Allendale Wake Up Call 10-9-13
Oct 09, 2013
Good Morning! Paul is out of the office this week, celebrating his 40th anniversary. In place of his usual morning notes, Paul thought it would be a good idea to give our non-subscribers a taste of some of our other reports. Have a great week!
Corn 10/8/13: Yesterday saw some active fund short-covering which was met with a good amount of selling. Today the selling was here again but this time without the short-covering or the Chinese buying corn rumor. Sellers were quick to sell back the recent bounce but once this market was within 5 cents of contract lows there was solid support seen once again. Without significant news…More Corn Comments
Soybeans 10/8/13: A turnaround Tuesday dominated today’s trade action as new news to trade continues to be lacking due to the government shutdown. This had yesterday’s buyers becoming sellers today. After a wet weekend that slowed harvest to a crawl…More Bean Comments
Wheat 10/8/13: Weather forecasts suggest some drier weather for the Black Sea region in the forecast, which could result in a few extra hectares of 2014 wheat plantings. However, plantings will still be significantly lower than previously estimated…More Wheat Comments
Lean Hogs 10/8/13: Plugging in our estimates of this week’s kill levels, both weekdays and a 135,000 head run for Saturday, we still think the USDA survey is still not yet up to snuff. This week’s kill would run 4% lower than…More Hog Comments
Live Cattle 10/8/13: While we have heard some estimates of up to 100,000 head of losses from the heavy rains and snows this past weekend in the northwest Plains it looks as though a consensus estimate is around 60,000 head for South Dakota right now. This would represent a 1.5% death loss over South Dakota’s entire cattle herd (3.85 million head). For a nationwide total…More Cattle Commentary
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Call your Allendale Representative with questions at 800-262-7538.
Markets as of 5:00 AM
- Dec Corn +1/2
- Nov Beans -5 1/4
- Dec Wheat -2 1/4
- Dec Cattle -.02
- Dec Hogs +.05
- Dec Dlr +2.68
- Dec S&P +5.00
- Nov Crude -.01
- Dec Gold -1.40
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