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      7/24/09

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

            Volatility scale is HIGH. Markets are giving back most of yesterday?s gains. We have found a trading range, but it sure does seem wide. Portland still doesn?t seem to want any wheat, and the floor is where? We have one exporter no bid for July, another that doesn?t want any barges for July, August or September. Market is REALLY thin. USDA added another interesting twist to the ?special survey? saga?they will do NO field surveys on the spring wheat/ durum relying totally on farm surveys. That should be interesting, I learned some computer lingo long ago something like GIGO?we?ll see. The calendar says there is one week left in July, and now the market is talking about frost worries on corn?yeah it?s a stretch, but that?s where we are in this market. That will help you understand the volatility in this beast. Record yields were ?04 when the US averaged 160.4. Today; Illinois, Iowa and Indiana are all behind normal, Minnesota is even, Nebraska is ahead?.kinda makes you wonder if even with late plantings if they didn?t try a bit longer season corn (or the normal stuff) in the I states.

            CFTC says they will ?clamp down on participation by the Index funds?. Index funds have been our friends, very stable and only long. Changes to that, will be price negative at least in the short term. This thing is beginning to look like the Farm Bill, its been dragging on for over a year now. Today their most likely attempt is variable storage rates?compelled loadout and switching delivery points to the Gulf are not likely to be recommended. Car makers are asking the EPA to NOT approve higher ethanol rates till more testing is done. We are currently at a ?blend wall?. Ethanol is also getting political pressure from GMA, and various consumer groups. Without higher blend rates corn usage to ethanol will stall out.

            China will auction off 2 myn mt of corn on 7/28. This will complete their sales. There has been lots of talk about this El Nino that is forming. Normally El Nino?s are assoc with strong ? SOI readings, today that isn?t happening. IF it does develop, it is seen as hotter/ drier in the East Aussie, not so bad in the West. MOST of the Aussie exports come from the west.

***Didja Know: Will Rogers: ?Good judgment comes from experience, and a lot of that comes from bad judgment??.Here?s one for all those leaders/ would be leaders out there: If your riding ahead of the herd, take a look back every now and then to make sure its still there?

                                                HAVE A SAFE AND GREAT WEEKEND!!!