|
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 |
4/2/08 |
||||||||||||||
|
SWW |
SRW |
DNS |
HRW |
Barley |
Corn | |||||||||||
|
Month |
Portland |
Chicago |
Portland |
Basis |
Portland |
Basis |
Portland |
Cash Px |
Basis | |||||||
|
April |
10 |
12.05 |
1.30 N |
11.03 |
1.30 N |
238 |
228 |
|||||||||
|
May |
10 |
9.15 CKW |
12.15 |
1.30 N |
11.03 |
1.30 N |
240 |
|||||||||
|
June |
12.15 |
1.00 N |
10.80 |
1.00 N |
||||||||||||
|
July |
8.75 |
9.28 CNW |
11.05 |
.70 N |
10.20 |
.45 N |
224 |
|||||||||
|
August |
8.80 |
10.76 |
.90 U |
10.33 |
.45 N |
226 |
||||||||||
|
September |
8.90 |
9.48 CUW |
10.76 |
.90 U |
10.38 |
.45 N |
228 |
|||||||||
|
OND |
. 08/ mo |
222 |
||||||||||||||
|
N/C 2009 |
7.75? |
-1.50 CNW |
10.00 |
Option px |
9.40 |
Option px |
206 |
|||||||||
|
LDP's |
-6.81 |
-8.62 |
-6.91 |
-2.91 |
-3.46 |
|||||||||||
|
***Club premium: .00/ bu. |
-.02/ 1/4 |
-.70/ 1/2 |
||||||||||||||
***
NOTE: Corn bids vary depending on point of delivery. Please Call for Updates. Weaker dollar again, and you just hafta wonder how low can it go? It certainly helps our exports, but makes imports awfully expensive (see crude oil below). Funds reportedly bought 6m caks (30 myn bu) of corn yesterday and were able to run the market up .20 before settling with a positive .08 on the day. Look for strength to continue in corn until the weather co-operates/ and or it becomes much more certain that the acres are gonna git planted. At least the market seems to be "fundamentally" aware that the acres need to be there, or we stand a very real danger of seeing our corn supplies do similar to what wheat stocks did this last year. Remember yesterday’s comment that Brazil is expected to plant record acres of corn this winter. Taiwan is in tonite, China booked 226m mt of beans overnite, and Egypt also booked 4.4 myn bu of US SRW. Wheat futures are definitely oversold and due for a bounce…at least a ‘dead cat’ bounce. We did see some crop scores on Kansas, and they declined 4% from last week. Theyare currently rated at 44% G-Ex. The Farm Bill is still locked up. The $10 byn difference is actually more like $10.85. The Congress appears to be working hard, but compromise is elusive. CRP acres are estimated to be down from a maximum of 39 myn acres to 32 myn acres by 2010.Vera Sun’s merger with US Bio-Energy is complete. They now operate 10 plants with capacity of 980 myn gallons, with 7 others under construction/ development. So the consolidation in the ethanol industry continues.
Aussie confirmed that the LaNina is fading quickly. They agree that if El Nino develops that it likely means dryer Eastern Aussie, but perhaps more precip for WA.
***Didja Know: FWIW Dept: To put our futures exchange in perspective as far as size/ scope: Total trading volume of CBOT Beans/ Corn is less than 1% of the global foreign exchange. TOTAL value of the US corn, bean, wheat crop was estimated at about $100-110 byn. The US bond market is $4.6 Trillion, the US Stock market is $116 Trillion. Last MONTH the US imported $36 Byn worth of crude oil…
***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***
