ADM declares force majeure along US Gulf terminals, Bloomberg News reports
Global grains trader ADM has halted loading of grain vessels and declared a force majeure at U.S. Gulf terminals as the region faces a severe winter storm, Bloomberg News reported on Wednesday.
ADM has declared force majeure in southern Louisiana, the report said, citing a person familiar with the matter.
The company did not immediately respond to a Reuters request for comment.
Force majeure declarations are intended to suspend a company’s contractual liabilities for supply outages in the wake of disasters that lie beyond its control.
Source: Farmtario.com