Jul 14, 2014
Home | Tools| Events| Blogs| Discussions Sign UpLogin

AgDay Blog


The Allendale Wake-Up Call

RSS By: Paul Georgy, AgWeb.com

Paul Georgy serves as president/CEO of Allendale, Inc., a worldwide agricultural advisory and research firm that provides agricultural commodity price research and risk management alternatives for producers, major food companies, international corporations, foreign governments, and major news vendors.
 

Bargain Hunters Support Grains

Nov 13, 2012

Good Morning! Paul Georgy with early morning comments for November 13, 2012 at 4:40 am. Grains are higher as buyers look for bargains after the sharp sell-off. Can "Turnaround Tuesday" stop the selling in the grain futures? Yesterday the markets were flooded with technical selling when soybeans could not hold the 200 day moving average and December corn could not maintain the 7.32 support level. Fundamental news has not changed significantly. South American weather is not ideal but improving. South American analysts put Brazil soybean plantings ahead of the 5 year average while corn planting is only 61% versus 74% last year. The US crop conditions report will be released this afternoon with wheat good/excellent possibly dropping another 1%. Corn harvest should be 99% complete and soybean harvest 98% done. With the markets closing below key support areas, technical traders will now be looking for rallies to sell. However, fundamental traders will be looking for positive news to stop the slide. Exports will be the area to watch as US corn is now within $10.00 per tonne of being competitive to Japan. Gulf basis jumped yesterday as lower prices stalled farmer selling. The Mississippi River navigation problem between St. Louis and Cairo is being lobbied in Washington. The US financial problem will take front and center starting Friday as the President calls leaders together to work on cutting the budget by $1.2 trillion. Livestock traders are looking at the weaker grain prices and wonder if they should believe it or not. Packer margins are deep in the red and they are not willing to show their hands although beef product values are expected to improve after Thanksgiving. The next 2 weeks could provide the highest weekly pork production for the 4th quarter. Boxed beef was higher on Monday with choice up 1.43 and select up .15. Pork cutout values were down .90.
 
 
Markets as of 4:40 AM
Dec Corn    +6 1/4
Jan Beans   +10
Dec Wheat   +4 1/2
Dec Cattle -.02
Dec Hogs    +.22
Dec Dlr     +.14
Dec S+P     -9.00
Dec Crude   -.63
Dec Gold    -4.20
 
Need more:
Contact us directly view email: research@allendale-inc.com
 
Allendale Advanced Charts
Yesterday Jan Soybeans continued its epic collapse with a new leg lower stopping just shy of old resistance turned support at the $14.00 level. Due to the extreme trendiness with which the Soybeans are making its lows, we are recommending only short exposure or a full hedged position in the Soybeans…Frank La Placa
 
 
Get technical analysis for corn, beans, wheat, cattle, hogs, crude and dollar markets.
 
Nelson Notes from the desk of Rich Nelson
US: The centerpiece of USDA’s Friday report was the revision higher of this fall’s soybean production forecast. Yield was increased from 37.8 to 39.3. This allowed for them to make all the bullish changes to demand you could ask for and still have enough supply left over. This was a clear psychology changer for soybeans.
 
 
Contact Allendale: 800-262-7538 research@allendale-inc.com www.allendale-inc.com
 
This material has been prepared by a sales or trading employee or agent of Allendale Inc. and is, or is in the nature of, a solicitation. This material is not a research report prepared by Allendale Inc.’s Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions. DISTRIBUTION IN SOME JURISDICTIONS MAY BE PROHIBITED OR RESTRICTED BY LAW. PERSONS IN POSSESSION OF THIS COMMUNICATION INDIRECTLY SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH PROHIBITION OR RESTRICTIONS. TO THE EXTENT THAT YOU HAVE RECEIVED THIS COMMUNICATION INDIRECTLY AND SOLICITATIONS ARE PROHIBITED IN YOUR JURISDICTION WITHOUT REGISTRATION, THE MARKET COMMENTARY IN THIS COMMUNICATION SHOULD NOT BE CONSIDERED A SOLICITATION. The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance, whether actual or indicated by simulated historical tests of strategies, is not indicative of future results. Trading advice is based on information taken from trades and statistical services and other sources that Allendale Inc. believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.

Log In or Sign Up to comment

COMMENTS

No comments have been posted, be the first one to comment.

MARKETS

CROPSLIVESTOCKFINANCEENERGYMETALS
Market Data provided by Barchart.com
Enter Zip Code below to view live local results:
bayer
 
 
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by AmericanEagle.com|Site Map|Privacy Policy|Terms & Conditions