Assocaited Press | Archer Daniels Midland Co. says its first-quarter profit soared to more to $421 million from just $3 million in the same period last year, as global demand for biofuels boosted the company’s corn processing business. The Decatur-based company reported Tuesday it earned 65 cents per share, compared with 0 cents per share last year.

The results still came in below Wall Street expectations, with analysts
surveyed by Thomson Reuters forecasting a profit of 72 cents per share.

Revenue rose 2 percent, to $15.1 billion, from $14.8 billion last year.