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 (work), 571-3798 (cell) graingrowers@centurytel.net

GOOD MORNING!!

Below are the best indications available as of:

9:00

3/19/08
 

SWW

SRW

DNS

HRW

Barley

Corn

Month

Portland

Chicago

Portland

Basis

Portland

Basis

Portland

Cash Px

Basis

March

10.80 ?

13.75

1.60 N

12.75

1.38

242

209

April

11

13.85

1.70 N

12.85

1.43

244

May

11

11.00 CKW

13.95

1.80 N

12.91

1.48

246

June

?

13.95

1.80 N

12.37

1.10

July

9.30

10.85 CNW

12.85

.65 N

11.72

.45 N

220

August

9.35

12.20

.70 U

11.71

.40 U

222

OND

. 04/ mo

204

N/C 2009

8

-2.00 CNW

10.50

Option px

10.25

Option px

196

LDP's

-7.24

  

-11.47

  

-8.49

  

-3.06

-3.37

  

***Club premium: .00/ bu.

 

-.02/ 1/4

  

-.60/ 1/2

      

***NOTE: Corn bids vary depending on point of delivery. Please Call for Updates.

 Overnight market were lower in Europe, up in Asia. Gold was down $20/ ounce overnite. Grain futures were called lower this morning; currently corn is down .17, Chicago wheat is off about .50, KC is down .42 to .60, and Mpls is down .25 to .45 in fast moving markets. OLD CROP DNS basis lost $1.10 overnight! Also overnite Iraq booked 5.5 myn bu of US HRW while Japan booked 3.3 myn bu (1.8 was various varieties of US wheats) 750m bu was Aussie and Canadian. Right now the corn market seems to be reflecting the attitude of the financial markets more than the real consumptive demand for corn. Ethanol economics should be working well, even for "discretionary" blends with crude near $110/ bbl and gas pushing $3.50 on the way to $4.

80 Representatives descended on Washington DC to make their case for "cheapening the domestic price of wheat". Being dubbed the "Band of Bakers"…they are pushing a 3 point plan: 1) Increase flexible use of CRP. 2) Urge EPA to waive yearly renewable fuel standards. 3) Support a REQUIREMENT for USDA to periodically evaluate export policies (READ: Temporarily Ban Exports). In their talking points they refer to a "commodity crisis"…crisis for who? Thank goodness for people like Daren Coppock and NAWG for being willing to stand up for this immediately. Also the North Dakota Grain Growers Assoc. The ‘Band of Bakers’ could ruin years of relationship building with the stroke of a pen, and also cause some real unsettling in world grain markets if the US was to viewed as an unreliable supplier.

Aussie Bureau of Meteorology says that LaNina is weakening and could be gone by May. La Nina is generally associated with cooler/ wetter Aussie and PNW, but hotter/ dry Midwest. The date of their next update is 4/12. France continued their ban on GMO corn, with a case brought by 9 farmers kicked out of the courts yesterday. French scientist claim "serious concern", but no scientific evidence…we’ll see how that plays out.

Farm Bill is now listed as "DOA". Congress can not seem to come up with a solution to the $10 byn budget problem. Getting it done by April does not look good. With field/ seeding starting in the South, it wouldn’t be fair to change up the game once they start, so the window is closing quickly….

***Didja Know: Only 3.9% of "Oregon" Farms are over 2000 acres?…6.4% are over 1000 acres…29.2% of operators were over 65….nearly 55% of Oregon growers are over 55. Greenhouse/ nursery products are Oregon’s number 1 commodity…wheat is 6th.

***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***