Jul 25, 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.
 

Grains Give Back Gains

Mar 18, 2013

Good Morning! Paul Georgy with early morning comments for March 18, 2013 at 5:05 am. Grains futures are lower. Corn and wheat give back some of last week’s gains and soybeans continue the slide. The US Dollar's sharp rally is providing some headwinds for the bulls. Traders are watching the weather forecast for the Midwest which currently has another system moving through later this week. Planting delays are already being talked about. We are only ten days away from a very important report from the USDA. On March 28th, we get the Prospective Plantings and Quarterly Grain Stock Reports. Managed Money Funds last week increased long positions in corn by 24,807 contracts, soybeans by 11,048 contracts. They reduced their short positions in wheat by 4,767 contracts. A Brazilian analyst put their double crop corn production 4.8 mmt higher than USDA. The next 2 weeks will be very choppy with USDA report concerns and spreaders dominating much of the volatility between old crop and new crop pricing.  For cattle, the four week average slaughter is running 5% lower than last year. This week’s Cattle on Feed report will confirm that feedlots are holding 6% fewer cattle than last year. Lean hog futures continued to struggle with Chinese media coverage of their "hog dumping" problem which is hurting their pork demand. Choice beef was down .56 and select was down 1.20 on Friday. The Feeder Cattle index is 137.19. Pork cutout values were up 1.51 on Friday.

Markets as of 5:05 AM

  • May Corn    -5 3/4
  • May Beans   -15
  • May Wheat   -8 1/2
  • Apr Cattle  Steady-Lower
  • Apr Hogs    Steady-Lower
  • Jun Dlr     +.32
  • Jun S&P     -12.25
  • Apr Crude   -.82
  • Apr Gold    +10.20

 

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