Morrow County Grain Growers                                Pendleton Grain Growers

             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      2/ 9 / 10

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

                USDA report was pretty uneventful, but market should find it at least a little supportive early on. Corn: Net effect was a taking of corn carryouts down 45 myn bu. Feed usage was nudged higher by 95 myn bu (this is a bit surprising), ethanol usage was also taken higher by 100 myn bu (not really a surprise as margins have been good, but overall gas usage is down vs. last year). NOTE: As expected there were no changes in production (should come out in March). Overall US corn carryouts are +286 vs. last year at this time. Interesting point is that if there is about 5% of the crop remain in the field (estimated 650 myn bu), and certainly some of that will be lost, excepting sharp adjustments to other usage, we could see carryouts narrow considerably in the March report. WHEAT: Very uneventful. Net impact is an increase of 5 myn bu in carryouts: SRW imports increased by 7 myn bu, HRW exports increased by 10 myn bu, DNS reduced by 5 and SWW imports reduced by 10. All in all a very uneventful wheat report. Wheat futures should gain some benefit from corn and beans though.

            Egypt ordered 1 – 63,000 mt shipment of Russian wheat destroyed as ‘unfit’ for human consumption. Class action lawsuit against the AWB is set to start. There are over 1000 shareholders claiming a loss of over $87 myn. This goes back to the kickbacks, although that is the base cause, the claim holds that the AWB knew and mis-represented information to the shareholders…lawsuit is expected to take 5 weeks….AWB shares are trading $1. Chinese gov’t says that GMO crops are safe, it probably helps that Yunnan province is suffering the worst drought in the last 60 years (only 29% of normal rainfall since last July). Drought has reduced summer crops by 40% and reduced hydro production by 50% so far. They have studied GMO products for years and find no adverse effects on products or environment…and drought tolerant rice will dramatically improve yields.

***Didja Know: The coldest recorded temperature ever recorded was –128.6 in Antarctica (without windchill). Lowest temp ever recorded in the US was –79.8 at Prospect Creek, Alaska (lowest temp in the lower 48 was –69.7 at Rogers pass in Montana. There are actually different types of FOG? Ice Fog and freezing fog are different: Ice fog are actually water droplets frozen in the air and suspended there. Freezing Fog is where water droplets stay suspended in the air until they touch a cold surface, and freeze creating ‘rime ice’.