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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.

Pre-Holiday Trade Volume In Grains

Nov 21, 2012

Good Morning! Paul Georgy with early morning comments for November 21, 2012 at 5:10 am. Grains futures are mixed in a light volume overnight session. Today we have regular trading hours at the CME for grains and livestock. Markets are closed tomorrow and will see limited trading hours on Friday. Open interest is still fairly large in the December corn 7.50 strikes. December grain options will stop trading on Friday at noon. New news for grains is very limited. Weather in South America is a little wetter for late next week. The forecast should give producers a chance to catch-up on planting. Weekly export sales will be released on Friday morning. Cash market basis is steady with farmer selling nonexistent. Ohio River basis was stronger on Tuesday while Illinois River was lower due to water levels on the Mississippi. Rich Nelson did a study on the day after Thanksgiving price movement in grains. Corn closed higher 4 out of last 6 years, wheat 5 out of last 6 years was higher and soybeans closed higher 3 out of last 6 years. The IMF has worked out a loan agreement with Egypt and it is likely Greece will get its next tranche of money by December 5. Cash cattle are expected to trade higher this week as packers put together numbers for next week. Choice beef was .11 higher and select was up .87 on Tuesday. Pork cutout values were down .36. Headlines out of Washington and EU will impact trader’s attitude until a decision is made on the "fiscal cliff." Allendale wishes all our readers and clients a safe and Happy Thanksgiving. Join us at the Allendale Ag Leaders Conference on Jan 25 and 26.
Markets as of 5:10 AM
Dec Corn    - 1/4
Jan Beans   +4 1/2
Dec Wheat   -1 1/2
Dec Cattle +.20
Dec Hogs    +.15
Dec Dlr     +.08
Dec S+P     -.50
Jan Crude   +.80
Dec Gold    +3.00
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Allendale Advanced Charts
Dec Live Cattle has confirmed a base and reversal after closing above $126.65. Due to the markets proximity to the bottom of the trading range, we can now confirm an uptrend in Dec Live Cattle and should not be surprised by its higher pricing going forward…Frank La Placa
Get technical analysis for corn, beans, wheat, cattle, hogs, crude and dollar markets.
Nelson Notes from the desk of Rich Nelson
Asian grain buyers are turning their focus to the US market. Japan, Taiwan, and others have more than 1.5 million tonnes of ordered Brazilian corn that has not been delayed due to port congestion.
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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