Daniel Flynn
About The Author

Daniel Flynn

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

Yesterday we had very quiet trade in most of the commodity sectors as the Stock Market crept to another record high close. As China celebrated Mid-Autumn Festival we kick-start the day with ISM Non-Manufacturing Index at 9:00 A.M., EIA Energy Stocks at 9:30 A.M. and Dairy Product Sales at 2:00 P.M. As most investors slept through yesterday’s activity or more like non-activity we may see weather playing a larger role while farmers are rolling in harvest and rains in the forecast and early winter taunt us with snows in Colorado and Montana pushing across the Plains and may target the Mid-West. In the overnight electronic session the December Corn is currently trading at 348 ½ which is 1 cent lower. The trading range has been 349 ½ to 348 ¼.

On the Ethanol front there were no trades posted in the overnight electronic session. The November contract settled at 1.452 and is currently showing 3 bids @ 1.443 and 1 offer @ 1.454 with Open Interest at 1,155 contracts.

On the Crude Oil front last night’s API Energy Stocks showed Crude Oil stocks down 4.079 million barrels while Cushing, Oklahoma showed builds of 2.084 million barrels, Gasoline Stocks up 4.19 million barrels and Distillates down 584 thousand barrels. This market seems to be treading water as we wait for this morning’s EIA Energy Stocks which could paint a picture of larger draws. In the overnight electronic session the November Crude Oil is currently trading at 5029 which is 13 points lower. The trading range has been 5034 to 4991.

On the Natural Gas front the November contract is currently trading at 2.910 which is 1 ½ of a cent higher. The trading range has been 2.924 to 2.898. While in shoulder season we could experience a weather market shortly that will boost demand while producer’s are producing less at these price levels and could ignite a rally.

Have a Great Trading Day!
Dan Flynn
Questions? Ask Dan Flynn today at 312-264-4374

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