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

3/26/08
 

SWW

SRW

DNS

HRW

Barley

Corn

Month

Portland

Chicago

Portland

Basis

Portland

Basis

Portland

Cash Px

Basis

April

10.45

13.15

1.70 N

12.13

1.43 N

238

212.50

May

10.45

10.36 CKW

13.25

1.80 N

12.18

1.48 N

240

June

13.25

1.80 N

11.77

1.10 N

July

9.30

10.42 CNW

12.15

.70 N

11.12

.45 N

224

August

9.35

11.81

.85 N

11.20

.40 N

226

September

9.42

10.60 CUW

11.81

.85 U

11.25

.45 N

228

OND

. 08/ mo

213

N/C 2009

8

-2.00 CNW

10.80

Option px

9.90

Option px

203.60

LDP's

-6.96

  

-10.62

  

-7.70

  

-2.91

-3.04

  

***Club premium: .00/ bu.

 

-.02/ 1/4

  

-.70/ 1/2

      

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

 Markets called up early, but opened lower. At this writing, Chicago has traded a .56 range and is down .22-.39. Mpls has traded a .72 range, and is down .40 or so. KC is down .40-.50 after trading a .67 range. Corn is up 6-8 after starting sharply lower. Today there is basically ZERO consumptive demand for new crop…all the activity is from specs. Weather is called wet for SRW country and warm/ dry for HRW. Heavy rains have done extensive flooding in places like Arkansas. Report said 10’s of 1,000’s of acres are under water (have been for 5-6 days). Wheat acres lost will show up as Corn/ Bean acres later on. So far no movement on the Farm Bill. Prez candidate commented correctly that "if the bill was passed we are going to court (WTO) and we will lose". ACE (Corps of Engineers) have closed the upper Mississippi for 8 days for emergency lock repair. This will likely impact basis levels on the interior at least somewhat, especially in light that the Argie farmer strike continues. Monsanto raised their income projections for 2008 (after seeing the price of seed/ glyphosphate it is easy to see why).

International: Argie growers have promised to extend their strike indefinitely. First signs of food shortages are starting to show up on grocers shelves. Argie Gov’t says they must end the strike before negotiations can take place, which today is not likely to happen. First shortages are with beef and dairy. Indonesia is considering banning rice exports, but at this time, it is just a consideration. Turkey cancelled a 7.2 myn bu wheat tender, but will be back. They are hoping for some US gov’t export credits. The Chinese State council lifted their minimum prices for farm products in another attempt to increase production/ cheapen food supplies…you can imagine that with all the steps being taken in the world to increase food supply, that if the weather ever co-operates that prices could look drastically different.

***Didja Know: Per Capita wheat consumption in the US was up about 3 lbs last year (highest since 2001). The US mint printed a run of coins, accidently, that read "In Gold We Trust"…There were 15,700,003 Ford Model T’s produced…all in black…It is not unusual for apples in Sweden to weigh up to 2 lbs…

***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***