AVERAGE PRICES RECEIVED BY IOWA FARMERS CORN -- DOLLARS PER BUSHEL --------------------------------------------------------------------------- 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 --------------------------------------------------------------------------- JAN .78 .97 .90 .90 .93 1.01 1.05 1.13 1.14 1.24 FEB .78 .97 .88 .93 .93 1.03 1.04 1.14 1.13 1.20 MAR .83 1.00 .90 .93 .94 1.03 1.07 1.15 1.09 1.22 APR 1.00 1.06 .96 .90 .96 1.04 1.11 1.18 1.14 1.20 MAY 1.07 1.08 1.00 .98 .97 1.05 1.12 1.20 1.16 1.21 JUN 1.12 1.09 1.03 1.00 .98 1.11 1.10 1.19 1.16 1.23 JUL 1.09 1.06 1.04 1.01 1.00 1.14 1.06 1.15 1.22 1.18 AUG 1.09 1.07 1.01 1.00 .96 1.13 1.07 1.11 1.27 1.06 SEP 1.05 1.02 1.00 .99 .98 1.16 1.10 1.11 1.28 1.06 OCT .98 .97 .96 .96 .98 1.04 1.07 1.06 1.23 1.02 NOV .86 .92 .80 .93 .92 1.00 1.03 1.01 1.20 .95 DEC .97 .89 .85 .93 .98 1.03 1.12 1.09 1.25 .99 SEASON AVG. 1.08 1.01 .97 1.09 1.09 1.05 1.12 1.13 1.17 1.01 PRICE --------------------------------------------------------------------------- 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 --------------------------------------------------------------------------- JAN 1.00 1.06 1.07 1.36 1.04 1.30 2.51 3.01 2.37 2.30 FEB 1.01 1.06 1.06 1.38 1.04 1.26 2.67 2.82 2.43 2.30 MAR 1.02 1.05 1.05 1.36 1.05 1.28 2.59 2.63 2.44 2.28 APR 1.05 1.07 1.08 1.34 1.08 1.31 2.30 2.65 2.42 2.24 MAY 1.08 1.15 1.12 1.32 1.10 1.51 2.40 2.67 2.59 2.20 JUN 1.06 1.14 1.15 1.38 1.09 1.93 2.53 2.65 2.69 2.09 JUL 1.02 1.14 1.18 1.31 1.10 1.96 2.91 2.70 2.78 1.84 AUG .96 1.13 1.21 1.13 1.09 2.65 3.34 2.94 2.60 1.56 SEP .97 1.09 1.31 1.01 1.16 2.00 3.26 2.76 2.60 1.59 OCT .97 1.05 1.24 .94 1.10 2.06 3.44 2.54 2.27 1.67 NOV 1.00 1.04 1.24 .94 1.14 2.14 3.27 2.30 2.01 1.85 DEC 1.02 1.04 1.31 1.05 1.35 2.31 3.24 2.30 2.22 1.89 SEASON AVG. 1.07 1.11 1.25 1.04 1.65 2.58 2.97 2.50 2.05 1.99 PRICE --------------------------------------------------------------------------- CHANGED FROM SEASON AVERAGE PRICE TO MARKET YEAR AVERAGE PRICE --------------------------------------------------------------------------- 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 --------------------------------------------------------------------------- JAN 1.92 1.99 2.34 3.10 2.38 2.25 3.08 2.52 2.20 1.36 FEB 1.95 2.04 2.23 3.11 2.32 2.47 3.00 2.51 2.19 1.30 MAR 2.19 2.08 2.26 3.17 2.35 2.64 3.15 2.58 2.20 1.36 APR 2.18 2.18 2.29 3.21 2.48 2.90 3.28 2.62 2.21 1.44 MAY 2.26 2.24 2.31 3.20 2.51 3.00 3.28 2.60 2.30 1.55 JUN 2.25 2.38 2.41 3.10 2.49 2.96 3.25 2.56 2.21 1.60 JUL 2.12 2.55 2.65 3.08 2.41 3.03 3.21 2.52 1.90 1.51 AUG 1.92 2.45 2.85 2.78 2.17 3.27 3.05 2.34 1.48 1.35 SEP 1.90 2.36 2.91 2.42 2.09 3.21 2.84 2.25 1.26 1.36 OCT 1.87 2.28 2.88 2.33 1.99 3.06 2.56 2.11 1.24 1.46 NOV 1.96 2.20 2.98 2.29 2.09 3.11 2.46 2.14 1.40 1.54 DEC 1.99 2.22 3.14 2.30 2.15 3.08 2.44 2.16 1.42 1.61 MARKET YR AVG. NA 2.45 3.00 2.34 2.69 3.12 2.51 2.02 1.41 1.89 PRICE --------------------------------------------------------------------------- 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 --------------------------------------------------------------------------- JAN 1.66 2.51 2.15 2.15 2.30 1.94 2.66 2.08 3.00 2.59 FEB 1.74 2.48 2.15 2.21 2.40 1.93 2.72 2.13 3.25 2.55 MAR 1.78 2.53 2.26 2.32 2.48 2.03 2.68 2.21 3.33 2.72 APR 1.79 2.48 2.45 2.37 2.44 2.10 2.60 2.27 3.66 2.72 MAY 1.85 2.50 2.56 2.33 2.42 2.08 2.55 2.33 4.02 2.61 JUN 2.30 2.43 2.55 2.27 2.41 2.04 2.53 2.44 4.08 2.47 JUL 2.66 2.36 2.54 2.23 2.26 2.15 2.21 2.54 4.39 2.34 AUG 2.57 2.17 2.41 2.30 2.06 2.14 2.07 2.53 4.46 2.41 SEP 2.52 2.14 2.19 2.25 2.04 2.11 2.05 2.60 3.95 2.44 OCT 2.52 2.11 2.10 2.23 1.98 2.19 2.01 2.71 2.84 2.44 NOV 2.45 2.15 2.09 2.25 1.93 2.40 1.97 2.78 2.61 2.45 DEC 2.46 2.17 2.13 2.26 1.90 2.65 2.04 2.96 2.52 2.45 MARKET YR AVG. 2.45 2.29 2.21 2.30 2.00 2.44 2.22 3.20 2.60 2.33 PRICE --------------------------------------------------------------------------- 1998 1999 2000 2001 2002 2003 2004 2005* 2006 2007 --------------------------------------------------------------------------- JAN 2.44 1.94 1.77 1.86 1.88 2.19 2.33 2.02 FEB 2.47 1.96 1.91 1.87 1.86 2.23 2.55 2.00 MAR 2.47 1.98 1.97 1.88 1.89 2.23 2.67 1.98 APR 2.37 1.97 1.98 1.83 1.86 2.26 2.79 1.90 MAY 2.28 1.95 2.07 1.72 1.84 2.31 2.80 1.80 JUN 2.20 1.90 1.86 1.66 1.88 2.27 2.77 1.90 JUL 2.08 1.66 1.58 1.79 2.03 2.09 2.48 2.00 AUG 1.81 1.65 1.43 1.83 2.27 2.04 2.23 1.75 SEP 1.72 1.59 1.46 1.81 2.43 2.12 2.13 1.55 OCT 1.87 1.58 1.66 1.78 2.25 2.05 2.16 1.65 NOV 1.92 1.65 1.83 1.80 2.22 2.15 2.00 DEC 1.94 1.77 1.89 1.91 2.22 2.27 1.99 MARKET YR AVG. 1.86 1.72 1.75 1.90 2.22 2.37 1.90 PRICE --------------------------------------------------------------------------- *Preliminary. **Mid-month price