<SEC-DOCUMENT>0001193125-24-256030.txt : 20241112
<SEC-HEADER>0001193125-24-256030.hdr.sgml : 20241112
<ACCEPTANCE-DATETIME>20241112163627
ACCESSION NUMBER:		0001193125-24-256030
CONFORMED SUBMISSION TYPE:	NT 10-Q
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240930
FILED AS OF DATE:		20241112
DATE AS OF CHANGE:		20241112
EFFECTIVENESS DATE:		20241112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Archer-Daniels-Midland Co
		CENTRAL INDEX KEY:			0000007084
		STANDARD INDUSTRIAL CLASSIFICATION:	FATS & OILS [2070]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				410129150
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NT 10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-00044
		FILM NUMBER:		241449091

	BUSINESS ADDRESS:	
		STREET 1:		77 W. WACKER DR.
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60601
		BUSINESS PHONE:		312-634-8233

	MAIL ADDRESS:	
		STREET 1:		77 W. WACKER DR.
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60601

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARCHER DANIELS MIDLAND CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>NT 10-Q
<SEQUENCE>1
<FILENAME>d826408dnt10q.htm
<DESCRIPTION>NT 10-Q
<TEXT>
<HTML><HEAD>
<TITLE>NT 10-Q</TITLE>
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<TD VALIGN="top" ALIGN="center" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt; padding-right:2pt"><FONT STYLE="white-space:nowrap">001-00044</FONT></TD></TR>
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<TD VALIGN="top" ALIGN="center" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt; padding-right:2pt">CUSIP NUMBER</TD></TR>
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<TD VALIGN="top" ALIGN="center" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt; padding-right:2pt">039483102</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, DC 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">12b-25</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>NOTIFICATION
OF LATE FILING </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="right"><I>(Check One):&#8195;</I></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744;&#8194;Form&nbsp;10-K&#8195; <FONT STYLE="white-space:nowrap">&#9744;&#8194;Form&nbsp;20-F&#8195;</FONT> <FONT
STYLE="white-space:nowrap">&#9744;&#8194;Form&nbsp;11-K&#8195;</FONT> <FONT STYLE="white-space:nowrap">&#9746;&#8194;Form&nbsp;10-Q</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&#9744;&#8194;Form&nbsp;10-D&#8195; &#9744;&#8194;Form&nbsp;N-CEN&#8195; <FONT STYLE="white-space:nowrap">&#9744;&#8194;Form&nbsp;N-CSR</FONT></P></TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">For&nbsp;Period&nbsp;Ended: September 30, 2024</TD></TR>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;&#8194;Transition Report on Form&nbsp;10-K</TD></TR>
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<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;&#8194;Transition Report on Form&nbsp;20-F</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;&#8194;Transition Report on Form&nbsp;11-K</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;&#8194;Transition Report on Form&nbsp;10-Q</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">For&nbsp;the&nbsp;Transition&nbsp;Period&nbsp;Ended: <U>&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;</U></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD HEIGHT="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;</TD></TR>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>&#8195;</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Nothing in this
form shall be construed to imply that the Commission has verified any information contained herein.</B></P> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the notification relates to a portion of the filing checked above, identify the item(s) to which the
notification relates: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&#8195;&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART I &#150; REGISTRANT
INFORMATION </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:22pt; font-family:Times New Roman" ALIGN="center"><B>Archer-Daniels-Midland Company </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Full Name of Registrant </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Former
Name if Applicable </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>77 West Wacker Drive, Suite 4600 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Address of Principal Executive Office (Street and Number) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Chicago, Illinois 60601 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">City, State and Zip Code </P> <P STYLE="margin-top:0pt;margin-bottom:0pt;page-break-before:always"></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART II&#150; RULE <FONT STYLE="white-space:nowrap">12b-25(b)</FONT> AND (c) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule <FONT
STYLE="white-space:nowrap">12b-25(b),</FONT> the following should be completed. (Check box if appropriate.) </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="middle" ROWSPAN="3" STYLE="BORDER-RIGHT:1px solid #000000; padding-left:8pt">&#9746;&#8194;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">(a)&#8194;&#8201;&#8202;The reason described in reasonable detail in Part III of this form could
not be eliminated without unreasonable effort or expense;</P></TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">(b)&#8194;&#8201;&#8202;The subject annual report, semi-annual report, transition report on Form <FONT
STYLE="white-space:nowrap">10-K,</FONT> Form <FONT STYLE="white-space:nowrap">20-F,</FONT> Form <FONT STYLE="white-space:nowrap">11-K,</FONT> Form <FONT STYLE="white-space:nowrap">N-CEN</FONT> or Form <FONT STYLE="white-space:nowrap">N-CSR,</FONT>
or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or subject distribution report on
Form <FONT STYLE="white-space:nowrap">10-D,</FONT> or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">(c)&#8194;&#8201;&#8202;The accountant&#146;s statement or other exhibit required by Rule <FONT
STYLE="white-space:nowrap">12b-25(c)</FONT> has been attached if applicable.</P></TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART III &#150; NARRATIVE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">State below in reasonable detail why Forms <FONT STYLE="white-space:nowrap">10-K,</FONT> <FONT STYLE="white-space:nowrap">20-F,</FONT> <FONT
STYLE="white-space:nowrap">11-K,</FONT> <FONT STYLE="white-space:nowrap">10-Q,</FONT> <FONT STYLE="white-space:nowrap">10-D,</FONT> <FONT STYLE="white-space:nowrap">N-CEN,</FONT> <FONT STYLE="white-space:nowrap">N-CSR,</FONT> or the transition
report or portion thereof, could not be filed within the prescribed time period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Archer-Daniels-Midland Company (the &#147;Company&#148;)
is unable to file its quarterly report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the period ended September&nbsp;30, 2024 (the &#147;Form <FONT STYLE="white-space:nowrap">10-Q&#148;)</FONT> within the prescribed time period without
unreasonable effort and expense. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As previously disclosed in the Company&#146;s November&nbsp;4, 2024 press release furnished as an
exhibit to the Company&#146;s Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed on November&nbsp;5, 2024, the Board of Directors of the Company, after discussion with management of the Company and following the Company&#146;s
ongoing dialogue with the staff of the United States Securities and Exchange Commission, concluded that the Company will amend its fiscal year 2023 Form <FONT STYLE="white-space:nowrap">10-K</FONT> (the &#147;FY2023 Form <FONT
STYLE="white-space:nowrap">10-K&#148;)</FONT> and Form <FONT STYLE="white-space:nowrap">10-Qs</FONT> for the first and second quarters of 2024 (collectively, the &#147;Q1 and Q2 2024 Form <FONT STYLE="white-space:nowrap">10-Qs&#148;)</FONT> to
restate the segment information disclosure (Note 17 included in the FY2023 Form <FONT STYLE="white-space:nowrap">10-K</FONT> and Note 13 included in the Q1 and Q2 2024 Form <FONT STYLE="white-space:nowrap">10-Qs)</FONT> for each of the periods
included in those filings, including fiscal years 2021, 2022 and 2023 in the FY2023 Form <FONT STYLE="white-space:nowrap">10-K</FONT> and each of the quarterly and
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT> periods included in the Q1 and Q2 2024 Form <FONT STYLE="white-space:nowrap">10-Qs</FONT> (collectively, the &#147;Prior Filings&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As previously disclosed in Note 17,<I>&nbsp;Segment and Geographic Information</I>, to the Company&#146;s consolidated financial statements
included in the FY2023 Form <FONT STYLE="white-space:nowrap">10-K,</FONT> the Company identified and corrected certain intersegment sales amounts that either (i)&nbsp;were not in accordance with prior disclosures about presenting such sales at
amounts approximating market or (ii)&nbsp;included intrasegment sales (resulting from sales within the segment) and should have included exclusively intersegment sales (resulting from sales from one segment to another). In connection with the error
corrections, the Company identified a material weakness in its internal control over financial reporting related to its accounting practices and procedures for intersegment sales. The Company put in place a plan to remediate this material weakness,
as disclosed in the FY2023 Form <FONT STYLE="white-space:nowrap">10-K</FONT> and Q1 and Q2 2024 Form <FONT STYLE="white-space:nowrap">10-Qs.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the course of testing new controls implemented as part of the Company&#146;s material weakness remediation plan in the third quarter of
2024, the Company identified additional misclassified intersegment transactions. These newly identified errors concern additional intersegment sales for each of its Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition segments that
included certain intrasegment sales and should have included exclusively intersegment sales. The Company also identified some intersegment transactions between Ag Services and Oilseeds and Carbohydrate Solutions that were not accounted for
consistently in accordance with revenue recognition and segment reporting standards and should not have been reported as intersegment sales. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The restatements of the Prior Filings are not expected to result in any material impact on the Company&#146;s Consolidated Statements of
Earnings, Consolidated Statements of Comprehensive Income (Loss), Consolidated Balance Sheets, Consolidated Statements of Cash Flow or Consolidated Statements of Shareholders&#146; Equity as of and for the periods presented therein. The restated
Prior Filings will include corrections for the newly identified errors related to intersegment sales, will reflect the previously-corrected errors related to intersegment sales, and will include other segment disclosure corrections. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company intends to restate the segment information disclosure in the Prior Filings as soon as reasonably practical in amendments to the
FY2023 Form <FONT STYLE="white-space:nowrap">10-K</FONT> and the Q1 and Q2 2024 Form <FONT STYLE="white-space:nowrap">10-Qs,</FONT> but requires additional time to complete the amendments. As a result, the Company is not able to timely complete the
preparation of its financial statements and related disclosures to be included in the Form <FONT STYLE="white-space:nowrap">10-Q.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The information provided above is subject to change as the Company continues to focus on implementing enhancements to its internal controls to
remediate its previously identified weakness, taking action to enhance its integrity and accuracy within internal controls and financial reporting related to intersegment sales. </P>
<P STYLE="margin-top:0pt;margin-bottom:0pt;page-break-before:always"></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART IV &#150; OTHER INFORMATION </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">(1)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#8195;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="9">Name and telephone number of person to contact in regard to this notification:</TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD>
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<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><B>Monish Patolawala</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>&#8195;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><B>312</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>&#8195;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><B>634-8100</B></TD></TR>
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<TD VALIGN="bottom" ALIGN="center">(Name)</TD>
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<TD VALIGN="bottom" ALIGN="center">(Area&nbsp;Code)</TD>
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<TD VALIGN="bottom" ALIGN="center">(Telephone&nbsp;Number)</TD></TR>
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<TD VALIGN="bottom" COLSPAN="9">Have all other periodic reports required under Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 or Section&nbsp;30 of the Investment Company Act of 1940 during the preceding 12 months or for such
shorter period that the registrant was required to file such report(s) been filed? If the answer is no, identify report(s).&#8195;&#9746;&#8194;Yes&#8195;&#9744;&#8194;No</TD></TR>
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<TD VALIGN="bottom" COLSPAN="9" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-size:10pt">&#8195;</FONT></TD></TR>
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<TD VALIGN="top">(3)</TD>
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<TD VALIGN="bottom" COLSPAN="9">Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or
portion thereof?&#8195;&#9746;&#8194;Yes&#8195;&#9744;&#8194;No</TD></TR>
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<TD VALIGN="bottom" COLSPAN="9">If so: attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On November&nbsp;4, 2024, the Company issued a press release announcing preliminary unaudited financial
results for the third quarter of 2024, a copy of which was furnished as an exhibit to the Company&#146;s Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed on November&nbsp;5, 2024. As noted in that press release, net earnings
for the third quarter of 2024 are expected to be reported at $18&nbsp;million, as compared to $0.8&nbsp;billion for the prior-year period, with earnings per share expected to be $0.04, as compared to $1.52 for the prior-year period. GAAP earnings
include a reduction in the carrying value of the Company&#146;s Wilmar equity investment to reflect the Singapore Exchange trading price as of the balance sheet date. The reduction resulted from a determination that declines in the valuation amount
for our investment are impaired on an &#147;other than temporary&#148; basis as of the end of the quarter. This has resulted in a <FONT STYLE="white-space:nowrap">non-cash</FONT> charge against GAAP earnings for the third quarter of 2024 of
$461&nbsp;million. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On a segment level, the Company&#146;s press release also announced preliminary unaudited financial results for its
three segments: Ag Services and Oilseeds segment operating profit is expected to be $480&nbsp;million for the third quarter of 2024, down (43)% compared to the prior year period; Carbohydrate Solutions segment operating profit is expected to be
$452&nbsp;million for the third quarter of 2024, down (3)% compared to the prior year period; and Nutrition segment operating profit is expected to be $105&nbsp;million for the third quarter of 2024, down (19)% compared to the prior year period.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In regards to cash flows, the Company&#146;s preliminary
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT> cash flows from operating activities are expected to be $2.468&nbsp;billion, as compared to cash flows from operating activities of $1.891&nbsp;billion for
the corresponding prior-year <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT> period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As
described above, the restated Prior Filings will include corrections for the newly identified errors related to intersegment sales, the previously-corrected errors related to intersegment sales, and other segment disclosure corrections, and the
third quarter 2024 Form <FONT STYLE="white-space:nowrap">10-Q</FONT> will reflect the applicable corrected amounts for the comparative prior-year quarterly and
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">year-to-date</FONT></FONT> information reflected in that Form <FONT STYLE="white-space:nowrap">10-Q.</FONT> </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cautionary Note Regarding Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>This filing contains &#147;forward-looking statements&#148; within the meaning of the Private Securities Litigation Reform Act of 1995 that involve
substantial risks and uncertainties. All statements, other than statements of historical fact included in this release, are forward-looking statements, including, but not limited to, statements about the anticipated timing of the filing of the
Company&#146;s Form <FONT STYLE="white-space:nowrap">10-Q</FONT> and restated Prior Filings, the impact of correction on the Company&#146;s segment or consolidated results, and matters related to expected results of operations. You can identify
forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as &#147;anticipate,&#148; &#147;estimate,&#148; &#147;expect,&#148; &#147;project,&#148;
&#147;plan,&#148; &#147;intend,&#148; &#147;believe,&#148; &#147;may,&#148; &#147;outlook,&#148; &#147;will,&#148; &#147;should,&#148; &#147;can have,&#148; &#147;likely,&#148; and other words and terms of similar meaning in connection with any
discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to significant risks, uncertainties and changes in circumstances that could cause actual results and outcomes
to differ materially from the forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks, assumptions and uncertainties, including, without limitation, the Company&#146;s inability to file
the Form <FONT STYLE="white-space:nowrap">10-Q</FONT> on a timely basis; changes to the scope and magnitude of the corrections described above, the identification of additional errors or other matters; the identification of additional material
weaknesses and the remediation of previously identified material weaknesses; the impact of the correction of errors on the Company&#146;s financial statements to be included in the amendments to the Prior Filings and in the Form <FONT
STYLE="white-space:nowrap">10-Q;</FONT> the impact of this filing on the Company&#146;s common stock, its relationships with employees, customers and suppliers; and those additional risks that are described in the Company&#146;s FY2023 Form <FONT
STYLE="white-space:nowrap">10-K</FONT> and in other documents that the Company files or furnishes with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove
incorrect, actual outcomes may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date
they are made. Except to the extent required by law, the Company does not undertake, and expressly disclaims, any duty or obligation to update publicly any forward-looking statement after the date of this announcement, whether as a result of new
information, future events, changes in assumptions or otherwise. </I></P> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:2.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Archer-Daniels-Midland Company
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Name of Registrant as Specified in Charter) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Has caused this notification to be signed on its behalf by the undersigned thereunto duly authorized. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">Date: November&nbsp;12, 2024</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman"><I>/s/ Monish Patolawala</I></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Monish Patolawala</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
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<TD VALIGN="top">Executive Vice President and Chief Financial Officer</TD></TR>
</TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
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