Cargill earns $553 million in third quarter

The Associated Press reports that agribusiness powerhouse Cargill’s third-quarter earnings rose 49 percent on improving operations and tax savings. The privately held maker of food ingredients and other agricultural products said it earned $553 million during the quarter that ended Feb. 28, up from $370 million during the same period a year ago. Cargill''s risk management and financial arm have grown in recent years and now provide 40 percent of Cargill''s operating profits, according to a March 27 report by Moody''s Investors Service, up from 28 percent in 2002.