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      2/11/08

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

            PLEASE take note that I have changed up the bid information above somewhat. There has been a lot of interest in contracting for 2009, so I tweaked the sheet a little. This week will definitely have a slightly different flavor: Last night all three exchanges agreed to increase trading limits to .60/ bu and if we stayed up the limit, increase to .90 on following day, $1.20 the day after. The .60 limit seems to have been enough for all classes/ option months EXCEPT nearby Mpls where they are trying to roll out of the March into the May. DNS finished last week UP $1.50 which was the limit for 5 days in a row. When this DNS market snaps it will be like a dry twig, and will likely make what happened in SWW look ‘gentle’. That wasn’t all that happened over the weekend. The USDA apparently changed their minds on the release from the Trust. Now instead of 3+ myn bu of SWW, it will only be 1200 bu. The release will now also be made up of 890m bu of Durum and 3+ myn bu of DNS. Implications are numerous. Market will eventually sort it all out, but it will add to the volatility. Corn missed the mark somewhat on weekly inspections, with only about 41 myn bu shipped (trade was hoping for 45+). Wheat was very bullish with 17.7 myn bu, with 2.7 of it SWW, 5 DNS and 8.3 HRW. USDA announced they will send out payments of $315 myn to cotton/ peanut growers, and will decide by 3/1 if there will be any payments for Corn, Beans, Sorghum.

            International: Argie received very good weather over the weekend. Cooler temps/ and rain, just what was needed. Aussie Gov’t has given export permits to LDC and Glencore to ship Aussie wheat. This is the first time in 70 years that an outside agency has had access to Aussie wheat. Most likely target for sales would be Iraq, unfortunately for the PNW, but freight wise, it makes a lot of sense. S. Aussie will continue the ban on GMO crops for at least 2 more years, and France has banned the only GMO corn crop that was being raised. French farmers will take em to court.

***Didja Know: Recent survey says that if growers could get out of CRP with no penalty, as many as 12.2 myn acres may come out? Highest percentage was in the west. With current run up in wheat, it is estimated that a 20 ounce loaf of bread could see a .30 price increase? “Shumpeters observation of scientific and nonscientific theory” says: Any theory can be made to fit any facts by means of appropriate additional assumptions…..