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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.

Week Ahead to Set Tone

Nov 05, 2012

Good Morning! Paul Georgy with early morning comments for November 5, 2012 at 5:10 am. Grains are mixed with corn and wheat higher and soybeans slightly lower. The week ahead is filled with events that could and likely will impact grain prices. This afternoon, the crop progress and conditions will be released. The winter wheat conditions last week started at only 40% Good/Excellent. Tuesday is election day in the US. Hope everyone intends to vote. Thursday we have export sales and Friday the USDA gives us the monthly crop production and Supply & Demand. Weather conditions in South America have improved this weekend. Northern Brazil has received rain and more is on the way. Southern Brazil and Argentina were dry this weekend and the forecast has pushed the next system out until late this week. The amount seems to be less than what was expected on Friday. The trade is looking for larger bean production on Friday’s report. Most analysts are expecting corn yield and production to shrink further. Technical support in corn at 7.32 will be very important while soybeans should see support around the 15.00 area. The Commitment of Traders report on Friday had managed funds reducing long positions in Ag commodities to the lowest levels since June. The Goldman roll will begin on Wednesday. Boxed beef values were lower on Friday with choice down .76 and select was down .76. Pork cutout values were down .10. Stay in touch with the Allendale Advisory to get latest impact and expectations of upcoming events.
Markets as of 5:10 AM
Dec Corn    +2 1/4
Jan Beans   -4 3/4
Dec Wheat   +4 3/4
Dec Cattle called Steady
Dec Hogs    called Steady
Dec Dlr     +.10
Dec S+P     +1.50
Dec Crude   +.14
Dec Gold    +3.60
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Allendale Advanced Charts
Dec Corn has continued its sideways range that it has been trapped in over the last month. We need to watch for a break below $7.32 or a break above $7.76 to assume the direction that Corn will take…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 monthly employment, released Friday, indicated 171,000 new jobs were added in October. That was up from the September level of 148,000. The trade was expecting 125,000. Unemployment was revised to 7.9% which was up from 7.8% in September.
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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