ADM Reports First-Quarter Earnings of $ 345 Million

Archer Daniels Midland Company (NYSE: ADM) today reported net earnings
of $ 345 million and segment operating profit of $ 765 million for the
quarter ended September 30, 2010, down $ 151 million and $ 9 million,
respectively, from the same period one year earlier.

• 
  ADM earned $ 0.54 diluted EPS for the first quarter, versus last
  year′s $ 0.77 first quarter.
  
• 
  Profit in ADM′s Oilseeds Processing segment increased $ 24 million on
  strong results across the value chain.
  
• 
  Corn Processing profit increased $ 153 million as ethanol margins and
  volumes improved.
  
• 
  In the Agricultural Services segment, profit fell $ 43 million driven
  by shifts in crop supplies early in the quarter.
  
• 
  Other business units posted a loss, reflecting increased captive
  insurance loss provisions.
  

'The ADM team performed solidly in both corn and oilseeds with both
businesses well positioned to meet demand. Agricultural Services results
were impacted by crop supply shifts early in the quarter,? said Chairman
of the Board and Chief Executive Officer Patricia Woertz. 'As we look at
markets today, global demand is generally strong. This presents ADM with
the opportunity to grow shareholder value by doing what we do best: use
our assets and our acumen to connect crops from regions where they′re
available to markets where they′re needed.?

Financial Highlights

A summary of segment operating profit and net earnings follows:

Discussion of Operations

Net earnings for the first quarter decreased $ 151 million due primarily
to a $ 9 million pretax decrease in segment operating profit and a $ 124
million after-tax negative variance from changing LIFO inventory
valuations. The company′s effective income tax rate for the quarter was
26 percent, compared to 31 percent for the prior first quarter, mostly
due to changes in the geographic mix of earnings.

Oilseeds Processing Operating Profit

Oilseeds operating profit increased $ 24 million for the quarter, to a
profit of $ 308 million.

Crushing and origination results increased $ 41 million to $ 176 million
for the quarter. Crushing volumes increased more than 6 percent over the
year-ago quarter, though volumes decreased sequentially. Margins
improved overall. North American margins benefitted from good
raw-material positioning; South America gained from better origination
margins and strong fertilizer results in advance of the planting season;
and Europe saw strong softseed margins.

Refining, packaging, biodiesel and other results increased $ 6 million
to $ 76 million for the quarter. South American biodiesel continued to
improve, driving good margins and volumes in that business.

Oilseeds results in Asia were $ 56 million for the quarter, principally
reflecting ADM′s share of the results of its equity investee, Wilmar
International Limited.

Corn Processing Operating Profit

For the quarter, corn processing results increased $ 153 million to a
profit of $ 341 million. Corn processing volumes were up, reflecting the
capacity of the company′s new dry mills.

Sweeteners and starches operating profit decreased $ 48 million from the
prior year to $ 146 million. This decrease reflects lower average
selling prices that were only partially offset by lower net corn costs.
Sales volumes were up due to strong export shipments and improved
domestic demand for industrial starches.

Bioproducts profit in the quarter was up significantly from last year′s
loss on improved ethanol and lysine margins, a favorable corn ownership
position and increased ethanol sales volumes. In the quarter,
bioproducts recorded $ 32 million in costs related to the start up of
new plants.

Agricultural Services Operating Profit

Agricultural Services results were $ 132 million, $ 43 million below the
year-ago quarter.

Merchandising and Handling profit decreased over last year, due
primarily to negative impacts from supply shifts early in the quarter as
a result of drought conditions and government actions in the Black Sea
region. These negative impacts were only partially offset by a $ 67
million insurance settlement related to ADM′s Destrehan, La., export
elevator and by increased volumes driven by the early U.S. harvest.
Earnings from transportation operations improved on higher barge-freight
rates and volumes which were also driven by the early U.S. harvest.

Other Operating Profit

In the first quarter, ADM′s Other business units showed a loss of $ 16
million, compared to the year-ago profit of $ 127 million.

Other processing results decreased $ 81 million, with improved results
in wheat milling more than offset by lower results in ADM′s cocoa
operations and lower results from equity investee, Gruma S.A.B. de C.V.
Other processing earnings for the quarter included mark-to-market losses
of $ 59 million?compared to gains of $ 17 million in last year′s first
quarter?related to certain forward purchase and sales commitments
accounted for as derivatives.

Other financial results fell $ 62 million, primarily due to higher
captive insurance loss provisions, principally related to ADM′s
Destrehan, La., settlement. The company is in the process of working
with its reinsurers and expects to recover a significant part of these
losses over the next 12 months.

Corporate Results

Corporate results decreased $ 246 million for the quarter. Rising
commodity prices generated a $ 123 million increase in ADM′s LIFO
inventory valuation reserves this quarter, compared to a $ 76 million
decrease a year ago. Corporate unallocated interest expense increased $
55 million, including $ 31 million of unrealized losses on interest rate
swaps and the impact of lower capitalized interest on construction
projects.

Conference Call Information

ADM will host a conference call and audio webcast at 8 a.m. Central Time
on Tuesday, Nov. 2, 2010, 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 online or to download the slide presentation, go to www.adm.com/webcast.
To listen by telephone, dial 866-770-7120 or 617-213-8065; the access
code is 76278625. Replay of the call will be available from 11 a.m.
Central Time on Nov. 2 to Nov. 9, 2010. To listen to the replay by
telephone, dial 888-286-8010 or 617-801-6888; the access code is
37728490. To listen to the replay online, visit www.adm.com/webcast.

About ADM

Every day, the 29,000 people of Archer Daniels Midland Company (NYSE:
ADM) turn crops into renewable products that meet the demands of a
growing world. At more than 240 processing plants, we convert corn,
oilseeds, wheat and cocoa into products for food, animal feed, chemical
and energy uses. We operate the world′s premier crop origination and
transportation network, connecting crops and markets in more than 60
countries. Our global headquarters is in Decatur, Illinois, and our net
sales for the fiscal year ended June 30, 2010, were $62 billion. For
more information about our company and our products, visit www.adm.com.

Archer Daniels Midland Company

Media:

David Weintraub,
217-424-5413

Director, External Communications

or

Investors:

Dwight
Grimestad, 217-424-4586

Vice President, Investor Relations