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      7/21/09

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

            Hmmm another day, same story. Crude up a little, US $ is still weak. Futures are all lower again this morning. We have seen this happen, then right at the close either rally to post a small positive number, or on the days when futures were up, drop back toward the original starting point. What we have seen the last week or so is some pretty solid consolidation as the market finds buoyancy after the latest round of reports. The question is; will the next leg be up or down? Some things to think about:

            Corn; Pollination, though not complete will be in the next 7-10 days and it seems you couldn?t hardly ask for better weather, especially consider, the cool/ wet start. Crop scores are still 71% G-Ex. As far as the crop is concerned the only big fear/ bargaining chip left is: growing degree days, and the talk of ?what about an early frost?? For now the crop appears to be made, and the yield estimates will need to be increased vs. the last USDA numbers. So strength will come from where? IF the economy shows dramatic improvement we will see increased usage toward ethanol, also the feed/ dairy industry will start to heal also pulling on demand. Otherwise it really only leaves increased exports. A weak $$ is helpful, but even the $$ seems range bound today. We watch the export meter, but its like watching a pot waiting to boil, so far not much activity. Mexico and Egypt both bought corn (both old crop and new crop) but the sales didn?t appear to be ?bargain hunting?. We are not yet at the bottom.

            Wheat; Overall world wheat production continues to get tweaks, but still no major problems anywhere. We have some gains, some losses that roughly offset each other. It appears the balance of the US crop will get harvested without much trouble, and overall quality has been good. We do have the chance that the Aussie crop will struggle into harvest. Today it seems a stretch, but is an unknown. Otherwise it is exports. We also have some spec short covering that at some point will help the futures post harvest. Then there is the big ?? What will growers do with CRC? Today its routine stuff; Japan booked 3.2 myn bu on their weekly tender. Its dark and I can?t feel the floor yet?.

            China sold about 1/3 of their corn from state auction, still have 56 myn bu to offer. India?s rice planting is 76% complete vs. 51% avg. The AWB halted all trading, but did not offer any explanation.

***Didja Know: More from Will Rogers: There are 3 kinds of men; the ones that learn by reading. The few that learn by observation, and the rest that have to pee on the electric fence and find out for themselves?.