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
It is if that they just can’t seem to light a fire. Any type of bullish news investors think of buying value is met with stiff resistance. Investors concerned with yields or lack thereof are reminded that the carryover from last year is ruling the bearish overtones and defeating the bulls. In the overnight electronic session the September Corn is currently trading at 349 which are 3 cents lower. The trading range has been 350 ¾ to 348 ½.
On the Ethanol front there were no trades posted in the overnight electronic session. As the September contract moves closer to expiration and Open Interest down to 252 contracts we will move our focus to the October contract which settled at 1.486 and is currently showing 1 bid @ 1.480 and 1 offer @ 1.521 with Open Interest at 827 contracts.
On the Crude Oil front we have three Tropical Storms to deal with waiting to see where landfall will be and keeping investors on their toes judging where they will hit. Remnants of Tropical Storm Harvey could make landfall from Nicaragua, Belize, Honduras and the Yucatan Peninsula. Harvey could reform and change paths and hit Brownsville, Texas. Further disrupting shipping lanes. The September contract expires tomorrow so the shift is to the October contract which is currently trading at 4852 which is 14 points lower in the overnight electronic session. The trading range has been 4891 to 4844. All eyes will be on the eclipse and Storm activity near the Gulf of Mexico.
On the Natural Gas front it is the same old story as the Crude Oil as investors monitor the path of the Tropical Storms that threaten Refinery Row and all but certain disrupt shipping lanes and maybe refineries. In the overnight electronic session the September Natural Gas is currently trading at 2.883 which is 1 cent lower. The trading range has been 2.943 to 2.877.
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
- The Next Fed Chair? Danielle Mishler! [PRICE Links Video]
- The Windy City Trader. 10/17/17
- Morning Grains Report 10/17/17
- Morning Softs Report 10/17/17
- Dow Flirts but Misses 23k Mark. The Corn & Ethanol Report 10/17/17
- Oil, Tensions and Demand on the Rise. The Energy Report 10/17/17
- Morning Grains Report 10/16/17
- Morning Softs Report 10/16/17