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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 |
2/20/08 |
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SWW |
SRW |
DNS |
HRW |
Barley |
Corn | |||||||||||
|
Month |
Portland |
Chicago |
Portland |
Basis |
Portland |
Basis |
Portland |
Cash Px |
Basis | |||||||
|
February |
12.60 |
19.37 |
4.34 |
12.56 |
1.85 |
220 |
202 |
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March |
12.65 |
19.39 |
4.36 |
12.58 |
1.87 |
222 |
203 |
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May |
12.70 |
10.28 CKW |
19.41 |
4.38 |
12.60 |
1.89 |
224 |
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June |
12.80 |
19.41 |
4.38 |
12.60 |
1.89 |
225 |
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July |
9.30 |
9.50 CNW |
11.80 |
1.25 MUW |
10.74 |
.55 KNW |
206 |
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August |
9.35 |
10.55 |
1.05 MUW |
10.74 |
.50 KUW |
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OND |
. 04/ mo |
204 |
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N/C 2009 |
8.36 |
-.30 CNW |
9.25 |
.40 CUW |
9.10 |
.30 KNW |
194 |
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LDP's |
-9.42 |
-15.60 |
-7.26 |
-3.24 |
-2.70 |
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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. Futures markets are getting whacked this morning as specs consolidate and take profits left over from last weeks run-up. Chicago is down 16, Mpls is down 60 in the March and 32 in the K (May), but 2009 DNS is up 30. KC is down 15 to 16 and corn is off about 4.Overnight US sold SK about 6.5 myn bu of "optional origin" corn…which means it may ship from an origin chosen by the seller (not necessarily US corn). Philippines approved RR beans for commercial use, BUT they cannot be grown there. The Paki government will restrict flour exports to Afghanistan. It seems that private miller were using their CAPITALIST skills to obtain subsidized wheat from the Paki government and then mill and ship flour to Afghanistan. Definitely not what the Paki government had in mind. France says that 20 countries OPPOSE the WTO outline, centered mostly around GMO acceptance. Currently the EU has 1 variety of GMO corn approved, and that variety is still banned in France, Hungary and Austria. This GMO issue is huge and the big stick the US has been swinging against farm subsidies in the WTO. Where we have a problem is places like Brazil and Canada where there aren’t subsidies, but they accept GMO technology. One other bit of international news: Russia has banned wheat exports to Kazakhstan and Belarus…it seems shipments there have been "leaking" into the export markets rather than intended use…so they were shipping wheat in Kazi and Belarus then competing with those sales on the world market…hmmmm
There are a couple companies working on the potential to build/ install an ethanol pipeline from the Midwest to the NE. Pipeline under consideration would be about 1700 miles long, cost about $3 byn by today’s estimate, take about 3-4 years to build and would be able to move about 4.5 byn gallons per year. Ocean rates had been dropping more or less in line with fuel prices, but have started to work higher…not real good news for exports. Traders are expecting ocean rates to set new highs. We can probably expect gas prices of $3.50 by Memorial Day….
***Didja Know: John O’ Leary patented one of the first safety features installed on automobiles was installed in 1908 and was not intended for the auto operator…it was a net designed to scoop pedestrians out of the way, before they could be run over…a version of the first automatic dishwasher was first introduced in 1889…dunking in Basketball USED to against the rules…from 1969 to 1976.
***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***
