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 beautiful Monday morning and we start of the day with reports of Construction Spending and ISM Manufacturing Index at 9:00 A.M., followed by Export Inspections at 10:00 A.M. with Cotton System, Fats & Oils and Grain crushing at 2:00 P.M. and weekly Crop Progress at 3:00 P.M. In the overnight electronic session the December Corn is currently trading at 353 ½ which is 1 ¾ of a cent lower. The trading range has been 356 ¼ to 353 1/4. Investors will be selling any rally as we saw in Friday’s bullish Grain Stocks and Small Grains Summary.
On the Ethanol front the November contract is currently trading 1.481 which is ½ of a cent lower. The trading range has been 1.481 to 1.476. Estimated Volume was 7 contracts traded and Open Interest at 1,157 contracts.
On the Crude Oil front algorithms and technicians are at it again pounding a technically overbought market but in reality this is a fundamentally cheap market in which we will see bottom feeders investors looking to buy value. In the overnight electronic session the November Crude Oil is currently trading at 5030 which is 137 points lower. The trading range has been 5171 to 5021.
On the Natural Gas front the market is getting beaten like the rest of the complex. In the overnight electronic session the November contract is currently trading at 2.927 which is 8 cents lower. The trading range has been 3.025 to 2.913.
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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