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The Allendale Wake-Up Call

RSS By: Paul Georgy,

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.

Greek Elections Calming, but There's Work to Do

Jun 18, 2012


Good Morning! Paul Georgy with early morning comments for June 18, 2012 at 5:00 am. Corn and soybean futures are higher. The weekend provided some relief as many areas received rain and the Greek election went with pro-austerity. There is much work that has to be done in Greece now to stabilize the economy. The French elections went solidly behind the socialist leader. Spain’s bond yields have hit 7% and the G20 leaders will meet today and tomorrow in Mexico. We also have the FOMC meetings tomorrow and Wednesday. With all of these events, the headlines are sure to be market movers. The weather forecast does not look good for the areas that which received little or no rain over the weekend. Crop stress will increase this week with higher temps. However the longer term forecast is improving chances of rain in the eastern Corn Belt next week. Boxed beef was lower with choice down .17 and select down .85. Pork cutout was up 2.54 on Friday. We would expect livestock to open higher on buying support from outside markets. Expect to see support in grain futures as weather forecast provides support. The Allendale Ag Leaders Webinar scheduled for June 26 will answer specific questions on production and acreage before the USDA report, sign up today. Morning Coffee will be updated by 8:00 am
Markets as of 5:00 AM
Jly Corn    +3 1/4
Jly Beans   +10
Jly Wheat   +6 3/4
Aug Cattle stdy-hgr
Jly Hogs    stdy-hgr
Sep S&P     -2.25
Sep Dlr     +.06
Jly Crude   -.07
Aug Gold    -4.2
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Allendale Advanced Charts
Today's outside range day down does imply further weakness. If we do see a close below the extremely important $5.00 level this market could be subject to further losses. Allendale Inc. continues to advise a priced stance in Dec corn for producers.
Get technical analysis for corn, beans, wheat, cattle, hogs, crude and dollar markets.
Nelson Notes from the desk of Rich Nelson
Starting next week the market will hear of more reports of pollination for Kentucky, Missouri, Southern Illinois, and Southern Indiana. Corn wants to see low temperatures, adequate soil moisture, and normal precipitation during this time. For those new to trading grains, the three to four week period of nationwide pollination determines up to 50% of total yield.
Contact Allendale: 800-262-7538
There is a significant risk of loss when trading futures and options contracts. This information is not to be construed as an offer to sell or a solicitation or an offer to buy the commodities herein named, and each investor should consider the appropriateness of trading on this information, based on their objectives. The factual information of this report has been obtained from sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. Past performance is not indicative of future results.


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