"The ADM team executed well, delivering strong sequential earnings growth," said Chairman of the Board and Chief Executive Officer Patricia Woertz. "Earnings were significantly better than the second half of fiscal 2009. As we advance our growth strategy, we are using our financial strength to build shareholder value. Looking ahead, we see demand improving in some key markets, and we have the assets and acumen to capture value as the global economy resets."

Net earnings attributable to ADM for the quarter ended September 30, 2009, were $ 496 million -- $ .77 per share, down 53% from last year's record first quarter.

Net sales for the quarter ended September 30, 2009, were $14.9 billion, down 29 %.

Segment operating profit for the quarter ended September 30, 2009, was $ 774 million, down 34 %.

Oilseeds Processing profit decreased on lower margins and production.

Corn Processing profit improved on lower net corn and manufacturing costs.

Agricultural Services profit decreased due to reduced demand and less volatile commodity market conditions.

Other operating profit was materially unchanged. Global wheat milling margins improved.

Financial Highlights

 (Amounts in millions, except per share data and percentages)                     
                                        Quarter ended September 30                
                                        2009         2008            % Change     
 Net sales                              $  14,921    $  21,160       (29       %) 
 Segment operating profit               $  774       $  1,176        (34       %) 
 Net earnings attributable to ADM       $  496       $  1,045        (53       %) 
 Earnings per share                     $  .77       $  1.62         (52       %) 
 Average number of shares outstanding      644          645          -            
                                                                                  


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Strategic Investment Activities

To drive earnings growth, the Company advanced its strategy to expand the size and global reach of its core model:

The Company began operations at its new cocoa processing facility in Kumasi, Ghana, improving access to a key growing region.

The Company acquired five oceangoing vessels, totaling 250,000 metric tons of cargo capacity, enhancing the flexibility and efficiency of its transportation network.

The Company acquired an oilseed processing plant in Olomouc, Czech Republic, improving access to the Central European market and expanding its origination footprint.

The Company began production at its new Columbus, Nebraska, ethanol plant. The plant's scale and its integration with the Company's existing infrastructure give it a cost-efficient position as the industry meets the increased 2010 ethanol mandate.

The Company completed construction of its Clinton, Iowa, cogeneration facility which provides cost-effective process steam and electricity to its adjacent corn processing complex.

The Company began production at its first sugarcane ethanol plant in Brazil, improving its capacity to meet growing Brazilian demand for renewable fuel.

New Accounting Standards

Certain amounts in the prior year's Consolidated Statements of Earnings, Segment Operating Analysis, Summary of Financial Condition and Summary of Cash Flows have been restated and presentation formats have been modified to apply the requirements of new accounting standards ASC Topic 810 and ASC Topic 470-20. Effective July 1, 2009, the Company adopted this amended guidance which requires retrospective application to all periods presented.

Discussion of Operations

Net sales decreased 29 % to $ 14.9 billion primarily due to decreased average selling prices and, to a lesser extent, foreign exchange translation impacts. Average selling prices decreased in line with year-over-year declines in underlying commodity costs. There were no material changes in overall sales quantities.

A summary of segment operating profit and net earnings is as follows:

                                                               Quarter ended                         
                                                               September 30                          
                                                               2009         2008          Change     
                                                                                                     
 Oilseeds Processing                                           $  284       $  510        $  (226  ) 
 Corn Processing                                                  188          118           70      
 Agricultural Services                                            175          428           (253  ) 
 Other                                                            127          120           7       
 Segment operating profit                                         774          1,176         (402  ) 
 Corporate                                                        (57   )      310           (367  ) 
 Earnings before income taxes                                     717          1,486         (769  ) 
 Income taxes                                                     (220  )      (440   )      220     
 Net earnings including noncontrolling interests                  497          1,046         (549  ) 
 Less: Net earnings attributable to noncontrolling interests      (1    )      (1     )      --      
 Net earnings attributable to ADM                              $  496       $  1,045      $  (549  ) 
                                                                                                     


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Net earnings attributable to ADM decreased $ 549 million, due principally to the $ 402 million decrease in segment operating profit and the reduced impact on Corporate results of the change in LIFO inventory valuations. Income taxes decreased due principally to decreased pretax earnings, partially offset by an increased effective tax rate resulting from changes in the geographic mix of pretax earnings.

Oilseeds Processing Operating Profit

                                            Quarter ended                  
                                            September 30                   
                                            2009      2008      Change     
                                                                           
 Crushing and origination                   $  135    $  339    $  (204  ) 
 Refining, packaging, biodiesel and other      70        106       (36   ) 
 Asia                                          79        65        14      
 Total Oilseeds Processing                  $  284    $  510    $  (226  ) 
                                                                           


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Oilseeds Processing operating profit decreased $ 226 million. Crushing and origination results declined $ 204 million due to lower production volumes resulting from a short global soybean supply.