Morrow County Grain Growers                                Pendleton Grain Growers

             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      6/23/09

 

SWW

SRW

                DNS

              HRW

  Barley

        Corn

 

Month

Portland

Chicago

Portland

Basis

Portland

Basis

Portland

Cash Px

 

June

5.75

 

7.79

.90    U

6.55

.35   N

110

152

 

July

5.75

5.46  CNW

7.79

.90   U

6.55

.35   N

110

 

 

August

5.75

 

7.79

.90   U

6.55

.30   U

120

 

 

September

5.80

5.75   CUW

7.79

.90   U

6.66

.35   U

120

 

 

October

5.91

 

7.85

.85    Z

6.71

.25   Z

 

 

 

November

5.95

 

7.90

.90    Z

 

.30   Z

 

2009/ 157

 

December

5.99

6.01   CZW

7.95

.95    Z

 

 

 

2010/ 160

 

N/C 2010

 

6.50   CUW

7.50

.30   MUW

6.76

.20 CUW

 

2011/ 164

 

N/C 2011

 

6.76   CNW

 

 

 

 

 

 

 

**Club premium: Buyers Call!

 Prem/Disc

+10/ -15

Prem/ Disc

+15/ -20

 Canola:

.15/ lb n/c

 

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

            US $ is lower, traders expected a bit of ?turn around Tuesday?. Not much happening on this end though. Futures are running + / - a penny or so, except in Beans which are up 16. Weather man sez the southern plains ought to get some GREAT harvest weather the next 10 days. Yields range from ?disappointing to respectable? depending on who you talk to, what story you would like to hear. Bottom line is that Kansas looks to produce something in the 340 myn bu range will teeter toward ?respectable?. Carries in the markets (especially KC and Chic) are very large. Chicago carries are massive (if they aren?t a record, they MUST be close) at nearly .30 for July/ Sept indicating the fundamentals are still really weak.

            Crop scores showed that the US corn crop was 70% G-Ex again last week vs. 59% a year ago. Beans are rated 67% G-Ex vs. 57% last year. Winter wheat harvest is rated at 20% complete vs. 31% last year, and Spring wheat is rated 77% G-Ex. One thing to remember about those great ratings is that it is pretty tough to improve them, but the downside could still be large. Army Corp of Engineers will open the Missouri for navigation on 7/1. There are still many users would like to make it a viable transportation alternative to rail. History has showed the flows are pretty inconsistent, making shipping plans hit/ miss at best.

            Stats Canada reported that Canola and Spring wheat acreage will be quite a bit higher than farmers originally indicated in their March survey. In the case of Canola, acres will be almost 1 myn more than the survey?but even so, the total will be less acres than last year. India?s corn shipments will increase, but will still only be about 1 myn mt vs. last years 3 myn mt.

 

***Didja Know: US fuel demand is down 6% vs. last year at this same time? Gasoline inventories are up 3.4 myn bbls showing the largest increase in stocks since January?Sez here that chewing gum while peeling onions will keep you from crying?.I don?t know about that?.

***All bids are subject to change, please call for CONFIRMATION of prices. All information in this letter is from sources deemed reliable, and is for informational purposes only***