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      4/23/08

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

                ‘Normal’ precip for most of the US is projected for the next 6-10 days, with below normal temps…SEE BELOW. Sales reports showed Good numbers for corn with 38.9 myn bu sold, but part of that was for new crop! Traders were hoping for o/c sales in the range of 29-49 myn bu. We will need to keep watching o/c sales closely since any drop in sales should see an increase corn c/o. Wheat sales only tallied 5.8 myn bu. Traders were looking for something in the range of 9.1 to 12.8 myn bu. White wheat had 675m bu in cancellations. The Farm Bill debacle continues, and so far the CFTC meeting has yielded much discussion, but no change.

            The IGC says world grain output will be up 1.7 myn mt, (62.4 myn bu). This is up 5 myn mt from the March estimate. Ukraine is expecting good crops. (We will have an addendum to add that you should find interesting in the next day or so). Cereal production in North Korea is down AGAIN. They will be down another 1 myn mt from last year, and will be 1.7 myn mt BELOW the MINIMUM threshold. Argie situation is getting VERY serious. The gov’t has imposed “Supply Law” which sounds like a police state…fines, imprisonment, confiscation of property are potential penalties for failure to deliver ‘essential’ products to the market. I wonder once they put all the growers in jail/ out of business where food will come from next year? Keep watching this, as it could be a major ‘driver’ through the summer and into next year. The world grain situation is precarious enough, that the potential loss of production from Argie could really spike prices. Paki is announcing that they will fall short in production this year, and will need to import 2-3 myn mt just to match consumption. They had hoped to start to build a reserve.

            I will try to get all the Survey estimates together for you tomorrow!

***Didja Know: YOU had to know it would happen sooner or later…Physicist Phil Chapman warns that sunspot activity is at an 11 year low, and that the earth could cool very quickly. His claim that overall average temp of the earth has dropped .7° Celsius from 1/07 to 1/08. Opponents argue that those temps readings are a result of La Nina…whatever…it is cold/ windy outside right now. I do remember that only about 20 years ago, scientists were warning of ‘mini ice age’. Could it be we just magnify our own importance?