1. ACRE UPDATE Estimates as of February 9, 2010 Ron Haugen/Dwight Aakre Farm Management Specialists

2. Percent of FSA Farms and Base Acres Enrolled in ACRE, 2009 ACRE EnrollmentMNMTNDSD Percent of Farms641018 Percent of Base Acres10 1526 Illinois, Iowa, Nebraska, Oklahoma had 55.9% of total enrolled farms 2

3. Ranking of Base Acres Enrolled in ACRE and Percent of Base, 2009 Crop RankMN %MT %ND %SD % 1Corn - 11Wheat - 9Wheat - 13Corn - 26 2Soybeans - 12Barley - 11Soybeans - 38Wheat - 28 3Wheat - 7Corn - 32Soybeans - 26 3

4. CropMNMTNDSD payment per planted/considered planted acre Wheat$34.71$18.06$0.00$35.44 Barley$45.99$0.00$16.83$14.89 Oats$12.30$0.00$2.38$28.30 Corn$0.00 Sorghum$0.00 Soybeans$0.00$1.18$0.00 Dry Peas$35.02$6.54 Lentilsn/a$0.00 Large Chickpeasn/a$36.10$0.00 Small Chickpeasn/a$52.81$0.00$16.32 Sunflower57.84$30.66$24.26 Canola$0.00 Flaxseed$28.84$3.09$19.14$0.00 Mustard Safflower $0.00 Payment per planted acre is 83.3 percent of ACRE payment rate Blank cells have missing yield data Projected 2009 ACRE Payments by State by Crop as of February 9, 2010 4

5. NASS Monthly Wheat Prices and Historical Weights 2009/10 Month2006/072007/082008/09AveragePrice Jun16.0%12.0%11.4%13.1%$5.74 Jul18.5%27.1%21.8%22.5%$5.13 Aug12.6%18.7%14.9%15.4%$4.83 Sep6.9%9.4%7.8%8.0%$4.48 Oct9.1%4.5%3.8%5.8%$4.47 Nov4.8%3.8%3.2%3.9%$4.79 Dec6.8%5.9%6.9%6.5%$4.81 Jan8.2%7.8%7.4%7.8% $4.79 Feb5.1%3.9%4.3%4.4% Mar4.9%3.1%6.6%4.9% Apr4.2%2.0%5.3%3.8% May2.9%1.8%6.6%3.8% 5

6. NASS Monthly Corn Prices and Historical Weights 2009/10 Month2006/072007/082008/09AveragePrice Sep6.9%7.9%4.5%6.4%$3.25 Oct14.7%13.7%9.4%12.6%$3.61 Nov14.6%11.1%11.9%12.5%$3.65 Dec8.0%8.7%8.9%8.5%$3.59 Jan15.3%16.5%12.8%14.9% $3.45 Feb5.9%7.3%6.4%6.5% Mar6.6%7.5%9.6%7.9% Apr4.4%6.2%6.7%5.8% May4.7%4.6%9.1%6.1% Jun6.6%6.1%7.4%6.7% Jul6.2%6.4%6.9%6.5% Aug6.1%4.0%6.4%5.5% 6

7. NASS Monthly Soybean Prices and Historical Weights 2009/10 Month2006/072007/082008/09AveragePrice Sep5.6%10.4%4.5%6.8%$9.75 Oct19.9%21.1%9.4%16.8%$9.44 Nov10.2%10.7%11.9%10.9%$9.53 Dec8.8%8.2%8.9%8.6%$9.96 Jan15.1%17.3%12.8%15.1% $9.49 Feb6.8%7.3%6.4%6.8% Mar6.2%6.3%9.6%7.4% Apr5.1%4.8%6.7%5.5% May5.3%3.2%9.1%5.9% Jun6.2%4.4%7.4%6.0% Jul5.5%4.4%6.9%5.6% Aug5.3%1.9%6.4%4.5% 7

8. State Acre Guarantee 90% Times Benchmark State Yield (5-year Olympic average planted yield) Times ACRE Program Guarantee Price (2-year national average market price) Maximum change +/- 10% from previous year 8

9. Projected Price Guarantee for 2010 and Change from 2009 Estimated2009 2009/102010PricePercent Crop2008/09ForecastGuarantee Change Wheat$6.78$4.85$5.82$6.63-12.3% Barley$3.82$2.60$3.21$4.09-21.5% Oats$3.15$2.10$2.63$2.89-9.2% Corn$4.06$3.70$3.88$4.13-6.1% Sorghum$3.20$3.30$3.25$3.64-10.7% Soybeans$9.97$9.45$9.71$10.04-3.3% Dry Peas$13.40$8.75$11.08$13.25-16.4% Lentils$33.80$26.00$29.90 0.0% Large Chickpeas$33.40$30.40$31.90$31.700.6% Small Chickpeas$29.10$18.00$23.55$25.00-5.8% Sunflower$21.80$14.75$18.28$21.75-16.0% Canola$18.70$16.00$17.35$18.50-6.2% Flaxseed$12.70$7.75$10.23$12.85-20.4% Mustard$43.80$24.25$34.03$35.90-5.2% Safflower$24.80$20.00$22.40$21.703.2% 2009/10 Forecast prices based on Jan 12 USDA reports 9

10. Projected Yield Guarantee for 2010 and Change from 2009, North Dakota 2009Est 2010 State Percent CropYield Change Wheat35.3 0.0% Barley55.055.30.5% Oats56.056.30.5% Corn117.0119.72.3% Sorghum Soybeans31.532.22.2% Dry Peas18.2018.17-0.2% Lentils11.2011.230.3% Large Chickpeas14.2015.509.2% Small Chickpeas10.9013.5324.1% Sunflower13.3014.237.0% Canola14.0014.030.2% Flaxseed18.018.21.1% Mustard Safflower 2009/10 Forecast prices based on Jan 12 USDA reports 10

11. Estimated State Guarantee for 2010, North Dakota 2009Est. 20102010 State PercentMinimum CropGuarantee ChangeGuarantee Wheat$210.64$184.74-12.3%$189.58 Barley$202.21$159.76-21.0%$181.99 Oats$145.66$133.01-8.7%$131.09 Corn$434.36$417.99-3.8%$390.92 Sorghum$131.04$117.94 Soybeans$284.92$284.29-0.2%$256.43 Dry Peas$217.85$181.11-16.9%$196.07 Lentils$299.88$302.200.8%$269.89 Large Chickpeas$405.77$445.019.7%$365.19 Small Chickpeas$247.21$286.7716.0%$222.49 Sunflower$260.71$234.05-10.2%$234.64 Canola$234.05$219.08-6.4%$210.65 Flaxseed$208.98$167.49-19.9%$188.08 Mustard$168.12$151.31 Safflower$127.33 $114.60

12. 2010 ACRE/DCP Enrollment sign-up deadline is June 1, 2010 2009 ACRE Participants must report 2009 production by July 15, 2010 must certify benchmark farm yield by July 15, 2010 file FSA-658 12

13. NDSU Extension Service Farm Management Website http://www.ag.ndsu.nodak.edu/aginfo/farmmgmt/farmmgmt.htm Farm Service Agency ACRE Website http://www.fsa.usda.gov/dcp 13

14. Thank you, Any Questions? 14