Apr 23, 2014
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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.
 

Most Important Pollination Time is Next Two Weeks

Jul 17, 2013

Good Morning! Paul Georgy with early morning comments for July 17, 2013 at 5:10 am.  Grain futures are mixed as prices retreat from early session highs. Outside markets are waiting for Fed Chairman Bernanke’s comments to Congress later today. Corn will remain sensitive to weather forecasts as we approach peak pollination time. Soybeans have led the charge higher in recent days due to tight cash supplies and deep discount of nearby futures. Soybean basis slipped again yesterday as processors are suggesting they have enough inventory for the moment with new crop only a few months away. Cash meal remains strong as some processors are shutting down for seasonal maintenance. China is expected to import a record amount of soybeans in July. US wheat harvest is progressing rapidly with the current period of dry weather. Russia is forecasting an abundant small grain harvest this year. Currently Black Sea wheat is $100 per ton cheaper than US with Aussie wheat $50 to 60 per below US. Wheat, domestically, is filling the void for corn supplies in feedlot areas. Spreading wheat versus corn has received some interest by seasonal traders. Livestock markets struggle as cash bids and offers are several dollars apart. Packer margins are not providing the incentive for higher feed prices yet. Feeder cattle are finding support because of the potential for lower feed cost and a potential tight supply of market ready cattle in the 4th quarter. Cattle-on-Feed report is out on Friday at 2:00 pm. Pork cutout values were down .68 on Tuesday. Tight cash hog supplies and the deep discount of August futures to cash is giving support to futures buyers. Sign up today for the July Ag Leaders Webinar next Tuesday July 22. Thanks to all who participated in the Allendale Poll yesterday.

We asked: In what timeframe will your corn tassel and pollinate?

July 17-23–28.19%
July 24-30–38.3%
July 31-Aug 6–22.34%
Aug 7-13–8.51%
After Aug 14–2.66%

 

Markets as of 5:10 AM

  • Dec Corn    – 3/4
  • Nov Beans   -4 3/4
  • Sep Wheat   +2 1/4
  • Aug Cattle  +.02
  • Aug Hogs    +.12
  • Sep Dlr     +.05
  • Sep S&P     -4.00
  • Aug Crude   -.5
  • Aug Gold    -5.50

 

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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