Archer Daniels Midland (ADM) NewsBite - ADM Falls on Lower Ethanol

Posted on Wednesday, October 01, 2008 11:04 AM
Archer Daniels Midland (NYSE: ADM) opened at $21.75. So far today, the stock has hit a low of $21.50 and a high of $22.87. ADM is now trading at $21.60, down $0.31 (-1.41%). Over the last 52 weeks the stock has ranged from a low of $19.70 to a high of $48.95. Shares of ADM are declining today, hurt by falling ethanol futures. Technical indicators for the stock are bullish and S&P gives ADM a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on ADM the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]
Stocks To Watch Today: C, TIF, RTP, JCG, HLTH, PDLI, TIE, CAJ, EXM, ILMN, HOC (Click Symbol For Latest News)

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