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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.
 

Grains are Finding a Lower Start this Morning

Apr 04, 2013

Good Morning! Steve Georgy with early morning comments for April 4, 2013 at 5:01 am. Corn has tried to find strength over the last few days but has not been able to push higher. We are still seeing negative price movement due to residual selling from last Thursday's report. The numbers were bearish and could remain that way until we get a better look at the breakdown on the Supply and Demand report next Wednesday. Beans are a little concerning now that the market is talking about a Bunge soy plant in Kansas shutting down. This may indicate that we could see a downturn in crush and may keep a negative tone over the beans. We are also hearing talks of bird flu in China. This will have a negative impact on bean imports until they get this under control. Wheat has been very strong over the last few days and managed to have a 25 cent rally yesterday. The rumor that was circulating is that China bought 500K tonnes of US wheat. This has not been confirmed yet but the trade will be watching the news wires around 8:00 to see what gets reported this morning. Weekly grain exports will be released this morning at 7:30. The trade is expecting corn to be between 175,000 tonnes and 450,000 tonnes, beans between 300,000 tonnes and 625,000 tonnes, and in wheat they are expecting 400,000 tonnes to 700,000 tonnes. The dollar is strong this morning after dropping more than 60 cents in the last two days due to weaker than expected private sector jobs numbers. This strength may keep a negative tone across commodities this morning. Cattle are higher this morning as yesterday’s chatter continued to see hopes of steady to higher cash trade this week. If you are not a subscriber to the Allendale Advisory Report I suggest you should sign up today. We expect some volatile markets as we move into the summer and you want to be in touch.

Markets as of 5:01 AM

  • May #Corn    -2
  • May #Beans   -3 1/4
  • May #Wheat   -3 1/4
  • Apr #Cattle  +.32
  • Apr #Hogs    +.25
  • Jun Dlr     +.60
  • Jun S&P     +7.25
  • May Crude   -.05
  • Jun Gold    -10.00

 

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

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