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 / 10

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

               Markets didn’t take Friday off! Futures called up 1-4 opened up a dime, quickly moved to +.24 and just stuck there. Corn is even feeling a little love from the wheat pits, up 8 in sympathy. IF this drought is as bad as advertised, corn will explode, if not wheat will collapse…there are plenty of articles out there to promote both ideas. Here is a quote I found ‘interesting’: “Comfortable supply levels should keep prices from returning to record levels above $13. Inventories for the 2010-11 marketing year are pegged at a 23-year high”. And so it goes. I made a comment the other day that I hadn’t seen markets like this in 30+ years…then Bloomberg ran an article that said we are seeing the biggest 1 month wheat move since 1973 (year of the “Great Grain Robbery”). It was before my time, and although I remember ‘old timers’ talking about it, I can’t find out exactly how quickly/ or how fast that one faded. The numbers that drove that rally were truly staggering (also a demand driven rally). While searching for perspective, when we had the ‘surge’ of ’07, (worldwide economies were in GREAT shape, we were just coming off of disasters in the US, France, Germany, Canada and back to back wrecks in Aussie) wheat started its move in earnest in early August of ‘07 at $6.26, by the middle of Oct ’08 it was all over. We went from $6.26 futures/ $6.40 cash to a high cash bid of about $15.85 on 1/28…futures didn’t top out till 2/28 at $12.80. That was a ‘demand driven’ market. This one is a spec driven one. ND crop tour issues final est of 46 bpa for ND.

               Russia’s United Grains said they expect to still export 1 myn mt quota, while there is more speculation that Russia may use intervention stocks for domestic needs (which is what they were intended for, not exports). The Hot/ Dry continues (thought it was supposed to be hot/ dry in July/ Aug?) weather man sez no reprieve for at least the next 7-10 days. India’s monsoon now rated at +7% with above average precip called for Aug/ Sept. Grain Corp of Aussie bot out the AWB making them the largest wheat exporter in Aussie.

HAVE A GREAT WEEKEND!!!

***All bids are subject to change, please call for CONFIRMATION of prices. All information in this letter is from sources deemed reliable, and is for informational purposes only***