Archer-Daniels Midland purchases, processes and sells agricultural products. The firm purchases crops from farmers and then transports, stores and/or processes the crops before selling them to food, feed and energy buyers. The commodity products that ADM distributes around the world are readily available from competitors, and the company has little pricing power over the products it buys and sells, causing margins to be low. Additionally, the capital intensity of its operations makes it difficult, but not impossible, for ADM to generate economic profits.