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The Allendale Wake-Up Call

RSS By: Paul Georgy, AgWeb.com

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.
 

Traders Make Last Minute Adjustments

May 10, 2013

Good Morning! Paul Georgy with early morning comments for May 10, 2013 at 5:00 am. Grain futures are lower on profit taking in a quiet overnight session. The focus and concern of grain traders this morning is what the USDA Supply and Demand Report will have to say at 11:00. Get initial reactions from our free text update. We expect there will be something for everyone. Of course, everyone is waiting for the USDA’s first balance sheet of the year for 2013/14 corn and soybeans. This number could impact the world ending stock for corn and soybeans as well. Old crop usage is another number which will be closely watched. Will they increase corn for ethanol or lower export shipments? Wheat is very important on this report, especially new crop. How much of an adjustment will they make for freeze damage in HRW and losses due to flooding in the SRW? Contact your Allendale representative to get immediate reactions after the report has been released, 800-262-7538. Other news: Australian wheat planting conditions improve due to some well needed moisture in the eastern region. Funds bought a net 12,000 corn contracts yesterday and 6,000 each of wheat and soybeans. Cash cattle trade on Thursday was at a standstill. Feedlots were asking for more money after the beef posted new all-time highs on Wednesday. This was followed by another record high yesterday. Choice was up .82 and select was up .40. The feeder index was 134.97 on Thursday. Pork cutout values were up 1.45. A pick up in meat values should have a positive influence on cash livestock. Retailers are stocking their coolers for Memorial Day. Don’t hesitate to call the main office or one of our 17 branch offices with questions about the report or market strategies. Rich Nelson will be recapping the data on a Special YouTube Presentation which should be posted around 12:15. You can get the full story on this and more by subscribing to the Allendale Advisory Report during our annual Planter’s Special.

Markets as of 5:00 AM

  • Jul Corn    -3 1/4
  • Jul Beans   +5
  • Jul Wheat   -6 1/2
  • Jun Cattle  -.37
  • Jun Hogs    -.02
  • Jun Dlr     +.16
  • Jun S&P     +3.00
  • Jun Crude   -.66
  • Jun Gold    -20.00

 

View the Chart of the Day

Contact Allendale: 800-262-7538 service@allendale-inc.com www.allendale-inc.com

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