Morrow County Grain Growers                             Pendleton Grain Growers

             Duane Disque or John Ripple                                      Jon Sperl

             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      12/10/07

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

            US NEWS: tomorrow is Gov’t report day. Last year, the USDA kind of blind sided the corn market, by dropping production estimates by some 300 myn bu. Could happen again this year, but even if the USDA tweaks production/ yield numbers downward to say 12.9 byn bu or 149 bpa…there will be NO shortage of corn between now and next fall’s harvest unless we have absolutely HUMONGOUS sales. In fact the specs are figuring on USDA ‘trimming’ those production estimates. The potential problem comes when you start to pencil whip the numbers for the fall of 2009. Those stocks will be based on plantings/ production events that happen THIS spring/ summer. Right now the average trade guess is figuring on a corn carryout this fall of 1.897 byn bu (plenty), and 312 myn bu of wheat (both basically unch’d from November estimates). Once again the southern plains (HRW) saw less than hoped for precip over the weekend. Export shipments were once again very strong for the last week with corn hitting 38.4 and wheat at 26.6 myn bu; 9.7 DNS, 8.4 HRW, 2.2 SRW 4.1 SWW and 1.4 Durum. Senate may vote on recent House ‘energy’ bill next week. Senate Republicans oppose energy mandates (increasing CAFÉ standards), eliminating tax breaks for big oil, and and renewable energy mandates. White House said it would veto current bill. Implications for the grain industry are obvious, and very far reaching….

            EU wheat futures hit new highs up 2.5% overnight, stocks are just that tight. The Aussie Ag minister said that without adopting new technology, that ag output could decline by 20% by 2050 in Aussie. World wheat prices are 2x higher than the average price since 1974…in a year when according to the IGC, the world harvested record large crops. Increased demand from bio-fuels, improved diets in China/ India are creating huge pull, meanwhile the EU commission has not adopted any new GMO products since 1998, and their ZERO tolerance policy on ‘unapproved’ products has food prices soaring. The ability to source products ‘approved’ by commission is proving very difficult/ expensive.

***Didja Know: In Denmark there are 2x as many pigs as people? Giant anteaters in South America can eat up to 30,000 ants/ day? Garth Brooks used to be a sell shoes/ boots in a shoe store before ‘hitting it big’. You can literally die from lack of sleep? It would require a tree about 100’ tall, 16” in diameter, to produce the amount of paper an average US adult uses/ year….