Archer Daniels Midland (NYSE:ADM) Lacks Short-term Catalysts

Archer Daniels Midland (NYSE:ADM) should remain somewhat benign going forward, as there are few, if any, short-term catalysts to indicate an upward move of significance.

Jefferies (NYSE:JEF) said, "We expect ADM's system processing volume growth to decelerate over the next two quarters as the company laps record U.S. soybean processing volumes and HFCS exports to Mexico, and in calendar 2H11 as ADM laps the addition of two new ethanol plants in summer 2010."

Jefferies initiated coverage on Archer Daniels Midland, starting them off with a "Hold" rating. ADM was trading at $30.38, up $0.16, or 0.53 percent, as of 1:52 PM EST. Jefferies has a price target on them of $34.

EPS estimates for full year 2011 and full year 2012 are $2.87/$65.9 billion and $3.20/$67.4 billion.