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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.
 

Weather will be focus again this week

Aug 27, 2012

Good Morning! Paul Georgy with early morning comments for August 27, 2012 at 5:00 am. Grain futures are higher this morning as traders adjust positions after option expiration. Now that the ProFarmer tour is over, the focus turns to the Allendale Annual Yield Survey. You can participate in this survey by going to www.Allendale-inc.com and sharing with us your farm’s production. This survey has been extremely accurate in years past. This week has several issues to deal with. Hurricane Isaac will be moving on shore in the gulf and now is likely to bring moisture by next weekend into the drought stricken Midwest. This will be beneficial to late soybeans and winter wheat plantings. Typhoon Bolaven will hit China midweek and damage to crops should be limited with the rain providing greater benefit to dry areas. The Fed will be meeting in Jackson Hole, WY and we have to expect more talk of QE3. Crop conditions and harvest progress will be out this afternoon at 3:00 PM. CFTC showed funds were big buyers in corn and soy products last week. Traders will be remembering the corn and soybeans topped this week last year. First notice day is Friday for September CBOT grain contracts. Boxed beef prices closed lower on Friday. Choice was down 1.69 and select was down 1.40. Pork cutout values continued the slide on Friday with prices down .73. With grain price higher we would expect continued pressure on nearby livestock prices. Sign up today for the August 28th Allendale Ag Leaders Webinar .
 
 
Markets as of 5:00 AM
Dec Corn    +2 3/4
Nov Beans   +19 1/4
Sep Wheat   -1
Oct Cattle Stdy-Lwr
Oct Hogs    Stdy-Lwr
Sep S&P     +1.75
Sep Dlr     -.01
Oct Crude   +.96
Dec Gold    +.02
 
Need more:
Contact us directly view email: research@allendale-inc.com
 
Allendale Advanced Charts
Friday’s trade in the Dec corn did find follow through selling. While we have not seen a breakdown on the chart, we have seen a slowdown in upside momentum. The 8/10 pivot high of $8.49 is the major level of resistance that this market must overcome in order to resume the bull market. Going forward, we feel that continued sideways trade should be expected…Frank La Placa
 
Get technical analysis for corn, beans, wheat, cattle, hogs, crude and dollar markets.
 
Nelson Notes from the desk of Rich Nelson
Generally dry conditions for next week, and the government’s current warm forecast for September, should insure spring wheat harvest gets wrapped up without a hitch…Rich Nelson

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