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
Free Markets for Free Men!
My fellow Americans, what happened to the publicly traded NASD exchange? No market makers to be found for three hours? I would believe anyone in the front office should have foreseen this possibility and have the human market makers keep the flow of free trade moving despite the electronic confusion. Three hours of trade halted because of a computer glitch? I know humans would be held accountable if a person could not exit or enter a position. I learned this lesson in the Crash of 1987. Just food for thought.
In the overnight electronic session the Grains are picking up steam after yesterday’s collapse. We are currently trading the December Corn at 468 ½ which is 4 cents higher as I write. The trading range has been 468 ½ to 463 ½ so far. Weather will continue impact this market and expect overreactions to the upside and downside as we try to gauge what yields the crop will produce.
On the Energy front the Crude Oil market seems to be congested not wanting to break out to the upside or downside given the current fundamental circumstances at play. In the overnight electronic session the October Crude oil is currently trading at 10501 which is 2 points higher as I write. The trading range has been 10543 to 10471. Most traders will not have the stomach and or risk tolerance to carry shorts in the weekend which may lead to lackluster trade or another Friday rally. Stay Tuned!
On the Ethanol front the only trade posted was in the October contract at 1.96 putting it up .002 in very quiet trade.
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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