Morrow County Grain Growers                             Pendleton Grain Growers

             Duane Disque or John Ripple                              Jon Sperl or Bryce Olson

             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      4/6/09

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

            Futures are mostly lower again this morning. The bull MUST be fed daily, and the pickings are slim! Again weather is the only thing supporting the market, and the 7-10 forecast looks like it will continue to be supportive, then the weather man sees a change in patterns to warmer/ drier across the Northern tier of the country. Interesting looking at the 1^st crop condition reports yesterday: Wheat is rated 43% G-Ex vs. 45% this time last year. NOTE: there is NO discount for probable losses due to cold weather. Temps were in the low 20?s in W. Kansas, and 24-29 in Central Ks, Okie and Northern Texas. There will almost certainly be some losses, but they haven?t been quantified at all. Next Monday we will get our first corn info. The 5 year ave planting progress on the first report is 5% (last year we were at 2%), but remember we also got nearly 80% of the acres in, during a 2 week window. Even though most acres would be considered late, and even with floods etc. the estimated ave yield was 153 bpa. SOY OIL may lose its EPA mandate of 1 byn gallons prod by 2022. As part of the mandate, green house gases must be reduced by at least 50% vs. petroleum based products. Soy oil?s rated reduction is 78%, but in a surprise move, the EPA will calc in bean farming methods OUTSIDE the US. After re-calc?ing it comes out at 27%. Is any of this important? 14% of all soyoil produced last year went to bio-diesel. Margins on profits from soyoil to bio-diesel are slim or negative. With out the $1.00 credit, and the EPA mandate, this industry is done. Goodbye investment $$ and beans lose a big chunk of consumptive demand. Those acres will mostly likely get planted to something?you get the picture.

            The FAS (Foreign Ag Service) is projecting the ?09 Russian wheat harvest down 13 myn mt, but plantings will be up 1.6 myn ha (3.95 myn acres). Crops are rated good-satisfactory. They are projecting exports at 20 myn mt, and at the end of the day for wheat carryouts in 2010 to increase by 1 myn mt to 16 myn mt. Overnight tender for Syria was completed (either Russian or EU sale). Brazil?s bean harvest is now expected to be larger than last year, as prod was revised up by .5 myn mt. Their wheat prod will be up sharply (60%), but they are small producers and still net importers.

***Didja Know: Brazil is the world?s #2 Bean exporter, behind the US? The US mint once erroneously printed a run of coins that said ?In Gold We Trust?. There were over 15 myn Ford model t?s manufactured?all in black?