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
Tuesday March 26th 1013
In the overnight electronic session the Corn eased off yesterday’s gains trading at 732 which is 1 ¼ of a cent lower as I write. The trading range has been 732 ¾ to 730 ¼ so far. We have Prospective Plantings report on Thursday at 11 A.M. This may sway certain traders to square up and not carry a heavy position going into the report.
On Energy Front refinery issues, winter here and in Europe and the changing over to summer blends have spurred the bulls back to town. In the overnight electronic session the May crude Oil is currently trading at 9530 which is 49 points higher as I write. The trading range has been 9558 to 9467 so far. I still believe we are a tad overdone on the upside however, I do not want to step in front of a runaway freight train. On the Ethanol Front no trade on the spot months. However the July contract traded with a last trade of 2.443 which is .012 higher as I write. The trading range has been 2.460 to 2.443 so far.
There must be a good reason for the July contract to trade and no interest in April, May and the June contract. Could it be pricing in drought conditions? Stay Tuned!
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