ADM Reports Higher Earnings on Starch, Sweetener, & Corn

Corn Processing operating profits increased $ 99 million to $ 335 million for the quarter and increased $ 253 million to $ 626 million for the six months.

12/02/07 Archer Daniels Midland reported that net earnings for the quarter ended December 31, 2006 were $ 441 million, or $ .67 per share, compared to $ 368 million, or $ .56 per share, last year.

Corn Processing operating profits increased $ 99 million to $ 335 million for the quarter and increased $ 253 million to $ 626 million for the six months. Increased starch, sweetener and ethanol selling prices contributed to the earnings improvement and were partially offset by increasing net corn costs.

Results for the quarter and six months ended December 31, 2005 included $ 15 million of employee severance costs associated with the closure of a citric acid plant.

Oilseeds Processing operating profits increased $ 64 million to $ 192 million for the quarter and increased $ 134 million to $ 362 million for the six months due principally to improved gross margins in all geographic regions.