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
We are pulling back from recent gains just a tad. In the overnight electronic session the December Corn is currently trading at 487 ¾ which is 2 ¾ cents lower. The trading range has been 504 ¼ to 495 ¼ so far. There are Heat Advisories and Excessive Heat Warnings across the Mid-West with rains forecasted may bring little relief to the crops as temperatures and rains this growing season go from one extreme to another. Stay Tuned!
On the Energy front with the Syria crisis it looks like fear is at the forefront again. In the overnight electronic session the October Crude Oil is currently trading at 10735 which are 143 points higher. The trading range has been 10746 to 10588. The market is inching very close to the double-top and words from China and Russia the imminent military strike on Syria could have the market blow through the double top and as the region could be more tumultuous than it already is.
On the Natural Gas front prices eased in the overnight with the September contract currently trading at 3.480 which is .033 lower. The trading range has been 3.520 to 3.475 so far. I still believe the long side of the market is where to be long term.
On the Ethanol front September contract posted a trade at 2.503 which is .005 lower while the October contract is currently trading at 2.104 which is .003 higher. The trading range has been 2.135 to 2.104 so far in light 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.
SubscribeSign up to receive a daily summary of all PRICE | Market Insights blog posts