Connection Winter 2015 | Page 9

ADVANCE TRADING INC. 11/10/15 2015 October USDA Estimate 13.555 3.888 0.574 13.3 Corn Soybeans Sorghum Cotton Soybeans Corn Wheat Sorghum Cotton Oct 14/15 Carryout 0.191 1.731 0.753 0.018 3.7 Corn Production Corn Imports Corn Stocks Soybean Imports World Coarse Grain Prod World Coarse Grain Stocks FSU Coarse Grain Prod World Corn Prod World Corn Stocks Argentina Corn Brazil Corn World Wheat Prod World Wheat Stocks European Union Wheat FSU-12 Wheat Australia Wheat Canada Wheat Argentina Wheat World Soybean Prod World Soybean Stocks Brazil Soybeans Argentina Soybeans USDA Crop Production 2015 Nov Average of 2015 Nov Range of Analysts’ Estimates Analysts’ Estimates 13.564 13.380-13.678 3.914 3.895-3.955 NA NA 13.1 13.0-13.3 USDA Grain, Oilseed, Cotton Carryout Nov 14/15 Oct 15/16 15/16 November Carryout Carryout Avg. Analyst Est 0.191 0.425 0.435 1.731 1.561 1.597 0.753 0.861 0.869 0.018 0.042 NA 3.7 3.1 3.25 2015 Nov USDA Crop Estimate 13.654 3.981 0.594 13.3 15/16 Nov Range of Analysts’ Estimates 0.353-0.476 1.461-1.702 0.761-0.914 NA 2.9-4.1 USDA China Production, Exports, Imports October 14/15 November 14/15 October 15/16 Estimate Estimate Estimate 215.7 225.0 215.7 5.7 3.0 5.5 81.7 90.6 100.5 77.0 79.0 78.4 USDA World Production, Ending Stocks Oct 14/15 Est Nov 14/15 Est Oct 15/16 Est 1297.4 1267.2 1297.0 231.2 222.9 243.1 91.4 85.8 91.7 1008.7 972.6 1008.8 196.0 187.8 208.2 26.5 24.0 26.5 85.0 80.0 85.0 725.5 732.8 725.1 212.1 228.5 211.7 156.5 155.3 156.5 112.7 117.5 112.7 23.7 27.0 23.7 29.4 26.0 29.4 12.5 10.5 12.5 319.0 320.5 318.7 78.0 85.1 77.6 96.2 100.0 96.2 60.8 57.0 60.8 Nov 15/16 Carryout 0.465 1.760 0.911 0.058 3.1 November 15/16 Estimate 225.0 3.0 114.4 80.5 Nov 15/16 Est 1269.6 247.2 83.2 974.9 211.9 25.6 81.5 733.0 227.3 157.3 117.0 26.0 26.0 10.5 321.0 82.9 100.0 57.0 This material is a solicitation to enter into a derivatives transaction. The information and data contained herein have been obtained from sources believed to be reliable but Advance Trading Inc. ("Advance") does not warrant their accuracy or completeness. Recommendations and opinions contained herein reflect the judgment of Advance as of the date hereof, are subject to change, and are based on certain assumptions, only some of which are noted herein. Different assumptions could yield substantially different results. You are cautioned that there is no universally accepted method for analyzing financial instruments. Advance does not guarantee any results and there is no guarantee as to the liquidity of the instruments involved in our analysis. Advance, its affiliates, and its and their officers, directors, and employees may sell or purchase, for their own account or for customers, positions in futures, options or other instruments which may be similar or different from the positions referred to herein. As a matter of policy, Advance does not give tax, accounting, regulatory or legal advice to clients. Clients therefore