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ALLENDALE, INC.

4506 Prime Parkway, McHenry, Illinois

(September 26, 1997) WHEAT: WHEAT DEMAND LINE UP THINNING–Pakistan today bought 600k wheat, but only 200k of that was from the U.S. This was very disappointing to traders. Egypt has also passed on U.S. and is now seeking French wheat. Bullish traders are still hoping that the PRC will buy some U.S. wheat ahead of the U.S./PRC October meeting. But futures are getting weaker due to the heavily discounted cash wheat market, terminals jammed with inventory, corn and bean harvest causing more logistic problems and strong competition for the feed business. We sold futures at the market today. There is a confirmation of an 334 objective.

Bill Biedermann

Grain and Oilseeds Index
Soybeans
ALLENDALE, INC. | BRADFORD & CO. INC.
COMMODITY REVIEW AND OUTLOOK | COMMODITY RESOURCE CORPORATION
GLOBAL ASSET MANAGEMENT | ING DERIVATIVES CLEARING
LINNCO FUTURES GROUP | PRUDENTIAL SECURITIES, INC. | THE WINDY CITY TRADER
Wheat
ALLENDALE, INC. | BRADFORD & CO., INC. | COMMODITY REVIEW AND OUTLOOK
COMMODITY RESOURCE CORPORATION | GLOBAL ASSET MANAGEMENT
ING DERIVATIVES CLEARING | PRUDENTIAL SECURITIES, INC.
Corn
ALLENDALE, INC. | BRADFORD & CO., INC. | COMMODITY REVIEW AND OUTLOOK
COMMODITY RESOURCE CORPORATION | GLOBAL ASSET MANAGEMENT
ING DERIVATIVES CLEARING | PRUDENTIAL SECURITIES, INC.
THE HIGHTOWER REPORT
Consensus National Futures and Financial On Line Index

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