Dan Flynn is the writer of The Corn & Ethanol Report, a daily market letter covering grains, energies, and various global issues that are the driving force and backbone of the commodity markets. Contact Mr. Flynn at (312) 264-4374
The Dan Flynn Corn & Ethanol Report
Thursday January 3rd 2013
As the novelty and jubilation wears off by dodging the fiscal cliff for now.
I see a correction looming for the stock market in our current spend and
write checks you can’t cash environment.
On the Corn Front the March contract is currently trading at 685 ½ which is 5 ¼ cents
lower in the overnight electronic session. The trading range has been 692 ½ to 685
so far. The market seems poised to test the next support levels that you can see in
the Phil Flynn Daily Entry Levels. Farmers smell demand destruction with decisions on
acreage and plantings looming.
On the Energy Front the market is somewhat of a mirror to the Stock Market showing
A wide range of inconsistencies and lack of confidence. In the overnight electronic session
the February Crude Oil is currently trading at 9272 which is 40 points lower as I write. The
trading range has been 9298 to 9249 so far. This market looks to be range bound as it digests
the so called cure for the fiscal cliff.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374
Futures and options trading involves substantial risk of loss and may not be suitable for everyone. The information presented is from sources believed to be reliable and all information is subject to change without notice.
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