EXHIBIT 12 FARMLAND INDUSTRIES, INC. AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Year Ended August 31 1995 1996 1997 1998 1999 (Amounts in Thousands) Earnings: Pretax Income......................... $ 197,641 $ 155,754 $ 163,672 $ 55,025 $ 5,822 Minority Interest in Income of Consolidated Subsidiary 9,793 7,604 10,586 8,346 $ 17,727 Equity Interest in Loss (Income) of Investees (A).................. (623) 574 (868) (56,531) (65,510) Distributions from Investees (A)..................... -0- -0- 5 57,620 59,715 Total Fixed Charges (excluding interest capitalized)............. 68,271 76,658 79,247 94,960 113,611 Total Earnings............................. $ 275,082 $ 240,369 $ 250,740 $ 158,079 $ 131,365 Fixed Charges: Interest (including amounts capitalized and amortization of debt issuance costs).............. $ 55,497 $ 65,361 $ 68,099 $ 79,421 $ 93,686 Estimated Interest Component of Rentals........................ 13,494 12,926 15,127 19,483 19,925 Total Fixed Charges........................ $ 68,991 $ 78,287 $ 83,226 98,904 113,611 Ratio of Earnings to Fixed Charges......... 4.0 3.0 3.0 1.6 1.2 (A) Through 1997, equity interest and distributions shown represent less-than- 50%-owned Investees. Beginning with 1998, equity interest and distributions shown represent 50%-owned and less-than-50%-owned Investees.