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
Just as we have seen in the Good Ol’ USA the minions are tired overtaxed and growing to zero tolerance of being bullied by a certain so-called elite in government. In November the people had spoken and now we are on a new path that will not accept bullying and globalism that certain factions force at any means at their disposal whether it is legal or illegal, moral or unmoral and it is a time people are coming to the realization that those members of society are the Deplorables. France votes and the markets will most likely be on edge putting fear in market participation with Free Markets for Free Men riding on the outcome.
On the Corn front the market is not buying into the weather that is delaying plantings. With record crops in South America and expected record crops this growing season in the U.S. regardless of acreage cuts. Either way you look at the picture rallies will be sold in the futures market. In the overnight electronic session the May Corn is currently trading at 357 ½ which is ¼ of a cent lower. The trading range has been 358 ¼ to 356 ¾.
On the Ethanol front another quiet session in the overnight with no trades posted. The May contract settled at 1.620 and is currently showing 2 bids @ 1.611 and 2 offers @ 1.635 with Open Interest down to 891 contracts. Next week we will shift our focus to the June contract which has a growing Open Interest at 2,504 contracts.
On the Crude Oil front the market is still reeling from the technical washout on Wednesday after mostly friendly inventory data, light volume that had small participants the market got slammed after buyers seemed to be on the side. This could be bullish sign after the market sold off heavy with no fundamental rhyme or reason. In the overnight electronic session the June Crude Oil is currently trading at 5062 which is 9 points lower. The trading range has been 5086 to 5051.
On the Natural Gas front the market is bouncing back from the selloff and bearish sentiment in this shoulder season In the overnight electronic session the May contract is currently trading at 3.164 which is a ½ of a cent higher. The trading range has been 3.185 to 3.157.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374
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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
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