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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.
 

Traders Wait for Further Direction

Dec 06, 2012

Good Morning! Paul Georgy with early morning comments for December 6, 2012 at 4:45 am. Grain futures are mostly higher. Soybean complex has posted new highs for recent move overnight. Talk of China buying beans and weather in Argentina is providing support. The uncertainty of the ability of Congress to work out a plan to keep the US economy from going over the "fiscal cliff" is causing many traders to reduce positions going into year end deadline. Ethanol production last week was higher than the previous week but 12% below a year ago. The USDA target for ethanol use is 10% below last year. Weekly export sales will be released at 7:30 this morning. Trade estimates are for corn 350 to 550 tmt, soybeans 500 to 700 tmt, soyoil 50 to 100 tmt, soymeal 150 to 300 tmt and wheat 350 to 500 tmt. The USDA report will be the next talked about report. There should be no adjustment to US production on this report however there could be revisions on the demand side. We expect USDA to lower their estimates on Argentina corn production. Cash cattle traded in Nebraska at 122 for a few head of heavy cattle. Trade this week is expected to be lower than last week’s 125 on cattle in KS and TX. Show lists are large and margins are deep in the red. Packers have yet to bid for cattle in the south. Boxed beef was lower with choice down .16 and select down 1.69. Pork cutout was down .17. Watch for headlines to move market. Stay tuned to Allendale Advisory Report to get the full story. Get all the price outlooks for 2013 at the Allendale Ag Leaders Conference on January 25 and 26, 2013. Reserve your seat TODAY
 
Markets as of 4:45 AM
Mar Corn    - 1/4
Jan Beans   +4 1/4
Mar Wheat   +2 1/4
Feb Cattle +.15
Feb Hogs    -.40
Mar Dlr     +.01
Mar S+P     +.25
Jan Crude   +.23
Feb Gold    +.30

Visit www.allendale-inc.com for the entire Wake Up Call report and more commodity reports and advice.

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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