Duane Disque or Brian Peiler                              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      6/22/09

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

            Crude is sharply lower, the US $$ is sharply higher, and futures are getting hammered. Chicago is down another .12, KC is down .11 and Mpls is down 8. Corn is off .15, and beans have coughed up another .22-25. Harvest progressed quickly in Kansas till rains chased everyone from the fields. Weather man gave a price negative (crop positive) weather report: Northern and WCB will be wet, while the Southern / ECB will get some heat/ dry. Definitely a good thing for crops. Market is expecting very high crop scores again this pm. Inspection report was ?good? for wheat with 13.3 myn bu; 2.8 DNS, 6.3 HRW, 1.3 SRW, 2.9 SWW. Corn was rated ?good? also with 38 myn bu shipped. COT though lagging in timing did show a definite trend; Specs/ Funds were holding their largest positions in nearly a year, just prior to this correction. Specs have actually turned to the short side while the funds are still holding 750 myn bu long position?wow this has cost them a bunch of $$$. Last week the specs unwound about 200 myn bu of corn futures while the funds gained another 40 myn bu. Another expensive week for the ?managed? money. The SRW crop definitely needs some heat/ dry to fight disease. It will be interesting to see how the futures handle delivery of the SRW if crop quality is compromised. We had .15 positive basis this morning Portland Sept vs. Chicago Sept.

            Cattle on Feed was very bullish (for the cattle guy, not for the grain guy). Cattle on Feed numbers were the smallest since ?96, and are down 14% vs. last year?down 17% vs. the 3 year average. Breakdown by weights were even more friendly as the weight classes gaining the most in numbers were the lighter weights.

            China removed their 3% export tax on wheat and beans over the weekend. China?s summber wheat harvest is 90% complete. 20% of China?s rice acres were planted to ?super rice? capable of 7.1 mt / hectare vs. world average of 3.9 mt/ ha. ABARE increases crop prospects for the Aussie crop by 1% vs. last years numbers (better rain in the last month and half). Iran says wheat prospects look good, projecting 13.5 myn mt, meaning they anticipate NO wheat imports in ?09-10 crop year.

***Didja Know: ?Wise men don?t need advice, fools won?t take it? Benjamin Franklin. Mercury is the only metal that is liquid at room temperature. ?The longer you carry a grudge, the heavier it gets? Anon.