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
Friday March 22nd 2013
The Corns late rally in yesterday’s open outcry session came up a little short to grab any more legs to the upside short term. Long term I still remain wildly bullish. In the overnight electronic session the May Corn is currently trading at 727 ¾ which is trading on the current low as I write putting it down 5 ¼ cents. The trading range has been 733 to 727 ¾ so far. Profit taking in Soybeans from yesterday’s run-up is helping to tip the balance to the downside for now. I still remain overall bullish.
On the Energy Front we are mostly trading range-bound in in the $94 to $89-$88 range. Not really to many significant stories to drive this market other than news from Cypress and the E.U. as every market has some sort of vested interest in the outcome. In the overnight electronic session the May Crude Oil is currently trading at 9286 which is 41 points higher as I write. The trading range has been 9308 to 9233 so far. I believe this market should see a sell-off even though we could see a chop at these levels. All eyes will be following the Euro-Zone. Stay Tuned to the latest breaking news that will impact your account.
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.
SubscribeSign up to receive a daily summary of all PRICE | Market Insights blog posts
Most Recent Posts
- Gasoline prices back on the upward track in California
- Bitter Coffee with Jack Scoville [PRICE Links Video Series]
- The Nemenoff Report 12/06/13
- The Corn & Ethanol Report 12/06/13
- Morning Grains 12/06/13
- Morning Softs 12/06/13
- The Energy Report 12/16/13
- Fear or No Fear with Todd Horwitz [PRICE Links Video Series]