Prepared by Allendale, Inc.

Grains started the week lower on good prospects for harvest activity. Commercials who hold a major short position in corn, bought thousands of calls Monday to balance their risk of a short position. Funds and traders also bought futures when forecasters said frost and heavy rains could hit the corn belt late week. But the rally failed as more and more sellers enter orders at resistance on news that yields are better than expected. Even strong export sales Thursday failed to help the market. Allendale made recommendations to sell more grains and beans, as well as enter into two good spreads. We also suggested purchasing puts and selling calls. By Friday, forecasters had backed off on the rains and eliminated the frost. Ideal weather prospects and continued reports of good yields pressured the markets into the close. For the week, December corn closed down 4.25 cents, November beans closed down 7.25 cents and December wheat down 10.25 cents.

September 26, 1997Allendale, Inc.

4506 Prime Parkway, McHenry, Illinois

Consensus National Futures and Financial On Line Index | Financial Commentary Index

THE ALLENDALE ADVISORY REPORT
ASTRO-TREND | EL NINO AT CENTER | THE SPECULATOR
COMMODITY FUTURES FORCAST WEEKLY REPORT
DEAN WITTER FUTURES COMMENTARY
FRIEDBERG'S COMMODITY AND CURRENCY COMMENTS
FED STEER PRICES STEADY AT $66 | THE OPTION ADVISOR
ONE CAUTIOUS, YET BULLISH WAY TO BE POSITIONED
MYERS ON FUTURES | NIKKO MARKET COMMENTS
GLOBALIZATION AND M3 - WITH CRITICS LIKE THIS
INTEREST RATE WATCH | CURRENCIES | TECHNICAL DATA MARKET COMMENTS
THE BOND THEN AND NOW
EXPLOSIVE GROWTH OF JAPANESE “REPO MARKET” CONTINUES, BUT...
SOUTH AFRICA: RESERVE BANK IN CONTROL | THE TODD MARKET TIMER
THE REAPER MARKET COMMENTS | WEEKLY OUTLOOK | THE YAMAMOTO FORECAST

Copyright 1997, by Consensus Inc.  All American and Pan American rights Reserved. editor@consensus-inc.com

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