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 6/9/09

	SWW	SRW	DNS		HRW		Barley	Corn
Month	Portland	*Chicago*	Portland	Basis	Portland	Basis	Portland	Cash Px
June	6.18		8.00	*.70 N*	6.86	*.30 N*	110	169
July	6.18	*6.05 CNW*	8.10	*.80 U*	6.86	*.30 N*	110
August	6.18		8.10	*.80 U*	6.92	*.25 U*	120
September	6.32	*6.33 CUW*	8.10	*.80 U*	6.97	*.30 U*	120
October	6.42		8.15	*.75 Z*	7.08	*.25 Z*
November	6.46		8.20	*.80 Z*	7.13	*.30 Z*		2009/ 176
December	6.50	*6.59 CZW*	8.25	*.85 Z*	7.18			2010/ 175
N/C 2010		*7.08 CUW*	*7.88*	*.30 MUW*	*7.38*	*.20 CNW*		2011/ 178
*N/C 2011*		*7.216 CNW*
**Club premium: Buyers Call!			*Prem/Disc*	*+12/ -20*	*Prem/ Disc*	*+10/ -20*	*Canola:*	*.17/ lb n/c*

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

US $$ is down, crude is up, Dow is up…futures are called higher. Wheats look to open up 6-8, corn up 4-6. Yesterday’s crop progress showed 97% of the corn planted with 69% G-Ex vs. 60% last year. 96% of the wheat is planted vs. 100% normal. 72% is rated G-Ex vs. 63% last year. CFTC got another visit from grower groups as convergence continues to be a problem. Although things have improved, there is still a huge difference between futures and cash. Lack of transparency, enforcement of current rules and perhaps a stronger desire for volume vs. convergence all contribute to problem. Yesterday we did see some positive basis (Portland vs. Chicago) for the first time in quite awhile.

The next USDA S&D report will be out tomorrow, and the market is not expecting any major revisions. Do expect a reduction in bean carryouts by 15 myn bu or so. Argie production could be reduced again. No big changes are expected in corn with average carryouts at 1.6 byn bu or so.

Rabobank has rated the ’09-10 Aussie crop at 22.8 myn mt vs. last years 21.4 myn mt. It is still very early, but things are at least started well.

This day in History: 1973: Secretariat wins Triple Crown 1863: Battle of Brandy Station, 1934: Donald Duck debuts

Quote to note: It’s better to say nothing and be thought of as a fool than to say something and remove all doubt. – Abraham Lincoln

***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***