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
Thank God February is over and we look ahead to March Madness and dreams of spring with the plants a blooming especially the Grain Complex in this drought continuation. In the overnight electronic session the May Corn is currently trading at 702 which is 1 ½ cents lower as I write. The trading range has been 707 ½ to 700 so far. Again traders are looking at South American harvest and weather prospects weighing in on the current late moisture that has saturated the ground which could improve the crops chances going into our summer. Traders will me mulling late plantings and welcome moisture as it may delay plantings or overall be beneficial to the crop in the long run in this dry period. Planting on soil versus planting on concrete makes a world of difference.
On the Energy Front the April Crude Oil is currently trading at 9108 which is 98 points lower as I write in the overnight electronic session. The trading range has been 9197 to 9044 so far. The market looks heavy and may test support at the $89 level soon and if it achieves the objective it may try a new leg down.
Buckle up your chinstrap!
Free Markets for Free Men!
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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