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      2/14/08

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

            In Heppner today for multi-county marketing meeting….       

Markets are called: Corn up 3-5, Beans up 10-15, Wheat up 15-25. Charts are almost meaningless for trying to project market direction. When this is all over it will interesting to see what they meant/ if anything. There is so much money sloshing around in these commodity pits, it is unbelievable!

            Survey of Mid-West growers released from Agri-Source indicates that growers will likely plant around 88.6 myn bu of corn (px negative) and 70-75 myn acres of beans. In Iowa they are projecting Bean acres up 11%, corn down 5%. There is quite a bit of time before planting, and growers have become very flexible with planting…price can/ will still impact decisions. Agrium (world’s 3^rd largest fertilizer producer) reported $172 myn black for the 4^th quarter. John Deere also reported profits up 55%. High grain prices are already making an impact on the economy.

            Last night Japan booked 4.2 myn bu for April/ May. Iraq got their budget issues resolved, and are expected to tender immediately for 1 myn mt. If this sale lifts from Aussie, it would represent about ½ of their remaining available wheat…and they are 9 months away from their next harvest.

            The US is in court with WTO on cotton subsidies. This does not look like a battle that will be won. Corn is already on the rack, and I have to believe that if we write a Farm Bill that is non WTO compliant, wheat will be there too. I still have not been able to find out: if we lose, WHO pays? (obviously the taxpayer, but where does the money come from?). WHO gets the money? Canada, Brazil and Argie already have a suit filed against the US on corn, if there is an eventual settlement…is the money split and go to a ‘general fund’? Doubtful that any of it would actually make it back to their growers who could claim actual losses.

            GMO has gained strong support from most farmers across the world, and is growing. It has been estimated that in the last 12 years; over 50 myn different growers have used a GMO product (whether wheat, corn, cotton tomatoes etc) in at least 23 countries. There has not been a single successful health/ or environmental claim against ANY approved GMO product. Yet some of the most ‘sophisticated’ countries still resist.

***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**