ADM 2012 Shareholder Letter - Fiscal Year Results

ADM's shareholder letter reports on the company's performance during the six-month interim 2012½ fiscal year transition period, highlighting adjusted earnings of $1.10 per share despite severe drought conditions. The company achieved over $1 billion in cash liberation, reduced annual costs by $150 million, and increased capital discipline while maintaining strong liquidity and announcing an 8.6% dividend increase.