NC Soy Quality, Supply and Pricing

NC Soy Quality, Supply and Pricing Charles Hall CEO – North Carolina Soybean Producers Association, Inc.

NCSPA Commitment to Quality Fund research on high protein and oil content Breeding research on composition and quality Communicate with farmers on quality and production issues Work with universitieson new varieties that meet Asian demand

NC Planted Area of Major CropsSoybeans primary crop 2010 estimate 728,000 hectares will be planted

2009 Record Expected Crop Yield2.31 Metric Tones per Hectare

NC Soybean Planted Area and Yield728K Hectares, Largest since 1985 Hectares

2009 Record NC Soybean Production Over 1.6 Million Metric Tons Produced

NC Soybean Producers Association Estimates Soybean Planting Intentions same at 2009

Soybean Production 2008Most soybean production in the east, near the ocean

2009 ASA-IM Crop Quality Report • Protein: 35.8% • Oil: 19.6% • Number of Samples: 13

North Carolina Averages .5% more protein and oil according – ASA IM Crop Quality Survey

USDA Agrees – NC Beans Better In 2007, GIPSA collected and analyzed 1,112 samples from elevators in 27 states. North Carolina soybean sample averaged 0.3% higher protein, 0.3% higher oil content, with fewer splits and slightly higher test weight.

USDA Elizabeth City Testing Results Of 1,268 containers tested in February 2010: • foreign material average was 0.8 % • splits average was 6.9 %

2009 ASA-IM Crop Quality Report NC Foreign Material

Despite higher quality, prices are lower in North CarolinaAverage for U.S. for 5-year period was $300/mt in NC and $305/mt across all of U.S.

Recommendation • North Carolina Soybeans • Are competitively priced • Are higher quality • Are from the largest production in Southeast • Are relatively unknown • Do not need expensive and congested rail to get to the port • Specify in contracts under origin: • Southeast North Carolina buyers option

NC Soy Quality, Supply and Pricing