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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.
 

Expect More Position Adjusting

Mar 27, 2013

Good Morning! Paul Georgy with early morning comments for March 27, 2013 at 5:00 am. Grains futures are quiet as they trade near unchanged. Thanks to all who attended the Allendale Ag Leaders Webinar last evening. For those of you not able to attend, you will have access later this morning at www.allendale-inc.com . Markets are quiet as we approach the USDA Report on Thursday at 11:00. It appears the trade is focusing on the Quarterly Stocks numbers as they could have a big impact on old crop/new crop spreads. The average guess for planted acres is #corn 97.3 million acres, slightly higher than last year’s plantings. The estimate for #soybeans is 78.394 million acres. The CME has raised the margin requirement for corn which takes effect with today’s trade. This is an effort to control open interest ahead of a potentially very volatile report. Rich Nelson, Allendale’s Chief Strategist did a study which showed in 13 of the past 15 years there was a continued price reaction into April in the same direction as the report day pricing for July and Dec corn. You can get all the details by listening to the Allendale Ag Leaders Webinar which was presented last evening. On Monday we lost $1 to $2 in wholesale beef and today another decline of -$0.15 in choice and -$1.04 in select. End users are generally procuring product for three weeks out. This should be the time when they are starting their excitement for outdoor grilling season. Strong cash trade this week has changed some viewpoints in the hog market. Pork cutout values were down .37 on Tuesday. Hogs and Pigs report on Thursday afternoon at 2:00 pm. Trade average estimates are slightly higher than 100% of year ago in all major categories. Subscribe to the Allendale Advisory Report, ask for Greg and get his special pricing!

Markets as of 5:00 AM

  • May Corn    + 1/2
  • May Beans   - 1/4
  • May Wheat   +1 1/4
  • Apr Cattle  +.07
  • Apr Hogs    -.30
  • Jun Dlr     +.25
  • Jun S&P     -3.50
  • May Crude   -.45
  • Jun Gold    -2.00

 

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

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