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
On the 1st day of Passover and a Full Moon and headlines of more geo-political events that could possibly take place as we move closer to Easter. For starters Secretary of State Rex Tillerson is meeting with G-7 ministers to talk sanctions on Syria and possibly Russia, Iran and any other country harboring or taking a willful blindness of the atrocities committed by these cowardly thugs. On the Asian-Pacific front China has moved 150,000 troops to the North Korean border to deal with refugees if Kim Jon Un does not blink and stand down like he should which also could lead to his extermination by Chinese troops. It is nice to know we have a new administration that did not attend the Neville Chamberlain School of foreign policy. These headlines have the market on edge, and today we have Crop Production USDA Supply/Demand at 11:00 A.M. and API Energy Stocks at 3:30 P.M.
On the Corn front the weather has slowed plantings and investors will be looking at demand numbers in today’s report. Funds are still short and any sort of rally could spark farmer selling. In the overnight electronic session the May Corn is currently trading at 366 ½ which is ½ of a cent lower. The trading range has been 367 ½ to 365 ¾.
On the Ethanol front there were no trades posted in the overnight electronic session. The May contract settled at 1.651 and is currently showing 4 bids @ 1.639 and 4 offers @ 1.669. The Open Interest is winding down to 2,968 contracts. This is a nervous market ahead of today’s crop and energy reports.
On the Crude Oil front the market is now weighing in on geo-political factors that could cause a disruption in the flow of Oil which could extend rallies going into the Easter weekend. There is not a lot of product with Gasoline and Distillates and Fracking won’t go back online and be a factor like a flick of the switch. Yesterdays close above $53 a barrel is a testament to that. In the overnight electronic session the May Crude Oil is currently trading at 5299 which is 9 cents lower. The trading range has been 5323 to 5283.
On the Natural Gas front the market opened steady to a tad higher in the overnight electronic session. The May contract is currently trading at 3.258 which is 2 cents higher. The trading range has been 3.268 to 3.237. It is the same old story with nuclear plants under maintenance and exports are at a continuous growing pace is the support we are seeing in this market for now. The question we may be asking shortly will the geo-political picture change how and where the U.S. is exporting.
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
- October Grain Option Expiration & Autumn Begins. The Corn and Ethanol Report 09/22/17
- Oil Market Balance in an Unbalanced World. The Energy Report 09/22/17
- Scorching-Hot Midwest Burns the Most Canadian Gas Since May
- Deliveries Notices – ICE Cotton
- Morning Grains 09/21/17
- Morning Softs 09/21/17
- Happy Rosh Hashana. The Corn & Ethanol Report 09/21/17
- Diesel Dilemma. The Energy Report 09/21/17