NET INCOME PER UNIT

6 Months Ended

Jul. 31, 2011

NET INCOME PER UNIT

NET INCOME PER UNIT

Note 2. Net income per unit includes accrued income receivable.  For the three months ended July 31, 2011 the Trust recorded $6,025,023 of accrued income receivable as reflected on the Condensed Balance Sheet as of July 31, 2011 (unaudited).  Accrued income receivable includes accruals for anticipated positive pricing adjustments and shipments during the month of July.   Accrued income receivable is accounted for and reported for the Trust’s second fiscal quarter even though such accrued income receivable is not available for distribution to Unitholders until it is actually received by the Trust.  Net income per unit is based on 13,120,010 units outstanding during the period.