Louis Dreyfus, one of the world’s top grain trading firms, pointed to improved signs for its commodity trading activities as it posted higher first-half profits in the face of a continuation of high staple crops supplies.
Along with its peers, Louis Dreyfus has been overhauling its businesses as margins for buying, selling and shipping agricultural goods have been eroded by large stockpiles and reduced price volatility.
The trading house reported on Thursday group first-half net profits of $160 million, up from $135 million a year ago, while its segment operating profits also rose to $602 million, from $546 million last year.
