date:Mar 21, 2014
led $4.38 billion, down 1 percent from year-ago levels. Foreign exchange translation reduced net sales growth by 1 percentage point. Net price realization and mix contributed 1 point of net sales growth, while lower pound volume reduced sales growth by 1 point. Third-quarter gross margin was above year-ago levels including changes in mark-to-market valuation of certain commodities and grain inventories. Excluding mark-to-market effects, gross margin declined for the quarter (please see Note 9 be