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
Today is the day of reckoning!
First Notice Day on July Grains and Metals. And at 11:00 A.M. C.S.T. Planted Acreage and Grain Stocks will be released. Buckle up your chinstrap! In the overnight electronic session the September Corn is currently trading at 572 ¾ which is up a ½ of a cent. The trading range has been 573 to 570 ½ so far. The Grain Stock data should give this market its next direction. On the Energy Front the August Crude Oil is currently trading at 9717 which is 12 points higher as I write in the overnight electronic session. The trading range has been 9782 to 9655 so far. Beyond the sleight of hand, refinery issues and weather influences this market should trade lower. On the Natural Gas Front we have seen a bottom off of yesterday’s bearish report with the August contract currently trading at 3.607 which is up .025 as I write.
The trading range has been 3.618 to 3.577. Long term I still remain extremely bullish. On the Ethanol Front the August contract posted a trade at 2.328 which is down .019 so far. Will the bullish craze stop on this market or slow down? One thing is for sure that today’s Crop Report will be a big influence of any changing in the winds.
Have a Great Trading Day!
The PRICE Futures Group
Questions? Ask Dan Flynn today at 312-264-4374
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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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