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Morrow County Grain Growers |
Pendleton Grain Growers |
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Duane Disque Or John Ripple |
Jon Sperl |
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1-800-452-7396 or 541-989-8221 |
1-800-422-7611 or 541-276-7611 |
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or Dan Steiner 481-6614 (work), 571-3798 (cell) graingrowers@centurytel.net |
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GOOD MORNING!! |
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Below are the best indications available as of: |
9:00 |
1/30/08 |
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SWW |
SRW |
DNS |
HRW |
Barley |
Corn | |||||||||||
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Month |
Portland |
Chicago |
Portland |
Basis |
Portland |
Basis |
Portland |
Cash Px |
Basis | |||||||
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February |
13.50 |
14.53 |
2.39 |
10.76 |
1.38 |
265 |
195 |
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March |
13.50 |
14.57 |
2.43 |
10.78 |
1.40 |
267 |
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April |
13.50 |
14.61 |
2.47 |
10.83 |
1.45 |
269 |
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May |
13.50 |
9.37 CKW |
14.61 |
2.47 |
10.88 |
1.50 |
270 |
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June |
2 |
1.50 |
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JULY |
9.15 |
8.63 CNW |
11.80 |
.65 N |
9.93 |
.55 N |
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AUGUST |
9.05 |
8.71 CUW |
11.15 |
90 U |
9.95 |
.50 U |
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O N D |
+.04/ mo |
CZW |
192 |
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LDP's |
-12.01 |
-10.70 |
-6.50 |
-3.78 |
-2.63 |
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***Club premium: .00/ bu. |
-.02/ 1/4 |
-.05/ 1/2 |
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***
NOTE: Corn bids vary depending on point of delivery. Please Call for Updates. Only one exporter submitted bids for SWW. They seem a bit low, but at least it’s a bid. With more than 5 months till combines hit the fields in earnest in the PNW, the chances that the market will need to buy wheat is excellent. Today I would advise patience on old crop. New crop still deserves consideration. US crop scores still are not rated very high or even close to last years scores. Futures are getting pounded again this morning. KC is down 22-30, Chicago is down 20, Mpls which was expected to be up the limit is instead down the limit. It is quite amazing that even when you expect wild volatility that we might consider a "calm" market is one that does not limit one way or the other during the day!!!Argie will reopens exports on 2/15. Jordan postponed their tender till 2/5. Brazil actually needs the rains to quit. They are nearly at the point where rain will start to hurt yield/ quality on their beans. Aussie continues to get wet…and world wide (other than the US) world wheat conditions are better than average. Even with record tight supplies, one has to ask where wheat prices might be if the world produced 1.4 + byn bu more in 2008 than 2007? Where might wheat prices be on Sept. 15? Dec 15?
KCBT says that they are not for sale, but that if someone (CME) were to take a run at them (buy em out), they would listen. Rumor mill has the CME targeting the KCBT. As we see more and more consolidation in the financials you have to ask…is it good for grain? The thing we need to watch is to see what the relationship between the cash markets and whatever becomes of our futures markets.
***Didja Know: 50 years ago the average US household spent about 1/3 of take home pay on food, vs. about 15% average today. The ‘Milky Way’ is about 100,000 light years in diameter, and about 10,000 light years thick
***All bids are subject to change, please call for CONFIRMATION of prices. All information in this letter is from sources deemed reliable, and is for informational purposes only***
