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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>As
filed with the Securities and Exchange Commission on December&nbsp;15, 2006</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Registration No.&nbsp;333-</B>
</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>
<DIV align="center" style="font-size: 24pt; margin-top: 6pt"><B>US BioEnergy Corporation</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B><I>(Exact name of registrant as specified in its charter)</I></B></DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD align="center" valign="top"><B>South Dakota<BR>
(State or other jurisdiction of <BR>
incorporation or organization)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>20-1811472<BR>
(I.R.S. Employer<BR>
Identification No.)</B></TD>
</TR>
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</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>5500 Cenex Drive<BR>
Inver Grove Heights, MN 55077</B><BR>
<B><I>(Address of principal executive offices)</I></B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>US BIOENERGY CORPORATION 2006 STOCK INCENTIVE PLAN</B><BR>
<B><I>(Full title of the plan)</I></B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Gregory S. Schlicht<BR>
Vice President, General Counsel and Corporate Secretary<BR>
US BioEnergy Corporation<BR>
5500 Cenex Drive<BR>
Inver Grove Heights, MN 55077<BR>
(651)&nbsp;355-8300</B><BR>
<B><I>(Name and address, including zip code, and telephone number, including area code, of agent for service)</I></B>

</DIV>

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</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B><I>Copy to:</I></B><BR>
<B>Brian W. Duwe<BR>
Skadden, Arps, Slate, Meagher &#038; Flom LLP<BR>
333 West Wacker Drive<BR>
Chicago, IL 60606<BR>
(312)&nbsp;407-0700</B>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="1%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed </B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of each class of</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering price</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>aggregate</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registration</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>securities to be registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registered</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>per share</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering price</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>fee</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

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<TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common
stock, par value $0.01 per share</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">6,214,568</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" colspan="3" style="border-top: 2px solid #000000">$14.00</TD>


<TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" colspan="3" style="border-top: 2px solid #000000">$87,003,952</TD>

<TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD align="center" colspan="3" style="border-top: 2px solid #000000">$9,310</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

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</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Represents the maximum number of shares of common stock issuable under the US BioEnergy
Corporation 2006 Stock Incentive Plan.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Estimated solely for the purpose of determining the registration fee pursuant to Rule 457(h)
under the Securities Act of 1933, as amended, based on an assumed
price of $14.00 per share, which
on December&nbsp;14, 2006 was determined to be the initial public offering price for the
Registrant&#146;s common stock.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>











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<DIV style="font-family: 'Times New Roman',Times,serif">








<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1. Plan Information.</B>*
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Item&nbsp;2. Registrant Information and Employee Plan Annual Information.</B>*

</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 0pt">* The documents containing the information specified in Part&nbsp;I of Form S-8 will be sent or given
to employees as specified by Rule&nbsp;428(b)(1) of the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;). Such documents need not be filed with the Securities and Exchange Commission
(the &#147;SEC&#148;) either as part of this registration statement or as prospectuses or prospectus
supplements pursuant to Rule&nbsp;424 of the Securities Act. These documents and the documents
incorporated by reference in this registration statement pursuant to Item&nbsp;3 of Part&nbsp;II of this
registration statement, taken together, constitute a prospectus that meets the requirements of
Section 10(a) of the Securities Act.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents previously filed with the SEC by the Registrant are incorporated by
reference in this registration statement:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;the
Registrant&#146;s prospectus filed with the SEC on December&nbsp;15, 2006 pursuant to
Rule 424(b) under the Securities Act (the &#147;Prospectus&#148;) relating to the Registrant&#146;s registration
statement on Form S-1 (File No.&nbsp;333-136279); and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;the description of the Registrant&#146;s common stock, which is contained in the Registrant&#146;s
registration statement on Form 8-A filed with the SEC on December&nbsp;11, 2006 (File No.&nbsp;001-33203)
under the Securities and Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), including any
amendments or reports filed for the purpose of updating such description.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents subsequently filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c), 14 and
15(d) of the Exchange Act, prior to the filing of a post-effective amendment to this registration
statement which indicates that all securities offered have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated by reference in this
registration statement and to be part hereof from the date of filing of such documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any statement contained in a document incorporated or deemed to be incorporated by reference
in this registration statement shall be deemed to be modified or superseded for purposes of this
registration statement to the extent that a statement contained in this registration statement, or
in any other subsequently filed document that also is or is deemed to be incorporated by reference
in this registration statement, modifies or supersedes such prior
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">statement. Any statement contained in this registration statement shall be deemed to be
modified or superseded to the extent that a statement contained in a subsequently filed document
that is or is deemed to be incorporated by reference in this registration statement modifies or
supersedes such prior statement. Any statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this registration statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Registrant&#146;s amended and restated articles of incorporation (the &#147;Articles&#148;), and bylaws
require it to indemnify its officers and directors to the fullest extent permitted by applicable
law. The indemnification provisions of the South Dakota Business Corporation Act (the &#147;SDBCA&#148;) are
summarized as follows:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(a)&nbsp;The SDBCA permits the Registrant to indemnify an officer or director who is a party to
a proceeding by reason of being an officer or director against liability incurred in the
proceeding if the officer or director:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(1)&nbsp;acted in good faith; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(2)&nbsp;reasonably believed:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 9%">(i)&nbsp;in the case of conduct in an official capacity, that the conduct was in
the Registrant&#146;s best interests;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 9%">(ii)&nbsp;in all other cases, that the conduct was at least not opposed to
the Registrant&#146;s best interests; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(3)&nbsp;in the case of any criminal proceeding, had no reasonable cause to believe
the conduct was unlawful.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The termination of a proceeding by judgment, order, settlement, or conviction, or upon a
plea of nolo contendere or its equivalent, is not, of itself, determinative that the person
did not meet the relevant standard of conduct.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(b)&nbsp;The SDBCA further permits the Registrant to indemnify an officer or director against
liability to any person for any action taken, or any failure to take any action, as a
director or officer, except liability arising out of conduct that constitutes:
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(1)&nbsp;receipt of a financial benefit to which the officer or director is not entitled;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(2)&nbsp;an intentional infliction of harm on the Registrant or its shareholders; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(3)&nbsp;an intentional violation of criminal law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant also may not indemnify directors for liability arising out of unlawful
distributions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(c)&nbsp;The SDBCA does not permit the Registrant to indemnify an officer or director:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(1)&nbsp;in connection with a proceeding by or in the right of the corporation, except
for reasonable expenses incurred in connection with the proceeding if it is
determined that the officer or director has met the relevant standard of conduct,
discussed in (a)&nbsp;above; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(2)&nbsp;in connection with any proceeding with respect to conduct for which the officer
or director was adjudged liable on the basis that the officer or director received a
financial benefit to which the officer or director was not entitled, whether or not
involving action in his or her official capacity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(d)&nbsp;Under the SDBCA, the Registrant may pay for or reimburse the reasonable expenses
incurred in defending a proceeding in advance of the final disposition thereof if the
officer or director receiving the advance delivers to the Registrant: (1)&nbsp;a written
affirmation of the officer&#146;s or director&#146;s good faith belief that he or she has met the
relevant standard of conduct; and (2)&nbsp;a written undertaking to repay the advance if it is
ultimately determined that such person was not entitled to indemnification or did not meet
the standard of conduct.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(e)&nbsp;Under the SDBCA, the Registrant may not indemnify an officer or director in respect of
a proceeding described in (a)&nbsp;or (b)&nbsp;above unless it is first determined that
indemnification is permissible because the person has met the relevant standard of conduct.
Such determination shall be made:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(1)&nbsp;if there are two or more disinterested directors, by the board of directors, by
a majority vote of all the disinterested directors, a majority of whom shall
constitute a quorum for such purpose, or by a majority of the members of a committee
of two or more disinterested directors that is appointed by a majority of the
disinterested directors;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(2)&nbsp;by special legal counsel:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 9%">(i)&nbsp;selected in the manner prescribed by (1)&nbsp;above; or
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 9%">(ii)&nbsp;if there are fewer than two disinterested directors, selected by the
board of directors, in which selection directors who do not qualify as
disinterested directors may participate; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">(3)&nbsp;by the shareholders, but shares owned by or voted under the control of a
director who at the time does not qualify as a disinterested director may not be
voted.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Authorization of the indemnification shall be made in the same manner as the determination
that indemnification is permissible. However, if there are fewer than two disinterested
directors or if the determination is made by special legal counsel, authorization of
indemnification shall be made by those entitled to select special legal counsel.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Indemnification can also be ordered by a court if the court determines that indemnification
is fair and reasonable to indemnify the officer or director. Notwithstanding the foregoing,
every officer or director who has been wholly successful, on the merits or otherwise, in
defense of a proceeding described in (a)&nbsp;or (b)&nbsp;above is entitled to be indemnified as a
matter of right against reasonable expenses incurred in connection with the proceeding.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The Registrant&#146;s Articles also contain a provision that limits the liability of its
directors for money damages to the fullest extent permitted by South Dakota law. The SDBCA
permits a corporation to provide that its directors will not be liable to the corporation or
its shareholders for monetary damages for any action taken, or the failure to take any
action, as directors, except for liability:
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="8%"></TD>
    <TD width="4%"></TD>
    <TD width="88"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="right"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>for the amount of a financial benefit received by a director to which the
director is not entitled;</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="right"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>an intentional infliction of harm on the corporation or its shareholders;</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="right"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>a violation of Section&nbsp;47-1A-833 of the Act (relating to unlawful
distributions); or</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="right"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>an intentional violation of criminal law.</TD>
</TR>

</TABLE>




<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">In addition, under the SDBCA, the Registrant&#146;s directors are not liable to it or its
shareholders for any decision to take or not to take action, or any failure to take action,
as a director, unless it can be established that the provisions described in the immediately
preceding paragraph do not preclude such liability and that the challenged conduct was the
result of:
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="8%"></TD>
    <TD width="4%"></TD>
    <TD width="88"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="right"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>action not in good faith;</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="right"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>a decision which the director did not reasonably believe to be in the
Registrant&#146;s best interests or as to which the director was not properly
informed;</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">





<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="8%"></TD>
    <TD width="4%"></TD>
    <TD width="88"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="right"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>a lack of objectivity due to the director&#146;s familial, financial, or business
relationship with, or a lack of independence due to the director&#146;s domination
or control by, another person having a material interest in the challenged
conduct;</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="right"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>a sustained failure of the director to devote attention to ongoing oversight
of the business and affairs of the corporation, or a failure to devote timely
attention, by making, or causing to be made, appropriate inquiry; or</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="right"><FONT face="Wingdings">&#216;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>receipt of a financial benefit to which the director was not entitled or any
other breach of the director&#146;s duties to deal fairly with the Registrant or its
shareholders that is actionable under applicable law.</TD>
</TR>

</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Registrant also has directors&#146; and officers&#146; liability insurance coverage which insures its
directors and officers against specific liabilities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits.</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="82%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen common stock certificate (incorporated by reference to Exhibit&nbsp;No.
4.1 of the Registration Statement on Form&nbsp;S-1 (File No.&nbsp;333-136279)).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Subscription Agreement, dated November&nbsp;17, 2005, between US BioEnergy
Corporation and CHS Inc. (incorporated by reference to Exhibit&nbsp;No.&nbsp;4.2 of
the Registration Statement on Form&nbsp;S-1 (File No.&nbsp;333-136279)).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Registration Rights Agreement, dated April&nbsp;28, 2006, between US BioEnergy
Corporation and Platte Valley Energy, LLC (incorporated by reference to
Exhibit&nbsp;No.&nbsp;4.3 of the Registration Statement on Form&nbsp;S-1 (File No.
333-136279)).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Shareholders&#146; Agreement.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Second Amended and Restated Articles of Incorporation.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">4.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Second Amended and Restated Bylaws.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">4.7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US BioEnergy Corporation 2006 Stock
Incentive Plan.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Davenport, Evans, Hurwitz &#038; Smith, LLP.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="82%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of McGladrey &#038; Pullen,
LLP, independent registered public accounting firm, relating to the
consolidated financial statements of US BioEnergy Corporation, United Bio
Energy, LLC, Platte Valley Fuel Ethanol, LLC and US BioWoodbury, LLC
(formerly Superior Corn Products, LLC).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Kennedy and Coe, LLC, independent auditors, relating to the
consolidated financial statements of United Bio Energy, LLC and ICM
Marketing, Inc.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">23.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Christianson &#038; Associates, PLLP, independent auditors, relating
to the financial statements of Superior Corn Products LLC.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">23.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Davenport, Evans, Hurwitz &#038; Smith, LLP (included in Exhibit&nbsp;5.1).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on the
signature page).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned registrant hereby undertakes:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by section 10(a)(3) of the Securities
Act of 1933;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the registration statement. Notwithstanding
the foregoing, any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which was registered)
and any deviation from the low or high end of the estimated maximum offering range
may be reflected in the form of prospectus filed with the Commission pursuant to
Rule 424(b) if, in the aggregate, the changes in volume and price represent no more
than a 20% change in the maximum aggregate offering price set forth in the
&#147;Calculation of Registration Fee&#148; table in the effective registration statement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any material
change to such information in the registration statement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if
the information required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed with or furnished to the Commission by
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of
1934 that are incorporated by reference in the registration statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act of
1933, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial <I>bona fide </I>offering thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant&#146;s annual report pursuant
to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable,
each filing of an employee benefit plan&#146;s annual report pursuant to section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Act and is, therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred or paid by a
director, officer or controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with
the securities being registered, the registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the city of Brookings, State of South
Dakota, on December&nbsp;15,
2006.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">US BIOENERGY CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/
GORDON W. OMMEN</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Gordon W. Ommen&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>POWER OF ATTORNEY</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We, the undersigned officers and directors of US BioEnergy Corporation, hereby severally constitute
and appoint Gordon W. Ommen and Richard K. Atkinson, and each of them acting alone, our true and
lawful attorneys-in-fact and agents, with full power of substitution and resubstitution in each of
them for him and in his name, place, and stead, and in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this registration statement and to file the
same, with all exhibits thereto and other documents in connection therewith, with the Securities
and Exchange Commission and any applicable securities exchange or securities self-regulatory body,
granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do
and perform each and every act and thing requisite or necessary to be done in and about the
premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying
and confirming all that said attorneys-in-fact and agents or any of them or their or his substitute
or substitutes may lawfully do or cause to be done by virtue hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Act of 1933, this registration statement has been
signed by the following persons in the capacities indicated on
December&nbsp;15, 2006.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="69%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
GORDON W. OMMEN</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Executive Officer, Chairman of the Board of
Directors (Principal Executive Officer)&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Gordon W. Ommen</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
RICHARD K. ATKINSON</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Senior Vice President and Chief Financial Officer
(Principal Financial Officer)&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Richard K. Atkinson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>



<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
VIRG G. GARBERS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Corporate Controller (Principal Accounting Officer)&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Virg G. Garbers
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="69%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
JAMES E. DAUWALTER
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
James E. Dauwalter
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
JAY D. DEBERTIN
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Jay D. Debertin
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
JENNIFER A. JOHNSON
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Jennifer A. Johnson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
JAMES B. MORGAN
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
James B. Morgan
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
CLIFFORD F. MESNER
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Clifford F. Mesner
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/
MARK A. RUELLE
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Mark A. Ruelle
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen common stock certificate (incorporated by reference to Exhibit&nbsp;No.
4.1 of the Registration Statement on Form&nbsp;S-1 (File No.&nbsp;333-136279)).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Subscription Agreement, dated November&nbsp;17, 2005, between US BioEnergy
Corporation and CHS Inc. (incorporated by reference to Exhibit&nbsp;No.&nbsp;4.2 of
the Registration Statement on Form&nbsp;S-1 (File No.&nbsp;333-136279)).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Registration Rights Agreement, dated April&nbsp;28, 2006, between US BioEnergy
Corporation and Platte Valley Energy, LLC (incorporated by reference to
Exhibit&nbsp;No.&nbsp;4.3 of the Registration Statement on Form&nbsp;S-1 (File No.
333-136279)).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Shareholders&#146; Agreement.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Second Amended and Restated Articles of Incorporation.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">4.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Second Amended and Restated Bylaws.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">4.7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US BioEnergy Corporation 2006 Stock
Incentive Plan.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Davenport, Evans, Hurwitz &#038; Smith, LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:22px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of McGladrey &#038; Pullen,
LLP, independent registered public accounting firm, relating to the
consolidated financial statements of US BioEnergy Corporation, United Bio
Energy, LLC, Platte Valley Fuel Ethanol, LLC and US BioWoodbury, LLC
(formerly Superior Corn Products, LLC).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:22px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Kennedy and Coe, LLC, independent auditors, relating to the
consolidated financial statements of United Bio Energy, LLC and ICM
Marketing, Inc.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:22px; text-indent:-0px">23.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Christianson &#038; Associates, PLLP, independent auditors, relating
to the financial statements of Superior Corn Products LLC.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:22px; text-indent:-0px">23.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Davenport, Evans, Hurwitz &#038; Smith, LLP (included in Exhibit&nbsp;5.1).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:22px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on the
signature page).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
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sv8
As
filed with the Securities and Exchange Commission on December 15, 2006
Registration No. 333-
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
US BioEnergy Corporation
(Exact name of registrant as specified in its charter)
South Dakota
(State or other jurisdiction of
incorporation or organization)
20-1811472
(I.R.S. Employer
Identification No.)
5500 Cenex Drive
Inver Grove Heights, MN 55077
(Address of principal executive offices)
US BIOENERGY CORPORATION 2006 STOCK INCENTIVE PLAN
(Full title of the plan)
Gregory S. Schlicht
Vice President, General Counsel and Corporate Secretary
US BioEnergy Corporation
5500 Cenex Drive
Inver Grove Heights, MN 55077
(651) 355-8300
(Name and address, including zip code, and telephone number, including area code, of agent for service)
Copy to:
Brian W. Duwe
Skadden, Arps, Slate, Meagher & Flom LLP
333 West Wacker Drive
Chicago, IL 60606
(312) 407-0700
CALCULATION OF REGISTRATION FEE
Proposed
Proposed
maximum
maximum
Amount of
Title of each class of
Amount to be
offering price
aggregate
registration
securities to be registered
registered
(1)
per share
(2)
offering price
(2)
fee
Common
stock, par value $0.01 per share
6,214,568
$14.00
$87,003,952
$9,310
(1)
Represents the maximum number of shares of common stock issuable under the US BioEnergy
Corporation 2006 Stock Incentive Plan.
(2)
Estimated solely for the purpose of determining the registration fee pursuant to Rule 457(h)
under the Securities Act of 1933, as amended, based on an assumed
price of $14.00 per share, which
on December 14, 2006 was determined to be the initial public offering price for the
Registrant's common stock.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1. Plan Information.
*
Item 2. Registrant Information and Employee Plan Annual Information.
*
* The documents containing the information specified in Part I of Form S-8 will be sent or given
to employees as specified by Rule 428(b)(1) of the Securities Act of 1933, as amended (the
"Securities Act"). Such documents need not be filed with the Securities and Exchange Commission
(the "SEC") either as part of this registration statement or as prospectuses or prospectus
supplements pursuant to Rule 424 of the Securities Act. These documents and the documents
incorporated by reference in this registration statement pursuant to Item 3 of Part II of this
registration statement, taken together, constitute a prospectus that meets the requirements of
Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents previously filed with the SEC by the Registrant are incorporated by
reference in this registration statement:
(a) the
Registrant's prospectus filed with the SEC on December 15, 2006 pursuant to
Rule 424(b) under the Securities Act (the "Prospectus") relating to the Registrant's registration
statement on Form S-1 (File No. 333-136279); and
(b) the description of the Registrant's common stock, which is contained in the Registrant's
registration statement on Form 8-A filed with the SEC on December 11, 2006 (File No. 001-33203)
under the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), including any
amendments or reports filed for the purpose of updating such description.
All documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and
15(d) of the Exchange Act, prior to the filing of a post-effective amendment to this registration
statement which indicates that all securities offered have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be incorporated by reference in this
registration statement and to be part hereof from the date of filing of such documents.
Any statement contained in a document incorporated or deemed to be incorporated by reference
in this registration statement shall be deemed to be modified or superseded for purposes of this
registration statement to the extent that a statement contained in this registration statement, or
in any other subsequently filed document that also is or is deemed to be incorporated by reference
in this registration statement, modifies or supersedes such prior
statement. Any statement contained in this registration statement shall be deemed to be
modified or superseded to the extent that a statement contained in a subsequently filed document
that is or is deemed to be incorporated by reference in this registration statement modifies or
supersedes such prior statement. Any statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this registration statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
The Registrant's amended and restated articles of incorporation (the "Articles"), and bylaws
require it to indemnify its officers and directors to the fullest extent permitted by applicable
law. The indemnification provisions of the South Dakota Business Corporation Act (the "SDBCA") are
summarized as follows:
(a) The SDBCA permits the Registrant to indemnify an officer or director who is a party to
a proceeding by reason of being an officer or director against liability incurred in the
proceeding if the officer or director:
(1) acted in good faith; and
(2) reasonably believed:
(i) in the case of conduct in an official capacity, that the conduct was in
the Registrant's best interests;
(ii) in all other cases, that the conduct was at least not opposed to
the Registrant's best interests; and
(3) in the case of any criminal proceeding, had no reasonable cause to believe
the conduct was unlawful.
The termination of a proceeding by judgment, order, settlement, or conviction, or upon a
plea of nolo contendere or its equivalent, is not, of itself, determinative that the person
did not meet the relevant standard of conduct.
(b) The SDBCA further permits the Registrant to indemnify an officer or director against
liability to any person for any action taken, or any failure to take any action, as a
director or officer, except liability arising out of conduct that constitutes:
(1) receipt of a financial benefit to which the officer or director is not entitled;
(2) an intentional infliction of harm on the Registrant or its shareholders; or
(3) an intentional violation of criminal law.
The Registrant also may not indemnify directors for liability arising out of unlawful
distributions.
(c) The SDBCA does not permit the Registrant to indemnify an officer or director:
(1) in connection with a proceeding by or in the right of the corporation, except
for reasonable expenses incurred in connection with the proceeding if it is
determined that the officer or director has met the relevant standard of conduct,
discussed in (a) above; or
(2) in connection with any proceeding with respect to conduct for which the officer
or director was adjudged liable on the basis that the officer or director received a
financial benefit to which the officer or director was not entitled, whether or not
involving action in his or her official capacity.
(d) Under the SDBCA, the Registrant may pay for or reimburse the reasonable expenses
incurred in defending a proceeding in advance of the final disposition thereof if the
officer or director receiving the advance delivers to the Registrant: (1) a written
affirmation of the officer's or director's good faith belief that he or she has met the
relevant standard of conduct; and (2) a written undertaking to repay the advance if it is
ultimately determined that such person was not entitled to indemnification or did not meet
the standard of conduct.
(e) Under the SDBCA, the Registrant may not indemnify an officer or director in respect of
a proceeding described in (a) or (b) above unless it is first determined that
indemnification is permissible because the person has met the relevant standard of conduct.
Such determination shall be made:
(1) if there are two or more disinterested directors, by the board of directors, by
a majority vote of all the disinterested directors, a majority of whom shall
constitute a quorum for such purpose, or by a majority of the members of a committee
of two or more disinterested directors that is appointed by a majority of the
disinterested directors;
(2) by special legal counsel:
(i) selected in the manner prescribed by (1) above; or
(ii) if there are fewer than two disinterested directors, selected by the
board of directors, in which selection directors who do not qualify as
disinterested directors may participate; or
(3) by the shareholders, but shares owned by or voted under the control of a
director who at the time does not qualify as a disinterested director may not be
voted.
Authorization of the indemnification shall be made in the same manner as the determination
that indemnification is permissible. However, if there are fewer than two disinterested
directors or if the determination is made by special legal counsel, authorization of
indemnification shall be made by those entitled to select special legal counsel.
Indemnification can also be ordered by a court if the court determines that indemnification
is fair and reasonable to indemnify the officer or director. Notwithstanding the foregoing,
every officer or director who has been wholly successful, on the merits or otherwise, in
defense of a proceeding described in (a) or (b) above is entitled to be indemnified as a
matter of right against reasonable expenses incurred in connection with the proceeding.
The Registrant's Articles also contain a provision that limits the liability of its
directors for money damages to the fullest extent permitted by South Dakota law. The SDBCA
permits a corporation to provide that its directors will not be liable to the corporation or
its shareholders for monetary damages for any action taken, or the failure to take any
action, as directors, except for liability:
Ø
for the amount of a financial benefit received by a director to which the
director is not entitled;
Ø
an intentional infliction of harm on the corporation or its shareholders;
Ø
a violation of Section 47-1A-833 of the Act (relating to unlawful
distributions); or
Ø
an intentional violation of criminal law.
In addition, under the SDBCA, the Registrant's directors are not liable to it or its
shareholders for any decision to take or not to take action, or any failure to take action,
as a director, unless it can be established that the provisions described in the immediately
preceding paragraph do not preclude such liability and that the challenged conduct was the
result of:
Ø
action not in good faith;
Ø
a decision which the director did not reasonably believe to be in the
Registrant's best interests or as to which the director was not properly
informed;
Ø
a lack of objectivity due to the director's familial, financial, or business
relationship with, or a lack of independence due to the director's domination
or control by, another person having a material interest in the challenged
conduct;
Ø
a sustained failure of the director to devote attention to ongoing oversight
of the business and affairs of the corporation, or a failure to devote timely
attention, by making, or causing to be made, appropriate inquiry; or
Ø
receipt of a financial benefit to which the director was not entitled or any
other breach of the director's duties to deal fairly with the Registrant or its
shareholders that is actionable under applicable law.
The Registrant also has directors' and officers' liability insurance coverage which insures its
directors and officers against specific liabilities.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
Exhibit
No.
Description
4.1
Specimen common stock certificate (incorporated by reference to Exhibit No.
4.1 of the Registration Statement on Form S-1 (File No. 333-136279)).
4.2
Subscription Agreement, dated November 17, 2005, between US BioEnergy
Corporation and CHS Inc. (incorporated by reference to Exhibit No. 4.2 of
the Registration Statement on Form S-1 (File No. 333-136279)).
4.3
Registration Rights Agreement, dated April 28, 2006, between US BioEnergy
Corporation and Platte Valley Energy, LLC (incorporated by reference to
Exhibit No. 4.3 of the Registration Statement on Form S-1 (File No.
333-136279)).
4.4
Form of Shareholders' Agreement.
4.5
Second Amended and Restated Articles of Incorporation.
4.6
Second Amended and Restated Bylaws.
4.7
US BioEnergy Corporation 2006 Stock
Incentive Plan.
5.1
Opinion of Davenport, Evans, Hurwitz & Smith, LLP.
Exhibit
No.
Description
23.1
Consent of McGladrey & Pullen,
LLP, independent registered public accounting firm, relating to the
consolidated financial statements of US BioEnergy Corporation, United Bio
Energy, LLC, Platte Valley Fuel Ethanol, LLC and US BioWoodbury, LLC
(formerly Superior Corn Products, LLC).
23.2
Consent of Kennedy and Coe, LLC, independent auditors, relating to the
consolidated financial statements of United Bio Energy, LLC and ICM
Marketing, Inc.
23.3
Consent of Christianson & Associates, PLLP, independent auditors, relating
to the financial statements of Superior Corn Products LLC.
23.4
Consent of Davenport, Evans, Hurwitz & Smith, LLP (included in Exhibit 5.1).
24.1
Power of Attorney (included on the
signature page).
Item 9. Undertakings.
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:
(i) To include any prospectus required by section 10(a)(3) of the Securities
Act of 1933;
(ii) To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the registration statement. Notwithstanding
the foregoing, any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which was registered)
and any deviation from the low or high end of the estimated maximum offering range
may be reflected in the form of prospectus filed with the Commission pursuant to
Rule 424(b) if, in the aggregate, the changes in volume and price represent no more
than a 20% change in the maximum aggregate offering price set forth in the
"Calculation of Registration Fee" table in the effective registration statement;
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any material
change to such information in the registration statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if
the information required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed with or furnished to the Commission by
the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of
1934 that are incorporated by reference in the registration statement.
(2) That, for the purpose of determining any liability under the Securities Act of
1933, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial
bona fide
offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant
to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable,
each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Act and is, therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred or paid by a
director, officer or controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with
the securities being registered, the registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the city of Brookings, State of South
Dakota, on December 15,
2006.
US BIOENERGY CORPORATION
By:
/s/
GORDON W. OMMEN
Name:
Gordon W. Ommen
Title:
Chief Executive Officer
POWER OF ATTORNEY
We, the undersigned officers and directors of US BioEnergy Corporation, hereby severally constitute
and appoint Gordon W. Ommen and Richard K. Atkinson, and each of them acting alone, our true and
lawful attorneys-in-fact and agents, with full power of substitution and resubstitution in each of
them for him and in his name, place, and stead, and in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this registration statement and to file the
same, with all exhibits thereto and other documents in connection therewith, with the Securities
and Exchange Commission and any applicable securities exchange or securities self-regulatory body,
granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do
and perform each and every act and thing requisite or necessary to be done in and about the
premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying
and confirming all that said attorneys-in-fact and agents or any of them or their or his substitute
or substitutes may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been
signed by the following persons in the capacities indicated on
December 15, 2006.
Signature
Title
/s/
GORDON W. OMMEN
Chief Executive Officer, Chairman of the Board of
Directors (Principal Executive Officer)
Gordon W. Ommen
/s/
RICHARD K. ATKINSON
Senior Vice President and Chief Financial Officer
(Principal Financial Officer)
Richard K. Atkinson
/s/
VIRG G. GARBERS
Corporate Controller (Principal Accounting Officer)
Virg G. Garbers
Signature
Title
/s/
JAMES E. DAUWALTER
Director
James E. Dauwalter
/s/
JAY D. DEBERTIN
Director
Jay D. Debertin
/s/
JENNIFER A. JOHNSON
Director
Jennifer A. Johnson
/s/
JAMES B. MORGAN
Director
James B. Morgan
/s/
CLIFFORD F. MESNER
Director
Clifford F. Mesner
/s/
MARK A. RUELLE
Director
Mark A. Ruelle
EXHIBIT INDEX
Exhibit
No.
Description
4.1
Specimen common stock certificate (incorporated by reference to Exhibit No.
4.1 of the Registration Statement on Form S-1 (File No. 333-136279)).
4.2
Subscription Agreement, dated November 17, 2005, between US BioEnergy
Corporation and CHS Inc. (incorporated by reference to Exhibit No. 4.2 of
the Registration Statement on Form S-1 (File No. 333-136279)).
4.3
Registration Rights Agreement, dated April 28, 2006, between US BioEnergy
Corporation and Platte Valley Energy, LLC (incorporated by reference to
Exhibit No. 4.3 of the Registration Statement on Form S-1 (File No.
333-136279)).
4.4
Form of Shareholders' Agreement.
4.5
Second Amended and Restated Articles of Incorporation.
4.6
Second Amended and Restated Bylaws.
4.7
US BioEnergy Corporation 2006 Stock
Incentive Plan.
5.1
Opinion of Davenport, Evans, Hurwitz & Smith, LLP.
23.1
Consent of McGladrey & Pullen,
LLP, independent registered public accounting firm, relating to the
consolidated financial statements of US BioEnergy Corporation, United Bio
Energy, LLC, Platte Valley Fuel Ethanol, LLC and US BioWoodbury, LLC
(formerly Superior Corn Products, LLC).
23.2
Consent of Kennedy and Coe, LLC, independent auditors, relating to the
consolidated financial statements of United Bio Energy, LLC and ICM
Marketing, Inc.
23.3
Consent of Christianson & Associates, PLLP, independent auditors, relating
to the financial statements of Superior Corn Products LLC.
23.4
Consent of Davenport, Evans, Hurwitz & Smith, LLP (included in Exhibit 5.1).
24.1
Power of Attorney (included on the
signature page).