UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549

                            FORM 10-K
(Mark One)
[ X ]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
       SECURITIES EXCHANGE ACT OF 1934

       For the fiscal year ended December 31, 2009

                               OR
[   ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
       THE SECURITIES EXCHANGE ACT OF 1934

       For the transition period from _______________ to ________________

                    Commission file number: 1-3390

                       SEABOARD CORPORATION
     (Exact name of registrant as specified in its charter)

                   Delaware                            04-2260388
       (State or other jurisdiction of     (I.R.S. Employer Identification No.)
        incorporation or organization)

       9000 W. 67th Street, Shawnee Mission, Kansas    66202
         (Address of principal executive offices)    (Zip Code)

                         (913) 676-8800
      (Registrant's telephone number, including area code)

   SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

          Title of each class          Name of each exchange on which registered
      Common Stock $1.00 Par Value               NYSE Amex Equities

   SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:

                               None
                        (Title of class)

Indicate by check mark if the registrant is a well-known seasoned
issuer, as defined in Rule 405 of the Securities Act. Yes [   ]
No [ X ]

Indicate by check mark if the registrant is not required to file
reports pursuant to Section 13 or 15(d) of the Act. Yes [   ]  No
[ X ]

Indicate  by check mark whether the registrant (1) has filed  all
reports  required  to be filed by Section  13  or  15(d)  of  the
Securities  Exchange Act of 1934 during the preceding  12  months
(or  for such shorter period that the registrant was required  to
file  such  reports),  and (2) has been subject  to  such  filing
requirements for the past 90 days.  Yes [ X ]  No [   ]

Indicate  by  check  mark  whether the registrant  has  submitted
electronically  and posted on its corporate  Web  site,  if  any,
every  Interactive Data File required to be submitted and  posted
pursuant  to Rule 405 of Regulation S-T (section  232.405 of this
chapter)  during  the  preceding  12 months  (or for such shorter
period that  the  registrant was required to submit and post such
files).  Yes [   ]  No [   ]

Indicate  by  check  mark  if  disclosure  of  delinquent  filers
pursuant  to Item 405 of Regulation S-K is not contained  herein,
and will not be contained, to the best of registrant's knowledge,
in  definitive  proxy or information statements  incorporated  by
reference in Part III of this Form 10-K or any amendment to  this
Form 10-K.  [   ]

Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer,
or a smaller reporting company.  See the definitions of "larger
accelerated filer," "accelerated filer" and "smaller reporting
company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer [   ]          Accelerated filer [ X ]

Non-accelerated filer [   ](Do not check if a smaller reporting company)

                                       Smaller reporting company [   ]

Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Act). Yes [   ]  No [X ]

The  aggregate  market value of the 330,026  shares  of  Seaboard
common    stock   held   by   nonaffiliates   was   approximately
$360,388,392, based on the closing price of $1,092.00  per  share
on July 2, 2009, the end of Seaboard's second fiscal quarter.  As
of  February  5,  2010,  the number of  shares  of  common  stock
outstanding was 1,235,582.

               DOCUMENTS INCORPORATED BY REFERENCE

Portions of the following documents are incorporated by reference
into   the   indicated  parts  of  this  report:   (1)   Seaboard
Corporation's  Annual  Report to Stockholders  furnished  to  the
Commission  pursuant to Rule 14a-3(b) - Parts I and II;  and  (2)
Seaboard  Corporation's definitive proxy statement filed pursuant
to  Regulation 14A for the 2010 annual meeting of stockholders  -
Part III.

<PAGE>

Forward-Looking Statements

This  report,  including information included or incorporated  by
reference   in  this  report,  contains  certain  forward-looking
statements  with respect to the financial condition,  results  of
operations, plans, objectives, future performance and business of
Seaboard  Corporation and its subsidiaries (Seaboard).   Forward-
looking statements generally may be identified as:

  -  statements that are not historical in nature, and

  -  statements  preceded  by, followed by  or  that  include  the
     words   "believes,"  "expects,"  "may,"  "will,"   "should,"
     "could,"  "anticipates," "estimates," "intends"  or  similar
     expressions.

In  more  specific  terms,  forward-looking  statements  include,
without limitation:

  -  statements  concerning the projection of revenues, income  or
     loss,  capital  expenditures,  capital  structure  or  other
     financial items,

  -  statements  regarding the plans and objectives of  management
     for future operations,

  -  statements of future economic performance,

  -  statements   regarding   the  intent,   belief   or   current
     expectations of Seaboard and its management with respect to:

     (i)    Seaboard's   ability to obtain adequate  financing  and
            liquidity,

     (ii)   the price  of feed stocks and other materials  used  by
            Seaboard,

     (iii)  the sale  price or market conditions for  pork, grains,
            sugar and other products and services,

     (iv)   statements   concerning  management's  expectations  of
            recorded tax effects under certain circumstances,

     (v)    the volume of business and working capital requirements
            associated with the competitive trading environment for
            the Commodity Trading and Milling division ,

     (vi)   the charter hire rates and fuel prices for vessels,

     (vii)  the stability of the Dominican Republic's economy, fuel
            cost and related spot market prices and collections  of
            receivables in the Dominican Republic,

     (viii) the   ability   of  Seaboard   to  sell  certain  grain
            inventories in foreign  countries at current cost basis
            and the related contract performance by customers,

     (ix)   the  effect  of  the  fluctuation  in  foreign currency
            exchange rates,

     (x)    statements  concerning profitability or sales volume of
            any of Seaboard's divisions,

     (xi)   the  anticipated  costs  and completion  timetable  for
            Seaboard's scheduled capital improvements, acquisitions
            and dispositions,

     (xii)  the impact from the H1N1 flu incident on the demand and
            overall market prices for pork products, or

     (xiii) other  trends  affecting Seaboard's financial condition
            or  results  of  operations,  and  statements   of  the
            assumptions  underlying  or  relating  to  any  of  the
            foregoing statements.

This   list  of  forward-looking  statements  is  not  exclusive.
Seaboard  undertakes no obligation to publicly update  or  revise
any  forward-looking  statement,  whether  as  a  result  of  new
information, future events, changes in assumptions or  otherwise.
Forward-looking   statements  are  not   guarantees   of   future
performance  or  results.  They involve risks, uncertainties  and
assumptions.   Actual  results may differ materially  from  those
contemplated by the forward-looking statements due to  a  variety
of  factors.  The information contained in this Form 10-K and  in
other  filings  Seaboard  makes with  the  Commission,  including
without  limitation,  the information under  the  headings  "Risk
Factors"  and  "Management's Discussion and Analysis of Financial
Condition   and  Results  of  Operations"  in  this  Form   10-K,
identifies important factors which could cause such differences.

<PAGE> 2

                              PART I

Item 1.  Business

(a)  General Development of Business

Seaboard  Corporation, a Delaware corporation, and its subsidiaries
(Seaboard)   is   a  diversified  international  agribusiness   and
transportation  company.   In  the  United  States,   Seaboard   is
primarily  engaged  in  pork production and processing,  and  ocean
transportation.   Overseas,  Seaboard  is  primarily   engaged   in
commodity  merchandising, grain processing, sugar  production,  and
electric  power  generation.  See Item 1(c)  (1)  (ii)  "Status  of
Product  or  Segment"  below  for  a  discussion  of  acquisitions,
dispositions and other developments in specific divisions.

Seaboard  Flour  LLC  and  SFC  Preferred  LLC,   Delaware  limited
liability  companies,  own  approximately  72.3  percent   of   the
outstanding  common  stock  of Seaboard.   Mr.  Steven  J.  Bresky,
President  and  Chief  Executive Officer  of  Seaboard,  and  other
members  of the Bresky family, including trusts created  for  their
benefit,  own  the  common  units of Seaboard  Flour  LLC  and  SFC
Preferred LLC.

(b)  Financial Information about Industry Segments

The financial information relating to Industry Segments required by
Item 1 of Form 10-K is incorporated herein by reference to Note  13
of  the  Consolidated Financial Statements appearing  on  pages  55
through   59   of  the  Seaboard  Corporation  Annual   Report   to
Stockholders furnished to the Commission pursuant to Rule  14a-3(b)
and attached as Exhibit 13 to this Report.

(c)  Narrative Description of Business

  (1)  Business Done and Intended to be Done by the Registrant

     (i)  Principal Products and Services

     Pork  Division  -  Seaboard, through its  subsidiary  Seaboard
     Foods LLC engages in the businesses of hog production and pork
     processing  in  the United States.  Through these  operations,
     Seaboard produces and sells fresh and frozen pork products  to
     further  processors,  foodservice operators,  grocery  stores,
     distributors and retail outlets throughout the United  States.
     Internationally,  Seaboard  sells  to  these  same  types   of
     customers  in Japan, Mexico and other foreign markets.   Other
     further  processing companies also purchase  Seaboard's  fresh
     and frozen pork products in bulk and produce products, such as
     lunchmeat,  ham,  bacon, and sausage.   Fresh  pork,  such  as
     loins,  tenderloins  and  ribs are sold  to  distributors  and
     grocery  stores.  Seaboard also sells further  processed  pork
     products consisting primarily of raw and pre-cooked bacon from
     its  two bacon further processing plants.  Seaboard sells some
     of  its fresh products under the brand name Prairie Freshr and
     its  bacon  and  other further processed  products  under  the
     Daily'sr  brand  name.   Seaboard's hog  processing  plant  is
     located  in  Guymon, Oklahoma, and operates  at  double  shift
     capacity.   Seaboard's bacon plants are located in  Salt  Lake
     City,  Utah and Missoula, Montana.  Seaboard also earns  fees,
     based primarily on the number of head processed, to market all
     of  the  products produced by Triumph Foods LLC at their  pork
     processing plant located in St. Joseph, Missouri.

     Seaboard's  hog production operations consist of the  breeding
     and  raising  of  approximately 4.0 million hogs  annually  at
     facilities primarily owned or at facilities owned and operated
     by  third parties with whom it has grower contracts.  The  hog
     production  operations are located in the States of  Oklahoma,
     Kansas,  Texas and Colorado.  As a part of the hog  production
     operations,  Seaboard produces specially formulated  feed  for
     the  hogs  at  six  owned  feed  mills.   The  remaining  hogs
     processed  are  purchased  from  third  party  hog  producers,
     primarily pursuant to purchase contracts.

     Seaboard produces biodiesel at a facility in Guymon, Oklahoma.
     The biodiesel is produced from pork fat from Seaboard's Guymon
     pork  processing  plant and from animal fat supplied  by  non-
     Seaboard  facilities.  The biodiesel is sold to third parties.
     The  facility  can also produce biodiesel from vegetable  oil.
     Seaboard  is able to reduce or stop production when  it  isn't
     economically feasible to produce based on input costs  or  the
     price   of   biodiesel.   During  2009,   Seaboard   completed
     construction  of  and  began operations at  a  ham-boning  and
     processing plant in Mexico.

     Commodity  Trading and Milling Division - Seaboard's Commodity
     Trading   and   Milling   Division,  primarily   through   its
     subsidiaries,  Seaboard  Overseas Limited  based  in  Bermuda,
     Seaboard Overseas Trading and Shipping  (PTY), Ltd. located in
     South  Africa, SeaRice Limited located in Geneva,  Switzerland
     and SeaRice Carribean located in Miami, Florida markets wheat,
     corn, soybean meal, rice and other similar commodities in bulk
     to  third  party  customers and affiliated  companies.   These
     commodities are purchased from most growing regions worldwide,
     with primary destinations being Africa, South America, and the
     Caribbean.   The  division  sources,  transports  and  markets

<PAGE> 3

     up  to  approximately  4.0  to 4.5 million tons of grains  and
     proteins on an annual basis.  Seaboard integrates the  service
     of delivering commodities to its customers through the use  of
     chartered bulk vessels and its eight owned bulk carriers.

     This  division  also  operates milling and related  businesses
     with  24  locations  in  12  countries,  which  are  primarily
     supplied by the trading locations discussed above.  The  grain
     processing  businesses are operated through four  consolidated
     and  nine non-consolidated affiliates in Africa, the Caribbean
     and  South  America.  These are flour, feed and maize  milling
     businesses which produce approximately two and a half  million
     metric  tons  of  finished products per  year.   Most  of  the
     products  produced by the milling operations are sold  in  the
     countries in which the products are produced or into  adjacent
     countries.

     Marine  Division - Seaboard, through its subsidiary,  Seaboard
     Marine  Ltd.,  and  various foreign affiliated  companies  and
     third  party  agents,  provides containerized  cargo  shipping
     service  to  25  countries  between  the  United  States,  the
     Caribbean Basin, and Central and South America.  Seaboard uses
     a  network of offices and agents throughout the United States,
     Canada,  Latin America and the Caribbean Basin  to  book  both
     northbound and southbound cargo to and from the United  States
     and  between the countries it serves.  Through agreements with
     a network of connecting carriers, Seaboard can transport cargo
     to and from numerous U.S. locations by either truck or rail to
     and  from  one of its U.S. port locations, where it is  staged
     for export via vessel or received as import cargo from abroad.

     Seaboard's  primary marine operation is located in  Miami  and
     includes a 81 acre terminal located at the Port of Miami and a
     135,000 square foot off-dock warehouse for cargo consolidation
     and temporary storage.  Seaboard also operates a 62 acre cargo
     terminal  facility  at  the  Port  of  Houston  that  includes
     approximately  690,000 square feet of on-dock warehouse  space
     for  temporary  storage  of bagged grains,  resins  and  other
     cargoes.   Seaboard  also  makes  scheduled  vessel  calls  in
     Brooklyn,  New York, Fernandina Beach, Florida,  New  Orleans,
     Louisiana  and  40  foreign  ports.   At  December  31,  2009,
     Seaboard's  fleet  consists of 12 owned and  approximately  22
     chartered  vessels,  and  dry,  refrigerated  and  specialized
     containers and other related equipment.

     Sugar  Division - Seaboard, through its subsidiary, Ingenio  y
     Refineria  San  Martin  del Tabacal and other  Argentine  non-
     consolidated  affiliates, is involved in  the  production  and
     refining  of  sugar  cane in Argentina.   This  division  also
     purchases  sugar  in bulk from third parties within  Argentina
     for subsequent resale.  The sugar products are mostly sold  in
     Argentina,  primarily to retailers, soft drink  manufacturers,
     and  food  manufacturers,  with some  exports  to  the  United
     States,  South  America and Europe.  Seaboard  grows  a  large
     portion of the sugar cane on more than 60,000 acres of land it
     owns  in northern Argentina. The cane is processed at an owned
     mill,  with  a  current processing capacity  of  approximately
     250,000  metric  tons  of sugar and approximately  14  million
     gallons  of  alcohol per year (hydrated and dehydrated).   The
     sugar  mill is one of the largest in Argentina.  Also,  during
     2008  this  division  began  construction  of  a  40  megawatt
     cogeneration  power plant, which is expected to  be  completed
     during the third quarter of 2010.

     Power Division - All other businesses primarily represents the
     business  of  Seaboard's subsidiary, Transcontinental  Capital
     Corp.  (Bermuda) Ltd. (the Power Division), which operates  as
     an independent power producer in the Dominican Republic.  This
     operation  is  exempt from U.S. regulation  under  the  Public
     Utility  Holding Company Act of 1938, as amended.   The  Power
     Division operates two floating barges with a system of  diesel
     engines  capable  of generating a combined rated  capacity  of
     approximately  112 megawatts of electricity.  See  "Status  of
     Product  or Segment" below for discussion of the pending  sale
     of  the  two barges.  Seaboard generates electricity into  the
     local Dominican Republic power grid.  Seaboard is not directly
     involved   in   the  transmission  or  distribution   of   the
     electricity but does have contracts to sell directly to  third
     party  users.   The barges are secured on the Ozama  River  in
     Santo Domingo, Dominican Republic.  The electricity is sold to
     certain  large commercial users with contract terms  extending
     from one to four years.  Seaboard also sells approximately 34%
     of  its power under a short-term contract that expires at  the
     end  of March 2010 to a government-owned distribution company.
     The  remaining  electricity is sold in the  "spot  market"  at
     prevailing   market   prices,  primarily   to   three   wholly
     government-owned  electric  distribution  companies  or  other
     power  producers  who  lack  sufficient  power  production  to
     service their customers.

     Other  Businesses - Seaboard purchases and processes  jalapeno
     peppers at its owned plant in Honduras.  The processed peppers
     are primarily sold to a customer in the United States, and are
     shipped to the United States by Seaboard's Marine Division and
     distributed from Seaboard's port facilities.

<PAGE> 4

     The  information required by Item 1 of Form 10-K with  respect
     to  the  amount or percentage of total revenue contributed  by
     any  class  of similar products or services which account  for
     10  percent or more of consolidated revenue in any of the last
     three  fiscal  years  is set forth in Note  13  of  Seaboard's
     Consolidated  Financial  Statements,  appearing  on  pages  55
     through  59  of  the Seaboard's Annual Report to Stockholders,
     furnished  to  the  Commission pursuant to rule  14a-3(b)  and
     attached  as  Exhibit 13 to this report, which information  is
     incorporated herein by reference.

     (ii) Status of Product or Segment

     During  2009,  Seaboard completed construction  of  and  began
     operations at a majority-owned ham-boning and processing plant
     in Mexico.

     During  2008  Seaboard discontinued operations  of  its  flour
     milling operations in Mozambique as a result of its Mozambican
     subsidiary  entering into an agreement to exchange  its  flour
     milling  facility for a ten percent ownership  interest  in  a
     food  processing  company  in  that  country.   This  exchange
     transaction is expected to be completed in the first  half  of
     2010.

     Seaboard has a minority ownership in a feed mill operation  in
     Nigeria.    During   2009,   this   entity   contributed   all
     manufacturing  equipment and certain other assets  along  with
     its  trade  name  to  a newly formed feed  mill  operation  in
     Nigeria  in exchange for a minority interest in the  new  mill
     operation  and will no longer continue its original feed  mill
     operations.  In a separate transaction, this same entity  sold
     certain  land  and  building of one of its  closed  feed  mill
     operations to a third party for cash.

     On  January  12,  2010,  Haiti was struck  by  an  earthquake.
     Seaboard has a non-controlling interest in a foreign affiliate
     with  a flour mill operation in Lafiteau, Haiti.  Part of this
     facility  was severely damaged as a result of the  earthquake.
     This affiliate business intends to rebuild the damaged part of
     the  facility and will continue to operate the portion of  the
     facility  that  was  not  damaged.  This  facility  was  fully
     insured,   including  business  interruption   and   inventory
     coverage.    Seaboard  also  sells wheat  and  flour  to  this
     business through Seaboard's commodity trading operations.   In
     addition, the primary port in Haiti, located in Port-au-Prince
     from  which  Seaboard  Marine's  vessels  normally  dock,  was
     severely damaged.  Seaboard is not the owner operator of  this
     port  location  but  does  operate a small  terminal  facility
     nearby that sustained minor damage from the earthquake,  which
     is   covered  by  insurance.   Currently,  Seaboard   has   no
     indication how long it will take before regular service can be
     resumed  to  Haiti's  primary port but  is  currently  routing
     cargoes  through  secondary ports in Haiti and  the  Dominican
     Republic.

     The  Sugar  Division  is in the process  of  developing  a  40
     megawatt cogeneration power plant.  This     plant is expected
     to  be  completed  during  the  third  quarter  of  2010.   In
     addition,   during  the  first  quarter  of  2009,  management
     reviewed  its  strategic options for the  citrus  business  in
     light  of  a continually difficult operating environment.   In
     the  first quarter of 2009, management decided not to process,
     package  or market the 2009 harvest for the citrus and related
     juice  operations.  In the second quarter of 2009,  management
     decided to integrate and transform some of the land previously
     used   for   citrus  production  into  sugar  cane  production
     resulting in an exit from the citrus business.  Lastly, in the
     first  quarter of 2010, the Company began sales of  dehydrated
     alcohol to certain local oil companies under the national bio-
     ethanol  program  which requires alcohol to  be  blended  with
     gasoline.

     The  Power  Division's short-term contract with a  government-
     owned distribution company, which represents approximately 34%
     of its sales, expires at the end of March 2010.

     On  March  2, 2009, an agreement became effective under  which
     Seaboard  will  sell  its two power barges  in  the  Dominican
     Republic  for  $70.0 million, which will use such  barges  for
     private use.  The agreement calls for the sale to occur on  or
     around January 1, 2011.  Seaboard will be responsible for  the
     wind down and decommissioning costs of the barges.  Completion
     of  the  sale  is dependent upon the satisfaction  of  several
     conditions, including meeting certain baseline performance and
     emission  tests.  Failure to satisfy or cure any  deficiencies
     could result in the agreement being terminated.  Seaboard will
     retain  all  other physical properties of its power generation
     business,  and  is considering options to continue  its  power
     business  in  the Dominican Republic after the sale  of  these
     assets is completed.

<PAGE> 5

     (iii) Sources and Availability of Raw Materials

     None of Seaboard's businesses utilize material amounts of  raw
     materials that are dependent on purchases from one supplier or
     a small group of dominant suppliers.

     (iv) Patents, Trademarks, Licenses, Franchises and Concessions

     Seaboard uses the registered trademark of Seaboard.

     The  Pork Division uses registered trademarks relating to  its
     products,  including  Seaboard Farms, Prairie Fresh,  A  Taste
     Like  No  Other,  Daily's, Daily's  Premium Meats Since  1893,
     High Plains  Bioenergy,  Prairie  Fresh Prime, Seaboard Foods,
     Buffet   Brand,  Seaboard   Farms,   Inc.  and   Del   Pueblo.
     Seaboard  considers the use of these trademarks  important  to
     the marketing and promotion of its pork products.

     The  Marine Division  uses the trade name Seaboard Marine  and
     Seaboard  Solutions   which  are  all  registered  trademarks.
     Seaboard  believes there is significant recognition  of  these
     trademarks in the industry and by many of its customers.

     Part of the sales within the Sugar Division are made under the
     Chango   brand  in  Argentina, where this  division  operates.
     Local  sales  prices are affected by government price  control
     and  sugar  import duties imposed by the Argentine government,
     impacting local volume sold, as well as imported and  exported
     volumes to and from international markets.

     Seaboard's   Power  Division  benefits  from  a   tax   exempt
     concession   granted  by  the  Dominican  Republic  government
     through 2012.

     Patents, trademarks, franchises, licenses and concessions  are
     not material to any of Seaboard's other divisions.

     (v)  Seasonal Business

     Sugar  prices  in  Argentina are generally  lower  during  the
     typical  sugarcane  harvest period between May  and  November.
     Seaboard's other divisions are not seasonally dependent to any
     material extent.

     (vi) Practices Relating to Working Capital Items

     There  are  no  unusual  industry practices  or  practices  of
     Seaboard relating to working capital items.

     (vii)      Depending on a Single Customer or Few Customers

     Seaboard does not have sales to any one customer equal to  ten
     percent  or more of consolidated revenues.  The Pork  Division
     derives  approximately 12 percent of its revenues from  a  few
     customers  in  Japan  through one agent.  The  Power  Division
     sells  power in the Dominican Republic to a limited number  of
     contract  customers and on the spot market accessed  primarily
     by   three  wholly  government-owned  distribution  companies.
     Approximately 34% of its power generation is provided for  one
     government-owned  distribution  company  under  a   short-term
     contract  that expires at the end of March 2010 and for  which
     Seaboard  bears  a concentrated credit risk as this  customer,
     from  time  to  time, has significant past due balances.    No
     other  division has sales to a few customers which,  if  lost,
     would  have a material adverse effect on any such division  or
     on Seaboard taken as a whole.

     (viii) Backlog

     Backlog is not material to Seaboard's businesses.

     (ix) Government Contracts

     No material portion of Seaboard's business involves government
     contracts.

     (x)  Competitive Conditions

     Competition in Seaboard's Pork Division comes from  a  variety
     of   national,   international  and  regional  producers   and
     processors and is based primarily on product quality, customer
     service  and  price.   According  to  recent  publications  by
     Successful  Farming and Informa Economics, trade publications,
     Seaboard  ranks as one of the nation's top five pork producers
     (based  on  sows  in production) and top ten  pork  processors
     (based on daily processing capacity).

     Seaboard's ocean liner service for containerized cargoes faces
     competition  based on price, reliable sailing frequencies  and
     customer service.  Seaboard believes it is among the top  five
     ranking ocean liner services for containerized cargoes in  the
     Caribbean Basin based on cargo volume.

<PAGE> 6

     Seaboard's sugar business owns one of the largest sugar  mills
     in Argentina and faces significant competition for sugar sales
     in  the local Argentine market.  Sugar prices in Argentina can
     fluctuate  compared to world markets due to current  Argentine
     government price control and protection policies.

     Seaboard's   Power  Division  is  located  in  the   Dominican
     Republic.   Power generated by this division is  sold  on  the
     spot market or to contract customers at prices primarily based
     on market conditions rather than cost-based rates.

     (xi) Research and Development Activities

     Seaboard conducts research and development activities  focused
     on  various  aspects of Seaboard's vertically integrated  pork
     processing   system,  including  improving  product   quality,
     production     processes,    animal    genetics,     nutrition
     and health.  Incremental costs incurred to perform these tests
     are  expensed  as incurred and are not material  to  operating
     results.

     (xii)     Environmental Compliance

     Seaboard  is  subject  to numerous Federal,  state  and  local
     provisions  relating  to  the environment  which  require  the
     expenditure  of  funds  in the ordinary  course  of  business.
     Seaboard  does  not anticipate making expenditures  for  these
     purposes,  which, in the aggregate would have  a  material  or
     significant  effect  on  Seaboard's  financial  condition   or
     results of operations.

     (xiii)    Number of Persons Employed by Registrant

     As  of December 31, 2009, Seaboard, excluding non-consolidated
     foreign  affiliates, had 10,957 employees, of whom 5,737  were
     employed  in the United States.  Approximately 2,100 employees
     in   Seaboard's  Pork  Division  were  covered  by  collective
     bargaining  agreements  as  of December  31,  2009.   Seaboard
     considers its employee relations to be satisfactory.

(d)  Financial Information about Geographic Areas

In  addition  to  the  narrative  disclosure  provided  below,  the
financial information relating to export sales required by  Item  1
of  Form  10-K is incorporated herein by reference to  Note  13  of
Seaboard's Consolidated Financial Statements appearing on pages  55
through 59 of Seaboard's Annual Report to Stockholders furnished to
the Commission pursuant to Rule 14a-3(b) and attached as Exhibit 13
to this report.

Seaboard  considers  its  relations with  the  governments  of  the
countries  in  which  its foreign subsidiaries and  affiliates  are
located  to  be  satisfactory,  but these  foreign  operations  are
subject  to  risks of doing business in lesser-developed  countries
which  are  subject  to  potential  civil  unrests  and  government
instabilities,  increasing the exposure to potential expropriation,
confiscation, war, insurrection, civil strife and revolution, sales
price  controls,  currency inconvertibility  and  devaluation,  and
currency  exchange controls.  To minimize certain of  these  risks,
Seaboard  has  insured certain investments in its  affiliate  flour
mills in Democratic Republic of Congo, Haiti, Lesotho, Republic  of
Congo  and  Zambia, to the extent available and deemed  appropriate
against certain of these risks with the Overseas Private Investment
Corporation,  an  agency of the United States Government.   At  the
date  of this report, Seaboard is not aware of any situations which
could  have a material effect on Seaboard's business, although  the
January  12, 2010 earthquake in Haiti could result in civil  unrest
over  a  period  of  time if local conditions do not  improve  from
current conditions.

(e)  Available Information

Seaboard electronically files with the Commission annual reports on
Form  10-K, quarterly reports on Form 10-Q, current reports on Form
8-K  and  amendments to those reports pursuant to Section 13(a)  or
15(d)  of  the  Exchange Act.  The public may  read  and  copy  any
materials filed with the Commission at their public reference  room
located  at 100 F Street N.E., Washington, D.C. 20549.  The  public
may obtain further information concerning the public reference room
and  any  applicable  copy  charges, as  well  as  the  process  of
obtaining copies of filed documents by calling the Commission at 1-
800-SEC-0330.

The Commission maintains an internet website that contains reports,
proxy  and  information statements, and other information regarding
electronic filers at www.sec.gov.  Seaboard provides access to  its
most recent Form 10-K, 10-Q and 8-K reports, and any amendments  to
these reports, on its internet website, www.seaboardcorp.com,  free
of  charge,  as soon as reasonably practicable after those  reports
are electronically filed with the Commission.

<PAGE> 7

Please note that any internet addresses provided in this report are
for   information  purposes  only  and  are  not  intended  to   be
hyperlinks.  Accordingly, no information provided at such  Internet
addresses  is  intended  or  deemed to be  incorporated  herein  by
reference.

Item 1A.  Risk Factors

Seaboard  has  identified important risks  and  uncertainties  that
could  affect  the  results of operations, financial  condition  or
business  and  that  could  cause them to  differ  materially  from
Seaboard's historical results of operations, financial condition or
business, or those contemplated by forward-looking statements  made
herein  or elsewhere, by, or on behalf of, Seaboard.  Factors  that
could cause or contribute to such differences include, but are  not
limited to, those factors described below.

(a) General

  (1)  Seaboard's Operations are Subject to the General Risks of the
       Food Industry.  The divisions of the business that are in the
       food products manufacturing industry are subject to the risks
       posed by:

         -  food spoilage or food contamination;

         -  evolving consumer preferences and nutritional and health-
            related concerns;

         -  federal, state,  national,  provincial  and  local  food
            processing controls;

         -  consumer product liability claims;

         -  product tampering;

         -  the  possible unavailability and/or expense of liability
            insurance.

       If one or more of these risks were to materialize, Seaboard's
       revenues could  decrease,  costs  of  doing  business   could
       increase, and Seaboard's operating results could be adversely
       affected.

  (2)  Foreign  Political and Economic Conditions Have a Significant
       Impact  on  Seaboard's  Business.   Seaboard  is  a   diverse
       agribusiness   and   transportation   company   with   global
       operations in several industries. Most of the sales and costs
       of  Seaboard's  divisions  are  significantly  influenced  by
       worldwide  fluctuations  in  commodity  prices or  changes in
       foreign political and economic conditions. Accordingly, sales,
       operating income and cash flows can fluctuate   significantly
       from  year  to year.  In  addition,  Seaboard's international
       activities  pose  risks  not  faced  by  companies that limit
       themselves to United States markets. These risks include:

         -  changes in foreign currency exchange rates;

         -  foreign currency exchange controls;

         -  changes in a specific country's or region's political or
            economic conditions, particularly in emerging markets;

         -  hyperinflation;

         -  heightened customer credit and execution risk;

         -  tariffs,  other  trade protection measures and import or
            export licensing requirements;

         -  potentially  negative  consequences  from changes in tax
            laws;

         -  different legal and regulatory structures and unexpected
            changes in legal and regulatory requirements; and

         -  negative perception within a foreign country of a United
            States company doing business in that foreign country.

       Seaboard  cannot provide assurance that it will be  successful
       in competing effectively in international markets.

  (3)  Deterioration  of Economic Conditions Could Negatively  Impact
       Seaboard's  Business.  Seaboard's business  may  be  adversely
       affected by changes in national or global economic conditions,
       including  inflation, interest rates, availability of  capital
       markets,  consumer  spending rates,  energy  availability  and
       costs  and  the effects of governmental initiatives to  manage
       economic conditions.  Any such changes could adversely  affect
       the   demand  for  our  pork  products,  grains  and  shipping
       services,  or  the  cost and availability of  our  needed  raw
       materials   and   packaging  materials,   thereby   negatively
       affecting  our  financial results.  The current  national  and
       global economic conditions, could, among other things:

         -  impair  the  financial condition of some of our customers
            and  suppliers  thereby  increasing customer bad debts or
            non-performance by customers and suppliers;

         -  negatively   impact   global   demand   for  protein  and
            grain-based  products,  which could result in a reduction
            of sales, operating income and cash flows;

         -  decrease the value of our investments in equity and debt
            securities, including pension plan assets; and

<PAGE> 8

         -  impair the financial viability of our insurers.

  (4)  Ocean Transportation Has Inherent Risks.  Seaboard's owned and
       chartered vessels along with related cargoes  are  at  risk of
       being damaged or lost because of events such as:

         -  marine disasters;

         -  bad weather;

         -  mechanical failures;

         -  grounding, fire, explosions and collisions;

         -  human error; and

         -  war and terrorism.

       All of these hazards can result in death or injury to persons,
       loss  of property, environmental damages, delays or rerouting.
       If one of Seaboard's vessels were involved in an accident, the
       resulting media coverage could have a material adverse  effect
       on  Seaboard's  business, financial condition and  results  of
       operations.

  (5)  Seaboard's Common Stock is Thinly Traded and Subject to  Daily
       Price  Fluctuations.  The common stock of Seaboard is  closely
       held (72.3% is owned by  Seaboard Flour and SFC Preferred LLC,
       which is  owned  by S. Bresky and  other members of the Bresky
       family) and  thinly traded  on a daily basis on  the NYSE Amex
       Equities  (formerly,  NYSE  Alternext  US).  Accordingly,  the
       price  of  a  share  of  common  stock   can   fluctuate  more
       significantly from day-to-day than a widely held stock that is
       actively traded on a daily basis.

(b) Pork Division

  (1)  Fluctuations   in   Commodity   Pork  Prices  Could  Adversely
       Affect  Seaboard's Results of Operations.   Sales  prices  for
       Seaboard's  pork  products  are  directly  affected  by   both
       domestic  and  world wide supply and demand for pork  products
       and  other proteins, all of which are determined by constantly
       changing  market forces of supply and demand as well as  other
       factors   over  which  Seaboard  has  little  or  no  control.
       Commodity  pork  prices  demonstrate a  cyclical  nature  over
       periods  of years, reflecting changes in the supply  of  fresh
       pork and competing proteins on the market, especially beef and
       chicken.   Seaboard's results of operations could be adversely
       affected by fluctuations in pork commodity prices.

  (2)  Increases  in   Costs of  Seaboard's Feed Components  and  Hog
       Purchases  Could  Adversely   Affect   Seaboard's   Costs  and
       Operating Margins.  Feed costs are the most significant single
       component of the  cost  of  raising hogs and can be materially
       affected by commodity  price fluctuations for corn and soybean
       meal.  The  results  of  Seaboard's  Pork   Division   can  be
       negatively  affected  by  increased  costs  of Seaboard's feed
       components.  The recent increase in construction and operation
       of ethanol  plants  has elevated this risk as it has increased
       the  competing  demand  for  feed ingredients, primarily corn.
       Similarly,  accounting  for  approximately  25%  of Seaboard's
       total hogs slaughtered, the cost of third party hogs purchased
       fluctuates  with  market conditions and can have an impact  on
       Seaboard's total costs. The cost and supply of feed components
       and  the  third party hogs that we purchase are determined  by
       constantly changing market  forces of supply and demand, which
       are driven by matters over which we have no control, including
       weather,  current  and  projected  worldwide  grain stocks and
       prices,  grain  export  prices  and  supports and governmental
       agricultural policies.  Seaboard attempts to manage certain of
       these risks through the use  of financial instruments, however
       this may also limit its ability  to  participate in gains from
       favorable commodity fluctuations. Unless wholesale pork prices
       correspondingly   increase,   increases   in   the  prices  of
       Seaboard's feed components or in the cost of third  party hogs
       purchased would adversely affect Seaboard's operating margins.

  (3)  Seaboard's  Ability  to Obtain Appropriate Personnel at Remote
       Locations  is  Important to Seaboard's Business.   The  remote
       locations of the pork processing plant and live hog operations,
       the  lack  of  immigration  reform could negatively affect the
       availability  and  cost  of  labor.  Seaboard  is dependent on
       having  sufficient  properly  trained  operations   personnel.
       Attracting and retaining  qualified  personnel is important to
       Seaboard's success.   The  inability to acquire and retain the
       services  of  such  personnel  could  have  a material adverse
       effect on Seaboard's operations.

  (4)  The  Loss  of  Seaboard's  Sole Hog Processing Facility  Could
       Adversely   Affect   Seaboard's   Business.   Seaboard's  Pork
       Division is largely  dependent on the continued operation of a
       single hog processing facility.  The loss of or damage to this
       facility   for   any    reason - including    fire,   tornado,
       governmental action or other reason  - could  adversely affect
       Seaboard and Seaboard's  pork business.

  (5)  Environmental Regulation  and  Related Litigation Could Have a
       Material Adverse Effect on Seaboard. Seaboard's operations and
       properties are subject to extensive and increasingly stringent
       laws and regulations pertaining to, among other things, odors,
       the  discharge  of  materials  into  the environment  and  the
       handling  and  disposition  of   wastes

<PAGE> 9


       (including solid and hazardous wastes) or   otherwise relating
       to protection of the environment. Failure to comply with these
       laws and regulations and any future changes to them may result
       in significant consequences to Seaboard, including   civil and
       criminal  penalties,  liability  for   damages   and  negative
       publicity.  Some  requirements applicable to Seaboard may also
       be  enforced  by  citizen  groups.  Seaboard has incurred, and
       will  continue to incur, operating expenditures to comply with
       these laws and regulations.

  (6)  Health  Risk  to  Livestock Could Adversely Affect Production,
       the Supply of Raw Materials and Seaboard's Business.  Seaboard
       is subject to risks relating to its ability to maintain animal
       health  and  control diseases.  The general health of the hogs
       and  the  reproductive  performance  of  the  sows can have an
       adverse impact on  production and production costs, the supply
       of raw material to  Seaboard's  pork processing operations and
       consumer  confidence.  If  Seaboard's  hogs  are  affected  by
       disease,  Seaboard  may  be  required  to   destroy   infected
       livestock, which could adversely  affect Seaboard's production
       or ability to sell or export its products.  Moreover, the herd
       health  of  third  party suppliers could adversely affect  the
       supply and cost of hogs available for purchase  by   Seaboard.
       Adverse publicity concerning any disease or  health    concern
       could also  cause  customers  to lose confidence in the safety
       and quality of Seaboard's food products.

  (7)  If  Seaboard's  Pork  Products Become Contaminated, We May  be
       Subject to Product Liability Claims and Product Recalls.  Pork
       products  may be subject to contamination by disease producing
       organisms.  These  organisms  are  generally  found   in   the
       environment and as  a  result, regardless of the manufacturing
       practices  employed,  there is a risk that they as a result of
       food processing could  be present in Seaboard's processed pork
       products.  Once  contaminated  products  have been shipped for
       distribution, illness  and  death may  result if the organisms
       are not eliminated at the  further  processing, foodservice or
       consumer  level.  Even an inadvertent shipment of contaminated
       products is a violation of law  and may lead to increased risk
       of exposure to product liability  claims,  product recalls and
       increased scrutiny by federal and  state  regulatory  agencies
       and may have a material adverse effect on Seaboard's business,
       reputation,  prospects,  results  of  operations and financial
       condition.

  (8)  Corporate  Farming Legislation Could Result in the Divestiture
       or  Restructuring   of   Seaboard's   Pork   Operations.   The
       development  of  large   corporate   farming   operations  and
       concentration of hog production in larger-scale facilities has
       engendered  opposition  from   residents  of  states  in which
       Seaboard conducts its pork processing and live hog operations.
       From  time-to-time,  corporate  farming  legislation  has been
       introduced   in   the   United  States  Senate  and  House  of
       Representatives,  as  well  as  in several state legislatures.
       These  proposed  anti-corporate  farming  bills have  included
       provisions  to  prohibit  or  restrict  meat  packers, such as
       Seaboard,  from owning or controlling livestock  intended  for
       slaughter, which would require divestiture or restructuring of
       Seaboard's operations.

  (9)  International Trade Barriers Could Adversely Affect Seaboard's
       Pork Operations.  This division realizes a significant portion
       of its revenues from international markets, particularly Japan
       and Mexico.   International sales are subject to risks related
       to general economic conditions, imposition of tariffs, quotas,
       trade barriers and other restrictions, enforcement of remedies
       in  foreign  jurisdictions  and  compliance  with   applicable
       foreign laws, and  other economic and political uncertainties.
       These and other risks could result in border closings or other
       international  trade  barriers  having  an  adverse  effect on
       Seaboard's earnings.

 (10)  Discontinuation   of   Tax   Credits   for   Biodiesel   Could
       Adversely  Affect Seaboard's Results of Operations.   Seaboard
       obtains  Federal  and State tax credits for the  biodiesel  it
       produces  and  sells.   The  Federal  tax  credit  expired  on
       December 31, 2009, and if not renewed by Congress during  2010
       could  adversely affect Seaboard's results of  operations  and
       could result in the potential impairment of the recorded value
       of  property,  plant and equipment related  to  the  biodiesel
       processing facility.

 (11)  Operations     of    Biodiesel   Production   Facility.    The
       profitability of Seaboard's biodiesel plant could be adversely
       affected  by  various factors, including the market  price  of
       pork  and  other  animal  fat which  is  utilized  to  produce
       biodiesel,  and  the market price for biodiesel.   Unfavorable
       changes  in  these prices over extended periods of time  could
       adversely  affect Seaboard's results of operations  and  could
       result  in the potential impairment of the recorded  value  of
       the property, plant and equipment related to this facility.

 (c) Commodity Trading & Milling Division

  (1)  Seaboard's  Commodity  &  Milling Division is Subject to Risks
       Associated with Foreign Operations.  This division principally
       operates  in  Africa, Bermuda, South America and the Caribbean
       and,  in  most  cases, in  what  are generally regarded to  be
       lesser  developed countries.  Many of these foreign operations
       are  subject  to  risks of  doing business in lesser-developed
       countries which  are  subject  to  potential civil unrests and
       government instabilities, increasing the exposure to potential
       expropriation, confiscation, war, insurrection, civil   strife
       and   revolution,    currency

<PAGE> 10

       inconvertibility   and   devaluation,  and  currency  exchange
       controls,  in  addition  to  the  risks of overseas operations
       mentioned  in  clause  (a)(2)  above.  In   addition,  foreign
       government  policies  and  regulations   could   restrict  the
       purchase  of  various grains, reducing or  limiting Seaboard's
       ability to access grains or  to  limit  Seaboard's sales price
       for grains sold in local markets.

  (2)  Fluctuations  in Commodity Grain Prices Could Adversely Affect
       the Business of Seaboard's Commodity & Milling Division.  This
       division's  sales  are significantly affected  by  fluctuating
       worldwide prices for various commodities, such as wheat, corn,
       soybeans  and rice.  These prices are determined by constantly
       changing  market forces of supply and demand as well as  other
       factors  over which Seaboard has little or no control.   North
       American  and  European  subsidized  wheat and  flour exports,
       including  donated  food  aid,  and  world-wide and local crop
       production  can  contribute   to   these   fluctuating  market
       conditions and can have a  significant  impact  on the trading
       and milling businesses' sales,  value  of  commodities held in
       inventory  and  operating   income.   Seaboard's   results  of
       operations  could  be  adversely  affected  by fluctuations in
       commodity prices.

  (3)  Seaboard's Commodity & Milling Division Largely Depends on the
       Availability  of  Chartered  Ships.  Most  of Seaboard's third
       party  trading  is  transported with chartered ships.  Charter
       hire  rates,  influenced  by  available  charter  capacity and
       demand for worldwide  trade  in bulk  cargoes, port access and
       throughput time, and related  fuel  costs can impact  business
       volumes and margins.

  (4)  This Division Uses a Material Amount of Derivative Products to
       Manage Certain Market Risks.  The commodity trading portion of
       the  business  enters  into  various   commodity  derivatives,
       foreign exchange derivatives and freight derivatives to create
       what  management  believes  is an economic hedge for commodity
       trades it  executes or intends  to execute with its customers.
       From time to time, this portion of the business may enter into
       speculative  derivative  transactions  related  to  its market
       risks.  Failure  to  execute  or  improper   execution   of  a
       derivative position or a firmly  committed  sale  or  purchase
       contract, a speculative transaction that  closes  without  the
       desired result or exposure to counter party risk could have an
       adverse impact on the results of operations  and liquidity.

  (5)  This   Division  is  Subject to Higher than Normal  Risks  for
       Attracting  and  Retaining  Key  Personnel.  In  the commodity
       trading  environment,  a  loss  of  a  key  employee such as a
       commodity trader can have a negative impact resulting from the
       loss  of  revenues  as  personal customer relationships can be
       vital to obtaining and retaining business with various foreign
       customers.  In the milling portion of this division, employing
       and retaining  qualified expatriate personnel is a key element
       of  success  given the difficult living conditions, the unique
       operating environments and  the reliance on a relatively small
       number of executives to manage each individual location.

(d) Marine Division

  (1)  The  Demand  for  Seaboard's  Marine Division's  Services  Are
       Affected by International Trade and Fluctuating Freight Rates.
       This  division provides containerized cargo shipping  services
       primarily  from  the  United  States  to twenty-five different
       countries  in  the Caribbean Basin, Central and South America.
       In addition to  the risks  of overseas operations mentioned in
       clause  (a)(2) above,  fluctuations  in  economic  conditions,
       unstable  or  hostile  local  political   situations   in  the
       countries in which Seaboard operates  can affect import/export
       trade volumes and the price of container  freight  rates   and
       adversely affect  Seaboard's  results  of operations.

  (2)  Chartered Ships Are Subject to Fluctuating Rates.  The largest
       expense  for  this  division  is  typically time charter cost.
       Certain  of  the ships are under charters longer than one year
       while  others  are  less than  one year.  These costs can vary
       greatly due to a  number  of  factors  including the worldwide
       supply  and  demand  for  shipping.  It  is  not  possible  to
       determine in advance whether  a  charter  contract for more or
       less than one year will be favorable  to  Seaboard's business.
       Accordingly, entering into long-term  charter  hire  contracts
       during periods of decreasing charter hire costs  or short term
       charter hire contracts  during  periods  of increasing charter
       hire costs could have an adverse effect  on Seaboard's results
       of operation.

  (3)  Fuel  Prices  Can  Adversely Affect Seaboard's Business.  Ship
       fuel  expenses  are  one  of  the division's largest expenses.
       These  costs  can  vary greatly from year-to-year depending on
       world fuel  prices.  Also,  but to a lesser extent, fuel price
       increases can impact the cost of inland transportation costs.

  (4)  Hurricanes   Can  Disrupt  Operations in the Caribbean  Basin.
       Seaboard's port operations throughout  the Caribbean Basin can
       be  subject  to  disruption  due  to hurricanes, especially at
       Seaboard's  major  ports in Miami, Florida and Houston, Texas,
       which  could  have  an  adverse  effect  on  our   results  of
       operations.

<PAGE> 11

  (5)  Seaboard  is  Subject to Complex Laws and Regulations that Can
       Adversely Affect the Revenues, Cost, Manner or  Feasibility of
       Doing  Business.   Federal, state and local laws and  domestic
       and  international  regulations  governing  worker  health and
       safety,  environmental protection, port and terminal security,
       and the  operation  of vessels significantly affect Seaboard's
       operations,  including  rate  discussions  and  other  related
       arrangements.  Many  aspects of the marine industry, including
       rate  agreements,  are  subject  to    extensive  governmental
       regulation by the  Federal Maritime Commission, the U.S. Coast
       Guard,  and  U.S. Customs  and  Border  Protection,   and   to
       regulation   by  private  industry  organizations.  Compliance
       with applicable laws, regulations and  standards  may  require
       installation of costly equipment or operational changes, while
       the failure to comply may result in  administrative  and civil
       penalties, criminal sanctions or the suspension or termination
       of  Seaboard's  operations  or  detention  of its vessels.  In
       addition, future changes in laws, regulations and   standards,
       including allowed freight rate discussions and other   related
       arrangements,  may result  in additional  costs or a reduction
       in revenues.

(e) Sugar Division

  (1)  The Success  of this  Division Depends on the Condition of the
       Argentinean  Economy  and  Political  Climate.  This  division
       operates  a  sugar  mill  and  alcohol  production facility in
       Argentina, locally  growing a substantial portion of the sugar
       cane processed at the mill.   The majority of  the  sales  are
       within  Argentina.  Fluctuations  in  economic  conditions  or
       changes in the Argentine  political climate can have an impact
       on the costs of operations,  the  sales prices of products and
       export opportunities and the  exchange  rate  of the Argentine
       peso to the U.S. dollar.  In this  regard,  local sales prices
       are affected by government  price  control  and  sugar  import
       duties imposed by the Argentine government,    impacting local
       volume sold, as well as imported and  exported  volumes to and
       from  international  markets.  If  import  duties are changed,
       this could have a negative impact on Seaboard's sale price  of
       its  products.  In addition, the Argentine government attempts
       to  control  inflation  through price controls on commodities,
       including  sugar, which could adversely impact the local sales
       price of its  products  and the results of operations for this
       division.  A  devaluation  of  the Argentine peso would have a
       negative impact on Seaboard's financial position.

  (2)  This Division is Subject to the Risks that Are Inherent in any
       Agricultural  Business.  Seaboard's  results of operations for
       this  division  may  be adversely affected by numerous factors
       over which we  have little or no control and that are inherent
       in any  agricultural  business,  including  reductions  in the
       market  prices  for  Seaboard's  products, adverse weather and
       growing  conditions,  pest  and  disease  problems,  and   new
       government regulations regarding agriculture and the marketing
       of agricultural products. Of these risks, weather particularly
       can adversely affect the amount and quality  of the sugar cane
       produced  by  Seaboard  and  Seaboard's competitors located in
       other regions of Argentina.

  (3)  The   Loss   of   Seaboard's  Sole Processing  Facility  Would
       Adversely  Affect  the  Business of This Division.  Seaboard's
       Sugar Division is largely dependant on the continued operation
       of a  single  processing  facility.  The  loss of or damage to
       this  facility  for  any  reason - including  fire,   tornado,
       governmental action,  labor  unrest resulting in labor strikes
       or other reasons - would adversely affect the business of this
       division.

  (4)  Labor   Relations.  This  division  is dependent on  unionized
       labor at  its  single  sugar  mill  in Argentina.  The current
       nature of  the political environment in Argentina makes normal
       labor  relations  very  challenging.   Contributing   to   the
       situation  are  the  policies  of the National Government, the
       failure  of  the  Argentine  courts  to   enforce  contractual
       obligations   with   unions    and   basic   property  rights.
       Interruptions in production as a result of labor unrest    can
       impact  the quantity of sugar cane harvested and the amount of
       sugar  and  alcohol  produced  as  well  as  interrupting  the
       distribution  of  products stored at the facility in the Salta
       Province.

(f) Power Division

  (1)  This  Division  is  Subject to Risks of Doing Business in  the
       Dominican  Republic.  This division operates in the  Dominican
       Republic  (DR).  In    addition    to    significant  currency
       fluctuations  and  the  other  risks  of  overseas  operations
       mentioned in clause (a)(2) above, this division can experience
       difficulty   in   obtaining   timely   collections   of  trade
       receivables from  the  government partially-owned distribution
       companies or other companies that must  also  collect from the
       government  in  order  to  make  payments  on  their accounts.
       Currently,  the  DR  does  not  allow  a free market to enable
       prices to rise with demand which would limit our profitability
       in   this  business.  The   government   has  the  ability  to
       arbitrarily  decide which power units will be able to operate,
       which could have adverse effects on results of operations.

<PAGE> 12

  (2)  Increases  in  Fuel Costs  Could Adversely  Affect  Seaboard's
       Operating Margins.  Fuel is the largest cost component of this
       division's  business and, therefore, margins may be  adversely
       affected by fluctuations in fuel if such increases  can not be
       fully passed to customers.

  (3)  Ability  to  Meet  Obligations  Under  Asset  Sale  Agreement.
       Seaboard's  agreement  to  sell its  Dominican Republic barges
       requires  that  they  meet  certain  performance  standards at
       closing, which if  not  met  will  result in Seaboard being in
       breach  of  the  agreement  which  could  result  in  Seaboard
       incurring significant damages.

Item 1B.  Unresolved Staff Comments

None

Item 2.  Properties

(1)  Pork - Seaboard's Pork Division owns a hog processing plant in
Guymon,  Oklahoma,  which opened in 1995.  It has  a  daily  double
shift  capacity to process approximately 18,500 hogs and  generally
operates  at  capacity with additional weekend shifts depending  on
market conditions. Seaboard's hog production operations consist  of
the breeding and raising of approximately 4.0 million hogs annually
at facilities it primarily owns or at facilities owned and operated
by  third parties with whom it has grower contracts.  This business
owns  and  operates six centrally located feed mills which  have  a
combined  capacity  to  produce  approximately  1,700,000  tons  of
formulated  feed  annually  used primarily  to  support  Seaboard's
existing  hog  production,  and have the capability  of  supporting
additional  hog  production in the future.   These  facilities  are
located in Oklahoma, Texas, Kansas and Colorado.

Seaboard's  Pork  Division also owns two bacon  further  processing
plants  located  in  Salt  Lake City, Utah and  Missoula,  Montana.
These  plants are utilized near capacity throughout the year, which
is  a  combined  daily  smoking capacity of  approximately  300,000
pounds  of  raw  pork bellies. The Pork Division  also  operates  a
majority-owned ham-boning and processing plant in Mexico  that  has
the  capacity to process 58.0 million pounds of ham annually.  This
plant was completed in the second quarter of 2009.

The  Pork Division owns a processing plant in Guymon, Oklahoma with
the capacity to produce 30.0 million gallons of biodiesel annually,
which  is  currently produced from pork fat from Seaboard's  Guymon
pork  processing plant and from animal fat supplied by non-Seaboard
facilities.  The facility can also produce biodiesel from vegetable
oil.

(2)   Commodity Trading and Milling - Seaboard's Commodity  Trading
and  Milling  Division owns, in whole or in part,  grain-processing
and  related agribusiness operations in 12 countries which have the
capacity to mill approximately 6,700 metric tons of wheat and maize
per day.  In addition, Seaboard has feed mill capacity of in excess
of  129  metric tons per hour to produce formula animal feed.   The
milling  operations  located in Colombia,  Democratic  Republic  of
Congo, Ecuador, Guyana, Haiti, Kenya, Lesotho, Nigeria, Republic of
Congo, Sierra Leone, Uganda and Zambia own their facilities; and in
Kenya,  Lesotho,  Nigeria, Republic of Congo and Sierra  Leone  the
land  on  which the mills are located on is leased under  long-term
agreements.  Certain foreign milling operations may operate at less
than  full  capacity  due to low demand related  to  poor  consumer
purchasing  power,  excess milling capacity  in  their  competitive
environment  and  European-subsidized  wheat  and  flour   exports.
Seaboard  also  owns  seven 9,000 metric-ton  deadweight  dry  bulk
carriers,  one 23,400 metric ton deadweight dry bulk  carrier,  and
"time  charters" (the charter of a vessel, whereby the vessel owner
is responsible to provide the captain and crew necessary to operate
the  vessel)  under short-term agreements, between 13 and  44  bulk
carrier  ocean vessels with deadweights ranging from 500 to  44,000
metric tons.

(3)   Marine  - Seaboard's Marine Division leases a 135,000  square
foot  off-port  warehouse and 81 acres of port  terminal  land  and
facilities  in  Miami, Florida which are used in its  containerized
cargo  operations.  Seaboard also leases an approximately  62  acre
cargo  handling  and  terminal facility in  Houston,  Texas,  which
includes several on-dock warehouses totaling approximately  690,000
square  feet  for  cargo storage.  At December 31,  2009,  Seaboard
owned 12 ocean cargo vessels with deadweights ranging from 2,600 to
19,500  metric  tons and time chartered 22 vessels under  contracts
ranging   from  approximately  five  months   to  two  years   with
deadweights ranging from 3,400 to 21,500 metric tons.  In addition,
Seaboard has contracted to charter two vessels on a four-year  time
charter.  Delivery of these two time chartered ships, each  with  a
deadweight of 26,500 metric tons, is expected in the first half  of
2010.    Seaboard  also  owns  or  leases  dry,  refrigerated   and
specialized containers and other related equipment.

<PAGE> 13

(4)   Sugar  - Seaboard's Argentine Sugar Division owns  more  than
60,000  acres  of  planted sugarcane.  Depending  on  local  market
conditions,  this  business also purchases third  party  sugar  for
resale.   In  addition, this division owns  a  sugar  mill  with  a
current  capacity to process approximately 250,000 metric  tons  of
sugar  and  an  alcohol  distillery  with  a  current  capacity  of
approximately  14  million  gallons  of  alcohol  per  year.   This
capacity is sufficient to process all of the cane harvested by this
division  and  certain additional quantities purchased  from  third
party  farmers in the region.  The sugarcane fields and  processing
mill are located in northern Argentina in the Salta Province, which
experiences  seasonal rainfalls that may limit the harvest  season,
which  then  affects the duration of mill operations and quantities
of  sugar  produced.   During the third  quarter  of  2010,  it  is
anticipated  that construction will be completed on a  40  megawatt
cogeneration power plant.

(5)   Power - Seaboard's Power Division owns two floating  electric
power  generating  facilities, consisting of  a  system  of  diesel
engines  mounted  onto barge-type vessels, with  a  combined  rated
capacity of approximately 112 megawatts, both located on the  Ozama
River  in Santo Domingo, Dominican Republic.  Seaboard operates  as
an  independent power producer.  Seaboard is not directly  involved
in  the  transmission and distribution facilities that deliver  the
power to the end users but does have contracts to sell directly  to
third party users.  See "Status of Product or Segment" under Item 1
of  this  report  for discussion of the pending  sale  of  the  two
barges.

(6)   Other - Seaboard owns a jalapeno pepper processing plant  and
warehouse in Honduras.

In  addition  to  the information provided above,  the  information
under   "Principal  Locations"  of  Seaboard's  Annual  Report   to
Stockholders furnished to the Commission pursuant to Rule  14a-3(b)
and attached as Exhibit 13 to this report is incorporated herein by
reference.

Management believes that Seaboard's present facilities are adequate
and suitable for its current purposes.

Item 3.  Legal Proceedings

The  information  required by Item 3 of Form 10-K  is  incorporated
herein by reference to Note 11 of Seaboard's Consolidated Financial
Statements appearing on pages 53 and 54 of Seaboard's Annual Report
to  Stockholders furnished to the Commission pursuant to Rule  14a-
3(b) and attached as Exhibit 13 to this Report.

Item 4. Reserved

Executive Officers of the Registrant

The  following  table  lists  the executive  officers  and  certain
significant  employees of Seaboard.  Generally, executive  officers
are  elected  at  the  annual meeting of  the  Board  of  Directors
following the Annual Meeting of Stockholders and hold office  until
the  next  such annual meeting or until their respective successors
are  duly  chosen  and  qualified.  There are  no  arrangements  or
understandings pursuant to which any executive officer was elected.

Name (Age)                Positions and Offices with Registrant and Affiliates

Steven J. Bresky (56)     President and Chief Executive Officer

Robert L. Steer  (50)     Senior Vice President, Chief Financial Officer

David M. Becker  (48)     Vice President, General Counsel and Secretary

Barry E. Gum (43)         Vice President, Finance and Treasurer

James L. Gutsch (56)      Vice President, Engineering

Ralph L. Moss (64)        Vice President, Governmental Affairs

David S. Oswalt (42)      Vice President, Taxation and Business Development

<PAGE> 14

Ty A. Tywater (40)        Vice President, Audit Services

John A. Virgo (49)        Vice President, Corporate Controller and
                          Chief Accounting Officer

Rodney K. Brenneman (45)  President, Seaboard Foods, LLC

David M. Dannov (48)      President, Seaboard Overseas and Trading Group

Edward A. Gonzalez (44)   President, Seaboard Marine Ltd.

Mr.  Steven  J. Bresky has served as President and Chief  Executive
Officer  since  July 2006 and previously as Senior Vice  President,
International  Operations of Seaboard from February  2001  to  July
2006.

Mr.  Steer  has  served as Senior Vice President,  Chief  Financial
Officer  of Seaboard since December 2006 and previously  as  Senior
Vice  President, Treasurer and Chief Financial Officer  from  2001-
2006.

Mr.  Becker  has  served  as Vice President,  General  Counsel  and
Secretary of Seaboard since December 2003.

Mr.  Gum  has  served as Vice President, Finance and  Treasurer  of
Seaboard  since  December 2006 and previously  as  Vice  President,
Finance from 2003-2006.

Mr.  Gutsch  has served as Vice President, Engineering of  Seaboard
since December 1998.

Mr.  Moss  has  served as Vice President, Governmental  Affairs  of
Seaboard since December 2003.

Mr.  Oswalt  has  served as Vice President, Taxation  and  Business
Development of Seaboard since December 2003.

Mr.  Tywater  has  served  as  Vice President,  Audit  Services  of
Seaboard  since  November  2008 and previously  as  Internal  Audit
Director from 2002 to 2008.

Mr.  Virgo  has served as Vice President, Corporate Controller  and
Chief Accounting Officer of Seaboard since December 2003.

Mr.  Brenneman  has  served as President  of  Seaboard  Foods,  LLC
(previously Seaboard Farms Inc.) since June 2001.

Mr. Dannov has served as President of Seaboard Overseas and Trading
Group since August 2006 and previously as Vice President, Treasurer
of Seaboard Overseas and Trading Group from 1996 to 2006.

Mr. Gonzalez has served as President of Seaboard Marine, Ltd. since
January 2005.

                              PART II

Item 5.  Market for Registrant's Common Equity, Related Stockholder
Matters and Issuer Purchases of Equity Securities

Seaboard's  Board of Directors intends that Seaboard will  continue
to pay quarterly dividends, with the actual amount of any dividends
being   dependant   upon  such  factors  as  Seaboard's   financial
condition,  results of operations and current and anticipated  cash
needs, including capital requirements.  As discussed in Note  8  of
the consolidated financial statements appearing on pages 44 and  45
of the Seaboard Corporation Annual Report to Stockholders furnished
to the Commission pursuant to Rule 14a-3(b) and attached as Exhibit
13  to  this  Report  (which discussion is incorporated  herein  by
reference),  Seaboard's ability to declare  and  pay  dividends  is
subject  to limitations imposed by the note agreements referred  to
there.

Seaboard  has  not  established  any equity  compensation  plans  or
individual agreements for its employees under which Seaboard  common
stock,  or  options,  rights or warrants with  respect  to  Seaboard
common stock, may be granted.

There  were  no purchases made by or on behalf of Seaboard  or  any
"affiliated  purchaser"  (as defined by  applicable  rules  of  the
Commission) of shares of Seaboard's common stock during the  fourth
quarter of the fiscal year covered by this report.

In  addition  to  the  information provided above,  the  information
required  by Item 5 of Form 10-K is incorporated herein by reference
to  (a)  the  information  under "Stockholder  Information  -  Stock
Listing," (b) the dividends per common share information and closing
market  price  range per common share information  under  "Quarterly
Financial  Data" and (c) the information under "Company  Performance
Graph"  appearing on pages 60, 9 and 8, respectively, of  Seaboard's
Annual  Report to Stockholders furnished to the Commission  pursuant
to Rule 14a-3(b) and attached as Exhibit 13 to this report.

<PAGE> 15

Item 6.  Selected Financial Data

The  information  required by Item 6 of Form 10-K  is  incorporated
herein  by  reference to the "Summary of Selected  Financial  Data"
appearing  on  page 7 of Seaboard's Annual Report  to  Stockholders
furnished to the Commission pursuant to Rule 14a-3(b) and  attached
as Exhibit 13 of this Report.

Item   7.    Management's  Discussion  and  Analysis  of  Financial
Condition and Results of Operations

The  information  required by Item 7 of Form 10-K  is  incorporated
herein  by  reference to "Management's Discussion and  Analysis  of
Financial Condition and Results of Operations" appearing  on  pages
10 through 24 of Seaboard's Annual Report to Stockholders furnished
to the Commission pursuant to Rule 14a-3(b) and attached as Exhibit
13 to this Report.

Item  7A.   Quantitative and Qualitative Disclosures  About  Market
Risk

The  information  required by Item 7A of Form 10-K is  incorporated
herein  by  reference  to  (a)  the  material  under  the  captions
"Derivative Instruments and Hedging Activities" within  Note  1  of
Seaboard's Consolidated Financial Statements appearing on pages  35
and 36 of Seaboard's Annual Report to Stockholders furnished to the
Commission pursuant to Rule 14a-3(b) and attached as Exhibit 13  to
this  Report,  and  (b) the material under the caption  "Derivative
Information"  within  "Management's  Discussion  and  Analysis   of
Financial Condition and Results of Operations" appearing  on  pages
23  and 24 of Seaboard's Annual Report to Stockholders furnished to
the Commission pursuant to Rule 14a-3(b) and attached as Exhibit 13
to this Report.

Item 8.  Financial Statements and Supplementary Data

The  information  required by Item 8 of Form 10-K  is  incorporated
herein  by  reference  to  Seaboard's "Quarterly  Financial  Data,"
"Report   of   Independent  Registered  Public  Accounting   Firm,"
"Consolidated   Statements  of  Earnings,"  "Consolidated   Balance
Sheets,"  "Consolidated  Statements of Cash  Flows,"  "Consolidated
Statements  of  Changes  in  Equity"  and  "Notes  to  Consolidated
Financial  Statements" appearing on page 9 and pages 26 through  59
of  Seaboard's  Annual  Report  to Stockholders  furnished  to  the
Commission pursuant to Rule 14a-3(b) and attached as Exhibit 13  to
this Report.

Item   9.   Changes  in  and  Disagreements  with  Accountants   on
Accounting and Financial Disclosure

Not applicable.

Item 9A.  Controls and Procedures

Evaluation  of Disclosure Controls and Procedures - As of  December
31,  2009, Seaboard's management has evaluated, under the direction
of   our   chief  executive  and  chief  financial  officers,   the
effectiveness of Seaboard's disclosure controls and procedures,  as
defined in Exchange Act rule 13a - 15(e).  Based upon and as of the
date  of  that  evaluation, Seaboard's chief  executive  and  chief
financial  officers  concluded that Seaboard's disclosure  controls
and  procedures were effective to ensure that information  required
to  be  disclosed  in the reports it files and  submits  under  the
Securities  Exchange Act of 1934 is recorded, processed, summarized
and  reported  as and when required.  It should be noted  that  any
system of disclosure controls and procedures, however well designed
and  operated,  can  provide  only reasonable,  and  not  absolute,
assurance  that the objectives of the system are met.  In addition,
the  design of any system of disclosure controls and procedures  is
based  in  part  upon  assumptions about the likelihood  of  future
events.   Due to these and other inherent limitations of  any  such
system,  there  can  be no assurance that any  design  will  always
succeed  in  achieving its stated goals under all potential  future
conditions.

Management's Report on Internal Control Over Financial Reporting  -
Information   required   by  Item  9A  of  Form   10-K   concerning
management's  report on Seaboard's internal control over  financial
reporting,   as   defined  in  Exchange  Act  rule   13a-15(f)   is
incorporated herein by reference to Seaboard's "Management's Report
on  Internal Control over Financial Reporting" appearing on page 25
of  Seaboard's  Annual  Report  to Stockholders  furnished  to  the
Commission pursuant to Rule 14a-3(b) and attached as Exhibit 13  to
this report.

Registered   Public   Accounting  Firm's   Attestation   Report   -
Information required by Item 9A of Form 10-K with respect   to  the
registered   public   accounting  firm's  attestation   report   on
Seaboard's   internal   controls  over   financial   reporting   is
incorporated   herein  by  reference  to  "Report  of   Independent
Registered  Public  Accounting  Firm"  appearing  on  page  27   of
Seaboard's   Annual  Report  to  Stockholders  furnished   to   the
Commission pursuant to Rule 14-3(b) and attached as Exhibit  13  to
this report.

<PAGE> 16

Change  in  Internal  Controls  -  There  has  been  no  change  in
Seaboard's internal control over financial reporting that  occurred
during  the  fiscal  quarter  ended  December  31,  2009  that  has
materially affected, or is reasonably likely to materially  affect,
Seaboard's internal control over financial reporting.

Item 9B.  Other Information

None

                             PART III

Item 10.  Directors,  Executive Officers and Corporate Governance

We  refer  you  to  the  information under the  caption  "Executive
Officers   of  Registrant"  appearing  immediately  following   the
disclosure in Item 4 of Part I of this report.

Seaboard  has  a  Code of Ethics Policy (the Code)  for  directors,
officers  (including our chief executive officer,  chief  financial
officer,   chief   accounting  officer,  controller   and   persons
performing  similar functions) and employees.  Seaboard has  posted
the  Code on its internet website, www.seaboardcorp.com, under  the
"About  Us"  tab  and  intends to disclose any future  changes  and
waivers to the Code by posting such information on that website.

In  addition  to  the information provided above,  the  information
required  by  Item  10  of  Form 10-K  is  incorporated  herein  by
reference  to (a) the disclosure relating to directors under  "Item
1:   Election  of  Directors" appearing on  page  5  of  Seaboard's
definitive proxy statement filed pursuant to Regulation 14A for the
2010  annual meeting of Stockholders ("2010 Proxy Statement"),  (b)
the  disclosure relating to Seaboard's audit committee  and  "audit
committee  financial expert" and its director nomination procedures
under "Board of Directors Information -- Committees of the Board --
Audit  Committee" and "Board of  Directors Information --  Director
Nominations"  appearing  on  pages  7  and  8  of  the  2010  Proxy
Statement,  and  (c)  the disclosure relating to  late  filings  of
reports required under Section 16(a) of the Securities Exchange Act
of   1934  under  "Section  16(a)  Beneficial  Ownership  Reporting
Compliance" appearing on  page 25 of the 2010 Proxy Statement.

Item 11.  Executive Compensation

The  information  required by Item 11 of Form 10-K is  incorporated
herein  by reference to (a) the disclosure relating to compensation
of  directors under "Board of Directors Information -- Compensation
of  Directors"  and "Employment Arrangements with  Named  Executive
Officers" appearing on page 8 and pages 11 and 12 of the 2010 Proxy
Statement,  and  (b)  the disclosure relating  to  compensation  of
executive   officers  under  "Executive  Compensation   and   Other
Information,"   "Benefit   Plans"   and   "Compensation   Committee
Interlocks  and  Insider  Participation,"  "Compensation  Committee
Report"  and  "Compensation Discussion and Analysis"  appearing  on
pages  9  and  10  and   pages 12 through  23  of  the  2010  Proxy
Statement.

Item  12.   Security  Ownership of Certain  Beneficial  Owners  and
Management and Related Stockholder Matters

Seaboard  has  not  established any equity  compensation  plans  or
individual agreements for its employees under which Seaboard common
stock,  or  options,  rights or warrants with respect  to  Seaboard
common stock may be granted.
In  addition  to  the information provided above,  the  information
required  by  Item  12  of   Form 10-K is  incorporated  herein  by
reference  to  the  disclosure under "Principal  Stockholders"  and
"Share Ownership of Management and Directors" appearing on pages  3
and 4 of the 2010 Proxy Statement.

Item  13.   Certain  Relationships and  Related  Transactions,  and
Director Independence

The  information  required by Item 13 of Form 10-K is  incorporated
herein by reference to the disclosure under "Compensation Committee
Interlocks and Insider Participation" appearing on page 22  of  the
2010  Proxy Statement, and the disclosure under "Board of Directors
Information  -  Controlled Corporation"  and  "Board  of  Directors
Information - Committees of the Board" appearing on page 7  of  the
2010 Proxy Statement.

Item 14.  Principal Accounting Fees and Services

The  information  required by Item 14 of Form 10-K is  incorporated
herein  by  reference to the disclosure under "Item 2 Selection  of
Independent Auditors" appearing on pages 23 through 25 of the  2010
Proxy Statement.

<PAGE> 17


                              PART IV

Item 15.  Exhibits, Financial Statement Schedules

(a)  The following documents are filed as part of this report:

  1. Consolidated financial statements.
     See Index to Consolidated Financial Statements on page F-1.

  2. Consolidated financial statement schedules.
     See Index to Consolidated Financial Statements on page F-1.

  3. Exhibits.

     3.1 Seaboard's    Restated   Certificate   of   Incorporation.
         Incorporated  herein  by  reference  to  Exhibit  3.1   of
         Seaboard's Form 10-Q for the quarter ended April 4, 2009.

     3.2 Seaboard's  By-laws, as amended.  Incorporated  herein  by
         reference  to  Exhibit  3.2 of Seaboard's  Form  10-K  for
         fiscal year ended December 31, 2005.

     4.1 Seaboard Corporation Note Purchase Agreement dated  as  of
         September 30, 2002 between Seaboard and various purchasers
         as   listed  in  the  exhibit.   Incorporated  herein   by
         reference to Exhibit 4.3 of Seaboard's Form 10-Q  for  the
         quarter ended September 28, 2002.

     4.2 Seaboard Corporation $7,500,000 6.21% Senior Note,  Series
         C,  due  September 30, 2012  issued pursuant to  the  Note
         Purchase  Agreement described above.  Incorporated  herein
         by  reference to Exhibit 4.6 of Seaboard's Form  10-Q  for
         the quarter ended September 28, 2002.

     4.3 Seaboard Corporation $31,000,000 6.92% Senior Note, Series
         D,  due  September 30, 2012  issued pursuant to  the  Note
         Purchase  Agreement described above.  Incorporated  herein
         by  reference to Exhibit 4.7 of Seaboard's Form  10-Q  for
         the quarter ended September 28, 2002.

     4.4 Amended and Restated Terminal Agreement between Miami-Dade
         County  and  Seaboard  Marine  Ltd.  for  Marine  Terminal
         Operations,  dated May 30, 2008.  Incorporated  herein  by
         reference to Exhibit 10.1 of Seaboard's Form 8-K dated May
         30, 2008.

     4.5 Amended  and  Restated Credit Agreement between  Borrowers
         and   Bank   of  America,  N.A.,  dated  July   10,   2008
         ($300,000,000 revolving credit facility expiring July  10,
         2013).   Incorporated herein by reference to Exhibit  10.1
         of Seaboard's Form 8-K dated July 10, 2008.

   10.1* Seaboard  Corporation   409A   Executive  Retirement  Plan
         Amended and Restated Effective January 1, 2009 and   dated
         December 22, 2008,  amending  and  restating  the Seaboard
         Corporation Executive Retirement Plan , 2005 Amendment and
         Restatement dated March 6, 2006.    Incorporated herein by
         reference  to  Exhibit  10.1 of  Seaboard's  Form 10-K for
         fiscal year ended December 31, 2008.

   10.2* Seaboard Corporation  Executive Deferred Compensation Plan
         as  Amended  and  Restated  Effective  January 1, 2009 and
         dated  December  22, 2008,  amending  and  restating   the
         Seaboard Corporation  Executive Deferred Compensation Plan
         dated December 29, 2005.  Incorporated herein by reference
         to  Exhibit 10.2 of  Seaboard's  Form 10-K for fiscal year
         ended December 31, 2008.

   10.3* Seaboard Corporation Executive Retirement Plan Trust dated
         November  5,  2004  between  Seaboard   Corporation    and
         Robert  L.  Steer  as  trustee.   Incorporated  herein  by
         reference to Exhibit 10.2 of Seaboard's Form 10-Q for  the
         quarter ended October 2, 2004.

   10.4* Seaboard   Corporation   Investment   Option  Plan   dated
         December  18,  2000.  Incorporated herein by reference  to
         Exhibit 10.7 of Seaboard's Form 10-K for fiscal year ended
         December 31, 2000.

    10.5 Marketing  Agreement dated February 2, 2004 by  and  among
         Seaboard Corporation, Seaboard Farms, Inc., Triumph  Foods
         LLC, and for certain limited purposes only, the members of
         Triumph  Foods LLC.  Incorporated herein by  reference  to
         Exhibit  10.2  of  Seaboard's Form 8-K dated  February  3,
         2004.

<PAGE> 18

   10.6* Seaboard  Corporation  Retiree  Medical  Benefit  Plan  as
         Amended  and Restated Effective January 1, 2009 and  dated
         December  22,  2008, amending and restating  the  Seaboard
         Corporation  Retiree Medical Benefit Plan dated  March  4,
         2005.  Incorporated herein by reference to Exhibit 10.6 of
         Seaboard's  Form 10-K for fiscal year ended  December  31,
         2008.

   10.7* Seaboard    Corporation    Executive   Officers'     Bonus
         Policy.  Incorporated herein by reference to Exhibit 10.10
         of Seaboard's Form 10-K for fiscal year ended December 31,
         2005.

   10.8* Employment  Agreement  between  Seaboard  Corporation  and
         Steven  J. Bresky dated July 1, 2005.  Incorporated herein
         by  reference to Exhibit 10.1 of Seaboard's Form 10-Q  for
         the quarter ended July 2, 2005.

   10.9* Employment  Agreement  between  Seaboard  Corporation  and
         Robert  L. Steer dated July 1, 2005.  Incorporated  herein
         by  reference to Exhibit 10.2 of Seaboard's Form 10-Q  for
         the quarter ended July 2, 2005.

  10.10* Employment  Agreement  between  Seaboard  Farms, Inc.  and
         Rodney  K.  Brenneman  dated July 1,  2005.   Incorporated
         herein by reference to Exhibit 10.3 of Seaboard's Form 10-
         Q for the quarter ended July 2, 2005.

  10.11* Employment  Agreement  between  Seaboard  Corporation  and
         Edward  A.  Gonzalez  dated July  1,  2005.   Incorporated
         herein by reference to Exhibit 10.14 of Seaboard's Form 10-
         K for fiscal year ended December 31, 2006.

  10.12* Seaboard  Corporation  Nonqualified  Deferred Compensation
         Plan Effective January 1, 2009 and dated December 22, 2008,
         amending  and  restating    the    Seaboard    Corporation
         Nonqualified    Deferred    Compensation    Plan     dated
         December  29,  2005.  Incorporated herein by reference  to
         Exhibit  10.12  of Seaboard's Form 10-K  for  fiscal  year
         ended December 31, 2008.

  10.13* Amendment   to   Employment  Agreement   between  Seaboard
         Corporation and Edward A. Gonzalez dated August  8,  2006.
         Incorporated  herein  by  reference  to  Exhibit  10.1  of
         Seaboard's Form 10-Q for the quarter ended July 1, 2006.

  10.14* Employment    Agreement   between    Seaboard     Overseas
         Trading  Group  and David M. Dannov dated  July  1,  2006.
         Incorporated  herein  by reference  to  Exhibit  10.17  of
         Seaboard's  Form 10-K for fiscal year ended  December  31,
         2006.

  10.15* Second   Amendment   to   Employment   Agreement   between
         Seaboard Corporation and Edward A. Gonzalez dated  January
         17,  2007.   Incorporated herein by reference  to  Exhibit
         10.18  of  Seaboard's  Form 10-K  for  fiscal  year  ended
         December 31, 2006.

  10.16* First   Amendment   to   Employment   Agreement    between
         Seaboard  Corporation and Steven J. Bresky dated  December
         15,  2008.  Incorporated herein by  reference  to  Exhibit
         10.16  of  Seaboard's  Form 10-K  for  fiscal  year  ended
         December 31, 2008.

  10.17* First   Amendment   to   Employment   Agreement    between
         Seaboard  Corporation and Robert L. Steer  dated  December
         15,  2008.   Incorporated herein by reference  to  Exhibit
         10.17  of  Seaboard's  Form 10-K  for  fiscal  year  ended
         December 31, 2008.

  10.18* First    Amendment    to   Employment   Agreement  between
         Seaboard Foods LLC, formerly known as Seaboard Farms Inc.,
         and   Rodney  K.  Brenneman  dated  December   15,   2008.
         Incorporated  herein  by reference  to  Exhibit  10.18  of
         Seaboard's  Form 10-K for fiscal year ended  December  31,
         2008.

  10.19* Third   Amendment   to    Employment    Agreement  between
         Seaboard Marine Ltd. and Edward A. Gonzalez dated December
         15,  2008.   Incorporated herein by reference  to  Exhibit
         10.19  of  Seaboard's  Form 10-K  for  fiscal  year  ended
         December 31, 2008.

  10.20* First   Amendment   to    Employment   Agreement   between
         Seaboard Overseas Trading Group and David M. Dannov  dated
         December  15,  2008.  Incorporated herein by reference  to
         Exhibit  10.20  of Seaboard's Form 10-K  for  fiscal  year
         ended December 31, 2008.

<PAGE> 19

   10.21 Asset Purchase Agreement by and among     Transcontinental
         Capital Corporation (Bermuda)  Ltd. (as Seller),  Seaboard
         Corporation (as Seller-Parent) and Pueblo Viejo Dominicana
         Corporation (as Buyer), dated  as  of  September 23, 2008.
         Incorporated  herein  by   reference  to  Exhibit 10.21 of
         Seaboard's  Form  10-K  for fiscal year ended December 31,
         2008.

   10.22 Amendment   to    Asset   Purchase    Agreement     amount
         Transcontinental  Capital  Corporation   (Bermuda)   Ltd.,
         Seaboard Corporation and Pueblo Viejo dated as of March 2,
         2009.   Incorporated herein by reference to Exhibit  10.22
         of Seaboard's Form 10-K for fiscal year ended December 31,
         2008.

  10.23* Seaboard    Corporation     Cash     Balance     Executive
         Retirement  Plan  effective  January  1,  2009  and  dated
         December 18, 2009.

  10.24* Seaboard   Marine  Ltd.  401(k)   Excess   Plan  effective
         January 1, 2009 and dated December 18, 2009.

  10.25* Amendment   No.  1   to   the  Seaboard  Corporation  Non-
         Qualified Deferred Compensation Plan effective January  1,
         2009 and dated December 17, 2009.

    13   Sections of Annual Report to security holders specifically
         incorporated herein by reference herein.

    21   List of subsidiaries.

    31.1 Certification of the Chief Executive Officer  Pursuant  to
         Exchange   Act  Rules  13a-14(a)/15d-14(a),   as   Adopted
         Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

    31.2 Certification of the Chief Financial Officer  Pursuant  to
         Exchange   Act  Rules  13a-14(a)/15d-14(a),   as   Adopted
         Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

    32.1 Certification of the Chief Executive Officer  Pursuant  to
         18 U.S.C. Section 1350, as Adopted Pursuant to Section 906
         of the Sarbanes-Oxley Act of 2002.

    32.2 Certification of the Chief Financial Officer  Pursuant  to
         18 U.S.C. Section 1350, as Adopted Pursuant to Section 906
         of the Sarbanes-Oxley Act of 2002.

  *  Management contract or compensatory plan or arrangement.

(b)  Exhibits.

See exhibits identified above under Item 15(a)3.


(c)  Financial Statement Schedules.

See  financial  statement  schedules identified  above  under  Item
15(a)2.

<PAGE> 20


                           SIGNATURES

Pursuant  to  the  requirements of Section 13  or  15(d)  of  the
Securities  Exchange Act of 1934, the registrant has duly  caused
this  report  to  be  signed on its behalf  by  the  undersigned,
thereunto duly authorized.

                      SEABOARD CORPORATION

By /s/Steven J. Bresky               By /s/Robert L. Steer
   Steven J. Bresky, President and      Robert L. Steer, Senior Vice President,
   Chief Executive Officer              Chief Financial Officer
   Executive Officer                    (principal financial officer)
   (principal executive officer)

Date: March 5, 2010                  Date: March 5, 2010



By /s/John A. Virgo
   John A. Virgo, Vice President,
   Corporate Controller and Chief
   Accounting Officer
   (principal accounting officer)

Date: March 5, 2010



Pursuant  to the requirements of the Securities Exchange  Act  of
1934,  this report has been signed below by the following persons
on  behalf  of registrant and in the capacities and on the  dates
indicated.

By /s/Steven J. Bresky               By /s/Edward I. Shifman, Jr.
   Steven J. Bresky, Director and       Edward I. Shifman, Jr., Director
   Chairman of the Board

Date: March 5, 2010                  Date: March 5, 2010



By /s/David A. Adamsen               By /s/Joseph E. Rodrigues
   David A. Adamsen, Director           Joseph E. Rodrigues, Director

Date: March 5, 2010                  Date: March 5, 2010



By /s/Douglas W. Baena
   Douglas W. Baena, Director

Date: March 5, 2010

<PAGE> 21



              SEABOARD CORPORATION AND SUBSIDIARIES
     Index to Consolidated Financial Statements and Schedule
                      Financial Statements


                                                            Stockholders'
                                                         Annual Report Page

Report of Independent Registered Public Accounting Firm          26

Consolidated Statement of Earnings for the years
 ended December 31, 2009, December 31, 2008 and
 December 31, 2007                                               28

Consolidated Balance Sheets as of December 31, 2009
 and December 31, 2008                                           29

Consolidated Statement of Cash Flows for the years
 ended December 31, 2009, December 31, 2008 and
 December 31, 2007                                               30

Consolidated Statement of Changes in Equity for the
 years ended December 31, 2009, December 31, 2008 and
 December 31, 2007                                               31

Notes to Consolidated Financial Statements                       32

The foregoing is incorporated herein by reference.


The   individual  financial  statements  of  the  nonconsolidated
foreign  affiliates, which would be required if each such foreign
affiliate  were a Registrant, are omitted because (a)  Seaboard's
and  its other subsidiaries' investments in and advances to  such
foreign affiliates do not exceed 20% of the total assets as shown
by  the most recent consolidated balance sheet and (b) Seaboard's
and  its other subsidiaries' equity in the earnings before income
taxes and extraordinary items of the foreign affiliates does  not
exceed   20%   of  such  income  of  Seaboard  and   consolidated
subsidiaries  compared to the average income for  the  last  five
fiscal years.

Combined   condensed   financial  information   as   to   assets,
liabilities  and  results of operations have been  presented  for
nonconsolidated  foreign affiliates in Note 5 of  "Notes  to  the
Consolidated Financial Statements."

II - Valuation and Qualifying Accounts for the years ended
     December 31, 2009, 2008 and 2007                            F-3

All  other  schedules are omitted as the required information  is
inapplicable  or the information is presented in the consolidated
financial statements or related consolidated notes.

<PAGE> F-1

     REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors and Stockholders
Seaboard Corporation:

Under  date  of  March 5, 2010, we reported on  the  consolidated
balance  sheets  of  Seaboard Corporation and  subsidiaries  (the
Company)  as  of  December 31, 2009 and  2008,  and  the  related
consolidated statements of earnings, changes in equity  and  cash
flows  for  each  of  the  years in the three-year  period  ended
December  31, 2009, as contained in the December 31, 2009  annual
report  to stockholders.  These consolidated financial statements
and  our  report  thereon are incorporated by  reference  in  the
annual report on Form 10-K for the year ended December 31,  2009.
In  connection with our audits of the aforementioned consolidated
financial  statements, we also audited the  related  consolidated
financial  statement  schedule, as  listed  in  the  accompanying
index.   This  financial statement schedule is the responsibility
of the Company's management.  Our responsibility is to express an
opinion on this financial statement schedule based on our audits.

In   our   opinion,  such  financial  statement  schedule,   when
considered  in  relation  to  the  basic  consolidated  financial
statements  taken as a whole, presents fairly,  in  all  material
respects, the information set forth therein.


                                   KPMG LLP

Kansas City, Missouri
March 5, 2010

<PAGE> F-2


<TABLE>
<CAPTION>
                                                                                  Schedule II

                            SEABOARD CORPORATION AND SUBSIDIARIES
                              Valuation and Qualifying Accounts
                                        (In Thousands)



                                        Balance at     Provision  Net deductions   Balance at
                                    beginning of year     (1)          (2)        end of year
<S>                                      <C>             <C>          <C>           <C>
Year ended December 31, 2009:

  Allowance for doubtful accounts        $  7,303        2,088        (2,061)       $ 7,330

Year ended December 31, 2008:

  Allowance for doubtful accounts        $  8,060          776        (1,533)       $ 7,303

Year ended December 31, 2007:

  Allowance for doubtful accounts        $ 14,638        1,401        (7,979)       $ 8,060

<FN>
(1)  The allowance for doubtful accounts provision is charged to
     selling, general and administrative expenses.

(2)  Includes write-offs net of recoveries and currency
     translation adjustments.

</TABLE>

<PAGE> F-3