-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 VTyA0FPCOnwc+LibFWODeCktNz6HPu3WWDIvO9C0D2jHqedOQX6T084NNzZytXiB
 EMpcbhI4jgP2W0drmxyv/w==

<SEC-DOCUMENT>0001209191-03-033411.txt : 20031203
<SEC-HEADER>0001209191-03-033411.hdr.sgml : 20031203
<ACCEPTANCE-DATETIME>20031203155416
ACCESSION NUMBER:		0001209191-03-033411
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031201
FILED AS OF DATE:		20031203

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:		031035385

	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>v94990_bos2rtc.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4</documentType><periodOfReport>2003-12-01</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>10.88</value></conversionOrExercisePrice><transactionDate><value>2003-12-01</value></transactionDate><deemedExecutionDate><value>2003-12-01</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>1207</value></transactionShares><transactionPricePerShare><value>10.88</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2004-06-01</value><footnoteId id="F1" /></exerciseDate><expirationDate><value>2013-12-01</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>1207</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesO
wnedFollowingTransaction><value>1207</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>2003-12-03</signatureDate></ownerSignature></ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----