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      4/25/08

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

                Congress passed a 1 week extension to the Farm Bill, even though they think it will take 2 weeks to get it done. Bush has signed it. Congress says they will NOT increase taxes, but will “boost customs users fees”. Hmmmm well AT LEAST THEY AREN’T INCREASING TAXES! US $$ has been showing faint signs of life, strengthening, if it continues perhaps some $$ will move back out of commodities to equities. Planting progress is expected to slow again as more showers are moving through the area, but they are dropping a lot less precip than expected. If crop scores improve Monday, it should not be a surprise with showers moving through the southern plains

            We are seeing some ‘conflicting’ reports about the Indian wheat crop. Yesterday they said they would not need to import any wheat, then an article that ran this morning said that crop production was running lower than Gov’t  projections.

            Attached is a ‘World Crop Update’. We though it might be useful…one thing that is a little deceiving is comparing this year to a 10 year average, maybe I should have just compared it to last year. Anyway, look it over…if you find it useful, or if you have any suggestions let me know. By the way all of the numbers came from USDA/ US Wheat and the FAS.

            Survey SEZ: Well its been an interesting experiment so far. We have guesses from $5.55 to $16.78. Interestingly though, about 35% of the guesses landed right around $8 (in fact from $7.75 to $8.25). One other interesting comment I have received is that “even though I didn’t get you a guess, it did force me to think about where I thought wheat prices might be, and if I should be doing something”.

We have talked about some of the things I see as main drivers, and with that in mind my guesses were: $7.90 for SWW, $9.10 for DNS, $8.30 for HRW, $195 for Corn and Barley. Some folks were a lot more precise than me, estimating to the penny, and it was also interesting to see what drove some of the guesses: Well it NEEDS to be…surely it couldn’t be any lower than…or “I am hoping for”…There will be prizes awarded and it looks like I might be able to sweeten the pot a bit more than I originally hoped.

***Didja Know: MOST rice is eaten with in 100 miles of where its produced? Only 8% of all world rice is exported?

HAVE A GREAT WEEKEND