Inventories



	May 31, 2014		August 31, 2013		May 31, 2013
	(Dollars in thousands)
Grain and oilseed	$	1,227,913	$	1,133,555	$	1,344,265
Energy	719,261		742,194		682,528
Crop nutrients	207,946		293,370		237,487
Feed and farm supplies	561,975		407,023		564,424
Processed grain and oilseed	107,331		79,706		97,212
Other	13,447		8,887		11,726
Total inventories	$	2,837,873	$	2,664,735	$	2,937,642

As of May 31, 2014, we valued approximately 16% of inventories, primarily related to Energy, using the lower of cost, determined on the LIFO method, or market (16% and 14% as of August 31, 2013 and May 31, 2013, respectively). If the FIFO method of accounting had been used, inventories would have been higher than the reported amount by $569.8 million, $652.6 million and $535.8 million at May 31, 2014, August 31, 2013 and May 31, 2013, respectively. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Interim LIFO calculations are based on management's estimates of expected year-end inventory levels and costs, and are subject to the final year-end LIFO inventory valuation.