1. ADVANTAGES OF U.S. SOYBEAN MEAL IN DOMESTIC FEED RATIONS

2. AMINO ACID PROFILE  High levels of amino acids  Balance well with cereal grains

3. AMINO ACID Digestibility  Lysine typically estimated at 85% digestible  Similar high digestibility levels for other amino acids, like threonine

4. Other NUTRITIONAL CHARACTERISTICS  Energy  Minerals  Vitamins

5. NUTRITIONAL VALUE PROPOSITION  Extensively used in livestock feeds  Delivers nutrients critical to:  Animal health  Performance  Cost Competitive

6. AVAILABILITY  60 domestic soybean processing plants  Consistent product  Geographic and weather diversity

7. RELIABILITY  Consistency  Everyday known product quality  Easily formulated

8. HEDGEABILITY  Traded in large volumes  Known and relatively predictable price relationships  Can reduce risk of ingredient exposure

9. QUALITY/ CLAIMS PROCESS  Trade rules ensure protein, fiber and moisture values  Reductions in quality are offset financially

10. TRANSPORTATION DIVERSITY  Multiple delivery means  Consistent and timely  Reduced overbuying  Less lead-time  Less freight expense  Truck, rail or barge

11. TRANSPORTATION DIVERSITY  Multiple rail lines  Various size cars  Can increase usable storage space

12. GRIND  Ground by processor  Used without additional expense  Facilitates blending and bulk bin utilization  Minimizes dust and fines  Specific grind characteristics possible

13. MOISTURE  Consistent moisture  Increased or decreased moisture possible

14. FLOWABILITY  Eases feed manufacturing  Enables delivery of a more consistent feed  Lowers feed production costs

15. PLANT QUALITY Adjustments Many soybean meal traits can be adjusted:  Moisture and grind  Protein and fiber  Flow coating agents  Toasting  Color  Digestibility  Palatability

16. SUSTAINABILITY  Proven track record  Improved sustainability:  Reduced weed control  Less fuel  More no-till  Improved land rotation and yield

17. MARKET DRIVEN  Relatively low- or no-subsidy crop  World supply and demand are the primary determinants of the final value

18. “ALL VEGETABLE” Considerations  All-vegetable product  "All Natural" and "Vegetable Diet" labels are increasing  Many consumers are willing to pay more for these products.

19. Soybean checkoff support of animal agriculture:  Enhance soybeans  Improve soybean meal  Emphasize the economic importance of animal agriculture  Increase meat and poultry exports  Provide reliable, third-party educational information about today’s food system U.S. SOYBEAN Industry Support

20. U.S. SOYBEAN Industry Support When we "value add" it is good for the entire value chain  Farmers  Truckers  Livestock Producers  Processors  Seed Technology Companies  Consumers

21. WORKING CONTINUOUSLY To Improve  Improve quality of current soybean crop  Create environment that rewards better processing  Develop and commercialize new trait-enhanced soybeans

22. THANK YOU www.soymeal.org http://beyondtheelevator.com For additional information, please contact: Philip Lobo - plobo@smithbucklin.com 314-579-1582