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      6/26/09

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

            The US $$ is down, crude was up this morning early, but has given up all those gains and is now lower. Corn has scratched out a small gain, and only in Mpls are the wheat futures lower on the morning. Markets are trying to anticipate what the Senate sub committee recommendations mean. The ?index funds? have been our friends. They are always long, and provide great liquidity. The specs have always been a knife that cuts both ways, but everyone needs a knife in the kitchen. The big question is whether the funds will be forced to liquidate.

            Egypt booked 2.2 myn bu of French wheat at $5.21/ bu. The IGC reduced world wheat carryout by about 1 myn mt, but they reduced demand by more. The fundamentals remain bearish for wheats. About 40 growers have gathered together to form their own grain company in NSW. Interestingly the growers chose a corporate structure vs. a Co-op model. Malaysia booked their first cargo of US corn in over 2 years. They will be back with Indonesia to tender for 2.9 ?3.6 myn more bu of corn for Sept- Oct TOS. Philippines will also be in to tender for 1.8 myn bu of Dec corn. So there is some demand/ tire kicking going on, but solid large purchases are rare.

            Corn futures have tested the $4 Dec limit a number of times and so far it remains intact. It will take some big pressure to push through?something like next Tuesday?s report. It feels like the market really doesn?t want to take much lower at least until this report passes and we get a feel on what pollination will turn out like. HRW futures continue to feel the heat of harvest pressure, as stocks start to build.

***Didja Know: The ?King Ranch? in Texas is bigger than the state of Rhode Island? It?s over 1.25 myn acres?Albert Einstein once said ?The difference between genius and stupidity is that genius has its limits?.

                                                HAVE A GREAT WEEKEND!!!