OUTLOOK SEMINARANNUAL MEETING

AFOAOctober 9, 2013

3

FUNDAMENTAL FACTORS IN THE FORMATION OF PRICES

Market

Growth in Consumption of

Protein

Basic supply/ demand input Energy

ExchangeInvestments

World Macro-Economic Conditions

1990/91 2013/14 % Change

Population 5.3 billion

7.10 billion

34%

Wheat 549 702 28%Coarse Grain 814 1,211 49%Rice 344 472 37%Oilseed Meals 113 269 138%Soy Meal 69 185 167%Oils & Fats 82 188 129%Soy Oil 15 44 187%Palm Oil 11 56 404%Beef & Veal 49 56 14%Pork 65 107 65%Poultry 31 88 187%All Meat 145 251 74%

World Consumption Trends(mln tonnes)

Source: USDA, Oil World

Source: USDAOil World

1990/1991

1991/1992

1992/1993

1993/1994

1994/1995

1995/1996

1996/1997

1997/1998

1998/1999

1999/2000

2000/2001

2001/2002

2002/2003

2003/2004

2004/2005

2005/2006

2006/2007

2007/2008

2008/2009

2009/2010

2010/2011

2011/2012

2012/2013

2013/2014

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

1,000,000

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

Wheat Coarse Grains OilseedsRice Total Production

Mln

. Hec

tare

sArea and Production of Grains and OilseedsArea and Production of Grains and Oilseeds

CRUDE PETROLEUM

07/0

3/20

0608

/22/

2006

10/1

0/20

0611

/28/

2006

01/1

6/20

0703

/06/

2007

04/2

4/20

0706

/12/

2007

07/3

1/20

0709

/18/

2007

11/0

6/20

0712

/24/

2007

02/1

2/20

0804

/01/

2008

05/2

0/20

0807

/08/

2008

08/2

6/20

0810

/14/

2008

12/0

2/20

0801

/20/

2009

03/1

0/20

0904

/28/

2009

06/1

6/20

0908

/04/

2009

09/2

2/20

0911

/10/

2009

12/2

9/20

0902

/16/

2010

04/0

6/20

1005

/25/

2010

07/1

3/20

1008

/31/

2010

10/1

9/20

1012

/07/

2010

01/2

5/20

1103

/15/

2011

05/0

3/20

1106

/21/

2011

08/0

9/20

1109

/27/

2011

11/1

5/20

1101

/03/

2012

02/2

1/20

1204

/10/

2012

05/2

9/20

1207

/17/

2012

09/0

4/20

1210

/23/

2012

12/1

1/20

1201

/29/

2013

03/1

9/20

1305

/07/

2013

06/2

5/20

1308

/13/

2013

-200,000

-150,000

-100,000

-50,000

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000Traditional Hedge Funds

Corn FundsSB FundsSBO FundsSBM fundsCBOT Wheat FundsKBOT Wheat Funds

cont

ract

s

ARCHER DANIELS MIDLAND COMPANYARCHER DANIELS MIDLAND COMPANY

RELEVANT MARKET FACTORS PAST 18 MONTHS

Crop Losses in Soy in South America March/April 2012

Increase in the Brazilian Corn Crop May/June 2012

Crop Losses in Corn and Soy in the U.S. September/October 2012

Record Soy and Corn Crops in South America

Progress of Northern Hemisphere Crops

Continued Growth in Palm Oil Production

2013

WHEAT 2011/12 2012/13 2013/14AREA 221.7 221.3 221.9PRODUCTION 697.2 655.3 705.4TRADE 157.8 138.7 149.1TOTAL USE 696.8 680.4 699.9STOCKS 199.6 174.4 173.0STOCKS/USAGE 28.6% 25.6% 24.7%

COARSE GRAINSAREA 311.6 319.4 321.2PRODUCTION 1,154.5 1,128.5 1245.6TRADE 146.6 121.8 133.8TOTAL USE 1,154.8 1,142.9 1215.2STOCKS 165.6 151.2 181.7STOCKS / USAGE 14.3% 13.2% 15.0%

OILSEEDSAREA 258.8 263.3 267.3PRODUCTION 441.7 463.8 484.9TRADE 115.2 119.3 127.0TOTAL USE 463.4 456.8 474.0STOCKS 67.6 74.6 85.5STOCKS/USAGE 14.6% 16.3% 18.0%

WORLD CROP SUPPLY/DEMAND

(Mln. Tonnes, Mln. Hectares)

ARCHER DANIELS MIDLAND COMPANYARCHER DANIELS MIDLAND COMPANY

ARCHER DANIELS MIDLAND COMPANYARCHER DANIELS MIDLAND COMPANY

MARKET ISSUES

Political / Financial Issues

Final Northern Hemisphere Crop Results

Rebound in 13/14 Livestock Demand

Crude Oil / Energy Issues

Southern Hemisphere Plantings / Weather

Palm Oil Supplies / Stocks

Biofuels Issues: Political / Economic?

Farm Economics 2014?

ARCHER DANIELS MIDLAND COMPANYARCHER DANIELS MIDLAND COMPANY

CONTINUOUS OIL SHARE

14