The Big Three Corn Wheat Soybeans Feed Grain Export Processing Wet Milling Dry Milling Wheat Flour Soybeans

Corn Wet Milling 2% Refining Loss 100 % 3 % 26 % 5% 64% 2 Clean and Inspected Corn 100 % Steep Tanks Steepwater Steepwater Evaporation Condensed Fermented Extractives 3 % Germ Germ Separation Germ Germ Extraction Crude Corn Oil Corn Germ Meal Grinding Mills 26 % Corn Gluten Feed Washing Screens 5% Centrifugal Separators Corn Gluten Meal Starch washing and Hydro clones Starch and Sweeteners 2% Refining Loss 64% 2

Corn Wet Milling Raw Material Inputs Production Outputs #2 Yellow Corn Corn Starch Corn Syrup HFCS Corn Sweetener Crude Corn Oil Dextrose Corn Gluten Meal Corn Gluten Feed 3

Corn Dry Milling 3% 66% 29% 2% Refining Loss 100 % 4 Germ Wet and Dry Cleaning Corn Corn Dry Milling 100 % 3% Germ Degerming Corn Oil Extraction Crude Corn Oil Reducing Rolls Reduce particle size Flaking Grits Throughstock Drying and Cooling 66% Sifter Brewers Grits Aspirator Air currents and sieves classify particles Grinding Sifter Corn Meal Corn Flour 29% Hominy Feed 2% Refining Loss 4

Corn Dry Milling Raw Material Inputs Production Outputs #2 Corn Masa Flour Hominy Feed Corn Meal Crude Corn Oil Corn Grits 5

Wheat Milling 83% 15% 100 % Bulk Flour Bagged Middlings Clean and Inspected Wheat 100 % Wheat Milling Separator Sticks & stones removed Bulk Magnet and Air Currents Iron, steel & Impurities removed Sifter Flour Bagged Tempering Water added to aid milling process 83% Purifier Air currents and sieves classify particles Entoleter Removes unsound wheat Middlings Reducing Rolls Reduce particle size further Grinding 15% First Break Passes corrugated rollers 2% Refining Loss 6

Wheat Millfeed (Middlings) Wheat Milling Raw Material Inputs Production Outputs Wheat Flour Wheat Millfeed (Middlings) Bags (historically) 7

Soybean Processing 100 % 7%or 0% Soy Millfeed 18% Soybean Oil Bulk Clean and Inspected Soybeans Soybean Processing 100 % 7%or 0% Drying Soy Millfeed Hulls ground into Millfeed Dehull Solvent Hexane Dehulled Soybeans Soybean Oil Extraction 18% Cracking Flaking Solvent/Oil/Wet Soybean Meal Mixture Distillation Bulk Desolventizing/ Toasting/ Drying/ Cooling Soybean Meal Bagged 73% or 80% 2% Refining Loss 8

Soybean Processing Raw Material Inputs Production Outputs Soybean Meal #2 Soybeans Soybean Millfeed Hexane Crude Soybean Oil Kaolin 9