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 December Corn is currently trading at 478 ¼ which is 2 ¾ cents lower. The trading range has been 478 ¾ to 473 ½ so far. The Blue Moon must of captivated stargazers as this rare event is what we are currently experiencing in a Grain market moving into the harvest season. Prices are trading higher in this Green Corn Moon or Grain Moon. Stay Tuned!
On the Energy front the API data was not as bullish as the street anticipated and supplies were plentiful as the September contract expired. This is showing supply is dominating the market for now as opposed to terror premium in the Middle-East, at this stage of the game. The October contract is currently trading at 10448 which is 63 points lower at this writing. The trading range has been 10525 to 10435 so far. Let’s see if the EIA data says… Hopefully it will mean lower lows. Stay Tuned!
On the Natural Gas front the September contract is currently trading at 3.469 which is .025 higher at this writing. The trading range has been 3.492 to 3.388 so far. It looks like shorts continue to reduce their positions. Stay Tuned!
On the Ethanol front there were no trades posted in last nights action with bids on the September contract coming in at 2.270 and offers at 2.270 going off a settlement price of 2.249.
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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