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
Happy New Year!
There was not much activity in the Corn market action last night. The September contract posted a trade at 443 ½ which is 1 ¼ of a cent lower. The trading range has been 444 ¾ to 442 ¾. Other contract months in Corn market were rather dead. Corn traders must have been reveling in 2014 last night as well.
On the Energy front the February Crude Oil is currently trading at 9773 which is 69 points lower. The trading range has been 9897 to 9754 so far. Tomorrow we will have weekly inventories a day late due to the holiday. The data should show we have plenty of supply.
On the Natural Gas front the February contract is currently trading at 4.284 which is up .054 points. The trading range has been 4.289 to 4.213 so far. The New Year’s Eve selloff have been probably overdone and we could see a spike in today and tomorrow’s action with cold temperatures blanketing us once again and traders fears of tight supply due to weather and exports. Stay Tuned!
On the Ethanol front this market was a yawner too. With no conclusive direction given from the Corn market, this market hibernated as well.
Have a Great Trading Day! And Prosperous New Year!
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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