The 26th Allendale Ag Leaders Conference Starts at 2:00 pm
Jan 28, 2014
Good Morning! Paul Georgy with early morning comments for January 28, 2014 at 4:45 am.
Grain futures are steady to higher. Below normal temps are providing support for the wheat.
The extreme weather conditions are normal for the Allendale Ag Leaders Conference. Over the past 25 conferences, many times, attendees had to fight extreme winter weather conditions to get here. This year we are coming to your home computer, iPad or smartphone instead of you having to drive to Crystal Lake, IL. With extreme weather conditions keeping you near home today, use the opportunity to login at 2:00 pm central time and hear Drew Lerner from World weather Inc. share his forecast for the 2014 growing season. Sign-up now, there is still time to register. You will get price outlooks and trade recommendations during the Wednesday and Thursday sessions. The weather session today will not be recorded so the live session is your only chance to listen to Drew’s forecast.
Register now to get our full price projections, trade strategies, Drew Lerner’s 2014 weather outlook and more right on your home or office computer!
Full Agenda | Registration
Congressional negotiators reached an agreement on the long awaited Farm Bill. Senator Stabenow applauds the removal of direct payment subsidies which were made regardless of need. The vote by both Senate and House could be completed by as early as next week.
Gulf basis for soybeans continues to weaken as Brazil harvest progresses and ships are being loaded. Chinese Lunar Holiday starts on Friday and runs through next week, likely keeping export announcements quiet.
The propane shortage has caused Iowa’s Governor to send a letter to President Obama asking for help to ease the shortages. Wisconsin’s Governor is committing dollars to helping relieve the shortages.
Fed Chairman Bernanke’s last meeting as chairman starts today. Traders are waiting for more news on tapering as the new chairman takes over at the Federal Reserve.
Livestock traders are wrestling with the high price of beef cutout values. How is the retailer going to deal with the sharp increases? Is this another fall of 2003 when cattle prices rallied sharply then fell back as quickly? Can pork benefit even with the continuation of record carcass weight?
Tighter pork supplies are on the horizon as we are hearing more reports of PEDv. A second case of PEDv was found on a hog farm in Ontario, Canada. Pork cutout values were up 1.66 on Monday.
Beef cutout values were higher with choice up .78 and select up .81. The CME feeder Index is 171.22.
Ag Leaders Conference
Markets as of 4:45 AM
- Mar Corn + 1/4
- Mar Beans +1 1/4
- Mar Wheat +3 1/4
- Feb Cattle +.05
- Feb Hogs +.10
- Mar Dlr +.17
- Mar S&P +9.00
- Mar Crude +.47
- Feb Gold -9.10
Chart of the Day
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