Ag services saw good execution in North America amid strong global demand for U.S. commodities.

Merchandising and handling results increased on strong export volumes in an improved margin environment. However, the global trade desk incurred losses, driven by poor execution and limited forward merchandising opportunities.

Transportation performed well, with modest improvements in results despite an environment of lower freight rates.

Milling and Other had another strong quarter driven by solid product margins—including wheat merchandising and handling income—and sales volumes.

Corn Processing posted significantly improved results. Good performance in sweeteners and starches was driven by solid demand in North America and improved contributions from international operations. Higher results in bioproducts were driven by improved ethanol margins and volumes as a result of robust domestic and export demand.

Animal nutrition posted improved results, in part due to operational improvements in the company’s lysine production processes.

Oilseeds processing results were comparable to the challenging year-ago period. In crushing and origination, South America results were impacted by reduced volumes as a result of the short 2016 soybean and corn crops in Brazil. Global soybean crush margins were negatively impacted by ample substitute proteins worldwide, despite strong global crush volumes. Softseeds performance improved due to higher volumes and margins, driven by more favorable seed supply and better demand for oil.

Refining, packaging, biodiesel and other posted continued strong performance, bolstered by good demand for refined oils and biodiesel.

Results in Asia improved over the prior-year quarter, reflecting increased ownership and improved results from Wilmar.

In WFSI, the WILD Flavors business delivered solid year-over-year growth, with results from the Eatem foods acquisition in North America and good sales in EMEAI and Asia Pacific more than offsetting weaker sales in Latin America. However, overall results declined in the quarter due to continued challenges in certain specialty ingredients businesses. The company began implementing the restructuring of the specialty commodities unit, and saw ongoing market softness in hydrocolloids and fibers, as well as the effects of a short crop in edible beans.