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Inventories

12 Months Ended

Dec. 31, 2014

6. 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):



	December 31,
	2014		2013
Finished goods	$	34,639	$	56,664
Grain held for sale		23,027		23,782
Raw materials		78,095		51,726
Work-in-process		100,221		11,506
Supplies and parts		18,985		14,650
	$	254,967	$	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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