As we noted earlier this morning, Archer-Daniels-Midland (NYSE: ADM) reported strong fiscal fourth quarter numbers this morning. The company showed ourth quarter income more than doubled from last year, and traders have been pushing the stock higher in early morning trading. As of 8:45 the stock is now trading up 4.0% in premarket trading.

We are going to be covering this morning's call in its entirety, so be sure to refresh your screen frequently as we will be updating this page regularly.

8:50 am - Getting ready for this mornings call to get under way.

8:55 am - About 5 more minutes and then we should be getting under way with this mornings call

9:01 am - getting under way now, just going through all the SEC regulatory comments now

9:03 am - Patricia Woertz, CEO , going over some full year numbers: 20% increase in yearly revenues, and 65% increase in yearly EPS

9:05 am - COmpany bought back 15.4 million shares of stock during the year

9:07 am - Company out performed estimates for return on assets in Q4. Objective was 13% and actual was 15.7%.

9:08 am - Another quarter where high corn costs came into play, but corn costs have fallen recently and hopefully trend will continue

9:10 am - Administrative expenses declined 1% during the quarter. Had $967million in gain on asset sales.. mostly from Asia

9:11 am - Net earnings were $955 million $1.47/share compared to Q4 2006 of $410 million or $0.62/share

9:13 am - Going over objectives again...

• Return on Net Asset objective was 13.7%, actual was 15.7%
• Cost per metric ton: objective for the quarter was $110 per metric ton, and actual came in under that at only $108.89 per metric ton

9:14 am - total segment operating profit for the quarter climbed to $1.152 billion, up from $637 million during Q4 '06

9:16 am - Corn processing profits declined year over year... mainly due to high net corn costs

9:18 am - Operating costs increased by 9 million dollars in corn processing due mainly to higher energy costs

9:20 am -was an extra 14 million acres of corn planted this year, this extra corn crops should continue to help ease prices

9:21 am - moving to agricultural services profit: 2007 profit was $241 million which was significantly higher than 2006 when the agricultural services profit was $ 83 million

9:22 am - Corporate results were positive $242 million compared to a charge of $55 million

9:24 am - going over capital investment strategy

• Increasing capacity in key markets: ethanol, biodiesel, and cocoa
• improving coal cost efficiency

9:28 am - looking over the ADM advantage: access to corn crops across the nation; coal cogenertion vs. natural gas, access to global markets

9:31 am : Diane @ Merrill. Looking at corn prices... company stated they see prices coming down in Q1 2008.... is that year over year, or sequentially? They were referring to sequential decrease in Q1 2008

9:33 am - market just opened... ADM is trading in very early morning trading up 3.1% at 35.10

9:35 am - Vincent from Morgan Stanley: What do they think about a possible ethanol supply glut that we hear about in the market, how is blending impacting the inventories? Company has been seeing more blending and think they will see more areas moving towards a 10% blend.

9:39 am Cristina @ Deutche Bank : Dealing with the change in China... what exactly does the company own now? Model hasn't really changed. Company has # of joint ventures which they have consolidated down to 1 entity. Exchanged the shares in joint ventures in China, not in Wilmar, and now has about 16% direct ownership in Wilmar International

9:44 am - Robert @ Credit Suisse : Wheat milling could have problems over the next 12 months due to crop problems... do they expect margins to be tighter as a result? Company thinks they are strong in this area, would consider this more of a positive for their milling business. Will profits be higher in next 12 months? They will not answer that question

9:48 am Michael @ Cleveland Research : Touching base on the sweetener side of the business.. how do they see that side of the business playing out? It is too early to say. Looking at oil seed business... how has feed demand remained in China considering recent herd losses in the country? A slight dip, but nothing substantial. Where are we in terms of utilization rates in China? Right now, its right about 65%, don't see a lot more plants being built, so should continue to increase in each year.

9:52 am - Ed from Banc Of America Securities : looking for an update out of Europe. Have mandates caught up in relation to industry capacity? Mandates have not really moved up that much.

9:55 am - David @ Citigroup: Back to oilseeds... do they see improving crushed margins in North America being enough to balance out Europe? Wont give any specific details on the positions, but they are very pleased with North America which is where they see their biggest strength

9:57 am - Kenneth @ BMO (i think was BMO): In terms of agricultural services business: Can we expect to see more growth in that area, or should we continue to see returns at sequential averages? Company continues to see more strength and considers agricultural services as a key part of the business going forward

10:00 am - Pablo @ JP Morgan : Can they discuss their tax rate. Pablo thinks tax rate is down around 23%. Can they explain why is so low? Seems to be some disagreement... Pablo is not happy, and thinks they have mis represented the numbers. I am not sure there was any resolution, neither side seems to understand what the other is trying to say

10:05 am - Dianne @ Merrill : Looking at equity investments... her understanding is that those stretch back to the mid 90s. Is there a point where these funds will pay what they are supposed to and go away? How will that effect earnings going ahead? Yes, they will terminate, many still go a couple more years out. Over the course of the next 2 to 3 years should be fully distributed

10:10 am - and that brings the call to a close