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      6/8/09

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

            US $ is up, crude is lower futures started lower, before collapsing. Chicago is down .20, KC and Mpls are off 16-20. Corn is down 8-9. Over the weekend we saw good precip in the WCB (where it was needed). The ECB is still struggling with wet soils. There is no chance we will be short corn this year, and whatever impacts we have from reduced plantings will need to be dealt with by the demand side (which is weak right now). COT held no surprises. Specs added a bit to their Chicago, but Index ruled there and are currently LONG 715 MYN or 2 SRW crops! The big swing happened in corn where the specs added over a 100 myn bu to their length, while the funds added another 58 myn bu?bringing last weeks total to 159 myn bu of corn bot! Next round of USDA reports will be Wednesday. We still won?t have any better idea what the corn acres will be until the last week of June. Planted acreage report from the USDA is due the 30^th, but we ought to get lots of private estimates leading up to that report. Informa increased their estimate of the US wheat crop by a small 11 myn bu (1 weeks worth of exports). CFTC chairman Gensler promises to protect the integrity of the futures markets for Ag?by the way those holding July HTA?s have about +.15 to .20 basis today! There are 574 myn bu of corn still under loan, and 27 myn bu of wheat: 197m in Oregon while Wash and Idaho have about 2.5 myn each. Export inspection report: traders were hoping for 35-40 myn of corn; actual was only 26 myn bu. On wheat they were hoping for 10-15 and got 17.5 myn bu 3 of it was SWW.

            China announced they will increase export tax REBATES and will release 15 myn mt of corn to the northern provinces from reserves. Good rains were reported across most of Europe, and they are considered to be in ?good? shape. Egypt seized another shipment of Russian wheat and will demand re-imbursement of $9.6 myn for wheat they say is ?inedible?. The growing pains continue?and Russia, Ukraine and Kazakhstan are proposing a ?Black Sea? wheat pool as a means to attract investment $$ as exports continue to increase. Last year US wheat sales were down 8%, while Russian and Black Sea exports have been growing double digits. Iraq booked 5.5 myn bu of Canadian wheat and 3.6 myn bu Aussie wheat.

***Didja Know: Jupiter is so big, that if you added the mass of our entire solar system together (not counting the sun), it would not equal Jupiters?? Some perspective: 1000 earths would fit inside Jupiter, while the sun could hold about 1000 Jupiters?hmmm says here that astronauts returning from space can be up to 2? taller?