Feb 3 (Reuters) - Archer-Daniels-Midland (ADM.N) , opens new tab on Tuesday forecast current-year adjusted profit below analysts' expectations, reflecting continued deferral of U.S. biofuel policy and flat crush margins, sending its shares down 4.6% in premarket trading.

Last month, Reuters reported that the Trump administration plans to finalize 2026 biofuel blending quotas by early March, keeping them close to its initial proposal while dropping a plan to penalize imports of renewable fuels and feedstocks. The policy was originally expected in late October 2025.

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It would be one of the administration's most consequential decisions on energy policy, providing clarity on quotas. Due to the deferral, companies said they are forced to hold back on deals and delay spending decisions that shape output and margins.

The delay, particularly regarding renewable fuel blending requirements, slowed use of feedstocks like the soybean oil produced at ADM processing plants.

Operating profit from agricultural services and oilseed segment, its largest segment, slumped 31% in the reported quarter to $444 million.

The Chicago-based company expects 2026 adjusted earnings to be between $3.60 per share to $4.25 per share, the midpoint of which is less than analysts' average estimate of $4.24 apiece, according to data compiled by LSEG.

https://www.reuters.com/sustainability/climate-energy/grain-trader-adm-forecasts-downbeat-2026-profit-us-biofuel-policy-delay-2026-02-03/