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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.
 

Markets Prepare For USDA Report and New Trading Hours

Apr 08, 2013

Good Morning! Paul Georgy with early morning comments for April 8, 2013 at 5:00 am. Grain futures are higher as old crop corn and soybeans lead the charge. Spreading has been a feature in early trading. As we start the week, the grain traders have three important influences they will be watching. The Monthly Supply and Demand Report which will be released Wednesday at 11:00 AM CDT, weather forecasts for the Midwest and more news out of China regarding the bird flu outbreak. The trade estimate for corn ending stock is 824 million bushel and soybeans 139 million bushel. Weather forecast has toned down the amount of rain for MO and Southern IL. I am sure we will have many changes before the system is through. Farmers are getting anxious but not ready to change planting plans yet. Remember trading starts daily at 7:00 PM CDT in the evening then halts for 45 minutes at 7:45 AM CDT. Both the pit and electronic open at 8:30 AM and then both will close at 1:15 PM CDT. This is the new trading time for grains which started last evening. The CFTC report on Friday showed money managers reduced long positions in corn by 98,246 which left them long 94,315 contracts. In soybeans they reduced long positions by 35,137 and in wheat increased short positions by 13,244 contracts. Stay in close contact with your Allendale Representative this week. Livestock markets are under pressure and the employment numbers took the wind out of the bull’s sails. The bottom line is less people have the income to afford higher priced meat cuts. Boxed beef prices fell on Friday with choice down .40 and select down 1.24. Pork cutout values were down .17. Subscribe today to the Allendale Advisory Report.

Markets as of 5:00 AM

  • May #Corn    +5 3/4
  • May #Beans   +13
  • May #Wheat   +6 1/2
  • Apr #Cattle  Steady-Lower
  • Apr #Hogs    Steady-Lower
  • Jun Dlr     +.09
  • Jun S&P     +4.25
  • May Crude   +.67
  • Jun Gold    +1.20

 

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

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