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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.
 

Markets Rebound From Sell Off

Jun 25, 2013

Good Morning! Paul Georgy with early morning comments for June 25, 2013  at 4:45 am.  Grains futures are higher on short covering. Outside markets are also providing support. Can turn around Tuesday give us a higher close today? The June Allendale Ag Leaders Webinar is tonight at 8:00. Rich Nelson will discuss the upcoming Planted Acreage and Quarterly Grain Stocks reports in detail. Sign up NOW! Traders are looking forward to the planted acreage report because the discussion on prevent planting and switching from corn to beans will be over. The trade estimate expecting a 2.0 million reduction in corn planted acreage is less than what has been tossed around in recent days. Harvested acres will be the real number to watch as it will be considerably higher than last year for corn no matter what the planted acreage. Please take our one question poll about expected soybean acres below. Soybean supplies will be impacted greatly by yield adjustments as we go through the growing season. The USDA weekly condition report showed corn crop improving by 1% to 65% G/E, compared to last year’s 56%. Producers as of Sunday had 92% of soybeans planted. Soybean conditions also improved to 65% G/E compared to 53% last year. Yesterday, our trip took us from Springfield IL to Highland IL. It was like traveling to another time zone when compared to north of Springfield. Corn and soybeans were very short and under water in many areas after the weekend rains. They have the heat and the moisture but they need sunshine. Wheat harvest is ready to start but fields are too wet. Wheat harvest in OK and KS is in full swing. We are hearing better than expected yields and good test weights. Hog futures continue to rally as the nearby July is trying to stay up with the cash market. Pork cutout value is 1.14 on Monday. Beef cutout values were mixed with choice down .14 and select was up .36.  The feeder cattle index was 136.75 up .13.

Take our one question poll at www.allendale-inc.com
 

Markets as of 4:45 AM

  • Jul #Corn    +6 1/4
  • Jul #Beans   +1
  • Jul #Wheat   +5 3/4
  • Aug #Cattle  +.32
  • Jul #Hogs    +.07
  • Sep Dlr     -.13
  • Sep S&P     +8.50
  • Aug Crude   +.67
  • Aug Gold    +7.10

 

View Today’s Chart of the Day

If you have any questions on any of our material, give us a call at 800-262-7538 or email us at service@allendale-inc.com

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