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
A lot of perceived drama over the weekend that only put a red-face on Kim Jong-un and his threats. The market retreated early in the overnight but is creeping higher as more bulls will get on board.
On the Corn front the market is in a tight trading range and the glorious weather we experienced over the Easter weekend is as fickle as spring with severe thunderstorms are on the horizon which will affect plantings. The market is keying in on what we put in the ground and South America’s record crop. In the overnight electronic session the May Corn is currently trading at 370 which is 1 cent lower. The trading range has been 372 to 369 ¾.
On the Ethanol front we are starting to see rollovers from the May to the June contract. The May contract is currently trading at 1.667 which is .004 of a cent lower. The trading range has been 1.671 to 1.667. The May Open Interest is continuing to slide at 2.242 contracts while the June Open Interest is rising to 1,328 contracts.
On the Crude Oil front the talk of oversupply is overrated as we head into and change different blends of Gasoline in the summertime season. The talk of oversupply and shale producers impacting this market in the short term is not going to be a reality. Also OPEC continues their commitment to cur production that could lead to $60 a barrel of Crude. Even with shale producers confident they can make money at these levels they also have to get the infrastructure and maintenance in place before they are on all cylinders like before the Saudi’s flooded the market to drive them out of business. In the overnight electronic session the May Crude Oil is currently trading 5310 which is 8 points lower. The trading range has been 5317 to 5263.
On the Natural Gas front the market continues to sell-off any rallies regardless of record exports, we have plenty of supply unless we get a weather scare with hot weather that will get the air-conditioners working overtime as the Coal Industry catches up to the new administrations friendly Energy policy. In the overnight electronic session the May contract is currently trading at 3.177 which is 5 cents lower. The trading range has been 3.249 to 3.170.
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
- CME Margin Changes Effective Today
- Morning Grains 07/26/17
- Morning Softs 07/26/17
- Give me those Old Time Fundamentals. The Energy Report 07/26/17
- Busy Day Ahead. The Corn & Ethanol Report 07/26/17
- Here’s why oil just scored its biggest one-day rally of 2017
- The Windy City Trader 7/25/17
- Morning Grains 07/25/17