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 March 14th 2013
Yesterday’s big break to the downside in the Corn and Soybeans caught this trader flatfooted. Was it more than profit taking from recent rallies? Could be! I still won’t relinquish my bullish stance. In the overnight electronic session the May Corn is currently trading at 710 which is a ¼ of a cent lower as I write. The trading range has been 713 ¼ to 708 ¼ so far. Let’s see if the market holds psychological support at $7 and heads back up. Stay Tuned! Buckle up your chinstrap!
On the Energy Front the April Crude Oil is currently at 9129 which is 23 points lower as I write. The trading range has been 9302 to 9201 so far. I am still anticipating a chop in a selloff as we move forward. On the Ethanol Market the April contract posted a trade at 2.595 which is 0.012 points higher. Not much else to say as this Corn and Sugar based contract prices in what the interest in Sugar and Corn and trades in tandem with what those markets do.
Have a Great Trading Day!
The PRICE Futures Group
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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