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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.

Grains Gain To Start Week

Jan 28, 2013

Good Morning! Paul Georgy with early morning comments for January 28, 2013 at 5:10 am. Grain futures are higher in narrow trading ranges overnight. In the next few weeks we will likely see a tug-o-war between the supply side traders and the demand side traders. South American weather and tight US supplies of corn and soybeans will provide the support to the market and the poor exports for corn and the poor ethanol demand will provide the negative bias. More rain has been added to the Argentina growing region for this week with more moisture in the 6 to 15 day period. POET, the second largest ethanol producer said Friday it was closing its Macon, MO plant due to corn availability. We have a mid-February USDA Supply and Demand report but everyone is already taking about the USDA Outlook Conference at the end of February. Producers will be watching the average prices for new crop corn and soybeans during February as the crop insurance prices are set. The CFTC Commitment of Traders Report had managed money increasing long positions in corn by 9,658 and in soybeans by 18,358. They increased their short positions in wheat by 2,990. The Cattle-on-Feed report showed the high feed costs and poor profit margins are influencing cattle producers. The On-Feed number at 94% was less than the average trade estimate of 95.5%, Placements were down 1% when trade was looking for about a 4% increase and marketing’s at 98% was much better than the 93.1% trade estimate. This number should support the oversold cattle complex on today’s opening. Beef cutout values were lower on Friday with choice down .57 and select down .33. The feeder index was up .81 to 145.17. Pork cutout values were up .41 on Friday. Producers from all across the country attended the Allendale Ag Leaders Conference last Friday and Saturday. The speakers were energizing and factual. Call your Allendale Representative to get the Allendale price projections for 2013.
Markets as of 5:10 AM
  • Mar Corn    +4 1/4
  • Mar Beans   +5 3/4
  • Mar Wheat   +3 1/2
  • Feb Cattle  Steady-Higher
  • Feb Hogs    Steady-Higher
  • Mar Dlr     +.06
  • Mar S&P     +.50
  • Mar Crude   -.12
  • Feb Gold    -3.70
Contact Allendale: 800-262-7538

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