GRAIN HIGHLIGHTS

CHICAGO (Dow Jones)--Ongoing drought in Argentina is threatening to decimate the corn crop and has given the Chicago
Board of Trade corn market underlying support, but opinion is split on whether it will end the dry spell for U.S.
exports.

FOCUS: Farmers See Steady Yields In Top Brazilian Soy State
SAO PAULO (Dow Jones)--Brazil's leading soy-producing state, Mato Grosso, is producing steady, better-than-expected
yields from the new 2008-09 soybean crop, despite farmers' using less fertilizer on their fields, analysts said.

STORIES OF INTEREST:

Argentina December Wheat, Corn Exports Down On Year - Senasa
BUENOS AIRES (Dow Jones)--Argentina exported 716,829 metric tons of wheat in December, down from 1.35 million tons
shipped during December 2007, according to Senasa.

Egypt's GASC Tenders To Buy 55,000-60,000 Tons Wheat
CAIRO (Dow Jones)--Egypt's state-owned General Authority for Supply Commodities, or GASC, said Thursday it was
tendering to buy 55,000 to 60,000 metric tons of wheat on a free-on-board basis.

EU Wheat: Dn; Lacks Direction, Outright Activity Weak
LONDON (Dow Jones)--European wheat futures traded lower Thursday, stunted by a standoff between buyers and sellers.

IGC 08-09 World Grain Output 1.788B Tons, +19M Tons On Nov
LONDON (Dow Jones)--The International Grains Council Thursday forecast 2008-09 world grain output at 1.788 billion
tons, up 19 million tons from its November figure.

Commodities Market Impact Weather: Argentina Remains Dry
OMAHA (Dow Jones)--Continued dryness in central Argentina, generally favorable weather over the major Brazil crop
areas, no change from dryness in Southern Plains areas, and the impact of warmer temperature ahead for next week in the
Midwest are the main weather items for the commodity trade's attention Thursday.

MARKETS

CBOT Corn Review: Dips As Economy Weighs; Exports Suppport
CHICAGO (Dow Jones)--Chicago Board of Trade corn futures ended lower Thursday on the weak economy and spillover
pressure from outside markets, while strong export sales limited losses, analysts said.

CBOT Soy Review: Lower; Weather, Economic Woes In Focus
CHICAGO (Dow Jones)--Chicago Board of Trade soybean futures ended lower Thursday, succumbing to speculative sales
associated with Argentina's weather and economic uncertainty.