Sep 21, 2014
Home| Tools| Events| Blogs| Discussions| Sign UpLogin

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 Start Month Higher

Dec 03, 2012

Good Morning! Paul Georgy with early morning comments for December 3, 2012 at 5:10 am. Grains futures are higher on early month risk-on buying. Egypt bought a total of 400,000 tonnes of wheat: 280,000 from US and the balance from Romania and France. Argentina farmers had a good week of planting progress. Their government said through last Thursday soybean plantings jumped by 11% to 58% complete. Corn farmers only planted 4% to reach 63% complete. Weather was good for fieldwork over the weekend in Argentina but the weather forecast is for heavy rains to move in midweek. The US low water problems on Midwest rivers had basis rising for corn and soybeans on Friday. The higher export prices in US are driving buyers to South America. However, shipments are now running about a 2 month delay out of South American ports. News talk shows over the weekend had something for everyone on the fiscal cliff negotiation and what effects a non-resolution would have on the economy. Corn Deliveries against the December contract were 246 with the last date 9/17/12.  Goldman roll will start later this week. Cash cattle traded 125 in Kansas on Friday which was 3.00 lower. Choice beef was down 1.00 and select was down .70. Pork cutout values were up .59 on Friday. We are expecting outside follow-through from last week on the opening. Cattle called steady lower, Lean Hogs mixed. 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 5:10 AM
Dec Corn    +7
Jan Beans   +16
Dec Wheat   +9 1/2
Dec Cattle Steady-Lower
Dec Hogs    Steady-Mixed
Dec Dlr     -.19
Dec S+P     +2.25
Jan Crude   -.05
Dec Gold    +8.00
Allendale Advanced Charts
Mar Corn has retreated from its recent test of the $7.75 level. I feel that $7.75 is the key directional trigger to maintain any type of bias. As long as the Corn is lower than $7.75, it can leave open the possibility for a retest of our recent lows…Frank La Placa
Nelson Notes from the desk of Rich Nelson
China: The National Bureau of Statistics estimates this fall’s corn harvest totaled 208.1 million tonnes. This is quite a bit larger than USDA’s latest estimate of 200.0. They estimated 2012 wheat production at 120.6 million tonnes, higher than USDA’s 118.0.
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.

Log In or Sign Up to comment


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

Receive the latest news, information and commentary customized for you. Sign up to receive Dairy Today's eUpdate today!

The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by|Site Map|Privacy Policy|Terms & Conditions