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
This morning starting at 7:30 A.M. we have the U.S. Trade Balance, Factory Orders at 9:00 A.M. and at 3:30 P.M. the weekly API Energy Stocks. Yesterday’s protracted number of reports with mixed signals had investors keeping their cards close to their vest. And the news of another terrorist attack this time in a St. Petersburg subway in Russia only to unsettle the marketplace further and prove we should be united in destroying these cowardly bastards by the bushel and wipe them off the face of the earth.
On the Corn front the Grain complex is up early because of the heavy rains and flooding which is slowing the start of plantings. Soybeans are higher in the overnight electronic session and I am asking myself where is a good selling point. The May Corn is currently trading at 368 ½ which is ¾ of a cent higher. The trading range has been 369 ¼ to 366 ¾. Three keys to this early bull run are exports, plantings and weather.
On the Ethanol front the April contract unwinds to expiration tomorrow April 5th and there were no trades posted in the overnight electronic session. The May contract settled at 1.640 and is currently showing 3 bids @ 1.624 and 1 offer @ 1.639. Corn & Energy prices in this shoulder season may strike a rally regardless of Environmental Protection Agency (EPA) and Renewable Fuel Standards (RFS) fears.
On the Crude Oil front the higher U.S. dollar and pressure on the stock market led to the selloff. In the overnight electronic session the contract traded below $50 a barrel. The market has turned around
And is currently trading at 5055 which is 31 points higher. The trading range has been 5064 to 4988 and is looking bullish with signals pointed to bullish inventories in the weekly API Energy Stocks at 3:30 P.M.
On the Natural Gas front there is no real news to drive the market at this point. The May contract is currently trading at 3.148 which is 2 cents higher. The trading range has been 3.162 to 3.121.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374
A Subsidiary of Price Holdings, Inc. – an Employee Owned Diversified Financial Services Firm. Member NIBA, NFA
Past results are not necessarily indicative of future results. Investing in futures can involve substantial risk of loss & is not suitable for everyone. Trading foreign exchange also involves a high degree of risk. The leverage created by trading on margin can work against you as well as for you, and losses can exceed your entire investment. Before opening an account and trading, you should seek advice from your advisors as appropriate to ensure that you understand the risks and can withstand the losses.
The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or futures. The Price Futures Group, its officers, directors, employees, and brokers may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. Reproduction and/or distribution of any portion of this report are strictly prohibited without the written permission of the author. Trading in futures contracts, options on futures contracts, and forward contracts is not suitable for all investors and involves substantial risks. ©2017
SubscribeReceive daily summaries of all Market Insights blog posts.
Enter email below.
Most Recent Posts
- Morning Grains. 05/26/17
- Morning Softs. 05/26/17
- Happy Memorial Day! The Corn & Ethanol Report 05/26/17
- Build Me Up. The Energy Report 05/26/17
- Morning Grains. 05/25/17
- Morning Softs. 05/25/17
- Oil prices lower as OPEC reviews extending production cut deal
- Market Doldrums. The Corn & Ethanol Report 05/25/17