'Tough quarter' for Cargill as profits fall 66 percent

Minnesota's privately held food giant blames the losses on uncertainties in the global economy and a volatile market for commodities.
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Minnesota's privately held food giant blames the losses on uncertainties in the global economy and a volatile market for commodities.

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Cargill profits drop 88 percent

The food giant's second-quarter profits are down 88 percent from a year ago even as sales increased 17 percent. The company's CEO pegged the disappointing results on its weak meat business and a poor sugar market, as well as political uncertainties.

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