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 March Corn is currently trading at 428 ¼ which is 2 ¼ cents lower. The trading range has been 430 to 427 ½ so far. The market is trading edgy right now with price and supply concerns. Also light volume in the Holiday markets.
On the Energy front the February Crude Oil is currently trading at 9886 which is 18 points lower. The trading range has been 9894 to 9865 so far. The market is rallying on supply concerns with shortages coming in Europe and other places on the map. And light volume has only amplified this rally.
On the Natural Gas front the January contract is currently trading at 4.451 which is .009 points lower. The trading range has been 4.492 to 4.437 so far. We may see some profit taking and see a short term selloff after yesterday’s strong rally off of the Gas Storage withdrawal on the injection number.Certain weather experts are calling for for a colder winter that we have not seen in some time. This is just more bullish fundamental news that should propel prices higher in the coming months.
On the Ethanol front once again no trades in very quiet activity. We had 1 bid @ 1.890 and 1 offer @ 1.963 basis the January contract going off of a settlement price of 1.902.
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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