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      12/7/07

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

            International news: China has sold over 6 myn mt of wheat internally the last 2 weeks, and will also auction off 19.7 myn bu of corn to ‘cool’ inflation. Egypt was in again last night and though it looked like the US may get a whiff, the deal was done in Russian. They booked another 4.2 myn bu same TOS as the other day. France has ‘banned’ commercial use of GMO products till at least February…timing seems a bit odd since it is winter…Another news article picked up on the Aussie wheat export program we mentioned the other day, numbers are a little different, result is the same. This article said that Aussie exported 11 myn mt last year with 6.2 myn mt coming from ‘carryover’ stocks. Even with larger crop this year, they will only have about ½ (6 myn mt or so) that amount available this year.

            US News: Farm bill moved to the floor for debate. IF a compromise is made, it is very unlikely that this bill will be WTO compliant…those will need to RE-ADDRESSED later. Focus right now seems to be on the number of amendments each side of the aisle can attach to this legis. The House did pass the energy bill, but it seems doubtful it will become law in current form…but perhaps a stripped down version? Main parts: increase fuel economy by 40%, increase MANDATORY use of bio-fuels by 5x by 2022. NOTE: Also contains language that would LIMIT ethanol produced from corn to 15 byn gallons (we are nearly there right now), balance would need to be “cellulosic”. Also includes $13 byn in tax subsidy ROLL BACKS to big oil. This money would be is supposed to be used to incent bio-fuel production and R&D.

            Yesterday weather man said La Nina will be around till spring, now he says longer. What does it mean? Well, 70% of the time we have a La Nina, the yields are below trendline in the Midwest, and 16 of the last 17 ‘droughts’ in the corn belt were preceded by droughts in the South, and we all know what is going on there right now.

***Didja Know: White ‘turkey’ meat is preferred in the US, most of the rest of the world prefers ‘dark’. Belgium and Netherlands have an ‘underground’ border that differs from the ‘above’ ground border, so as to not divide underground coal mines. The Taj Mahal was nearly tore down in the 1830’s for its marble. The only thing that saved it, was that marble wasn’t worth enough to offset the cost of demolition.

HAVE A GREAT WEEKEND