Duane Disque or Brian Peiler                              Jon Sperl or Bryce Olson

             1-800-452-7396 or 541-989-8221                           1-800-422-7611 or 541-276-7611

              or Dan Steiner 481-6614 (office), 571-3798 (cell)  graingrowers@centurytel.net

                                                            GOOD MORNING!!!          

            Below are the best indicated market bids as of:   9:00  on      3/ 9/ 10

***NOTE:  Corn values vary depending on delivery location PLEASE call for updates.

            Futures called lower, opened that way, and never recovered. US $$ is higher, Corn and most wheats are down 4-5. Focus is now on tomorrow?s USDA report. Most traders are expecting slightly lower carryouts (the average trade guess is 1.71 byn bu)?mine is smaller. Wheat c/o unch?d at 971 myn bu. Can?t hardly believe its time to start getting crop reports already: Texas corn is 6% planted vs. a 5 yr avg of 17%. Kansas wheat crop is rated 60% G-Ex vs. 45% this time last year. Total so far, we have seen 12.700 caks delivered against corn (63.5 myn bu) and 5400 cak of SRW (27 myn bu). We talked briefly yesterday about the new ?Volatility caks?, these new caks or hedge instruments will allow investors to move away from ?directional? or LONG ONLY trades. If you have been paying attention, being long has been wrong for the most part the last few years. When you ?roll? your position in a carry market, it costs money?LOTS of it!! These new caks will allow hedge funds to effectively trade both sides. So it seems to me that volatility will increase?and the comfort/ stability of the index funds position of ?long only? approach will end. ?there is a time to be long and a time to be short??

            The hearing on the GMO sugarbeets is over, but the judge has delayed his decision. Time is short however, cuz many acres will be planted to beets this month.

            Russia says they will resume intervention grain purchases (again think of this as similar to our old reserve program). Russia has also started talks with Belarus and Kazakhstan to create/ use a unified currency, and has also suggested that CIS members (Commonwealth of Independent States, or parts of the old Soviet Union) step up cooperation on global markets (read GRAIN). This may be joint use of rail assets, export houses, ports etc. The CIS members produce about 12% of the world?s wheat, yet account for about 30% of the wheat exports. The Aussie Bureau of Meteorology says that the current El Nino, while weakening, is likely to stick around till July.

            A special CONGRATULATIONS to the STATE CHAMPION Imbler Lady Panthers basketball team on an undefeated season!!! Thanks Matt!

***Didja Know: When George Washington and John Adams were inaugurated as President of the US, the capitol was still in Philadelphia? In Russia, instead of birthday cake, many kids get birthday pie? Orchids have some of the smallest seeds?it takes 1,250,000 of them to weigh an 1 gram?

             Duane Disque or Brian Peiler                              Jon Sperl or Bryce Olson

             1-800-452-7396 or 541-989-8221                           1-800-422-7611 or 541-276-7611

              or Dan Steiner 481-6614 (office), 571-3798 (cell)  graingrowers@centurytel.net

                                                            GOOD MORNING!!!          

            Below are the best indicated market bids as of:   9:00  on      3/ 8/ 10

***NOTE:  Corn values vary depending on delivery location PLEASE call for updates.

            Futures called higher, wheaties started out higher, retreated and are now marching again. Corn traded lower all morning, and is just now getting into positive territory. COT report showed the specs short 105 myn bu of wheat, while the funds are still packing 880 myn bu long. In corn, it is easy to see some ?spring premium? added to the corn futures with the specs long 440 myn bu and apparently just waiting for market making news one way or the other. Tendency this time of year is for upside volatility even if the fundamentals are bearish. Traders will trade news and worry about the fundamentals AFTER the corn is in the ground and growing. SWW bids are very interesting this morning, even more than usual. Generally we try to report the ?Best Bid? or what we believe is a ?TRADEABLE? number, but this morning we have an exporter out for March,  but then is  basically even money April through December. While another one is bidding -.15 to -.20 for old crop SWW but is bidding +.35 vs. the other exporter for OND. Generally the exporter bids are closer to one another. Last year the CME offered ?snow contracts? as a way to lay off risk of snow fall. This year they will offer ?volatility contracts? as a way to try to manage risk/ volatility in the marketplace. The CME also bot out the DJ indexes (formerly owned by DJ and the WSJ..Wall Street Journal). Obama continues to look at Ag subsidies for cuts. Sec of Ag Vilsack says the potential cuts would only impact the ?wealthy? farmers (or about 32,000 growers out of 1.4 myn registered farms). I can tell you that you do NOT need to be viable to be registered as a ?farm??the bar is set pretty low.

            Shipment report was rated ?GOOD? for wheat with 20 myn bu shipped (our pace was 15.4). Corn was disappointing?.again?.only 34.6 myn bu shipped vs. a pace of 46 myn bu.

            Corn harvest has slowed in Argie due to rain, but quality and yields look to be VERY GOOD. India says that their stocks on hand are at 18.4 myn mt vs. an original target of 8.4 myn mt. Brazil released the list of goods that they will target for retaliation of ?excess US cotton subsidies?. Cotton and cotton products are on the top of the list with 100% tariff. 50% tariff on US cars with small engines and 36% tariff on methanol are at the top of the list.

            CONGRATULATIONS to Nixaiwaii boys (4^th), Heppner girls (4^th) and Helix girls (2^nd)! AWESOME job!! The 5A will start Wednesday; GOOD LUCK to the Hermiston Girls and Pendleton Boys who have made the State brackets!

             Duane Disque or Brian Peiler                              Jon Sperl or Bryce Olson

             1-800-452-7396 or 541-989-8221                           1-800-422-7611 or 541-276-7611

              or Dan Steiner 481-6614 (office), 571-3798 (cell)  graingrowers@centurytel.net

                                                            GOOD MORNING!!!          

            Below are the best indicated market bids as of:   9:00  on      3/ 5/ 10

***NOTE:  Corn values vary depending on delivery location PLEASE call for updates.

            Trend said higher, early call by traders said higher, but wheaties are down 1-4 and corn is off 1-2 this morning. Weather man says that El Nino is weakening, but will likely linger, bringing more rain to the plains and the Midwest. Southern plains have a chance of 75% coverage of rain this weekend. Weather man also says NO frost worries for at least the next 2 weeks. Old timers rule of thumb is if you make it past the full moon in April, chances are virtually nil on winter kill. (April?s full moon is the 28^th). Informa said the Argie corn crop is 21 myn mt, and beans at 55 myn mt. They are holding Brazil unch?d with 66 myn mt bean crop and 53.3 myn mt corn crop. All are within trade guesses, no surprises. The Informa numbers seem to generally run a little bigger than USDA?s, these are no exception. There were another 1700 corn caks delivered, bringing total deliveries to over 10,000 caks or 50 myn bu! There were about 480 caks of wheat delivered.

            Estimates of ethanol profitability continue to decrease with many models showing a net -.11/ gal margin, but the blenders are still making money.

            No real international news. India figures that their wheat crop is made and have officially lifted export ban. They simply don?t have enough storage/ space to put the crop with their current carryovers. Shipping will be a logistical challenge?but the wheat will move at some price vs. going out of condition. The trade team representing US poultry will get sent home empty handed after all. Earlier it looked like resolution of the poultry issue would be easy and very near complete. As it turns out the pork issue did get resolved, and exports of US pork to Russia will resume directly, but the poultry issue was never finalized.

            Coming up: March 10 is the next USDA report, March 31 is the Prospective Plantings report. AVERAGE guess for the August average $4.798?a dime under last year?s CRC. The high guess was $9, the low guess was $3.37. 40% of the guesses were between $4.20 and $4.60

***Didja Know: Scientists have discovered a ?methane leak? from below the permafrost of Siberia. It is estimated that over 8myn mt of methane leaks out / year. This ?leak? is approximately equal to the annual world estimate that they had been using up to now.

HAVE A GREAT WEEKEND?and GOOD LUCK to the local Basketball TEAMS STILL PLAYING!!!!

             Duane Disque or Brian Peiler                              Jon Sperl or Bryce Olson

             1-800-452-7396 or 541-989-8221                           1-800-422-7611 or 541-276-7611

              or Dan Steiner 481-6614 (office), 571-3798 (cell)  graingrowers@centurytel.net

                                                            GOOD MORNING!!!          

            Below are the best indicated market bids as of:   9:00  on      3/ 4/ 10

***NOTE:  Corn values vary depending on delivery location PLEASE call for updates.

            Lets see its an even numbered day that means that futures will be lower?.yup. The futures have been flopping 10-15 every other day now for the last 8 days. Right now, I agree with the spec position?be a little long going into next weeks corn report, and then into the prospective planting report on the 31^st, and maybe just stay long more or less till spring planting gets well underway. Stay on the short side of wheat?.This morning EU wheat futures for milling grade wheat were trading LOWER than corn imported from the US?so if you were a pig farmer in France, you could feed milling quality wheat to your pigs cheaper than you could buy US corn. Aussie is expecting that overall their 2010 wheat crop will be a little smaller than last year?first estimate that I have seen says an estimate of 20 myn mt. Means NOTHING today, but it does drive a stake in the ground and gives us something to work off of. It also sets a benchmark to measure how accurately ABARE can predict crop size 10 months in advance. One other piece of international news: Russia did lift their ban of US hogs, no word on poultry yet?but it should be coming soon. Remember that Russia wants be self sufficient in hogs/ poultry within 5 years anyway. At the rate they are going, producing the grain to feed the livestock should not be a problem.

            Since delivery started on the March contract, there have been about 8300 caks (41.5 myn bu) delivered against futures the last 5 days. That?s a pretty sizeable amount, in Chicago wheat there have been 25 myn bu delivered. Pretty heavy deliveries, come July, with these carries, the storage bill will get expensive. Sales report this morning showed solid corn sales of 32.8 myn bu, but the wheat sales were nothing short of terrible, barely registering a pulse with only 3.8 myn bu in sales. We only had 1 myn DNS, 2 myn HRW, .7 SRW and a measly 100,000 bu of SWW sales (less than 1 barge amount). Obama wants to cut farm subsidies and crop insurance, but the House AG committee voted overwhelmingly to ?NOT? open the farm bill up. KSU researchers have found 5 natural plant populations of Kochia that are glyphosphate tolerant. First plants were found in ?07. There are now 17 known plant species world wide that are glyphosphate tolerant.

             Duane Disque or Brian Peiler                              Jon Sperl or Bryce Olson

             1-800-452-7396 or 541-989-8221                           1-800-422-7611 or 541-276-7611

              or Dan Steiner 481-6614 (office), 571-3798 (cell)  graingrowers@centurytel.net

                                                            GOOD MORNING!!!          

            Below are the best indicated market bids as of:   9:00  on      3/ 2/ 10

***NOTE:  Corn values vary depending on delivery location PLEASE call for updates.

            $ is off just a bit this morning, crude is higher, but grains cannot seem to muster much strength, with corn off 2-5 and wheats off 2-6. 1685 more corn caks delivered in Chicago and 1550 wheat caks. With today?s carry, the stops can sell the deferreds (March of ?11 is .87 higher than March ?10) and easily pay the storage and interest. At any rate, they will have the wheat. Japan will tender for their regular weekly tender. Aussie, Canada are expected to be in the fray. ? way through the corn marketing year and we have only shipped 803 myn bu of corn?at this pace, we will miss USDA export projections by 400 myn bu?with Brazil and Argie both having huge crops (and presumably good quality). Environmental groups are suing the US Fish and Wildlife for allowing farmers to grow GMO crops on refuge land (the complaint is that GMO crops are not safe for wildlife). To my knowledge there has never been a successful case establishing approved GMO crops are not safe. They want the Fish and Wildlife to do EIS (which is not in the budget). Environmental Impact Statements take along time to complete and are very expensive. US/ Russian poultry dispute could be over as early as today, or at least this week?great news for the poultry industry?and feed industry, and grain industry?.Growers in the Northern plains are willing to look past yield prospects if they can find varieties that produce more protein. The protein scales have not narrowed since harvest, and likely won?t till the red wheat crops of the northern states is defined. High yields do NOT offset protein discounts like we?ve seen this year.

            The EU commission has cleared the way to allow acceptance of 5 GMO products. It will now be up to each member state to accept/ reject them. Monsanto has 3 corn varieties that have been ?commission? approved. Also there is a potato variety developed by BASF (German based company) that has been accepted. Since Germany has traditionally taken such a hard stand against GMO products, it will be interesting to see whether this potato variety can gain German acceptance. Ukraine wheat exports are down 48% vs. this time last year. Kazakhstan has an agreement to ship 5.5 myn bu/ month to China. COFCO reported that the Chinese gov?t has also allowed wheat shipments from Kazi to Japan, SK, Thailand and Malaysia. ABARE is estimating 2010-11 wheat production up 1%, and exports up 4% (due to lower export numbers this year?they figure they will make up for it next year).

             Duane Disque or Brian Peiler                              Jon Sperl or Bryce Olson

             1-800-452-7396 or 541-989-8221                           1-800-422-7611 or 541-276-7611

              or Dan Steiner 481-6614 (office), 571-3798 (cell)  graingrowers@centurytel.net

                                                            GOOD MORNING!!!          

            Below are the best indicated market bids as of:   9:00  on      3/ 1/ 10

***NOTE:  Corn values vary depending on delivery location PLEASE call for updates.

            Lots of ground to cover this morning?Futures called higher on just some follow thru buying, but started lower, and then dropped sharply about 9:00. Futures are getting clobbered this morning.  SWW bids range .20 from exporter to exporter, the numbers are all over the board. The US $ is much stronger. Though the shipment report showed ?ok? numbers, they were really just ok. Corn shipments were 39 myn bu, but we need to AVERAGE 46 myn bu the balance of the year to balance the books. Wheat shipments were 17.7 myn bu?very solid, but not great. 3.1 myn bu was SWW, 7.9 HRW. On the down side, Iraq reportedly booked 13.9 myn bu of Russian, Canadian and Aussie wheat, NO US wheat in the mix. COT report showed the specs were very active last week booking 100 myn bu of corn, and the funds also extended their length, the market is being called ?overbot? at this time. In wheats the funds sold some futures and the specs bought in part of their short. The only fundamental change in wheat/ corn is increased ethanol production. Margins are very good, and US ethanol production hit 787,800 bbl/ day?puts us on pace for 12 byn gallons of ethanol/ year. The original goal was 15 byn gallons by 2015. Deliveries and re-deliveries continue, with at least another 2,000 caks of corn delivered against futures. Re-deliveries indicate the original stops turned the corn back. USDA will have another CRP signup. CRP acres in the US are at 31.4 myn acres with about 4.4 more set to expire. USDA says they would really like to keep about 32 myn acres in the program. A group of organic beet producers have asked a Federal judge in San Francisco to halt plantings of GMO beets. In the last 2 years Monsanto has seen GMO beet production ramp up to 95% of all the beets raised in the US. The ruling could impact up to a myn beet acres from Oregon to Michigan?but they are not stopping there, they are also seeking to stop sale of the sugar produced from those beets. Sounds like it fringe radical group, but since they are using the Fed court in San Fran, just about anything is possible?and could also set a precedent for other crops.

            Gavilion (used to be known as Peavey) will finish completion of 1.3 myn bu elevator in Okie. This is one but a very few domestic elevator projects in the US. They expect to be complete and running by harvest. Gavilon is also a part owner of the ?Kalama? export elevator. Water levels have recovered and much of California will get 100% of water allocation this year (some will only get a 30% allocation). 300,000 acres in Cali last year went without any water.

             Duane Disque or Brian Peiler                              Jon Sperl or Bryce Olson

             1-800-452-7396 or 541-989-8221                           1-800-422-7611 or 541-276-7611

              or Dan Steiner 481-6614 (office), 571-3798 (cell)  graingrowers@centurytel.net

                                                            GOOD MORNING!!!          

            Below are the best indicated market bids as of:   9:00  on      2/ 26/ 10

***NOTE:  Corn values vary depending on delivery location PLEASE call for updates.

            US $$ is down a bit, specs are covering shorts and grains are up on tech trading. Corn is up 6 (gaining some influence by upcoming flooding in the upper Midwest), and also concern over changes on upcoming USDA reports. Wheats are up 12-15 as specs must come in and pick up their short positions. Fundamentally nothing has changed in wheat or corn. There were 2000 caks of March corn already delivered, and 1300 caks of Chicago wheat. Technically, the markets are flashing ?overbought? signals, but I think there is still some room on the upside, particularly in corn. Although the fundamentals are against us, we have the nature of the specs crowd and too much spring weather to battle through. Price spikes to the upside seem like a safe bet till the crop is planted. Remember lock closure for the river this year is 3/6 thru the 27^th.

            International news: China says up to 40% of their rice crop could be GMO this year. They are planting more than 20 different GMO crops right now, and could be the first to commercially release GMO wheat (commercially available within 5 years). You know my position on that. Russia is targeting Asian countries, with a goal to increase sales by 6x todays levels. The plan is to rail high quality milling wheat from Siberia to Korea/ Japan. A Korean delivery would only be a 1 day shipment, 2 days for Japan. Competition for our best wheat customers is going to heat up, even with our stable supply and excellent quality, we will have to battle freight and the value of the $$. Every article coming from SAM says the same thing, bigger bean/ corn crops. They must be getting close to a final estimate, because the increases are getting smaller.

***Ag Didja Know: California is the #1 dairy state in the US? Wisconsin is #2 and closing (milk and cheese prices continue slide). Chinese soybean demand from the US last year so far was 22.93 myn mt, the other 39 countries we sell beans to bought 12.53 myn mt. US ethanol plants are running at about an estimated 92% capacity (current oil refining capacity is in the upper 70?s). John Deere has over $1.1 Byn invested in wind projects

HAVE A GREAT WEEKEND!!!

GOOD LUCK to the LOCAL BASKETBALL TEAMS STILL PLAYING!!!

             Duane Disque or Brian Peiler                              Jon Sperl or Bryce Olson

             1-800-452-7396 or 541-989-8221                           1-800-422-7611 or 541-276-7611

              or Dan Steiner 481-6614 (office), 571-3798 (cell)  graingrowers@centurytel.net

                                                            GOOD MORNING!!!          

            Below are the best indicated market bids as of:   9:00  on      2/ 25/ 10

***NOTE:  Corn values vary depending on delivery location PLEASE call for updates.

            It?s that time of year again??What will the AVERAGE AUGUST price be???guesses must be in by 3/1.

            NOTE: Due to market lack of interest, I dropped February and rolled everything forward 1 month!!! The $$ is higher, crude is off nearly $3. Grains are getting beat with corn down a nickel and Chicago down 11, KC and Mpls are down 7-8.  The export sales report this morning offered no encouragement. The corn numbers were sad. Traders ?HOPING? for 22-31 myn bu only got 15.8 myn bu?far short of USDA projections. Wheat sales weren?t bad with 13.8 myn bu sold, but again the problem in wheat and corn is actual shipments. Corn has plenty of time to catch up, but wheat only has about 14 weeks left in the ?09-10 year. Exporters are reporting very little interest/ activity. The MGEX will reduce their margin requirements since volatility has diminished. An FYI: there are about 66 myn bu of wheat under loan and 786 myn bu of corn?FND is Friday.

            Russia says their grain stocks are sitting at 20 myn mt vs. 23 myn last year. They have a goal to expand exports by 32% over the next 5 years. An increase that size equates to about 22 myn bu.  I expect they will turn their focus on the Asian/ Far east markets, and attempt to carve some market share from there next. The IGC (Int?l Grains Council) increased last years production up 1 myn mt, but also said they expect the ?10 crop to be about 16 myn mt (about the size of the exportable quantity of Aussie) smaller. So after their report old crop fundamentals took another hit. New crop they see the EU likely with a small increase, and Ukraine/ Russia with small decrease in production. Interesting article from ?down under?. The AWB said they are concerned that if the Aussie grain industry does not improve grain quality, Aussie could lose market share. (Sounds a bit like chicken little to me). They want a regulator to control Aussie grain quality (again 1 entity in charge of the wheat industry).

            The March prospective plantings report ought to be interesting, if for no other reason than to compare ?private estimates?. Generally growers ?back east? will plant beans when the corn / bean px ratio is 2.29 or better (beans worth 2.29x more than corn). Today for new crop the ratio is 2.28. In the last few years the ratio has run from 1.85 to 3.09. So for what the market is offering for n/c, there isn?t an advantage one way or the other today.

GOOD LUCK to the LOCAL BASKETBALL TEAMS STILL PLAYING!!!