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 morning we kickoff the day with Export Sales, Initial Jobless Claims and PPI at 7:30 A.M. EIA Gas Storage at 9:30 A.M., Crop Production USDA Supply/Demand at 11;00 A.M. Tropical Storm Franklin made landfall in the Yucatan Peninsula. Two other Disturbances are lurking one just over the Bahamas which is forecasted to bring heavy rains to the entire state of Florida and another Disturbance being watched in the Atlantic which is a couple hundred miles east-northeast of the Leeward Islands which could affect several commodity prices. On the Corn front there was very quiet trade in the overnight electronic session as investors brace for the Crop Production USDA Supply/Demand data. In the overnight electronic session the September Corn is currently trading at 372 ¼ which is unchanged. The trading range has been 373 to 371. A change in forecasted temperatures and rains is factoring in as well.
On the Ethanol front there were no trades posted in the overnight electronic session. The September contract settled at 1.591 and is currently showing 1 bid @ 1.584 and 1 offer @ 1.590 with Open Interest at 831 contracts.
On the Crude Oil front we have heavy draws, geo-political risks and Tropical Storms that could disrupt the flow of Oil in the Houston Shipping Channel causing larger draws. In the overnight electronic session the September Crude Oil is currently trading at 5008 which is 53 points higher. The trading range has been 5016 to 4949.
On the Natural Gas front the active hurricane season also has investors’ attention as well and with exports continuing to grow into 2018. In the overnight electronic session the September contract is currently trading at 2.908 which is 2 ½ cents higher. The trading range has been 2.914 to 2.872.
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
- Oil rallies, lifting Brent crude to a 2-year high
- Balanced sentiment drives oil prices higher
- Morning Grains. 09/25/17
- Morning Softs. 09/25/17
- Weather & Harvest Mount the Marketplace. The Corn & Ethanol Report 09/25/17
- Winter Worries! Heating Oil Prices Will Rise. The Energy Report 09/25/17
- MoneyShow Time! [PRICE Links Video]
- October Grain Option Expiration & Autumn Begins. The Corn and Ethanol Report 09/22/17