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      7/20/09

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

            The $$ is lower, crude is up a touch. Logistics in Portland are already getting plenty interesting. Pushing barges around searching for homes will create some interesting markets to be sure. Portland still acts like they do NOT want any wheat, excepting good quality DNS. Fortunately that?s whats coming out of the fields right now for the most part. Futures were called higher, but with no major weather concerns anywhere (particularly US CORN COUNTRY), the market is struggling for traction. In fact the weather man says corn country will get more GREAT weather. Futures are all red right now.

            COT report showed the specs actually bot (reduced their short position) by 30 myn bu?.they are still running a very large red position of ?220 myn bu. The Index funds are long a WHOPPING 810 MYN bu! The specs sold about 260 myn bu of corn and are now currently only about 20 myn bu short. The funds are maintaining their 1.566 byn bu long. Interesting thing is; IF the we took the number of funds and divided the total fund position by that number?.the funds, even though they own 2 US SRW crops, on average are NOT over limits! Whereas if you did the same thing on corn, the average index fund is holding over 10m caks. Clearly the system is in need of adjustment! When the funds can hold 2 x the crop size in paper and be within limits on one commodity, but only hold 12% of another commodity, and on average be over limit by about 60% something is wrong with the system.

            Inspection report showed ?Good? numbers shipped ex the US for wheat. With 2.6 DNS, 11.1 HRW, 1.9 SRW and 3.6 SWW totaling 19 myn bu for the week. Corn shipments were too light to get the job done. We only shipped 36.8 myn bu. The start of the new corn year starting Sept 1, time is getting short, and its sure beginning to look like we won?t hit the USDA export shipments. Meaning more increased c/o.

***Didja Know: Wisdom from Will Rogers: Never slap a man who?s chewing tabacco, never kick a cow chip on a hot day. There are 2 theories about arguing with a woman?neither works. Never miss a good chance to shut up. Always drink upstream from the herd. If you find yourself in a hole, quit digging. The quickest way to double your money is to fold it in half and put back in your pocket.