AVERAGE PRICES RECEIVED BY IOWA FARMERS SOYBEANS -- DOLLARS PER BUSHEL --------------------------------------------------------------------------- 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 --------------------------------------------------------------------------- JAN 6.42 6.18 7.66 5.95 5.39 7.82 5.73 5.04 4.59 5.54 FEB 6.77 5.95 7.44 5.86 5.54 7.19 5.60 5.05 4.58 5.86 MAR 6.98 5.73 7.61 5.90 5.71 7.69 5.76 5.14 4.63 5.96 APR 6.86 5.49 7.63 6.05 6.03 7.68 5.75 5.13 4.77 6.25 MAY 6.93 5.66 7.42 6.16 5.99 8.08 5.61 5.16 5.10 6.79 JUN 7.15 5.82 6.99 6.01 5.81 7.98 5.54 5.10 5.32 8.14 JUL 7.18 6.63 7.14 5.94 6.22 6.96 5.34 5.02 5.16 8.34 AUG 6.89 7.10 6.53 5.49 7.37 6.43 5.02 4.87 4.95 8.23 SEP 6.66 7.47 6.05 5.21 8.19 6.06 4.90 4.75 4.89 7.89 OCT 6.38 7.51 5.93 5.04 7.87 5.99 4.81 4.42 4.96 7.57 NOV 6.19 8.00 5.90 5.20 7.86 5.87 4.84 4.51 5.25 7.45 DEC 6.12 7.76 5.88 5.33 7.63 5.68 4.95 4.59 5.48 7.53 MARKET YR AVG. 6.17 7.44 5.94 5.85 7.78 5.67 4.99 4.73 5.97 7.33 PRICE --------------------------------------------------------------------------- 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 --------------------------------------------------------------------------- JAN 7.64 5.47 5.53 5.41 5.46 6.63 5.34 6.56 6.99 6.53 FEB 7.31 5.40 5.48 5.47 5.45 6.62 5.25 6.85 7.27 6.43 MAR 7.50 5.54 5.64 5.62 5.56 6.65 5.41 6.88 7.88 6.36 APR 7.24 5.70 5.72 5.57 5.65 6.51 5.47 7.23 8.17 6.22 MAY 7.12 5.90 5.62 5.76 5.71 6.69 5.49 7.58 8.39 6.17 JUN 6.98 5.81 5.53 5.85 5.81 6.66 5.57 7.39 8.10 6.09 JUL 6.72 5.89 5.30 5.54 6.47 5.87 5.79 7.57 7.46 6.00 AUG 5.99 5.95 5.59 5.35 6.44 5.51 5.71 7.72 7.08 5.35 SEP 5.68 5.93 5.62 5.30 6.19 5.39 5.91 7.84 6.66 5.19 OCT 5.47 5.82 5.42 5.19 5.97 5.28 6.02 6.89 6.35 5.14 NOV 5.54 5.65 5.40 5.30 6.26 5.33 6.27 6.80 6.85 5.39 DEC 5.51 5.58 5.34 5.40 6.63 5.33 6.61 6.80 6.67 5.28 MARKET YR AVG. 5.62 5.63 5.51 5.54 6.34 5.43 6.65 7.36 6.33 4.79 PRICE --------------------------------------------------------------------------- 1999 2000 2001 2002 2003 2004 2005* 2006 2007 2008 --------------------------------------------------------------------------- JAN 5.16 4.44 4.53 4.11 5.44 7.62 5.36 FEB 4.61 4.67 4.40 4.15 5.50 8.39 5.30 MAR 4.57 4.82 4.29 4.29 5.54 9.44 5.86 APR 4.57 4.95 4.19 4.36 5.76 9.67 5.95 MAY 4.44 5.17 4.26 4.57 6.02 9.72 6.05 JUN 4.29 4.88 4.42 4.84 6.11 9.34 6.49 JUL 4.04 4.47 4.77 5.26 5.80 8.58 6.58 AUG 4.22 4.32 4.87 5.40 5.62 6.80 6.00 SEP 4.42 4.53 4.60 5.37 6.06 5.96 5.25 OCT 4.35 4.41 4.05 5.20 6.58 5.62 5.35 NOV 4.30 4.60 4.14 5.40 7.14 5.33 DEC 4.37 4.75 4.14 5.42 7.34 5.32 MARKET YR AVG. 4.53 4.49 4.35 5.54 7.70 5.05 PRICE -------------------------------------------------------------------------- *Preliminary. **Mid-month price.