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      4/29/08

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

            After yesterday’s run up, and SWW values remaining steady/ weak, wheat is now much more attractive in feed rations, the farther inland you go. Remember, as you look at relative values: there are 33.33 bu in a ton of wheat, and 35.7142 bu in a ton of corn. Mark your figures on a per/ ton px. Today, economics favor wheat over corn in many parts of SRW country, and places like S. Idaho.

            Inspection report yesterday: Corn shipments 34.9 myn bu. We NEED to ave 47.3 myn bu the balance of the year to hit USDA, but have quite a bit of time on corn (Argie situation is helpful…see below). Wheat shipments were 18.9 myn bu. Wheat sales have been good, but actual shipments are lagging. To hit USDA we need to ship 150 myn bu over next 6 weeks (25 myn bu/ week). Effect of not hitting USDA #’s is that C/O will increase…even if sales are eventually lifted in N/C slots. Media has been on a frenzy about world grain prices, but since wheat is less than 50% of the winter highs, I wonder how long it will take for them to recognize that fact, or for pxes to start falling in the grocer. One other item that needs consideration; With all the hype of a food shortage, IF there actually is a food shortage, and now you could buy wheat at roughly 50% of last years values, why isn’t there any activity for N/C purchases??? Planting progress was less than desired on yesterdays report with only about 10% of all corn acres planted (Minn, Iowa, Ill, Indiana are all way behind). Spring wheat plantings are 34% vs. 28% lyr and 40% on 5 yr ave. Winter wheat ratings improved (moved 1% from Fair to Good…TINY increase). US crop now rated 46% G-Ex. Or is rated 26% G-Ex, Wa 63%, and Id 85%. Tomorrow is the FND for the May cak. Sen Kay Hutchinson wants Gov’t to FREEZE bio-fuel mandates. (She is from Texas, Tx is the largest oil producer in US), so it is either that, or she has bought into the latest media frenzy…We pointed out in the opening paragraph what CORN means to wheat, a sudden abundance of corn (due to reduced demand, means the floor for wheat, due to competition for feed, is lower).

            Argie is talking about extending strike deadline for another 30 days. Meanwhile Brazil bought 4.2 myn bu of US HRW (can’t get it from Argie) for ’08 crop year. This is px supportive nearby, but eventually the Argie stocks will weigh on the world market.

***Didja Know: With NFL draft just over: During WWII (1943), so many players from the Pittsburgh Steelers and Philadelphia Eagles were serving, that they combined the teams to become the ‘Steagles’?