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
The cowardly terrorist Isis is at it again and this is just another factoid they should be driven to the inferno regions down below. Iran, Russia and Syria are warned the blood is on your hands, your fingerprints are all over the cowardly assault on the Egyptian Coptic churches where people come to pray only to get massacred at St. George church in Tanto and St Mark’s in Alexandria which proves your DNA is on the wrong side of Free Human behavior. As far as the midget in North Korea after talks with China President Xi Jinping your days are coming to abrupt end very shortly. It is time to go on the offensive with nemesis of peace.
On the Corn front we have Export Inspections at 10:00 A.M. and Crop Progress at 3:00 P.M. In the overnight electronic session the May Corn is currently trading at 360 ¾ which is 1 ¼ of a cent higher. The trading range has been 361 to 359. A drop in temperatures forecasted with rain mixed with hail this week will dampen plantings moving forward this week.
On the Ethanol front there were no trades posted in the overnight electronic session. The May contract settled at 1.629 and is currently showing 1 bid @ 1.633 and 2 offers @ 1.653 with Open Interest at 3,008 contracts. This morning’s strength is follow-through with higher Corn prices and a strong Energy complex.
On the Crude Oil front the market is digesting the geo-political drams around the globe in Africa, Middle East and the Asian-Pacific. In the overnight electronic session the May Crude Oil is currently trading at 5285 which is 61 points higher. The trading range has been 5299 to 5229.
On the Natural Gas front, after a week opening in the overnight electronic session the market sought new highs and is trading higher, however the market is moving back to the unchanged area. The May Natural Gas is currently trading at 3.271 which is 1 cent higher. The trading range has been 3.293 to 3.228. We should see a chop in prices in shoulder season with large exports and nuclear plants under maintenance preparing for the summer time months of air-conditioner use.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374
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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
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