Watch FilmoFlix. The mortgage is due by 6 p.m. or Grandma and Oswald will lose the homestead. Oswald is forced to take the beloved old milk cow to market. On the way, he's accosted by a scary old witch. She wants the cow and gives Oswald a bag of magic beans in exchange. The beans grow into a huge beanstalk which transports Oswald to a giant ogre's castle in the clouds.