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 will have a busy week ahead of us as always with the first week of the month. This morning we start with Construction Spending and ISM Manufacturing Index and 9:00 A.M. New York Fed president William Dudley and Richmond Fed president Jeffrey Lacker speaking today at different venues but may drop hints of Fed policy in the future. We will have plenty to chomp on all week before Friday’s Unemployment number.
The Grains seem to be trading higher with heavy rains postponing their plans of getting a good jumpstart on plantings. In the overnight electronic session the May Corn is currently trading at 367 ½ which is 3 ¼ cents higher. The trading range has been 367 ¾ to 365 ½.
On the Ethanol front there were there were no trades posted in the overnight electronic session. The May contract settled at 1.619 and is currently showing 2 bids @ 1.627 and 2 offers @ 1,650 with climbing Open Interest at 3,285 contracts.
On the Crude Oil front the market is coming in higher showing a little follow through from last week’s rally above $50 a barrel. In the overnight electronic session the May Crude Oil is currently trading at 5075 which is 15 points higher. The trading range has been 5083 to 5049.
On the Natural Gas front the market is trading higher again in the overnight electronic session but is pushing to new lows. The May contract is currently trading 321 which is 2 cents higher. The trading range has been 3.239 to 3.206.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374
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