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 24th 2013
Early in the open outcry session the market seemed to be in a congested mode
until independent weather forecasters there is enough rain as the planting season
begins. This help the profit takers to write sell orders and the trade went lower on
light volume. In the overnight electronic session the March Corn is currently trading at
716 which is 4 ¾ cents lower. The trading range has been 721 to 715 ¼ so far. I still believe
This is still creating a golden buying opportunity. Depending how you read the tea leaves
both fundamentally and technically is showing me this market is poised to trade higher.
On the Energy Front the API stats showed a build of 3.2 million barrels on Crude while
Gas and Distillates were down 1.6 and 1.3 million barrels respectively. News overseas
May be the next headline to keep prices higher. In the overnight electronic session the
March Crude Oil is currently trading at 9576 which is 53 points higher at this writing. The
trading range has been 9587 to 9512 so far. Let’s gear up for the release of the Department
of Energy data that may be a new headline to drive the market.
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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