Amid all the hoopla over President Bush's State of the Union address, Archer Daniels Midland's quarterly report (PDF), released Tuesday, got little attention outside of Wall Street -- where it drew cheers, sending ADM's share price to an all-time high. At the company's conference call with analysts, the Wall Street Journal reports, John M. McMillin of Prudential Securities "likened [Archer Daniels Midland] to Exxon Mobil Corp., which just announced its own record-breaking profit and jokingly suggested the company might be called upon to explain its profits." Actually, McMillin's comparison isn't all that comical. Just as ExxonMobil clawed its way to …
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Tom Philpott was previously Grist's food writer. He now writes for Mother Jones.