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      2/1/08

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

            Apparently the specs just wanted to take profits/ consolidate for month end, cuz they are picking up where they left off before with futures markets UP the limit in Mpls, nearly up the limit in Chicago and KC. Corn is up 6 and Beans are up 15-22 as of this writing.

            SK bot another 3.6 myn bu of corn. US corn exports are +33% vs. this time last year, and a solid +15% vs. USDA’s. Fundamentally and technically this market appears strong. Japan was in last night and bot another 1.5 myn bu of DNS, also last night the Ukrainian AG minister did NOT approve more wheat for export sales. At the current pace we are pretty much assured that the world will see wheat shortages. Remember that HRW acres are actually DOWN 1% vs. last year, and early crop scores show the HRW in much poorer condition. Against this backdrop is an article saying that Iraqi wheat purchases are down a third vs. last year. They have not purchased any wheat on the world market since Sept/ Oct. (about a 4 month layoff) and are expected to tender shortly.

            The EU started legal action and will take Poland to the ECJ (European Court of Justice). The EU says that these bans must be made based on science and not morals, which is what Poland was basing their argument. Once again it seems that they EU may be nudged closer to accepting GMO crops.

            Congress is still catching heat on the Farm Bill, both from the subsidy standpoint and the fact that it has done nothing to get WTO compliant. While there may be enough votes to override a presidential veto, the chances of reverting back to the permanent 1949 bill is very real. Congress has the power/ ability to tweak/ make changes to the bill in respect to things like milk prices. The 1949 bill was based on parity, and while things like wheat would actually be ok today…it would put the national milk price up to something like $10.30/ gallon…which would NEVER fly.

***Didja Know: Bigger’n Texas! Brazil is home to the world’s largest snake (anaconda..up to 35’ long), largest spider, largest rodent (capybara-which is like a guinea pig, only the size of police dog), and the world’s biggest ant. Raw broccoli has 2x as much vitamin C as orange juice, and almost as much calcium as milk…

HAVE A GREAT WEEKEND