Jul 28, 2014
Home| Tools| Events| Blogs| Discussions Sign UpLogin


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.
 

Grain Futures Are Higher

Apr 18, 2013

Good Morning! Paul Georgy with early morning comments for April 18, 2013 at 5:05 am. Grain futures are higher as most traders in the Chicago area listen to the rain falling. The rain event moving through the Midwest has traders concerned about the planting progress as the calendar quickly nears May 1st. This concern is causing profit taking in the bull spreads. There is some exiting of May futures position as we are down to 7 trading days before first notice day. Tight supplies of soybeans and poor crush margins have processors slowing down production which is causing a very volatile cash meal market. Soybean meal basis jumped $4 to $6 on Wednesday. Demand for old crop corn and soybeans will be important numbers when USDA releases the weekly export data this morning at 7:30. Trade estimates are for corn old crop 100 to 300 tmt and new crop 100 to 400 tmt, soybeans old crop 100 to 500 tmt and new crop 50 to 500 tmt, soymeal 50 to 225 tmt and  new crop 0 to 200 tmt, soyoil old crop 0 to 15 tmt and wheat old crop 50 to 325 tmt and new crop 80 to 500 tmt. As many of you prepare to go to the field, Allendale is providing a free text message market update at 11:30 am. Just fill out the signup information by clicking here. China’s bird flu problem continues to grow as more are found ill from the virus. The Cattle on Feed Report will be released on Friday at 2 pm. Trade estimates are for cattle on feed to be 6% less than last year, placement’s range from 92.1% to 103.2% of last year. Marketing’s during March are expecting to be 96.6% of last year’s number. Traders are looking for some positive news to help support futures and cash. Feedlot trade is still at a standstill with offers at 126 to 127. Boxed beef was higher on Wednesday with choice up .88 and select up .56. The feeder cattle index is 135.61 down .25. Pork cutout values are up 1.01. Check out the Allendale Advisory Report for more details.

Markets as of 5:05 AM

  • May #Corn    +1/4
  • May #Beans   +6 3/4
  • May #Wheat   +6 3/4
  • Jun #Cattle  +.15
  • Jun #Hogs    +.02
  • Jun Dlr     -.17
  • Jun S&P     +5.75
  • May Crude   +.89
  • Jun Gold    +11.00

 

View the Chart of the Day

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

Log In or Sign Up to comment

COMMENTS

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