ADM Reports Second Quarter 2012 Earnings of $80 Million or $0.12 per Share

Archer Daniels Midland Company (NYSE: ADM) today reported financial
results for the quarter ended Dec. 31, 2011. The company reported net
earnings for the quarter of $80 million, or $0.12 per share, both down
89 percent from the same period one year earlier. Adjusted earnings per
share¹?which excludes the impact of LIFO, PHA-related
impairment charges and other adjustments?was $0.51 per share, 58 percent
lower than the prior year quarter. Segment operating profit¹,
after excluding the impact of the PHA-related charges, was $648 million,
down 52 percent from the record quarter a year ago.

'It was a tough quarter,? said ADM Chairman and CEO Patricia Woertz.
'The operating environment was challenging. Ongoing weakness in global
oilseeds margins, lower results in corn and poor international
merchandising results hurt our second quarter profits.

'We remain optimistic about the long-term fundamentals of our business
and the growing earnings power of our company,? added Woertz. 'We
continue to execute our plan to drive shareholder value: prioritizing
capital projects, implementing productivity measures and returning
capital to shareholders through increased dividends and share buybacks.?

Second Quarter 2012 Highlights

• 
  Adjusted EPS of $0.51 excludes a LIFO charge of $0.06 and asset
  impairment costs of $0.33.
  
• 
  Oilseeds Processing profit declined $72 million amid continued
  weakness in the global margin environment.
  
• 
  Corn Processing results decreased $532 million, including $339 million
  in asset impairment charges related to the PHA renewable plastic
  production facility. Net corn costs for the quarter were high, partly
  due to economic hedging benefits recognized in the prior year.
  
• 
  Agricultural Services profit decreased $268 million on poor
  international merchandising results and lower U.S. export volumes.
  
• 
  Other businesses′ results decreased by $181 million, primarily due to
  a negative mark-to-market timing effect in cocoa processing.
  Mark-to-market losses this quarter were $127 million or approximately
  $0.13 per share.
  
• 
  ADM returned $304 million to shareholders in the quarter, including
  buying back 6.5 million shares and increasing our quarterly dividend
  to 17.5 cents per share from 16 cents.
  

Adjusted EPS of 51 Cents, down 69 Cents

Adjusted EPS declined primarily due to the decrease in segment operating
profit. This was partially offset by lower corporate expenses.

The effective tax rate for the quarter was 31 percent, bringing the
cumulative rate to 30 percent.

Weak Global Oilseeds Margin Environment Continues to Impact Earnings

Oilseeds operating profit in the second quarter was $253 million, down
$72 million from the same period one year earlier.

Crushing and origination operating profit fell $61 million to $139
million. Continued weakness in global oilseeds crushing margins,
particularly in Europe, reduced overall results. The prior year′s
quarter reflected a $71 million pretax gain related to the acquisition
of the controlling interest in Golden Peanut. In addition, last year′s
results included significant, negative mark-to-market timing effects
which were not repeated this year.

Refining, packaging, biodiesel and other generated a profit of $74
million for the quarter, essentially flat from year-ago levels.

Oilseeds results in Asia for the quarter were in line with last year,
principally reflecting ADM′s share of the results from its equity
investee Wilmar International Limited.

Additional highlights from the quarter include:

• 
  Integrating Elstar Oils S.A., the rapeseed crushing, refining,
  packaging and biodiesel business in Poland.
  
• 
  Increasing efficiency at the Olomouc, Czech Republic, sunflower seed
  crushing and refining facility.
  
• 
  Expanding ADM′s biodiesel presence with plans for a biodiesel plant at
  ADM′s Lloydminster, Canada, canola crushing facility.
  

Corn Processing Results Weaker, Reflecting PHA Impairment Charge

Corn processing reported an operating loss of $133 million, a decrease
of $532 million from the same period one year earlier. The loss reflects
$339 million in asset impairment charges related to the PHA renewable
plastic production facility at Clinton, Iowa. Excluding the PHA
impairment charges, corn processing operating profit of $206 million
represented a $193 million reduction. Overall net corn costs were up,
reflecting economic hedging benefits recognized in the prior year.

Sweeteners and starches operating profit decreased $46 million to $73
million. Export demand for sweeteners remained strong, though higher net
corn costs more than offset higher average selling prices and increased
sales volumes.

Bioproducts results in the quarter decreased $486 million to a loss of
$206 million, including the $339 million PHA impairment charges and the
absence of ownership gains from last year. Ethanol margins were good
into December, when they declined significantly as industry production
increased and exports declined.

Agricultural Services Down from ExceptionallyStrong Year-ago
Quarter

Agricultural Services operating profit was $158 million, down $268
million from the exceptionally strong period one year earlier.

Merchandising and handling earnings decreased on poor international
merchandising results and a reduction in U.S. grain exports from the
prior year′s record levels. Earnings from transportation operations were
steady.

Other Businesses Deliver Strong Results, Excluding Significant
Mark-to-Market Timing Effects

In the second quarter, profit from ADM′s Other businesses was $31
million, down $181 million from the same period one year earlier.
Excluding net timing effects, the results in other processing were
comparable to last year′s strong results.

In other processing, profits fell $150 million to $10 million. Results
in the segment were impacted by $127 million in mark-to-market net
timing losses in cocoa. Last year′s results reflected $23 million in net
timing gains. The underlying performance in cocoa remained strong,
driven by cocoa powder demand. Wheat milling results remained steady.

Other financial declined $31 million to $21 million on lower results of
ADM′s captive insurance subsidiary.

Current Landscape Assessment

Worldwide demand for crops and agricultural products continues to grow
at a stable rate. The South American harvest is beginning and is
expected to help maintain adequate global soybean supplies. With
adequate global crop supplies and a smaller U.S. crop last year, the
U.S. lost export volumes. Global protein meal demand continues to grow,
led by Asia, but crush margins, while improved, remain weak. U.S.
ethanol margins are weak, with excess production amid reduced exports.
U.S. corn sweetener capacity remains tight, driven by strong export
demand.

Conference Call Information

ADM will host a conference call and audio webcast at 8 a.m. Central Time
on Tuesday, Jan. 31, 2012, to discuss financial results and provide a
company update. A financial summary slide presentation will be available
to download approximately 60 minutes prior to the call. To listen to the
call via the Internet or to download the slide presentation, go to www.adm.com/webcast.
To listen by telephone, dial 888-522-5398 in the U.S. or 706-902-2121 if
calling from outside the U.S.; the access code is 40983238. Replay of
the call will be available from 9:00 a.m. Central Time on Jan. 31 to
Feb. 7, 2012. To listen to the replay by telephone, dial 855-859-2056 or
404-537-3406; the access code is 40983238. To listen to the replay
online, visit www.adm.com/webcast.

About ADM

For more than a century, the people of Archer Daniels Midland Company
(NYSE: ADM) have transformed crops into products that serve vital needs.
Today, 30,000 ADM employees around the globe convert oilseeds, corn,
wheat and cocoa into products for food, animal feed, industrial and
energy uses. With more than 265 processing plants, 400 crop procurement
facilities, and the world′s premier crop transportation network, ADM
helps connect the harvest to the home in more than 160 countries. For
more information about ADM and its products, visit www.adm.com.

¹ Non-GAAP financial measures, see pages 5 and 10 for
explanations and reconciliations

Total segment operating profit is ADM′s consolidated income from
operations before income tax that includes interest expense of each
segment relating to financing operating working capital. Management
believes that segment operating profit is a useful measure of ADM′s
performance because it provides investors information about ADM′s
business unit performance excluding certain corporate overhead and
impacts of its capital structure. Total segment operating profit is a
non-GAAP financial measure and is not intended to replace earnings
before income tax, the most directly comparable GAAP financial measure.
Total segment operating profit is not a measure of consolidated
operating results under U.S. GAAP and should not be considered as an
alternative to income before income taxes or any other measure of
consolidated operating results under U.S. GAAP.

Adjusted EPS is ADM′s fully diluted EPS after removal of the effect on
EPS of certain specified items as more fully described above. Management
believes that Adjusted EPS is a useful measure of ADM′s performance
because it provides investors information about ADM′s operations
allowing better evaluation of ongoing business performance. Adjusted EPS
is a non-GAAP financial measure and is not intended to replace or be an
alternative to EPS, the most directly comparable GAAP financial measure,
or any other measures of operating results under GAAP. Earnings amounts
in the tables above have been divided by the company′s diluted shares
outstanding for each respective quarter in order to arrive at an
adjusted EPS amount for each specified item.

Archer Daniels Midland Company

Media Relations Contact

David
Weintraub, 217-424-5413

or

Investor Relations Contact

Dwight
Grimestad, 217-424-4586