exhibit991.htm

“ADM’s 2008 results demonstrate the ability of our people to leverage our global assets against an exceptional set of opportunities” said Patricia Woertz, Chairman and CEO. “We had an outstanding year, highlighted by record segment operating profit. ADM met the needs of food, feed, fuel and industrial customers even as strong demand for crops and commodities challenged the global supply chain.”

	THREE MONTHS ENDED						TWELVE MONTHS ENDED
	6/30/08		6/30/07		% CHANGE		6/30/08		6/30/07		% CHANGE
Net sales and other operating income	$	21,784	$	12,214		78%	$	69,816	$	44,018		59%
Segment operating profit	$	777	$	1,152		(33)%	$	3,441	$	3,161		9%
Net earnings	$	372	$	955		(61)%	$	1,802	$	2,162		(17)%
Earnings per share	$	.58	$	1.47		(61)%	$	2.79	$	3.30		(15)%
Average number of shares outstanding		647		648		–		646		656		(2)%

Oilseeds Processing operating profit decreased as fourth quarter 2007 results included a $ 440 million gain related to the exchange of the Company’s interests in certain Chinese joint ventures for shares in Wilmar International Ltd. Global demand for vegetable oil and protein meal continued to be strong.

Net sales and other operating income increased 78 % to $ 21.8 billion for the quarter and 59 % to $ 69.8 billion for the twelve months. For both the quarter and year, higher selling prices resulting primarily from sharp rises in underlying commodity costs accounted for approximately 90 % of the increase while higher sales volumes, principally ethanol and merchandised oilseeds and grains, accounted for the remaining 10 % increase.

	Three months ended									Twelve months ended
	June 30									June 30
	2008			2007			Change			2008			2007			Change
	(in millions)

Oilseeds Processing	$	375		$	592		$	(217	)	$	1,040		$	1,139		$	(99	)
Corn Processing		262			229			33			961			1,105			(144	)
Agricultural Services		106			246			(140	)		1,017			538			479
Other		34			85			(51	)		423			379			44
Segment operating profit		777			1,152			(375	)		3,441			3,161			280
Corporate		(238	)		242			(480	)		(817	)		(7	)		(810	)
Earnings before income taxes		539			1,394			(855	)		2,624			3,154			(530	)
Income taxes		(167	)		(439	)		272			(822	)		(992	)		170
Net earnings	$	372		$	955		$	(583	)	$	1,802		$	2,162		$	(360	)

Net earnings decreased $ 583 million for the quarter and $ 360 million for the twelve months due principally to the impact on Earnings before income taxes of $ 967 million and $ 1.042 billion of gains related to asset disposals recognized in the fourth quarter and twelve months of 2007, respectively. In addition, Corporate results decreased due to charges related to LIFO inventory valuations which increased from $ 60 million to $ 198 million for the quarter and from $ 207 million to $ 569 million for the year. Income taxes decreased $ 272 million for the quarter and $ 170 million for the twelve months due principally to decreased income before tax.

	Three months ended							Twelve months ended
	June 30							June 30
	2008		2007		Change			2008		2007		Change
	(in millions)

Crushing and origination	$	276	$	80	$	196		$	727	$	414	$	313
Refining, packaging, biodiesel and other		34		45		(11	)		181		202		(21	)
Asia		65		467		(402	)		132		523		(391	)
Total Oilseeds Processing	$	375	$	592	$	(217	)	$	1,040	$	1,139	$	(99	)

Oilseeds Processing operating profit decreased $ 217 million for the quarter and $ 99 million for the twelve months due principally to the $ 440 million gain in last year’s quarter related to the exchange of the Company’s interests in certain Chinese joint ventures for shares in Wilmar International Ltd., partially offset by improved global processing margins. Crushing and origination results increased $ 196 million for the quarter and $ 313 million for the twelve months due to increased operating margins from continuing strong global demand for protein meal and vegetable oil and to higher volumes and margins related to origination and fertilizer operations. Refining, packaging, biodiesel and other results decreased $ 11 million for the quarter and $ 21 million for the twelve months due principally to asset impairment charges of $ 9 million for the quarter and $ 27 million for the year. Last year’s twelve months refining, packaging, biodiesel and other results include a $ 14 million gain from business disposals.

Corn Processing operating profit increased $ 33 million for the quarter and decreased $ 144 million for the twelve months. Average selling prices for sweeteners and starches increased for both the quarter and twelve months while average ethanol selling prices decreased slightly. Ethanol sales volumes increased for both the quarter and the twelve months due to good demand and improved gasoline blending economics. Ethanol sales volumes also increased due to additional sales of merchandised product. Net corn costs were relatively unchanged for the quarter but were higher for the year. Manufacturing costs increased for both the quarter and twelve months due principally to higher energy-related costs.

Agricultural Services results decreased $ 140 million for the quarter due primarily to last year’s $ 153 million gain resulting from the sale of the Company’s interest in Agricore United. Agricultural Services results increased $ 479 million for the twelve months due principally to enhanced merchandising and handling margins caused by the highly volatile grain markets and favorable risk management results partially offset by higher operating costs and last year’s $ 153 million gain from the Agricore United disposal.

Other operating profit decreased $ 51 million for the quarter and increased $ 44 million for the twelve months. Wheat, cocoa and malt operations declined $ 21 million for the quarter and increased $ 8 million for the twelve months due principally to lower equity earnings of affiliates and decreased cocoa processing margins, partially offset by improved malt operating margins. Last year’s twelve month results include a $ 39 million gain from business disposals. Financial earnings declined $ 30 million for the quarter due primarily to lower valuations of the Company’s managed fund investments. Financial earnings increased $ 36 million for the twelve months due principally to higher brokerage services income.

	Three months ended									Twelve months ended
	June 30									June 30
	2008			2007			Change			2008			2007			Change
	(in millions)

LIFO (charge)	$	(198	)	$	(60	)	$	(138	)	$	(569	)	$	(207	)	$	(362	)
Investment (expense) income		(3	)		26			(29	)		85			78			7
Charge on debt repurchase		–			(46	)		46			–			(46	)		46
Gain on security transactions		–			363			(363	)		3			374			(371	)
Corporate costs		(54	)		(41	)		(13	)		(262	)		(211	)		(51	)
Other		17			–			17			(74	)		5			(79	)
Total Corporate	$	(238	)	$	242		$	(480	)	$	(817	)	$	(7	)	$	(810	)

Corporate results decreased $ 480 million for the quarter and $ 810 million for the year due principally to increases in LIFO charges of $ 138 million for the quarter and $ 362 million for the year and to securities gains recorded in the prior year of $ 363 million and $ 374 million for the fourth quarter and year respectively. Corporate costs increased $ 13 million for the quarter and $ 51 million for the year due principally to increased reorganization and realignment costs. Other principally represents the elimination of after-tax earnings of minority interests.

Archer Daniels Midland Company will host a conference call and audio Web cast at 8:00 a.m. Central Time on Tuesday, August 5, 2008 to discuss financial results and provide a Company update. In addition, a financial summary slide presentation will be available to download approximately 60 minutes prior to the start of the call. To listen to the call via the Internet or to download the slide presentation, go to www.admworld.com/webcast. To listen by telephone, dial 800-591-6930 or 617-614-4908; the access code is 64043411. Replay of the call will be available beginning August 5, 2008, at 10:00 a.m. Central Time and ending August 12, 2008. To listen to the replay by telephone, dial 888-286-8010 or 617-801-6888; the access code is 50224032. To listen to the replay online, visit www.admworld.com/webcast.

Every day, the 27,000 people of Archer Daniels Midland Company 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, 2008, were $70 billion. For more information about our Company and our products, visit www.admworld.com.

	Three months ended						Twelve months ended
	June 30						June 30
	2008			2007			2008			2007
	(in millions, except per share amounts)

Net sales and other operating income	$	21,784		$	12,214		$	69,816		$	44,018
Cost of products sold		20,977			11,496			65,974			40,781
Gross profit		807			718			3,842			3,237

Selling, general and administrative expenses		347			293			1,419			1,195
Other (income) expense – net*		(79	)		(969	)		(201	)		(1,112	)
Earnings before income taxes		539			1,394			2,624			3,154

Income taxes		167			439			822			992
Net earnings	$	372		$	955		$	1,802		$	2,162

Diluted earnings per common share	$	.58		$	1.47		$	2.79		$	3.30

Average number of shares outstanding		647			648			646			656




*Other (income) expense - net
Interest expense	$	139		$	111		$	477		$	434
Investment income		(66	)		(65	)		(269	)		(257	)
Charge on debt repurchase		–			46			–			46
Net gain on marketable securities		(1	)		(369	)		(38	)		(393	)
(Gain) loss on sales and exchanges of businesses		–			(598	)		(17	)		(649	)
Equity in earnings of unconsolidated affiliates		(128	)		(86	)		(415	)		(294	)
Other – net		(23	)		(8	)		61			1
	$	(79	)	$	(969	)	$	(201	)	$	(1,112	)

		Three months ended				Twelve months ended
		June 30				June 30
		2008		2007		2008		2007
	(in millions)
Net sales and other operating income
Oilseeds Processing		$	7,692	$	4,112	$	23,279	$	13,943
Corn Processing			2,125		1,572		7,137		5,825
Agricultural Services			10,417		5,545		33,968		20,419
Other			1,550		985		5,432		3,831
Total net sales and other operating income		$	21,784	$	12,214	$	69,816	$	44,018

		Three months ended				Twelve months ended
		June 30				June 30
		2008		2007		2008		2007
	(in millions)
Segment operating profit
Oilseeds Processing (1) (2)		$	375	$	592	$	1,040	$	1,139
Corn Processing (1)			262		229		961		1,105
Agricultural Services (2)			106		246		1,017		538
Other (1) (2)			34		85		423		379
Total segment operating profit		$	777	$	1,152	$	3,441	$	3,161

	Three months ended				Twelve months ended
	June 30				June 30
	2008		2007		2008		2007
	(in 000s metric tons)
Processing volumes
Oilseeds Processing		7,248		7,135		29,531		28,439
Corn Processing		4,394		4,495		17,666		18,043
Wheat, cocoa and malt		2,043		1,999		8,283		8,132
Total processing volumes		13,685		13,629		55,480		54,614

(1)

Includes asset impairment charges in Oilseeds of $10 million for the quarter ended June 30, 2008 and $5 million for the quarter ended June 30, 2007. Includes asset impairment charges in Corn of $14 million for the quarter ended June 30, 2007. Includes asset impairment charges in Oilseeds of $28 million for the year ended June 30, 2008 and $6 million for the year ended June 30, 2007. Includes asset impairment charges in Corn of $2 million for the year ended June 30, 2008 and $15 million for the year ended June 30, 2007. Includes asset impairment charges in Other of $2 million for the year ended June 30, 2008.

(2)

Includes a $440 million gain on asset and business disposals in Oilseeds for the quarter and $ 454 million for the year ended June 30, 2007. Includes a $158 million gain on asset and business disposals in Agricultural Services for the quarter and year ended June 30, 2007. Includes a $5 million gain on asset and business disposals in Other for the quarter ended June 30, 2008 and $6 million gain for the quarter ended June 30, 2007. Includes a $5 million gain on asset and business disposals in Other for the year ended June 30, 2008 and $ 60 million gain for the year ended June 30, 2007.

	June 30 2008			June 30 2007
	(in millions)
NET INVESTMENT IN
Working capital	$	14,189		$	7,787
Property, plant, and equipment		7,125			6,010
Investments in and advances to affiliates		2,773			2,498
Long-term marketable securities		590			657
Other non-current assets		1,113			831
	$	25,790		$	17,783

FINANCED BY
Short-term debt	$	3,123		$	468
Long-term debt, including current maturities		7,922			4,817
Deferred liabilities		1,255			1,245
Shareholders' equity		13,490			11,253
	$	25,790		$	17,783



SUMMARY OF CASH FLOWS
(unaudited)
	June 30
	2008			2007
	(in millions)
Operating Activities
Net earnings	$	1,802		$	2,162
Depreciation and asset abandonments		753			722
Other – net		(151	)		(939	)
Changes in operating assets and liabilities		(5,608	)		(1,642	)
Total Operating Activities		(3,204	)		303
Investing Activities
Purchases of property, plant and equipment		(1,779	)		(1,198	)
Net assets of businesses acquired		(13	)		(103	)
Other investing activities		(103	)		946
Total Investing Activities		(1,895	)		(355	)
Financing Activities
Long-term debt borrowings		3,095			1,166
Long-term debt payments		(69	)		(549	)
Net borrowings under lines of credit		2,574			(110	)
Purchases of treasury stock		(61	)		(533	)
Purchase of convertible note hedge		–			(299	)
Sale of stock warrants		–			170
Cash dividends		(316	)		(281	)
Other		23			38
Total Financing Activities		5,246			(398	)
Increase (decrease) in cash and cash equivalents		147			(450	)
Cash and cash equivalents - beginning of period		663			1,113
Cash and cash equivalents - end of period	$	810		$	663

Contacts:
David Weintraub	Dwight Grimestad
Director, External Communications	Vice President, Investor Relations
217/424-5413	217/424-4586

		Archer Daniels Midland Company 4666 Faries Parkway Decatur, Illinois 62526
	News Release