Hereford Facility Corn Bid

Delivery Date	Basis Month	Cash Price	Basis	Futures Price
May '08	CK8	6.46	+.46	6.00
Jun '08	CN8	6.56	+.44	6.12
Jul '08	CN8	6.58	+.46	6.12
Aug '08	CU8	6.67	+.46	6.21
Sep '08	CU8	6.69	+.48	6.21
Oct '08	CZ8	6.66	+.38	6.28
Nov '08	CZ8	6.68	+.40	6.28
Dec '08	CZ8	6.70	+.42	6.28

All bids are subject to change without notice.

Contact

Tom Bright
(972) 361-1200
cornbid@pandaethanol.com