Jul 22, 2014
Home| Tools| Events| Blogs| Discussions| Sign UpLogin


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.
 

EU Optimism Supports Markets

Nov 27, 2012

Good Morning! Paul Georgy with early morning comments for November 27, 2012 at 4:50 am. Grains futures are higher due to optimism after the Greece deal. The EU finance ministers agree on a package that cuts Greek debt to 124% of GDP by 2020 and will extend loans. The weekly crop conditions for wheat were lowered 1% by USDA this week to 33% good/excellent. This will be the poorest conditions going into dormancy for winter wheat on record. The current long term NOAA forecast suggests winter wheat conditions could worsen. It also implies above normal temps for the Midwest during corn and soybean planting. Weather conditions in South America have traders focusing on Argentina’s wet conditions. With the delay in corn planting there, traders are concerned about the timing of new crop harvest and the ability to fill world needs. However, December plantings are not too late for a good crop but it will be difficult to hit the March market with corn. Soybeans acres will likely increase in Argentina as they would in the US when plantings are delayed. Brazil is no longer the worry of traders as conditions there are mostly ideal. Export shipments out of South American ports are concerning to end users as some loading facilities are delayed 45 day or more. The direction of the US dollar will have an impact on trader sentiment as we move through the "fiscal cliff" negotiation and holiday trading volume. Livestock futures sold off yesterday on fund profit taking. Last week’s high will now be important resistance. We expect firm product markets this week on restocking by retailers. Choice beef was down .22 and select was down.14 on Monday. Pork cutout values were up .42. The Allendale Ag Leaders Conference is only 2 months away. Reserve your seat TODAY.
 
 
Markets as of 4.50 AM
Dec Corn    +4 1/2
Jan Beans   +10 1/2
Dec Wheat   +6 1/4
Dec Cattle +.30
Dec Hogs    -.50
Dec Dlr     +.07
Dec S+P     -1.00
Jan Crude   +.11
Dec Gold    -3.30
 
Need more:
Contact us directly view email: research@allendale-inc.com
 
Allendale Advanced Charts
With yesterday’s break above the $14.28 level, I believe that this negates the downtrend and confirms the 11/16 $13.72 1/4 low as the pivot low that must be broken in order reconfirm the downtrend. If my call is correct and we have seen the beginning of a base and reversal, a sideways to slightly higher bias is advised…Frank La Placa
 
Get technical analysis for corn, beans, wheat, cattle, hogs, crude and dollar markets.
 
Nelson Notes from the desk of Rich Nelson
The US grain trade expects USDA to revise down its 28 million tonne corn production estimate for Argentina. That could be seen on the next December 11 monthly supply/demand update. Some suggest there will be switching from corn to soybeans.
 
Contact Allendale: 800-262-7538 research@allendale-inc.com www.allendale-inc.com
 
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.

Log In or Sign Up to comment

COMMENTS

No comments have been posted, be the first one to comment.
Legacy Newsletter
 

Follow Us

Facebook Twitter You Tube
 

Hot Links & Cool Tools

    •  
    •  
    •  
    •  
    •  
    •  
    •  

facebook twitter youtube View More>>
 
 
 
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by AmericanEagle.com|Site Map|Privacy Policy|Terms & Conditions