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      1/15/08

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

            The rally seemed to take a breather overnight, and paused for a moment this morning before getting its legs underneath itself. Currently near by beans are down 5-6 with deferreds up 11-15, corn is slightly lower 1-3 all across the board, with wheat leading the charge. Nearby delivery months are up 20-25, with the deferreds up the limit once again. US $$ is lower…again…which helps exports.

            Export slate is pretty busy: Iran is tendering for US Barley/ Corn, SK is tendering for 1.7 myn US wheat, Jordan is tendering for 3.6 myn bu of ‘optional origin’, Turkey is tendering for 7.2 myn bu, Japan is in for their weekly tender looking to buy 5.5 myn bu of various classes of wheat. Paki has extended its tender deadline again, moving the tender date back to the 21^st. They originally started on the 12^th, reconfigured and moved it to the 16^th, and now have moved back to the 21^st presumably to give sellers more time to organize offers.

            Agrium will re-file its merger papers with UAP to give the DOJ more time to review. This would create the largest fertilizer company in North America.

            GM hopes that building a fleet of E-85 will cause more E-85 pumps to be installed. Meanwhile the railroads have been busy working on the infrastructure issues. CSX plans to build 3 more terminals capable of handling 80-85 car trains in the South west/ South east this year. They have 5 plants already in the NE. UP says that they will build “several more” terminals capable of handling unit trains of ethanol. It does take a while to get things ramped up, but perhaps the new energy bill just passed gives them confidence that this thing is not going away anytime soon.

            Chuck Conner responded to the recent markets by saying he does NOT see CRP as a land reserve where acres can go in/ out based on market conditions. It is an environmental program. Even so he expects that CRP will lose about 2 myn acres this year that were due up for renewal.

***Didja Know: When ‘Coca Cola’ was introduced in 1866, it was advertised as a ‘brain tonic, and intellectual beverage’? 28% of Africa is ‘wilderness’, while 38% of North America is so listed. In time for elections: “It is not enough to have every intelligent person in the country vote for me. I need a majority”

Adlai Stevenson