BIG RIVER NEWS

We have made a number of enhancements

to our facilities and overall safety program at Big River. This has included creating a safety committee comprised of key management from Big River and Agspring and performing critical drills. Safety requirements and practices, such as color coding the hard harts or vests of our staff based on tenure have been standardized across all facilities. At the Dunn location, for example, we are adding fall protection to the road load-out and we have completed replacing overhead tanks in Monticello.

Completing New Safety Measures

GRAIN RESCUE TUBESWe are pleased to announce that grain rescue tubes are now available at each of our locations and are available to the community at large when needed. Earlier this year, Big River hosted a series of grain elevator safety training days in cooperation with safety consultant and local first respond-ers. The well attended event featured demonstrations and training on currently available safety equipment and dealing with grain engulfments. Please contact your local elevator manager for more information on utilizing these grain rescue tubes.

PEOPLE NEWS

COMPANY NEWS

Training Day

BIG RIVER: FALL 2014

John Goetting has joined the organization as chief operating officer. “We are excited to add John’s strong combination of grain merchandising and logistics experience to Big River,” said Larry Tubbs, CEO of Big River Rice and Grain. “Our growers, customers and partners will benefit from his expertise as we continue to grow both our infrastructure and markets for our grain.”

Goetting brings more than two decades of past experi-ence in the grain markets with DeBruce Grain Inc. and Gavilon Grain including origi-nating, trading, and managing grain merchandising teams. Prior to joining Big River Rice and Grain, he managed two barge facilities and a trading platform at the Port of Catoosa, OK.

Fall 2014

Major Capital Projects

NEW COO JOINS BIG RIVER

Agspring has been very active so far this year including the formation of two new subsid-iaries. Thresher Artisan Wheat includes the acquisition of General Mills grain operations in Idaho. Thresher handles high-quality wheat for a num-ber of prominent consumer brands. The second new entity, Firebird Artisan Mills located in North Dakota, focuses on gluten-free flours and mixes for organizations such as consumer packaged goods companies and bakeries.agspring.com

AGSPRING ACTIVITIES

Over the past year since our formation as part of the Agspring family, Big River has

tackled a number of infrastructure projects across our regional footprint to upgrade the

efficiency and convenience of our facilities for both growers and partners.

Upgrades at Lake Providence have been focused on delivering increased operational speed

and space better enabling us to connect Northeast Louisiana and Southeast Arkansas to

new and broader market opportunities. Growers will be able to dump trucks fast since

IN THIS ISSUE

+ Completing New Safety Measures + Major Capital Projects+ Market Outlook+ People and Company News

BIG RIVER NEWS

Monticello

Dunn

PIONEER CORPORATE OFFICE7489 Hwy 588Pioneer, LA 71266West Carroll ParishP: 318-428-2439 | F: 318-428-4570

Larry Tubbs, CEO318-282-0562 [email protected]

Ron Miller, VP, Operations870-510-1299 [email protected]

John Goetting, COO318-282-8863 [email protected]

Jeremy Raley, Merchandising318-372-1978 [email protected]

PIONEER ELEVATOR C S W R7489 Hwy 588Pioneer, LA 71266 West Carroll Parish P: 318-428-8995

Kevin Tubbs 318-372-2777 [email protected]

DUNN C S W11 Hwy 609 Delhi, LA 71232Richland ParishP: 318-878-2065F: 318-878-9041

Matt Raley 318-282-9917 [email protected]

MONTICELLO C S W M683 Hwy 577 Lake Providence, LA 71254East Carroll ParishP: 318-552-8801F: 318-552-6463

John Larry Goode 318-282-8802 [email protected]

HOLLYBROOK C S W10971 US 65 Lake Providence, LA 71254 East Carroll Parish P: 318-559-2030

Bubba Richardson 318-816-0866 [email protected]

MER ROUGE C S W R8205 Mer Rouge-Collinston Rd. Mer Rouge, LA 71261Morehouse Parish P: 318-647-3730 | F: 318-647-5379

Steve Henderson 318-669-8626 [email protected]

PARKDALE C S W R2159 Hwy 165 South, Parkdale, AR 71661Ashley County P: 870-473-2281 | F: 870-473-2322

Angela Crow870-997-0790 [email protected]

EUDORA C S W R M5698 Hwy 65 SouthEudora, AR 71640Chicot County P: 870-355-5554 | F: 870-355-5559

Justin Johnson 870-510-0922 [email protected]

YELLOW BEND C S W112 Great River Rd.Arkansas City, AR 71630 Chicot/Desha County Main: 870-877-2300

Allen Evans 870-222-8830 [email protected]

CROWVILLE C S W888 Hwy 577 Crowville, LA 71230Franklin ParishP: 318-722-3217 | F: 318-722-6582

Matt Raley 318-282-9917 [email protected]

LAKE PROVIDENCE C S W501 Port Rd. Lake Providence, LA 71254East Carroll ParishP:318-559-2200 | F: 318-559-2200

Bubba Richardson 318-816-0866 [email protected]

PORTLAND C W R716 Hwy 165 NorthPortland, AR 71663 Ashley County

BIG RIVER CONTACTS

C = Corn S = Soybeans W = Wheat R = Rice M = Milo

Big River Rice & Grain 7489 Hwy 588 Pioneer, LA 71266318-428-2439

From INTL FCStone

The wheat market has bounced nearly $1.00 over the past six weeks

as fundamental and geopolitical have forced the funds to cover the

majority of their record short position. The funds are now only short -10k

contracts of Chicago wheat with funds buying over 40k the past month.

However, wheat fundamentals remain bearish as the global wheat supply

remains ample and it is questionable whether the wheat market can

continue to rally without the money flow pushing it. We can expect to see

a decrease in SRW acres in the Midwest as the slow bean harvest for

double crop beans and pushed many anticipated wheat acres past the

insurance plant dates. Also, the conflict between Russia and Ukraine

could continue to be an outside factor supporting the wheat markets,

although the rally has kept US wheat values un-competitive on the global

market. The large supply and low demand will make trade question

whether current price levels are sustainable. Producers should look at

pricing some new crop wheat at current levels and scaling up to $6.00 on

the WN to take advantage of the recent rally.

The rough rice market has been in an extremely strong downtrend

over the past few months as trade continues to process a big

increase in ending stocks from last year’s record crop. US rice

stocks are already 29% above last year’s stocks with another

large domestic rice crop. Total US rice supplies expected 10%

above last year and represents the second largest US rice supply

ever. Overall, with US long-rice expected to see the lowest prices since

2010/11, the producer should be aggressive about marketing their

rice crop.

BIG RIVER: FALL 2014

Crowville

Yellow Bend

Market Outlookwe’ve opened two new farm only lanes that

can receive 50,000 bushels per hour (BPH).

We’ve also added a 10,000 BPH dryer to

quickly and efficiently get your production to

market. Lake Providence also now features

increased space to continually receive

trucks at maximum capacity and smoothly

transition between commodities/crop types.

Lake Providence

Our Crowville facility benefits from an

overall facelift to improve convenience and

safety while enhancing operations. Added

speed and space will be apparent to grow-

ers through the new 5,000 BPH dryer and

2 million bushel ground pod with a 25,000

BPH receiving belt. Crowville now has a

new improved truck flow along with the

new offices, scales, entry and exit points.

This will provide a safe line-up space off

the main road.

Big River is proud to announce

the opening of our newest

location near McGhehee, AR.

The Yellow Bend facility is part

of our investments to improve

efficiency and flexibility for

our growers and supply chain

partners. Yellow Bend includes

a new scale and office as well

as the latest safety and opera-

tional systems.

The corn market has retraced over 100% of the move from the August

highs of $3.81 to the October lows of $3.18 ¼ and is now trading

at $3.85. The funds have been building a massive 200k contract

long in the corn market over the past few weeks in anticipation of

any plating concerns for the 2015/16 crop. Concerns have surfaced

over extreme cold and a foot of snow in the Northern Plains as there is

nearly 400M bu of unharvested corn. The corn market has now become more

concerned with money flow than fundamentals. On the November WASDE

report, the USDA pegged new crop carryout at 2.008B bu with a yield of

173.4 bu/acre. The carryout over

2B bu is a burdensome corn crop

to move; however with a possible

reduction in acreage by 3 million

acres and any weather concerns in

the spring, it could very well make

the 2015/16 ending stock situation

quite interesting. The market

has done a nice job incentivizing

producers to plant corn next year,

but at the same time with prices

almost $0.70 off the lows; it would

be prudent to have sell orders

above the market for new crop

hedges. Also, South

American farmers

have had planting

issues and we could

The soybean market has been a completely

different animal from both the corn and wheat

markets lately. The soybeans continue to

be driven by demand and technical factors

as trade seems unconcerned with the

fundamental picture. We have seen soybeans

rally almost $1.70 from the September

lows, despite an anticipated record 450M

bu carryout and it is wise to look at current

levels to lock in SX15 levels as we are starring

a large increase in bean acreage in both

hemispheres next year. Now, the main factor

driving the soy market has been demand,

almost solely dependent on China. Bean and

meal exports have been running at a record

pace with soybean sales 8% of last year with

soymeal sales running 20% ahead of last

year. The recent problem has been logistics

and once some transportation is freed up

to get beans to the processors, we should

see the entire soy market ease with record

production. Also, meal basis continues to sure

higher now at +75 Decatur as the pipeline

remains slow going. Crush margins are

running $3+ for processors and as a result

cash basis stays strong as processors are

willing to pay up for beans. However, soymeal

prices are over a $40 premium to South

American meal prices. Soybeans continue to

receive insatiable demand; however with a

record crop in 2014/15 and the potential for

another record crop with normal weather

in 2015/16, producers should be aggressive

marketing new crop beans because as

mentioned above, we could very well see SX15

futures below $9.

see Brazil’s Safrina corn acreage

down by 15-25%. If corn acres

continue to decline and bean acres

increase, the US corn picture could

change drastically and it would

be beneficial to continue to plant

corn acres as an increase in bean

acres in both the US and SA would

suggest sub $9.00 soybean futures.

The corn market has now become more concerned with money flow thanfundamentals.

Bean and meal exports have been running at a record pace with soybean sales 8% of last year with soymeal sales running20% ahead of last year.

Overall, with US long-rice expected to see the lowest prices since 2010/11, the producer should be aggressive about marketing their rice crop.

BIG RIVER NEWS

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