1. 2008 Tasmanian Dairy Conference Grain Market Update October 2008 Amy Stokes – Rural Logic (Aust) P/L Burnie Tasmania

2. 2008 Tasmanian Dairy Conference Burnie Tasmania

3. 2008 Tasmanian Dairy Conference Burnie Tasmania Outline  International  Domestic  Tasmania  Grain Outlook 2008/09

4. 2008 Tasmanian Dairy Conference Burnie Tasmania International – World Wheat S & D

5. 2008 Tasmanian Dairy Conference Burnie Tasmania International – Wheat Futures Feb 2008

6. 2008 Tasmanian Dairy Conference Burnie Tasmania International – Corn (Feed Grain) June 2008

7. 2008 Tasmanian Dairy Conference Burnie Tasmania International - Canola/Soybeans – 2005-2008 July 08 Soybeans Canola

8. 2008 Tasmanian Dairy Conference Burnie Tasmania US Stocks to Use/Prices 2004-2009 04/505/606/707/808/909/0 Wheat21% $3.40 25% $3.42 20% $4.26 11% $7.25 24% $6.25 ?? Corn20% $2.06 17% $2.00 12% $3.04 12% $5.00 7% $6.00 7% $5.50 Soybean9% $5.91 16% $5.66 19% $6.43 4% $11.00 4% $12.00 5% $12.50 Summary - Wheat recovering, but feedgrains and oilseeds still tight

9. 2008 Tasmanian Dairy Conference Burnie Tasmania Domestic Production – S & D WA NT QLD SA NSW VIC TAS TAS Crop Forecast 2008/09 Wheat 20.8 MT Barley 7.4 MT Canola 1.3 MT Wheat 6.2 MT Wheat 1.7 MT Wheat 1.6 MT Wheat 3.1 MT Wheat 7.8 MT Source: NAB Oct 08 Track $ 285 FOB $ 32 Export $ 317 Track $ 288 FOB $ 40 Export $ 328 Track $ 288 FOB $ 44 Export $ 332 Track $ 290 FOB $ 44 Export $ 334 Track $ 300 FOB $ 44 Export $ 344

10. 2008 Tasmanian Dairy Conference Burnie Tasmania Domestic – Grain Prices del Melbourne 2002 & 2006 – local droughts 2007-8 – Export driven

11. 2008 Tasmanian Dairy Conference Burnie Tasmania

12. 2008 Tasmanian Dairy Conference Burnie Tasmania Tasmania  Quality & Supply  Freight & Fuel Levy  DPIE – IR 30 & Charges  TFES Scheme  FCL vs Bulk  Contracts – Spot vs Forward

13. 2008 Tasmanian Dairy Conference Burnie Tasmania Tasmania – Grain Pricing  Old CropDecember 08 Wheat & Barley availability – limited Protein – Tight supply  New CropJanuary 09 + Wheat MelbourneA $ 335 / MT Barley MelbourneA $ 280 / MT

14. 2008 Tasmanian Dairy Conference Burnie Tasmania Good Luck – Any Questions?