Archer Daniels Midland Company 4666 Faries Parkway Decatur, IL  62526      

	News Release
August 2, 2011	FOR IMMEDIATE RELEASE

ADM REPORTS FOURTH-QUARTER EARNINGS OF $ 381 MILLION

Company earned $ 3.13 per share for the fiscal year on record operating profit

Archer Daniels Midland Company (NYSE: ADM) today reported net earnings for the fiscal year ended June 30, 2011, of $ 2.0 billion and record segment operating profit of $ 4.0 billion, up 5 percent and 24 percent, respectively, from the prior year.

For the quarter ended June 30, 2011, net earnings were $ 381 million, down $ 65 million, and segment operating profit was $ 888 million, up $ 89 million, from the same period one year earlier.

·   ADM earned $ 0.58 diluted EPS for the fourth quarter, versus last year’s $ 0.69 fourth quarter.

·   Fourth-quarter segment operating profit improved 11 percent from the same period last year, to $ 888 million.

·   Oilseeds Processing profit increased $ 20 million on strong performance in North American crushing operations, despite a weak global margin environment.

·   Corn Processing profit decreased $ 22 million on significantly higher net corn costs.

·   Agricultural Services profit increased $ 15 million due to strong U.S. merchandising results.

·   Net income was negatively impacted by tax expense related to specific items and geographic mix of earnings.

“Despite a challenging environment in several key markets, ADM delivered solid operating results across all our businesses for the quarter. We earned record operating profit for the fiscal year with our growing global asset base, diversified product portfolio and the acumen of the ADM team,” said Patricia Woertz, ADM chairman and CEO. “Looking ahead, we are confident in our people, our assets and our financial strength to deliver profitable growth and value for our shareholders as we serve the vital needs of a growing world.”

Financial Highlights

(Amounts in millions, except per share data)

	Quarter Ended									Year Ended
	June 30									June 30
	2011			2010			Change			2011			2010			Change
Segment operating profit		$	888		$	799	$	89			$	4,021		$	3,239	$	782
Net earnings		$	381		$	446	$	(65	)		$	2,036		$	1,930	$	106
Diluted earnings per share		$	0.58		$	0.69	$	(0.11	)		$	3.13		$	3.00	$	0.13
Average shares outstanding			652			643						654			644

A summary of segment operating profit and net earnings follows:

	Quarter ended									Year ended
	June 30									June 30
	2011			2010			Change			2011			2010			Change
	(in millions)
Oilseeds Processing	$	379		$	359		$	20		$	1,524		$	1,400		$	124
Corn Processing		118			140			(22	)		1,062			722			340
Agricultural Services		193			178			15			922			668			254
Other		198			122			76			513			449			64
Segment operating profit		888			799			89			4,021			3,239			782
Corporate		(124	)		(249	)		125			(1,006	)		(654	)		(352	)
Earnings before income taxes		764			550			214			3,015			2,585			430
Income taxes		(385	)		(105	)		(280	)		(997	)		(666	)		(331	)
Net earnings including   noncontrolling interests		379			445			(66	)		2,018			1,919			99
Less: Net earnings (losses)   attributable to noncontrolling   interests		(2	)		(1	)		(1	)		(18	)		(11	)		(7	)
Net earnings	$	381		$	446		$	(65	)	$	2,036		$	1,930		$	106

Discussion of Net Earnings

Net earnings for the fourth quarter of $ 381 million decreased $ 65 million due principally to higher income tax expense of $ 280 million. This was partially offset by higher segment operating profit of $ 89 million and credits in LIFO inventory valuations, included in corporate, caused by lower agricultural commodity prices at the end of the fourth quarter compared to the beginning of the quarter. Earnings before income taxes include a LIFO credit of $ 52 million or $ 0.05 per share this quarter, compared to a LIFO charge of $ 23 million or $ 0.02 per share last year.

The company’s effective income tax rate for the fourth quarter was 50 percent, compared to the prior year’s quarter rate of 19 percent. ADM recorded additional tax expenses in the fourth quarter to bring the effective tax rate for the full year to 33 percent compared to the prior year’s rate of 26 percent. The effective tax rate for the fiscal year was atypical and was primarily the result of several unfavorable specific tax items and changes in the geographic mix of earnings.

For fiscal year 2012, based on current estimates, ADM expects its effective tax rate to be in the range of 28-30 percent.

Archer Daniels Midland Company – Page 3

Oilseeds Processing

Oilseeds operating profit in the fourth quarter increased $ 20 million to $ 379 million.

Crushing and origination operating profit increased $ 14 million to $ 232 million for the quarter. North American results improved across the oilseed portfolio, particularly in softseeds, despite a weak margin environment. European and South American results were lower and were partially offset by positive mark-to-market timing effects.

Refining, packaging, biodiesel and other generated a profit of $ 86 million for the quarter, up   $ 7 million from last year, as improved results from North America offset lower results from Europe and South America.

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

Corn Processing

For the quarter, corn processing operating profit was $ 118 million, a decline of $ 22 million from the same quarter last year. While processed volumes were up 15 percent, net corn costs increased significantly from the fourth quarter of last year.

Sweeteners and starches operating profit of $ 9 million was down $ 110 million, as higher average selling prices and sales volumes were more than offset by higher net corn costs. Export demand for sweeteners remained strong.

Bioproducts profit in the quarter rose $ 88 million to $ 109 million, driven by higher ethanol prices, favorable ownership positions and strong demand for value-added food and feed ingredients, particularly lysine and other amino acids.

Agricultural Services

Agricultural Services operating profit of $ 193 million increased $ 15 million from last year’s results.

Merchandising and handling earnings increased primarily due to stronger results from North American interior elevators and export operations, partially offset by weaker international results. Earnings from transportation operations were essentially flat compared to the fourth quarter of last year.

Archer Daniels Midland Company – Page 4

Other

In the fourth quarter, profits from ADM’s Other business units increased $ 76 million to $ 198 million.

In other processing, which includes wheat milling, cocoa and ADM’s share of Gruma, S.A.B. de C.V., profits were $ 192 million, an increase of $ 64 million from the year-ago quarter. ADM’s portion of Gruma’s results included a $ 78 million gain on the disposal of assets.

Other financial increased $ 12 million mainly due to improved results of ADM’s captive insurance subsidiary and ADM Investor Services.

Corporate

Corporate results improved $ 125 million. Lower commodity prices through the fourth quarter led to $ 52 million of LIFO credits on a decrease in ADM’s LIFO inventory valuation reserves this quarter. This is compared to a LIFO charge of $ 23 million a year ago. Last year’s fourth quarter also included $ 59 million of unrealized losses on interest rate swaps.

Current Market Conditions

U.S. corn and soybean supplies are tight. Overall global crop supplies remain adequate following a good world wheat harvest and a record soybean harvest in South America. ADM is monitoring crop progress and harvests in Europe, North America and China.

Global demand for crops and agricultural products remains strong. Global protein meal and vegetable oil demand continues to grow, while industry margins remain under pressure. Export demand continues to drive strong U.S. corn sweetener volumes. With positive blending economics, ethanol consumption in the U.S. remains at maximum blendable levels.

Archer Daniels Midland Company – Page 5 

Conference Call Information

ADM will host a conference call and audio webcast at 8 a.m. Central Time on Tuesday, August 2, 2011, 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 866-788-0538 in the U.S. or 857-350-1676 if calling from outside the U.S.; the access code is 78084113. Replay of the call will be available from 11 a.m. Central Time on August 2 to August 9, 2011. To listen to the replay by telephone, dial 888-286-8010 or 617-801-6888; the access code is 24939972. To listen to the replay online, visit www.adm.com/webcast.

About ADM

Every day, the 30,000 people of Archer Daniels Midland Company (NYSE: ADM) turn crops into renewable products that meet the demands of a growing world. At more than 265 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 75 countries. Our global headquarters is in Decatur, Illinois, and our net sales for the fiscal year ended June 30, 2011, were $81 billion. For more information about our company and our products, visit www.adm.com.

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

(Financial Tables Follow)

Archer Daniels Midland Company – Page 6

Segment Operating Analysis

(unaudited)

	Quarter ended				Year ended
	June 30				June 30
	2011		2010		2011		2010
	(in ‘000s metric tons)
Processed volumes
Oilseeds Processing		7,038		7,184		29,630		29,095
Corn Processing		6,039		5,240		23,412		19,618
Wheat and cocoa		1,725		1,743		7,179		7,291
Total processing volumes		14,802		14,167		60,221		56,004
	Quarter ended				Year ended
	June 30				June 30
		2011		2010		2011		2010
		(in millions)
Net sales and other operating income
Oilseeds Processing	$	8,567	$	5,488	$	26,662	$	21,810
Corn Processing		2,841		1,969		9,908		7,874
Agricultural Services		9,960		7,006		37,927		26,756
Other		1,502		1,240		6,179		5,242
Total net sales and other operating    income	$	22,870	$	15,703	$	80,676	$	61,682

Archer Daniels Midland Company – Page 7

Segment Operating Profit and Corporate Results

(unaudited)

	Quarter ended							Year ended
	June 30							June 30
	2011		2010		Change			2011		2010		Change
	(in millions)
Oilseeds Processing Operating Profit
Crushing and origination	$	232	$	218	$	14		$	1,013	$	818	$	195
Refining, packaging, biodiesel   and other		86		79		7			329		291		38
Asia		61		62		(1	)		182		291		(109	)
Total Oilseeds Processing	$	379	$	359	$	20		$	1,524	$	1,400	$	124

Corn Processing Operating Profit
Sweeteners and starches	$	9	$	119	$	(110	)	$	320	$	529	$	(209	)
Bioproducts		109		21		88			742		193		549
Total Corn Processing	$	118	$	140	$	(22	)	$	1,062	$	722	$	340

Agricultural Services Operating Profit
Merchandising and handling	$	184	$	169	$	15	$	818	$	583	$	235
Transportation		9		9		–		104		85		19
Total Agricultural Services	$	193	$	178	$	15	$	922	$	668	$	254

Other Operating Profit
Processing	$	192	$	128		$	64	$	474	$	403	$	71
Financial		6		(6	)		12		39		46		(7	)
Total Other	$	198	$	122		$	76	$	513	$	449	$	64

Segment Operating Profit	$	888		$	799		$	89		$	4,021		$	3,239		$	782
Corporate
LIFO credit (charge)	$	52		$	(23	)	$	75		$	(368	)	$	42		$	(410	)
Interest expense - net		(82	)		(74	)		(8	)		(335	)		(283	)		(52	)
Corporate costs		(94	)		(63	)		(31	)		(326	)		(266	)		(60	)
Debt buyback costs		(8	)		–			(8	)		(8	)		(75	)		67
Unrealized gains (losses) on     interest rate swaps		–			(59	)		59			30			(59	)		89
Other		8			(30	)		38			1			(13	)		14
Total Corporate	$	(124	)	$	(249	)	$	125		$	(1,006	)	$	(654	)	$	(352	)
Earnings Before Income Taxes	$	764		$	550		$	214		$	3,015		$	2,585		$	430

Archer Daniels Midland Company – Page 8

Consolidated Statements of Earnings

(unaudited)

	Quarter ended						Year ended
	June 30						June 30
	2011			2010			2011			2010
	(in millions, except per share amounts)
Net sales and other operating income	$	22,870		$	15,703		$	80,676		$	61,682
Cost of products sold		21,772			14,777			76,376			57,839
Gross profit		1,098			926			4,300			3,843
Selling, general and administrative    expenses		423			331			1,611			1,398
Equity in (earnings) losses of    unconsolidated affiliates		(208	)		(133	)		(542	)		(561	)
Interest income		(39	)		(27	)		(136	)		(126	)
Interest expense		129			118			482			422
Other (income) expense – net		29			87			(130	)		125
Earnings before income taxes		764			550			3,015			2,585
Income taxes		(385	)		(105	)		(997	)		(666	)
Net earnings including noncontrolling interests		379			445			2,018			1,919
Less: Net earnings (losses) attributable    to noncontrolling interests		(2	)		(1	)		(18	)		(11	)
Net earnings attributable to ADM	$	381		$	446		$	2,036		$	1,930
Diluted earnings per common share	$	0.58		$	0.69		$	3.13		$	3.00
Average number of shares outstanding		652			643			654			644
Other (income) expense - net consists of:
Gain related to Golden Peanut     acquisition	$	–		$	–		$	(71	)	$	–
Debt buyback costs		15			–			15			75
Unrealized losses (gains) on interest     rate swaps		–			59			(30	)		59
Other – net		14			28			(44	)		(9	)
	$	29		$	87		$	(130	)	$	125

Archer Daniels Midland Company – Page 9

Summary of Financial Condition

(unaudited)

	June 30  2011		June 30 2010
	(in millions)
NET INVESTMENT IN
Working capital	$	16,339	$	10,279
Property, plant, and equipment		9,500		8,712
Investments in and advances to affiliates		3,240		2,799
Long-term marketable securities		666		678
Other non-current assets		1,283		1,225
	$	31,028	$	23,693
FINANCED BY
Short-term debt	$	1,875	$	374
Long-term debt, including current maturities		8,444		7,174
Deferred liabilities		1,871		1,514
Shareholders’ equity		18,838		14,631
	$	31,028	$	23,693

Archer Daniels Midland Company – Page 10

Summary of Cash Flows
(unaudited)
	Year Ended
	June 30
	2011			2010
	(in millions)
Operating Activities
Net earnings	$	2,018		$	1,919
Depreciation and amortization		877			912
Other – net		(3	)		(153	)
Changes in operating assets and liabilities		(5,232	)		6
Total Operating Activities		(2,340	)		2,684
Investing Activities
Purchases of property, plant and equipment		(1,247	)		(1,607	)
Net assets of businesses acquired		(218	)		(62	)
Marketable securities – net		(285	)		67
Other investing activities		75			(63	)
Total Investing Activities		(1,675	)		(1,665	)
Financing Activities
Long-term debt borrowings		1,564			27
Long-term debt payments		(417	)		(552	)
Debt repayment premium and costs		(21	)		(71	)
Net borrowings under lines of credit		1,381			29
Shares issued related to equity unit conversion		1,750			–
Purchases of treasury stock		(301	)		(100	)
Cash dividends		(395	)		(372	)
Other		23			11
Total Financing Activities		3,584			(1,028	)
Decrease in cash and cash equivalents		(431	)		(9	)
Cash and cash equivalents - beginning of period		1,046			1,055
Cash and cash equivalents - end of period	$	615		$	1,046