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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.
 

USDA Report Release at 7:30

Dec 11, 2012

USDA Report Release at 7:30
Good Morning! Paul Georgy with early morning comments for December 11, 2012 at 4:45 am. Grain futures are mixed with corn lower and soybeans slightly higher. The grain trading floor opens at 7:20 today and the USDA report will be released at 7:30. Starting in January, the USDA reports will be released at 11:00 am central time. Adjustments are expected to be made by increasing ending stocks in corn and wheat due to poor export demand. Soybeans are expected to have ending stocks reduced because of aggressive purchases from China. We are not expecting major adjustments as USDA typically waits until the January report. Subscribe today to the Allendale Advisory Report to get the full story. Corn export demand is extremely slow to almost non-existent due to price. Currently, US corn is running $.89 to $1.04 above South American values. Mississippi River water level is fluctuating at -1.5 to -2.0 feet. It is expected the river would be shut down for barge traffic if it falls to -5.0. Today we will have to watch for market reactions to the USDA report. Headlines coming out of Washington should be watched closely for direction. Cattle showlists should be larger again this week as numbers will be carried over from last week. Packer margins are still deep in the red. Meat prices will likely struggle as we go into the Christmas Holiday and end of year. Boxed beef on Monday was firmer with choice up 1.10 and select up .54. Pork cutout values were down .59. 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 4:45 AM
Mar Corn    -4 1/2
Jan Beans   +4 3/4
Mar Wheat   -6 1/2
Feb Cattle -.15
Feb Hogs    -.17
Mar Dlr     -.12
Mar S&P     +3.00
Jan Crude   +.49
Feb Gold    -3.50

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