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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.
 

Countdown to Thursday USDA Report

Mar 25, 2013

Good Morning! Paul Georgy with early morning comments for March 25, 2013 at 5:00 am. Grains futures are lower. The clock continues to run as the USDA Prospective Plantings number will be released on Thursday at 11:00 AM CT. There are more estimates being circulated as position adjusting will be a feature ahead of the report this week. For more insight into this report join us for the Allendale Ag Leaders Webinar tomorrow night. The CFTC says the managed money fund managers increased net corn longs by 57,864 and reduced soybean long positions by 39,420 contracts as of last Tuesday. Funds also reduced their short positions in #wheat by 8,062 contracts. Farmers opened bin doors slightly on the price rally in nearby corn last week. The weather forecast has not shown much change over the weekend. Informa released their ending stocks estimates for 2013/14 #corn at 2.040 billion bushels and #soybeans at 241 million bushels. Cattle on Feed Report could be considered a little friendly especially with the recent sell off. Rich Nelson, Allendale’s Chief Strategist says Allendale estimates the front end supply of cattle, those on feed for over 120 days, at 4.193 million head. This is 575,000 head smaller front end supply than last year at this time. The last time we saw this big of a year over year supply drop was 2009′s 457,000 head drop. 2009 was one of those years with a late spring rally. In 2009 there was a $5 cash cattle rally from now until the third week of April. Will we see a late spring resurgence in cash cattle this year? On Friday boxed beef values were lower with choice down 1.55 and select down .96. Pork cutout values were down .57. Get the rest of the story by subscribing to the Allendale Advisory Report at www.allendale-inc.com.

Markets as of 5:00 AM

  • May Corn    -2 3/4
  • May Beans   -9
  • May Wheat   -1 1/2
  • Apr Cattle  Steady-Higher
  • Apr Hogs    Steady-Higher
  • Jun Dlr     -.11
  • Jun S&P     +8.00
  • May Crude   +.46
  • Jun Gold    -3.80

Contact Allendale: 800-262-7538 service@allendale-inc.com www.allendale-inc.com

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