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      5/30/08

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

            As harvest pushes north, some in Texas are calling the harvest the best in 30 years! So far quality has been outstanding. A string of showers is passing through the southern plains, and these will slow harvest, but at this time should not effect quality/ yield. CFTC says that they will ‘institute measures to increase transparency of energy markets’. I read most of the article and couldn’t really tell you what I read…pretty confusing. The trade is wondering if this may lead to limited involvement by the funds. The index funds have been great for grain prices, but at some point, they will exit the market and when they do, if it isn’t orderly/ timely there will be a HUGE hole…similar to what we are seeing by the monetization of the BEHT. By the way, no formal announcement on the last of the trust wheat yet. Sales report was rated OK for Corn: 18.8 myn bu of o/c sales and 8.9 myn bu of n/c. Wheat was really poor: Trade was hoping for something in the 18-25 myn bu range between o/c and n/c. The actual was a NEGATIVE (cancellations) of 12.5 myn bu.: -11.2 HRW, -.5 DNS, and -.8 SRW. Futures at least are not taking notice though, as Chic is UP 10, Corn is UP 7-8, and the Reds are up 3-4.

            Russia is expecting to harvest 48-50 myn mt of food grade wheat, and so is expected to lift export duty 7/1. India is also looking into their own export duty for the first time the last 4 years as they are indicating they MAY have some exportable quantities. Aussie does expect to get the wheat planted, and if the projected acres are planted it would a record planting of some 13.9 myn ha (34 myn acres). Barley acres would also be up at the expense of specialty crops, sorghum and pasture. Overall world wheat production is expected to hit 659 myn mt vs. 602 last year. It’s like finding a whole ‘nuther US wheat crop.

***Didja Know: John Deere is planning on increasing combine production by 30% to address global demand? “Children today are tyrants. They contradict their parents, gobble their food and tyrannize their teachers”…Socrates. Tree rings are always further apart on the southern side (northern hemisphere). One time classmates Dustin Hoffman and Gene Hackman were voted by classmates as ‘least likely to succeed’.                                              Have a GREAT WEEKEND