Archer Daniels Midland Reaches Deal to End Peanut Cartel Case

An Archer Daniels Midland Co. unit will pay to resolve antitrust litigation in a Virginia federal court over its alleged scheme to drive down the prices paid to peanut farmers, ending a case that previously led to settlements worth $58 million with two other top shelling companies.

The food processing giant and the farmers leading the lawsuit disclosed a deal in principle in a joint notice docketed Wednesday with the U.S. District Court for the Eastern District of Virginia, where the price-fixing case was moving forward as a class action against ADM-owned Golden Peanut Co.

“Consistent with the parties’ agreement ...