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      1/14/08

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

            Corn, Wheat and Beans were all called up hard. Going home Friday there were 17,000 UNFILLED BUY orders in the KC. Soooo this morning we are up the limit in corn (all option periods through at least July of ’09). Chicago, KC and MPLS are also locked the limit up in all option months from this March through all of ’08 and into ’09. Many more are questioning the USDA numbers. Friday there was no one to answer, but this morning they did offer sort of an explanation on the disappearance of 300 myn bu of corn. USDA says that the feed/ residual is an estimate, and that they basically ‘back into that number to balance the books’. There is some speculation that some early harvested corn might not have been counted as ’07 crop. The result is this: Signal sent to the market place. Essentially corn carryouts will NOT increase this year, even after the huge record crop of ’07…and that to keep the S&D’s in balance, we cannot lose 1 corn acre. No explanation was offered on wheat where HRW actually showed a 1% decline in planted acres. Already there is talk that the Midwest could see a hard drought this summer….which begs the question “WHAT IF”?????? Would/ Could corn trade at $8? Beans $15-16? Stocks are in perilous situation.

            Argie is still hot/ dry. Corn demand is still strong. SK came in and booked another jag of corn (4.6 myn bu) over the weekend. Ukraine wheat exports are only running 50% vs. last year. German wheat acres are up 6.3%. European crop is listed in Good condition. India/ Paki wheat is heading right now, should be ready for harvest late Feb/ early March. The EU deadline to comply with WTO on GMO expired quietly on Friday. Export Inspection report showed continued strong shipments of 50.2 myn bu of corn, and 21.4 myn bu of wheat.

            Acting Sec of Ag Chuck Connor said that if the farmers want a successful Farm Bill they will have to concede more. Pres. Of Farm Bureau said…nope, they have given enough.

***Didja Know: Home Remedies: 1) Avoid cutting yourself while slicing vegetables by getting someone else to hold you while you chop. 2) You only need 2 tools: Duct tape and WD-40. If it doesn’t move and it should; use WD-40, if it moves and it shouldn’t, use duct tape. 3) If you can’t fix it with a hammer, you’ve got an electrical problem.