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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 HL5LRNvTE9GzYZ/CRP/b/QqvXhXtwtftF3Px6DmHt6W4q0o7LYUPDNn8CaWZRwci
 m3W0LNeMH8sCF2Ljyc4Wzg==

<SEC-DOCUMENT>0001209191-03-020296.txt : 20030904
<SEC-HEADER>0001209191-03-020296.hdr.sgml : 20030904
<ACCEPTANCE-DATETIME>20030904181849
ACCESSION NUMBER:		0001209191-03-020296
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030902
FILED AS OF DATE:		20030904

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CROWDER RICHARD T
		CENTRAL INDEX KEY:			0001187316

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-11488
		FILM NUMBER:		03882314

	BUSINESS ADDRESS:	
		STREET 1:		777 108TH AVENUE
		CITY:			BELLEVUE
		STATE:			WA
		ZIP:			98004
		BUSINESS PHONE:		4254626000

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PENFORD CORP
		CENTRAL INDEX KEY:			0000739608
		STANDARD INDUSTRIAL CLASSIFICATION:	GRAIN MILL PRODUCTS [2040]
		IRS NUMBER:				911221360
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			0831

	BUSINESS ADDRESS:	
		STREET 1:		7094 SOUTH REVERE PARKWAY
		CITY:			ENGLEWOOD
		STATE:			C0
		ZIP:			80112-3932
		BUSINESS PHONE:		303-649-1900

	MAIL ADDRESS:	
		STREET 1:		7094 SOUTH REVERE PARKWAY
		STREET 2:		-
		CITY:			ENGLEWOOD
		STATE:			C0
		ZIP:			80112-3932

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PENWEST LTD
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bos92900_bos3rtc.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4</documentType><periodOfReport>2003-09-02</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0000739608</issuerCik><issuerName>PENFORD CORP</issuerName>        <issuerTradingSymbol>PENX</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001187316</rptOwnerCik><rptOwnerName>CROWDER RICHARD T</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1></rptOwnerStreet1><rptOwnerStreet2>UNIT 1116</rptOwnerStreet2><rptOwnerCity>ALEXANDRIA</rptOwnerCity><rptOwnerState>VA</rptOwnerState><rptOwnerZipCode>22314</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><derivativeTable><derivativeTransaction><securityTitle><value>NQ Stoc
k Option (Right to Buy)</value></securityTitle><conversionOrExercisePrice><value>9.83</value></conversionOrExercisePrice><transactionDate><value>2003-09-02</value></transactionDate><deemedExecutionDate><value>2003-09-02</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>1336</value></transactionShares><transactionPricePerShare><value>9.83</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2004-03-02</value><footnoteId id="F1" /></exerciseDate><expirationDate><value>2013-09-02</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>1336</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwn
edFollowingTransaction><value>1336</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction><derivativeTransaction><securityTitle><value>NQ Stock Option (Right to Buy)</value></securityTitle><conversionOrExercisePrice><value>9.83</value></conversionOrExercisePrice><transactionDate><value>2003-09-02</value></transactionDate><deemedExecutionDate><value>2003-09-02</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>3053</value></transactionShares><transactionPricePerShare><value>9.83</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2004-03-02</value><footnoteId id="F1" /></exerciseDate>
<expirationDate><value>2013-09-02</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>3053</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>4389</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">Options vest in full six months from date of grant.</footnote></footnotes><ownerSignature><signatureName>/s/ Margaret Von der Schmidt Attorney-in-Fact for Richard T. Crowder</signatureName><signatureDate>2003-09-04</signatureDate></ownerSignature></ownershipDocument>

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</SEC-DOCUMENT>
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