Allenale Wake Up Call Oct 11
Oct 11, 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 10/10/13: Once again the day session traders started today by moving in the opposite direction of the overnight trade. There was some early talk about potentially reducing the amount of ethanol produced by the mandate but follow up news was quick to disregard that talk right now. A difference today from the rest of the week is that…More Corn Comments
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Soybeans 10/10/13: Early today’s in the session we tested the weeks high but after failing to take the highs out the market sold back off. China announced that they will be auctioning off 500,000 tonnes of beans from the 2009 crop year this week and that added to today’s weakness. With an open weather window, harvest continues to pick up speed and that should help fill up the pipe line. The November/January spread has…More Bean Comments
Wheat 10/10/13: Analysts estimate the US winter wheat crop is now about 55-65% complete, which is right in line with the 5-year average. However, there is still a lack of subsoil moisture in about 40% of the growing area and the areas will need rainfall to have a good quality crop. US HRW yields were a record 46.8bu/acre for the 2013 crop…More Wheat Comments
Lean Hogs 10/10/13: During normal times the trade is able to evaluate cash hogs, cash pork, futures, and slaughter levels in order to gauge how well the market is dealing with various supply changes. In the initial days of the government shutdown the lack of information on three of those four categories was not too much of a problem as there was little new news to digest. Now we are seeing..More Hog Comments
Live Cattle 10/10/13: With bids posted at prices equal with last week’s $126 the trade now expects cash to trade at $127 tomorrow. That was good news, and prices did react today but it is not yet enough to justify…More Cattle Commentary
Call your Allendale Representative with questions at 800-262-7538.
Markets as of 5:00 AM
- Dec Corn -3 3/4
- Nov Beans -4 1/2
- Dec Wheat -1 1/4
- Dec Cattle +.12
- Dec Hogs +.10
- Dec Dlr -1.42
- Dec S&P +1.25
- Nov Crude -1.26
- Dec Gold -1.15
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