INTL FCStone Inc.www.intlfcstone.comNASDAQ “INTL”

I CONGRESO NACIONAL DE PRODUCTORES PORCICOLAS

Perspectiva de los Precios de los Granos

Ricardo GarciaSr. Risk Management Consultant

División Latinoamérica

MAIZ

División América Latina

CONDICION CULTIVO

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

OFERTA/DEMANDA MUNDIAL DE MAÍZ, USDA (mtm)- Octubre 2012

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

- 6.7

- 2.1

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Mundial

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Mundial Maiz

$

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

OFERTA/DEMANDA EUA DE MAÍZ USDA (mb)- Octubre 2012

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

EUA

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

ZONAS PRODUCTORAS

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

EUA

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

EUA

Oferta y Demanda Mundial Maíz USDA Octubre 2012

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

ZONAS PRODUCTORAS

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

ZONAS PRODUCTORAS

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

MAIZ-BRASIL

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

MAIZ-ARGENTINA

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

MIAZ-CHINA

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Futuro Maíz continuo

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

OLEAGINOSAS

División América Latina

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Oferta y Demanda Mundial Fríjol SoyaUSDA Octubre 2012 (mtm)

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Mundial

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Mundial-Frijol de Soya

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Análisis Fundamental EUA – Oferta y Demanda Fríjol Soya

USDA Octubre 2012

(Millones de-) Acres Has Acres Has Acres Has Acres HasSup. Sembrada 77.4 31.32 75 30.35 76.1 30.80 77.2 31.24Sup. Cosechada 76.6 31.00 73.8 29.87 74.6 30.19 75.7 30.64

Bu/Acre TM/Ha Bu/Acre TM/Ha Bu/Acre TM/Ha Bu/Acre TM/Ha43.5 2.93 41.9 2.82 35.3 2.37 37.8 2.54

(Millones de-) Bu MTM Bu MTM Bu MTM Bu MTMInv. Inicial 151 4.11 215 5.85 130 3.54 169 4.60

Producción 3329 90.60 3094 84.20 2634 71.69 2860 77.84Importaciones 14 0.38 16 0.44 20 0.54 20 0.54

Disponible 3495 95.12 3325 90.49 2785 75.80 3050 83.01

Extracción 1648 44.85 1703 46.35 1500 40.82 1540 41.91Exportaciones 1501 40.85 1360 37.01 1055 28.71 1265 34.43

Semilla 87 2.37 90 2.45 89 2.42 89 2.42Residual 43 1.17 2 0.05 25 0.68 26 0.71

Uso Total 3280 89.27 3155 85.87 2670 72.67 2920 79.47

Inv. Final 215 5.85 169 4.60 115 3.13 130 3.54

Indice Inv fin/uso

Oct2011/12 Est. Sep

Rendimiento

2010/11

4.45%6.55% 5.36% 4.31%

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

SOYA-EUA

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Oferta y Demanda Mundial Fríjol Soya USDA Octubre 2012

2010/112011/12

Est.Sep Oct 2010/11

2011/12 Est.

Sep Oct 2010/112011/12

Est.Sep Oct

MTM MTM MTM MTM MTM MTM MTM MTM MTM MTM MTM MTMInv. Inicial 16.64 22.89 13.99 13.48 22.28 22.87 18.47 18.94 13.26 14.56 14.91 14.74 Producción 75.50 66.50 81.00 81.00 49.00 41.00 55.00 55.00 15.10 13.50 12.60 12.60

Importaciones 0.04 0.10 0.25 0.25 0.01 - - - 52.34 58.00 59.50 61.00 Disponible 92.18 89.49 95.24 94.73 71.29 63.87 73.47 73.94 80.70 86.06 87.01 88.34

Molienda 36.33 36.70 36.80 36.80 37.61 35.73 38.20 38.70 55.00 60.07 63.90 64.20 Exportaciones 29.95 36.32 39.10 37.40 9.21 7.60 13.50 12.00 0.19 0.25 0.25 0.25

Uso Total 39.33 39.70 39.89 39.89 39.21 37.33 39.85 40.35 65.95 71.07 75.02 75.32

Inv. Final 22.89 13.48 16.25 17.44 22.87 18.94 20.12 21.59 14.56 14.74 11.74 12.77

BRASIL ARGENTINA CHINA

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

SOYA-BRASIL

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

SOYA-ARGENTINA

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

SOYA-CHINA

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Futuro Frijol de soya continuo

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Futuro Frijol de (Detalle)

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Oferta y Demanda Mundial de Harina de Soya (mtm) 10/2012

2010/11 2011/12 Est. 2012/13 Proj. Sep 2012/13 Proj. OctMTM MTM MTMT MTM

Inv. Inicial 6.7 8.9 9.2 9.1Producción 174.5 178.3 179.1 180.7Importaciones 56.4 57.6 58.0 58.4

Disponible 237.5 244.8 246.3 248.2

Uso Doméstico 170.0 176.3 178.6 179.5Exportaciones 58.6 59.4 60.3 60.6

Uso Total 228.6 235.7 238.9 240.1

Inv. Final 8.9 9.1 7.4 8.1

Inv fin/uso 3.91% 3.88% 3.09% 3.38%

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Mundial

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Producción Harina de Soya Mundial

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Oferta y Demanda Harina de Soya EUA

2010/11 2011/12 Est. 2012/13 Proj. Sep 2012/13 Proj. OctMiles de Ton Cortas Miles de Ton Cortas Miles de Ton Cortas Miles de Ton Cortas

Inv. Inicial 302 350 300 300

Producción 39,251 41,240 35,700 36,700 Importaciones 180 210 300 300

Disponible 39,732 41,800 36,300 37,300

Uso Doméstico 30,301 31,900 29,200 29,500 Exportaciones 9,081 9,600 6,800 7,500 Uso Total 39,382 41,500 36,000 37,000

Inv. Final 350 300 300 300

Inv fin/uso 0.89% 0.72% 0.83% 0.81%

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Producción Harina de Soya EUA (mtm)

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

NOPA - Harina de Soya EUA Uso y Exportación – Septiembre 2012 (Tc)

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Mundial-Harina de Soya

2010/112011/12

Est.Sep Oct 2010/11

2011/12 Est.

Sep Oct2011/12

Est.Sep Oct

MTM MTM MTM MTM MTM MTM MTM MTM MTM MTM MTMInv. Inicial 2.16 2.89 2.88 2.58 1.79 2.76 3.11 3.21 0.55 0.22 0.22 Producción 28.16 28.44 28.52 28.52 29.31 27.83 29.80 30.15 8.96 8.71 8.71

Importaciones 0.06 0.04 0.05 0.05 - - - - 21.20 21.90 11.26 Disponible 30.38 31.37 31.45 31.15 31.10 30.59 32.91 33.36 30.71 30.83 20.19

Uso Doméstico 13.50 14.00 14.40 14.40 0.72 0.76 0.77 0.77 29.71 30.06 30.06 Exportaciones 13.99 14.78 14.50 14.50 27.62 26.63 30.10 29.76 0.78 0.55 0.55

Uso Total 27.49 28.78 28.90 28.90 28.34 27.39 30.87 30.53 30.49 30.61 30.61

Inv. Final 2.89 2.58 2.55 2.25 2.76 3.21 2.04 2.83 0.22 0.21 0.21 Inv fin/uso 10.5% 9.0% 8.8% 7.8% 9.7% 11.7% 6.6% 9.3% 0.7% 0.7% 0.7%

BRASIL ARGENTINA EU-27

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Producción Harina de Soya Argentina (mtm)

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Exportación Harina de Soya Argentina (mtm)

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Producción Harina de Soya Brasil (mtm)

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Exportación Harina de Soya Brasil (mtm)

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Futuro Harina de Soya continuo

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Precio Pasta de Soya, (Detalle)

TRIGO

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

CAMBIOS EN EL REPORTE DEOCTUBRE

Oferta/Demanda Mundial De TrigoUSDA OCTUBRE 2012 (mtm)

Sep OctMTM MTM MTM

Inv. Inicial 200.7 197.9 198.6 198.2

Producción 652.0 695.7 658.7 653.1Importaciones 131.7 147.8 135.4 135.0

Disponible 984.3 1041.4 992.8 986.2

Exportaciones 132.5 156.5 134.8 130.9Forraje 116.5 144.4 132.1 134.5

Uso Total 654.7 695.5 680.7 678.2

Inv. Final 197.9 198.2 176.7 173.0

Inv fin/uso 30.23% 28.49% 25.96% 25.51%

2010/112012/13 Proj. 2011/12

Est.

-0.4-5.6-0.4

-6.4

-4.02.4

-3.7

-2.5

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Producción Mundial

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

OFERTA Y DEMANDA E INVENTARIOS MUNDIALES

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Análisis Fundamental EUA – Oferta y Demanda de Trigo

USDA OCTUBRE 2012

(Millones de-) Acres Has Acres Has Has HasSup. Sembrada 53.60 21.69 54.40 22.02 22.66 22.54 Sup. Cosechada 47.60 19.26 45.70 18.49 19.75 19.83

Bu/Acre TM/Ha Bu/Acre TM/Ha TM/Ha TM/Ha46.30 3.11 43.70 2.94 3.13 3.11 Bu MTM Bu MTM MTM MTM

Inventario Inicial 976 26.56 862 23.46 20.22 20.22 Producción 2,207 60.06 1,999 54.40 61.72 61.75 Importaciones 97 2.64 112 3.05 3.54 3.54 Disponible 3,280 89.27 2,973 80.91 85.48 85.51

Alimento 926 25.20 941 25.61 25.85 25.85 Semilla 71 1.93 76 2.07 1.99 1.99 Forrajero y Residual 132 3.59 164 4.46 5.99 8.57 Exportaciones 1,289 35.08 1,050 28.58 32.66 31.30

Uso Total 2,417 65.78 2,231 60.72 66.49 67.71

Inv. Final 863 23.49 742 20.19 19.00 17.80 Inv fin/uso

Rendimiento

2010/11 2011/12 Est. 2012/13 Proj.

Sep Oct

35.71% 33.26% 26.29%28.57%

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Inventarios/Uso EUA

Ex Unión Soviética -12

2010/112011/12

Est. Sep Oct2010/11

2011/12 Est. Sep Oct

MTM MTM MTM MTM MTM MTM MTM MTMInv. Inicial 14.72 13.74 10.44 10.44 2.36 3.34 5.18 5.16 Producción 41.51 56.23 39.00 38.00 16.84 22.12 15.50 15.50

Importaciones 0.09 0.10 0.50 1.00 0.04 0.08 0.10 0.10 Disponible 56.32 70.07 49.94 49.44 19.24 25.54 20.78 20.76

Uso Forrajero 16.00 15.50 13.50 13.00 2.80 6.10 3.80 3.80 Exportaciones 3.98 21.63 8.00 9.00 4.30 5.44 4.00 4.00

Uso Total 38.60 38.00 35.50 35.00 2.80 14.95 12.30 12.30

Inv. Final 13.74 10.44 6.44 5.44 3.34 5.16 4.48 4.46

RUSIA UCRANIA

Ucrania no registra cambios significativos

Ex Unión Soviética -12

2010/112011/12

Est. Sep Oct2010/11

2011/12 Est. Sep Oct

MTM MTM MTM MTM MTM MTM MTM MTMInv. Inicial 4.30 2.88 6.63 6.63 25.84 23.64 26.56 26.60 Producción 9.64 22.73 10.50 10.50 81.06 114.42 78.96 77.71

Importaciones 0.01 0.01 0.01 0.01 5.66 7.57 6.09 6.51 Disponible 13.95 25.62 17.14 17.14 112.56 145.63 111.61 110.82

Uso Forrajero 1.90 2.60 2.20 2.20 23.73 27.53 22.83 22.28 Exportaciones 4.86 11.39 7.00 7.00 13.88 39.28 19.61 20.61

Uso Total 6.20 7.60 7.00 7.00 23.73 79.76 73.96 73.36

Inv. Final 2.88 6.63 3.14 3.14 23.64 26.60 18.05 16.86

KAZAKHSTAN FSU-12

Kazakistán sin cambios este mes

Ex Unión Soviética

Rusia

Kazakistán

Ucrania

AUSTRALIA

2010/112011/12

Est. Sep OctMTM MTM MTM MTM

Inv. Inicial 5.59 8.34 7.72 6.26 Producción 27.41 29.52 26.00 23.00

Importaciones 0.12 0.12 0.12 0.12 Disponible 33.12 37.98 33.84 29.38

Uso Forrajero 3.00 3.50 3.50 3.30 Exportaciones 18.66 25.00 21.00 18.00

Uso Total 6.13 6.73 6.74 6.54

Inv. Final 8.34 6.26 6.10 4.84

AUSTRALIA

-3.0

-3.0

-1.46

-1.26

Oferta y Demanda Argentina

2010/112011/12

Est. Sep OctMTM MTM MTM MTM

Inv. Inicial 2.34 4.11 0.56 0.96 Producción 17.20 15.50 11.50 11.50

Importaciones 0.01 0.01 0.01 0.01 Disponible 19.55 19.62 12.07 12.47

Uso Forrajero 0.10 0.10 0.10 0.10 Exportaciones 9.49 12.70 5.50 5.50

Uso Total 0.10 5.95 6.00 6.00

Inv. Final 4.11 0.96 0.57 0.97

ARGENTINA

+0.4

+0.4

Argentina

Argentina

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Futuro Trigo Chicago continuo

ACEITES VEGETALES

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Aceites Vegetales

Oferta & Demanda Mundial de Aceite de SoyaUSDA Octubre 2012 (mtm)

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Sep Octmtm mtm mtm mtm

Inv. Inicial 3.3 3.6 3.4 3.6

Producción 41.3 42.2 42.3 42.7Importaciones 9.2 8.1 8.0 8.2

Disponible 53.8 53.8 53.7 54.4

Uso Doméstico 40.7 41.8 43.1 43.6Exportaciones 9.5 8.4 8.4 8.5

Uso Total 50.2 50.2 51.5 52.1

Inv. Final 3.6 3.6 2.2 2.4

Indice Inv fin/uso 7.11% 7.09% 4.29% 4.51%

2010/11 2011/12 Est.

2012/13 Proj.

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Uso Mundial de Aceite de Soya USDA Octubre 2012 (mtm)

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EUA – Aceite de Soya Oferta & Demanda USDA Octubre 2012 (mln/lb)

2010/11 2011/12 Est. Sep Octm/lbs m/lbs m/lbs m/lbs

Inv. Inicial 3,406 2,425 2,720 2,620

Producción 18,888 19,795 17,145 17,600 Importaciones 159 150 195 350

Disponible 22,453 22,370 20,060 20,570

Uso Doméstico 16,795 18,300 17,600 18,100 Exportaciones 3,233 1,450 1,200 1,200

Uso Total 20,028 19,750 18,800 19,300

Inv. Final 2,425 2,620 1,260 1,270

Inv fin/uso 12.11% 13.27% 7% 7%

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

EUA – Producción y Uso Aceite de Soya USDA Octubre 2012 (mln/lb)

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Inventario Excedente Aceite de Soya EUA – USDA Octubre 2012

Brasil– Aceite de Soya Oferta & DemandaUSDA Octubre 2012 (mtm)

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

2010/11 2011/12

Proj.Sep Oct 2010/11

2011/12 Proj.

Sep Oct

MTM MTM MTM MTM MTM MTM MTM MTMInv. Inicial 0.20 0.30 0.32 0.27 0.29 0.40 0.33 0.33 Producción 7.18 6.82 7.30 7.38 6.97 7.04 7.06 7.06

Importaciones - - - - - - - - Disponible 7.38 7.12 7.62 7.65 7.26 7.44 7.39 7.39

Exportaciones 4.56 3.83 4.07 4.07 1.67 1.85 1.70 1.73 Uso Total 2.52 3.02 3.27 3.32 5.19 5.26 5.37 5.37

Inv. Final 0.30 0.27 0.28 0.26 0.40 0.33 0.32 0.30

MTM MTM MTM MTM MTM MTM MTM MTMInv. Inicial 0.32 0.27 0.19 0.16 0.21 0.20 0.32 0.42 Producción 2.24 2.08 2.02 2.02 9.84 10.75 11.44 11.49

Importaciones 0.91 0.45 0.50 0.50 1.32 1.30 1.30 1.30 Disponible 3.47 2.80 2.71 2.68 11.37 12.25 13.06 13.21

Exportaciones 0.46 0.62 0.35 0.42 0.05 0.06 0.06 0.06 Uso Total 2.74 2.02 2.24 2.10 11.11 11.77 12.66 12.70

Inv. Final 0.27 0.16 0.12 0.16 0.20 0.42 0.34 0.45

CHINA

ARGENTINA BRASIL

UE-27

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Uso e Importación de Aceite de Soya en China - USDA Octubre 2012 (mtm)

Precios Históricos de Aceite de Soya

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Precios Históricos Aceite de Palma

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“Perspectiva de los Precios

de los Granos”

Factores que continuarán afectando el comportamiento del precio en los commodities

agrícolas

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

Factores Críticos

• Rendimientos Maíz y Soya en USA• Mandato de Combustibles Renovables• Producción Sudamericana (Clima Brasil y Argentina)• Crecimiento/Desaceleración de la economía China• Economía Europea y Estados Unidos• Superficie de siembra 2013/14• Actividad Exportadora de Trigos del Mar Negro• Contracción de la demanda de granos y volatilidad

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.

FCStone LatinoaméricaRicardo García

ricardo.garcia@intlfcstone.com

001-800-220-1903