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
The grains may have finally reacted and bounced the way farmers were anticipating with growing concerns that weather we will experience with this crop all year long. In the overnight electronic session the May Corn is currently trading at 644 which is 4 ½ cents higher at this writing. The trading range has been 645 ¾ to 638 ½ so far. Weather and all fundamentals are telling me it is high time for the bulls to dust off their hoofs and get in the game. Stay Tuned!
On the Energy Front the June Crude Oil is currently trading at 9170 which is 27 points higher at this writing. The trading range has been 9198 to 9125 so far. I was surprised in the strength in Crude Oil with a not overly bullish number on the EIA number while Gasoline storage was bullish even as we have plenty of product going into the summer driving season. There is a lot of product on that this rally is only psychological and may very well be temporary with supply is keeping up with demand. On the Natural Gas front we have the EIA weekly inventory numbers due out at 9:30 CST which could set off further fireworks in this raging bull market.
And on the Ethanol front there were no trades posted last night but expect bids to come in higher.
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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