Cargill Earnings: Big Boost From Grain Handling, Processing

Cargill Inc.'s quarterly earnings soared on strength in grain handling and food ingredients, as the company overcame the lingering effects of a historic U.S. drought.

The privately held company on Wednesday reported a profit of $483 million for its fiscal fourth quarter ended May 31, up from $73 million a year earlier. The results capped a fiscal year in which earnings nearly doubled.