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      1/29/08

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

            Early call was for everything to be up following energies, metals, equities and lower dollar. Initially the futures roared out of the gate with wheats up the limit, but ***UPDATE***things have turned ugly in the wheat pits. Early limits up and now gone to limits down. No SWW bids from Portland. Currently no SWW customers, and certainly NO way to hedge purchases. Exporters feel the safest place right now is on the sideline and let things settle down. Taiwan is tendering tonight for 3 myn bu, Jordan, Paki, Tunisia and Morocco are all in as well.

            Runup in corn has hurt Tyson’s biz as they reported 4^th quarter profits down 40%. They are talking with COFCO the largest Chinese foods/ oils importer/ exporter. Goal is to grow pork exports. We have had trouble shipping the Chinese corn, but perhaps we can ship them corn through pork. The Chinese have had numerous disease issues, and pork demand has been extremely strong.

            Last July the CME (Chicago Mercantile Exchange) merged with the CBOT creating a new CME. Now the CME is in talks to merge with the NYMEX. The new exchange would account for 95% of US volume in futures/ options and handle everything from livestock, currencies, T-Bills, Stock Indexes, Fuels etc.

            Brazil is will likely drop their wheat import duty to encourage more wheat imports. With old crop stocks of wheat incredibly tight everywhere it may seem a little late, but since they get the vast majority of their wheat from Argie, and Argie is just now considering opening wheat exports again, it may work out very well for them.

***Didja Know: 80% of all US purchases are done on credit? An average of 200 million credit cards are used daily in the US? Americans charged over $480 byn in 1990 $1 myn/ minute….There are 3 tracks on the magnetic strip. The first holds your name, expiration date, card type. The second holds account number, start date etc. and the third is for ATM’s.