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ADM shuts cash sugar trading operation in London - sources

Reuters

LONDON (Reuters) - U.S. agribusiness Archer Daniels Midland Co (ADM.N) has shut its small physical sugar trading operation in London due to tight margins, trade sources said.

The company began to wind down the business, which consisted of a trading team of five to six people, more than a year ago with the departure of head trader Alberto Peixoto in May 2015.

The rest of the physical sugar trading team had all left by May this year, one senior source familiar with the move, said.

The company did not immediately respond to requests for comment.

(Reporting by David Brough; Editing by Greg Mahlich)