Wednesday, February 6, 2013

Wilmar / Noble

Wilmar / Noble: Could see some positive sentiment after peer Archer-Daniels reported a six-fold increase in qtrly profits as strong demand for oilseeds helped the agricultural giant shake off the drag of a historic US drought.Results topped Wall Street estimates, sending shares up 3.8 per cent. US soybean operations ran at record capacity during the qtr, with & Grp’s CEO was quoted as telling analysts on a conference call that the sector was “firing on all cylinders” because of export demand for soybean meal. Recall 2 days back, China Agri (606.HK) announced that its 2H12 net profit is expected to be comparable to that of 2H11. This is driven by a strong recovery in oilseeds processing margin in 2H12 which is in line with house view for the sector.

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