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      7/30/09

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

            Crude is up hard, $$ a bit weaker. Futures opened up ?smokin??with wheats up in the teens, beans up 60 and corn up a dime. 1 hour into the session and things are softening, especially in the wheats. Sales report this morning showed good sales for corn with 19 myn bu for ?old crop?, and 30 myn bu for new crop. We only have August left in the o/c slot. We are sitting at 1.817 byn bu sold vs. a USDA projection of 1.8, so we have already hit our sales number, but shipments are lagging. Wheat sales were STRONG at 21 myn bu. This is the first time this marketing year, we have hit our sales objectives. It would be nice to have 25% or more of our sales done by the end of August. North Dakota wheat tour keeps finding a ?bountiful? harvest potential?crop ain?t in the bin yet. DNS estimates are running 44.6 bpa, which is +10 bpa vs. last year. Cali updated their carbon scores for sugar cane based ethanol, numbers look MUCH more favorable. And, its in the news again today?CFTC Gensler (who came from Goldman Sachs) says they are ?committed to making changes?. Posting limits, and enforcing them, more oversight on exemptions, more ?due diligence? and possible re-classification of hedgers/ traders. WKUP?.

            The IGC says world wheat c/o stocks will be the highest since 2001-02. Ending carryout stocks will be a whopping 174 myn mt (thanks mostly to China/ Russia)?wait till they get their hands on some varieties that yield and produce quality. They increased corn production by 13  myn mt vs. last month, but are still 6 myn mt lower than last year. The all important number, the carryout will be 133 myn mt vs. 145 last year. Egypt was in last night and bot 8.8 myn bu of French wheat at $4.95, and 2 myn bu of US SRW @$4.84. Both are FOB values for August TOS. Chinese crushers are holding out for lower pxes. The Chinese gov?t was not able to sell any of the 18 myn bu of beans offered for auction. They will keep trying lowering their target till its gone.

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