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 week we will see cooler temperatures and more rain. Wednesday is pegged to be hot and dry while the rest of the week will milder temperatures and rain. In the overnight electronic session the July Corn is currently trading at 380 ¼ which 3 ¾ cents lower. The trading range has been 380 ¾ to 375 ¼. The Corn market is lagging behind the rest of the Grain markets that are trading in a flurry. This could be a sign of a summertime Grain market after all.
On the Ethanol front the July contract is currently trading at 1.570 which is 1 tic lower. The trading range has been 1.570 to 1.567 with Open Interest at 727 contracts. Now we move to rollovers with the August contract has 955 in Open Interest surpassing the July contract as it closes in on expiration. The August contract posted a trade at 1.575 which is unchanged.
On the Crude Oil front the July contract expires tomorrow so think August and roll your July contracts today. In the overnight electronic session the August contract is currently trading at 4505 which is 8 points higher. The trading range has been 4528 to 4468. This market is oversold and no in balance and we will pay the price at the pump when frackers and independents go out of business with the market at least $15.00 out of balance to create any revenue.
On the Natural Gas front cooler temperatures forecasted had the bears knocking on the door. While talking weather forecasts we have been told of a busier than usual hurricane season and there is a tropical storm headed to the Gulf of Mexico which could spiral prices to the upside. The market is currently folding in their tents with the July contract currently trading at 2.897 which is 14 cents lower. The trading range has been 2.971 to 2.884. After we weather the storm we should have higher temperatures and we surmise damage control in refinery row in the Houston Shipping Channel.
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 Report 10/23/17
- Morning Softs Report 10/23/17
- No Where to Run to. The Corn & Ethanol Report 10/23/17
- Slowdown in Shale. The Energy Report 10/23/17
- Morning Grains Report 10/20/17
- Morning Softs Report 10/20/17
- Corn Growers Look Ahead to Future. The Corn & Ethanol Report 10/20/17
- China’s Minsky Moment. The Energy Report 10/20/17