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      1/8/08

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

            Egypt was tendering for FH Feb, but cancelled the tender saying “prices are too high!!”. Well they certainly won’t like today’s numbers any better. Japan is tendering for March/ April for about 5.7 myn bu, and the Paki tender is still scheduled for the 12^th. Specs are expected to keep adding to their corn positions. Allendale reported that they expect the USDA to trim 2007 corn yields by about .4 bpa, and also increase corn usage to record amounts for the first quarter. It’s all BULLISH…and the battle for acres is heating up. So corn is up another .12 and beans are up 25-30 this morning. Wheat, not wanting to get left behind is up 20…only MPLS is lagging down 8. Winter Wheat crop scores are much lower than last year, so as we come out of dormancy, and into spring, things will likely get REAL exciting. Kansas is rated 47% G-Ex, vs. Lyr’s 57% at this time (23% of Kansas is rated P-VP). Okie is 35% G-Ex vs. 51% lyr. Texas is only 14% G-Ex vs. 41% Lyr. Right now the ‘biggest loser’ for acreage stands to be cotton.

            French Pres. Sarkozy says that he would be willing to ‘ban GMO’s’ if the scientific panel can raise serious doubts about the safety of GMO’s. The panel is scheduled to release their findings tomorrow. They have been notoriously slow to accept things they are not familiar with. China says that they will continue to import beans in their effort to keep domestic prices in check. Saudi Arabia says that they will phase out wheat production to save/ conserve water. They will need to import about 2.5 myn mt / year total to meet domestic needs.

            US Science magazine claims that bio-fuels have a greater negative environmental impact than use of fossil fuels. While they do acknowledge that bio-fuels reduce greenhouse gases by 30%, the article claims that other environmental impacts such as increased tillage areas, use of chemicals/ fertilizers etc have a far greater negative impact on the environment.

***Didja Know: “A committee is a group of people who keep minutes and waste hours”…The African Baobab tree is sometimes as wide as it is tall? It is pollinated by bats, and has blossoms that only open in the moonlight. Charlie Chaplin once won third prize in a Charlie Chaplin look alike contest…By 1965 the minimum salary for a baseball player was $6000/ year…which was about $1000 more than in the mid forties….