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      5/27/08

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

            CCC announced that they got pricing on 18.4 myn bu of BEHT wheat. They will open the trust up again on Thursday to finish ‘cleaning it out’. Markets are no bid for SWW at this time, as the market tries to figure out where bids ought to be. Looks like about 6.7 myn bu of this was SWW. BEHT has been painful for SWW cash prices. Crude oil is up, $$$ down, corn up just a tad. Interestingly 1/3 of all corn OI is in the July cak. Only real surprise in corn is that the specs bot over 200 myn bu of corn in the last week. Corn plantings today are expected to be about 85-90%. The weekly crop reports will be out at about 1. Weekly inspection report showed GOOD export numbers for Corn, Beans and Wheat. Report showed 15.2 myn bu shipped: 3.6 DNS, 8.1 HRW, 2.6 SRW and only .8 myn SWW.

            Mexico (US #2 Ag importer) announced that they will reduce/ remove IMPORT duties on Wheat, Corn and rice, in a bid to keep food prices in check. Weather in Aussie is getting serious. Rabobank REDUCED their wheat production projections from 23-26 myn mt to 20 –24 myn mt, and its still MAY. NSW is the driest/ area of greatest concern since it is/ has the potential to be the largest wheat producing territory. The Aussie meteorological board says that they are forecasting up to ¾” of precip for later this week. They need it badly. In some areas seeding has been delayed to dryness. UAE (United Arab Emirates) says that they will buy 18.4 myn bu of wheat for Yemen. Indian wheat harvest has gone very well, they still maintain they will not be importing wheat this year. That will be at least partially offset by Paki. The Paki wheat harvest is now projected to be about 8% lower than last year, and they are thinking of 3.5-5 myn mt of imports. (about what India did last year). Ukraine weather has been excellent, they are thinking they will have up to 13 myn mt of exportable wheat this year. China is still talking about keeping fert export duties in place, only now until 12/31. The effect has been dramatic. Last year China exported about 6 myn tons of Urea, this year…nothing.

***Didja Know: The Great Wall of China, was the largest project ever undertaken by mankind? It is (was) over 4160 miles long and at one time was guarded by over 1 myn soldiers. It is estimated that between 2-3 myn people died building the wall and for some they were born there, lived and worked on the wall and buried in the wall.