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      6/29/09

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

            The market is following the path of least resistance this morning, which is lower. US $$ is pretty much unch?d. China said that they see no sudden currency change. Deutsche Bank says that they expect the US currency to increase in value over the balance of the year (not px friendly for grain sales). Fridays Hog report showed MASSIVE herd liquidation. This will translate into lower feed demand. One thing to remember is that once the economy starts to improve, the hog inventories, and feed usage will pick back up. COT report was interesting if for no other reason to see the scale of the liquidation. Specs have sold 90 myn bu of Chic, while the funds have pedaled 40 myn bu, in corn the numbers are just more dramatic. The specs have reduced their long position by 235 myn bu (funds have added another 5 myn bu). Big report out tomorrow and could swing this market hard either way. The inspection report showed Corn shipments of only 26.6 myn bu (trade was hoping for something in the 30 ?35 myn bu range). On wheat the shipments were only 10.1 myn bu with the traders were looking for 13 ?17 myn bu. The carries in the market imply that the fundamentals at least in wheat for now are getting worse.

            Report from Argie is that their wheat acreage will be the lowest in years. In fact they are thinking crop production may only be around 6 myn mt, which is juuusssst enough for domestic needs, which means scratch Argie from the wheat export grid for 2009- 10.

Crude inventories are up 8.7% since January, meanwhile the prices have rallied 57%? I read one report that suggested crude could be as low as $58 by the end of the 3^rd quarter.

***Didja Know: Coca Cola does not own ANY of its own bottling plants? Things were tough when they started out, so they hired the bottling done on a % basis. Lobsters and grasshoppers feel NO pain. The only ?living? part of a tree is the thin layer under the bark (cambium), its leaves and the tips of the roots/ branches. Antarctica only gets about 2? of snow / year?