CHICAGO Dec 2 (Reuters) - November was not kind to Archer Daniels Midland Co. The Illinois-based grain trader suffered two blows in two weeks last month when Australia rejected its planned takeover of GrainCorp Ltd and the Obama administration proposed the first-ever cuts to requirements for use of U.S. biofuel produced by ADM. The GrainCorp decision, announced on Friday by Australia's treasurer, disappointed ADM executives who had pursued GrainCorp for 13 months as a central part of their strategy to expand. The deal would have increased opportunities for exports to fast-growing areas of Asia and the Middle East. Analysts said ADM...
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