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
In the overnight electronic session the July Corn is currently trading at 636 ¼ which is ¼ of a cent lower as I write. Better weather than anticipated had the farmers head to the fields in certain areas which led to the profit taking selloff in Monday’s trading session. The trading range in the July contract has been 642 ½ to 635 ¼ so far. It all boils down to the same old song in this stage of the game and that is the weather factor and how plantings are going. Stay Tuned!
On the Energy Front the June Crude Oil is currently trading at 9584 which is 32 points lower at this writing. The trading range has been 9597 to 9526 so far. Later today we have the API Inventory data to be released followed up by the EIA Inventory data tomorrow morning. The June Ethanol is currently trading at 2520 which is .001 points lower as I write. The trading range has been 2521 to 2520 so far. Natural Gas continues its correction mode, however, I remain long-term bullish.
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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