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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.

Crush Numbers This Morning

Dec 14, 2012

Good Morning! Paul Georgy with early morning comments for December 14, 2012 at 5:00 am. Grain futures are mixed with soybeans and wheat higher, corn is lower. Traders are waiting for the NOPA Crush numbers out this morning. Average estimate is 157.4 million bushels versus 153.5 million bushel in October. South Korea FLC buys 130,000 tonnes of corn from the US and South America for April and June delivery. Senator Durbin, Governor Quinn of IL and other industry officials will meet this morning at 8:30 to discuss how the Mississippi River can stay open. Corn basis at the gulf slid another 2 cents yesterday. Funds were sellers of 7,000 corn contracts and 3,000 wheat contracts yesterday. BACE lowers Argentina’s wheat crop by .320 mmt to 9.8 mmt, USDA is projecting an 11.5 mmt crop. Brazil government announced a commitment of $26 billion to modernize its port system. Demand is still the driver in grains as traders wait for year end. Lower corn prices are creating demand for feeder cattle as traders anticipate tight supplies for 2013. Boxed beef prices were mixed on Thursday with choice down 1.27 and select up .34. December lean hog futures last trading day is today. Pork cutout values were up .25 yesterday. February futures are at a premium to December as traders expect hog supplies to tighten in first quarter. Join us for the 25th annual Allendale Ag Leaders Conference January 25th and 26th.
Markets as of 5:00 AM
Mar Corn    - 1/4
Jan Beans   +14
Mar Wheat   +3 1/2
Feb Cattle +.02
Feb Hogs    +.25
Mar Dlr     -.05
Mar S&P     +3.50
Jan Crude   -.76
Feb Gold    +1.30
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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