Morrow County Grain Growers

Morrow County Grain Growers, Inc.
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Morrow County Grain Growers, Inc. ~ Grain Market Report
Duane Disque : Department Manager
email: duaned@mcgg.net
Brian Peiler : Grain Merchandiser / Risk Manager
email: brianp@mcgg.net

Ph: (541) 989-8221 Toll Free: 1-800-452-7396 fax: (541) 989-8229

Portland Grain Prices: Monday, February 8, 2010 2:10 p.m.

	SWW	PROTEIN PREMIUM ***	HRW*	DNS**	Barley
February	$4.85		$5.40	$6.75	$120/ton
March	$4.90	--	$5.40	$6.78	$120/ton
April	$4.95	--	$5.47	$6.78	$120/ton
May	$4.95	--	$5.49	$6.65	---
June	$4.90	--	$5.50	$6.54	---
July	$4.70	--	$5.58	$6.39	----
August	$4.60	--	$5.60	$6.35	----
September	$4.70	--	$5.65	$6.35	----
October	$5.05	--	$5.72	$6.47	----
November	$5.10	--	$5.77	$6.52	----
August 2011	$4.80				----

All bids are basis coast for delivery to any MCGG elevator and CLD @ Boardman and Arlington. Fuel surcharge for February is 16%. *HRW Basis 11.5 Protein. +.15 per 1/2 to 13 protein, -.25 per 1/2 below 11.5 protein **DNS Basis 14% Protein. +.20 per 1/4 up to 16 protein, -.25 per 1/4 below 14 protein.

***	*CHICAGO FUTURES*	***
WHEAT - March	CORN - March	BEANS - March
4.84 +10 3/4	3.56 +4 1/2	9.29 1/2 +16

Market Commentary: U.S. grain futures settled higher today thanks in part to a softer US$ and position squaring ahead of tomorrow's USDA February S&D report. Speculative funds currently hold a substantial short position in CBOT wheat as confirmed by the latest Commitment of Traders Report. Traders are not anticipating any big changes from the USDA's previous estimates with trade guesses for wheat carryout ranging between 876 mb to 1 bb with the average guess at 973 mb. Commodity funds bought an estimated 4000 contracts of CBOT wheat. The DJIA closed below 10K for the first time in 3 months on continuing oversea debt worries and doubts on the economic recovery. Technically support on CBOT March wheat is $4.69 then $4.60 and resistance is $5.00 and then $5.72. SWW cash bids steady nearby a bit softer in the deferreds.

All bids are subject to negotiation. Please call for confirmation.
The information contained in this letter is taken from sources deemed reliable, but not guaranteed on accuracy or completeness and is for informational purposes only.