8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)   January 24, 2003

Archer-Daniels-Midland Company

(Exact name of registrant as specified in its charter)

Delaware	1-44	41-0129150
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

4666 Faries Parkway Decatur, Illinois	62526
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code   (217) 424-5200

Item 7. Financial Statements and Exhibits.

99.1 Press release dated January 24, 2003 announcing second quarter results.

Item 9. Regulation FD Disclosure.

On January 24, 2003, Archer-Daniels-Midland Company (ADM) issued a press release announcing second quarter results. A copy of such press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ARCHER-DANIELS-MIDLAND COMPANY

Date: January 24, 2003 By /s/ David J. Smith

David J. Smith

Senior Vice President, Secretary and

General Counsel

EX-99

3:

January 24, 2003 FOR IMMEDIATE RELEASE

ARCHER DANIELS MIDLAND REPORTS SECOND QUARTER RESULTS

Decatur, IL -- January 24, 2003 -- Archer Daniels Midland (NYSE: ADM)

Second quarter earnings per share were $ .20 compared to $ .23 last year as Operating Profit decreased to $297 million from $341 million.

* Oilseeds Processing results were negatively impacted by lower

North American Crush margins.

* Corn Processing results increased due to improved ethanol demand.

* Wheat Processing results decreased due to adverse crop conditions.

* Agricultural Services results were negatively affected by

difficult market conditions.

* Other results improved, driven primarily by bioproducts, cocoa

and other international businesses.

Second Quarter Highlights.

(Amounts in thousands, except per share data and percentages)

SECOND QUARTER ENDED
12/31/02	12/31/01	% CHANGE

Net sales and other operating income	$ 7,807,382	$ 5,463,996	43%
Operating profit	$ 297,369	$ 341,314	-13%
Net earnings	$ 131,245	$ 150,025	-13%
Earnings per share	$ 0.20	$ 0.23	-13%
Average number of shares outstanding	646,178	660,285	-2%

SIX MONTHS ENDED
12/31/02	12/31/01	% CHANGE

Net sales and other operating income	$ 14,751,277	$ 10,667,679	38%
Operating profit	$ 537,315	$ 562,545	-4%
Net earnings	$ 239,320	$ 281,643	-15%
Earnings per share	$ 0.37	$ 0.43	-14%
Average number of shares outstanding	647,123	661,446	-2%

Improved profits in international oilseeds processing did not fully offset

lower North American results. Poor crops in North America negatively

impacted grain storage and transportation revenues. Corn processing,

cocoa and bioproducts contributed strong results for the quarter. Our

growing global franchise continues to produce value for our shareholders.

G. Allen Andreas, Chairman and Chief Executive

Archer Daniels Midland

Page 2

Net earnings for the quarter ended December 31, 2002 were $ 131,245,000 or

$ .20 per share compared with $ 150,025,000 or $ .23 per share last year.

This year's results include a $ .02 per share gain from partial settlement

of the Company's claims related to vitamin antitrust litigation. Last year's

results included a $ .04 per share gain related to the vitamin antitrust litigation

settlements and a $ .02 per share loss related to security transactions. For

fiscal year 2003, six months net earnings were $ 239,320,000 or $ .37 per share

compared to $ 281,643,000 or $ .43 per share last year. Current year's six month

results include a gain of $ .02 per share from the vitamin antitrust litigation

settlements. Last year's six month results included a gain related to the vitamin

antitrust litigation settlements of $ .04 per share and a gain of $ .03 per share

from security transactions.

Segment operating profit decreased to $ 297,369,000 from $ 341,314,000 for

the quarter and to $ 537,315,000 from $ 562,545,000 for the six months.

The decline in operating profits for the quarter and six months resulted

primarily from lower North American oilseed crush margins and lower

operating results in the Agricultural Services and Wheat Processing segments

due to difficult operating conditions resulting from drought induced short crops.

These declines were partially offset by improved profits in international oilseed

processing, increased corn processing results due to improved ethanol demand and stronger results in cocoa and bioproducts operations.

Conference Call Information

The Company will hold a conference call to discuss second quarter results

at 10:00 a.m. Central Time on January 24, 2003.

To participate in the live conference call on listen-only mode, please dial

800-513-1181 or 952-556-2826 at least five minutes before the call begins.

To listen to a live broadcast via the Internet, please access

the CCBN Web site at http://www.ccbn.com or the ADM Web site at http://www.admworld.com.

A replay will be available on these web sites for approximately 20 days.

Archer Daniels Midland Company (ADM) is a world leader in agricultural

processing. The Company is one of the world's largest processors of soybeans,

corn, wheat and cocoa. ADM is also a leader in soy meal and oil, ethanol,

high fructose corn syrup (HFCS) and flour. In addition, ADM is building a

position in such value-added products as specialty food ingredients, bioproducts

and nutraceuticals (such as Vitamin E and sterols). Headquartered in Decatur,

Illinois, ADM has over 24,000 employees, 260 processing plants and net sales for

the fiscal year ended June 30, 2002 of $22.6 billion.

Additional information can be found on ADM's Web site at http://www.admworld.com.

###

Contacts: Larry Cunningham Senior Vice President Corporate Affairs 217/424-5413 Dwight Grimestad Vice President, Investor Relations 217/424-4586

(Financial Table Follows)

January 24, 2003

ARCHER DANIELS MIDLAND COMPANY

CONSOLIDATED STATEMENTS OF EARNINGS

(unaudited)

Three months ended		Six months ended
December 31		December 31
2002	2001	2002	2001
(In thousands, except per share amounts)

Net sales and other operating income	$ 7,807,382	$ 5,463,996	$ 14,751,277	$ 10,667,679
Cost of products sold	7,316,495	4,956,708	13,840,407	9,754,894
	____________	____________	____________	____________
Gross Profit	490,887	507,288	910,870	912,785
Selling, general and administrative expenses	246,197	209,746	462,342	394,009
Other expense (income)- net	55,848	71,941	104,182	95,253
	____________	____________	____________	____________
Earnings before income taxes	188,842	225,601	344,346	423,523
Income Taxes	57,597	75,576	105,026	141,880
	____________	____________	____________	____________
Net Earnings	$ 131,245	$ 150,025	$ 239,320	$ 281,643
	===========	===========	===========	===========
Basic and diluted earnings per common share	$ 0.20	$ 0.23	$ 0.37	$ 0.43
	===========	===========	===========	===========
Average number of shares outstanding	646,178	660,285	647,123	661,446
	===========	===========	===========	===========
Other expense (income) - net consists of:
Interest expense	$ 95,293	$ 92,465	$ 179,813	$ 184,719
Investment Income	(29,078)	(26,636)	(62,768)	(59,920)
Net (gain) loss on securities transactions	2,704	19,983	2,678	(35,553)
Equity in (earnings) losses of affiliates	(9,278)	(8,973)	(10,582)	10,866
Other - net	(3,793)	(4,898)	(4,959)	(4,859)
	____________	____________	____________	____________
	$ 55,848	$ 71,941	$ 104,182	$ 95,253
	===========	===========	===========	===========
Operating profit by segment is as follows:
Oilseeds Processing	$ 102,724	$ 132,786	$ 179,098	$ 218,060
Corn Processing	71,317	46,619	155,256	133,059
Wheat Processing	18,821	31,352	38,706	51,916
Agricultural Services	34,959	74,027	75,072	89,944
Other	69,548	56,530	89,183	69,566
	____________	____________	____________	____________
Total Operating Profit	$ 297,369	$ 341,314	$ 537,315	$ 562,545
Corporate (includes securities transactions)	(108,527)	(115,573)	(192,969)	(139,022)
	____________	____________	____________	____________
Total Operating Profit	$ 188,842	$ 225,601	$ 344,346	$ 423,523
	===========	===========	===========	===========