued to see robust results.
The 2023 results briefing was the first time the private company has released a report including its full financial results, along with progress in its sustainability roadmap.