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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.

Grains are lower in overnight trade

Dec 18, 2012

Good Morning! Paul Georgy with early morning comments for December 18, 2012 at 5:00 am. Grain futures are lower on technical selling. Soybeans are leading the market lower on profit taking while strong demand should still be an underlying support factor. Corn and wheat are finding pressure this morning on improving weather conditions in the US and SA. Funds reducing their long positions are a contributor to weakness as holiday trade volume is light. In early January the index funds will be realigning positions which could mean a reduction of long positions in KC wheat. Traders are talking about the quarterly stocks and final production numbers which will be released in January. We will continue to watch headlines for details coming out of Washington and weather changes especially any heat developing in SA. A winter weather advisory supported cattle futures to new highs. The tight supplies of market-ready cattle combined with poor feedlot conditions could provide stronger cash this week. Packer margins are in the red. Choice beef was up .17 and select down .89. Cash hogs are lower starting the week as packers have enough numbers to meet needs going into a holiday week. Pork cutout was up .31 on Monday. Join us for the 25th annual Allendale Ag Leaders Conference January 25th and 26th.
Markets as of 5:00 AM
Mar Corn    -5 1/2
Jan Beans   -18 1/2
Mar Wheat   -4 1/2
Feb Cattle +.45
Feb Hogs    +.42
Mar Dlr     -.11
Mar S&P     +4.25
Jan Crude   +.49
Feb Gold    +3.20
Contact Allendale: 800-262-7538
This material has been prepared by a sales or trading employee or agent of Allendale Inc. and is, or is in the nature of, a solicitation. This material is not a research report prepared by Allendale Inc.’s Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions. DISTRIBUTION IN SOME JURISDICTIONS MAY BE PROHIBITED OR RESTRICTED BY LAW. PERSONS IN POSSESSION OF THIS COMMUNICATION INDIRECTLY SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH PROHIBITION OR RESTRICTIONS. TO THE EXTENT THAT YOU HAVE RECEIVED THIS COMMUNICATION INDIRECTLY AND SOLICITATIONS ARE PROHIBITED IN YOUR JURISDICTION WITHOUT REGISTRATION, THE MARKET COMMENTARY IN THIS COMMUNICATION SHOULD NOT BE CONSIDERED A SOLICITATION. The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance, whether actual or indicated by simulated historical tests of strategies, is not indicative of future results. Trading advice is based on information taken from trades and statistical services and other sources that Allendale Inc. believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.

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