Inventories

6 Months Ended

Jun. 30, 2014

5. INVENTORIES

Inventories are carried at the lower of cost or market, except grain held for sale and fair value hedged inventories, which are valued at market value. The components of inventories are as follows (in thousands):


	June 30,		December 31,
	2014		2013
Finished goods	$	45,063	$	56,664
Grain held for sale		10,399		23,782
Raw materials		49,507		51,726
Work-in-process		13,127		11,506
Supplies and parts		16,943		14,650
	$	135,039	$	158,328

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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