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      6/4/09

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

            Wheat futures have claimed back about ? of yesterdays losses, while corn is within a nickel. Beans are up .34 nearby. Crude is back up and the $$ is lower. Sales report this morning was very interesting: Corn sales of 23.8 are on USDA pace but were a lot lower than traders expectations of 25-37 myn bu. Wheat was pretty sad with only 6.5 myn bu sold. The real disappointment is that we actually shipped 68.5 myn bu less than USDA projected (increasing carryouts). Beans actually ended the week with 944,000 bu in cancellations and there is talk that we may see IMPORTED beans on the east coast! Average SRW price vs futures is -$1.16. Weather mans says the corn belt should see favorable weather all weekend. Goldman Sachs says their projections call for $85 oil by the end of ?09 and $75 oil within 3 months?.this is interesting and conflicts with EIA (Gov?t Energy Information Agency) reports dramatically. They claim that $75 crude implies about $3 pump px for gasoline, and their models say our fragile economy will not support $3 for any length of time. By the way, gasoline usage was just a hair over 9 myn bbl/day vs. last year this same time we were burning through about 9.5 myn bbl/day (with gas pxes nearly $1.50 higher). This stuff is important because with tinkering with the ethanol blend (increasing from 10 to 15%), we are already at the blend wall and it means ethanol manufacturers will need about 23 myn bu LESS corn per month to make the ethanol necessary for a 10% blend.

            Paki announced they will export 2 myn mt of wheat after harvesting a bumper crop. Israel booked Ukrainian wheat. Argie wheat acres are expected to be sharply lower on ground ?too dry to plant?. The pork bans from China/ Russia and 12 others had hogs down the limit the other day?this is still ?fallout from the swine flu?. They are down again today. Russia meanwhile says that they plan to increase grain output by 25% and have set their next target on high quality soft wheats to SE Asian markets.

***Didja Know: A neutron star is so dense that 1 teaspoonful of its matter weighs more than all the people on earth?Saturn?s density is less than water! If you could place the planet in water, it would float!