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
We have Exxon earnings that could boost a slumping Energy sector this morning and we have GDP released at 7:30 A.M. We also have November Grain Option Expiration today which could throw a slider or squeeze play close to the market session close. In the overnight electronic session the December Corn is currently trading at 349 ½ which is 1 cent lower. The trading range has been 350 ½ to 349 ¼. We could see some shake, rattle and roll today.
On the Ethanol front the December contract posted a trade at 1.410 which is .012 cent lower. The market is currently showing 1 bid @ 1.411 and 1 offer @ 1.417 with Open Interest at 1,192 contracts.
On the Crude Oil front the market needs a close above $53 a barrel to break out of this home on the range. The Stock Market is helping but the higher U.S. dollar is not. Exxon earnings could be a game changer as well. In the overnight electronic session the December Crude Oil is currently trading at 5250 which is 14 points lower. The trading range has been 5282 to 5244. Remember we also have Baker Hughes Rig Counts at High Noon.
On the Natural Gas front the market is taking a beating in the early going. With cold temperatures approaching it kinds a make investors wonder if this is the last hurrah. In the overnight electronic session the December Natural Gas is currently trading at 2.961 which is 9 cents lower. The trading range has been 3.054 to 2.959. Rig Counts could throw a change-up in this market as well.
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
- Keystone XL clears Nebraska hurdle
- Oil eases as traders; investors grow edgy ahead of OPEC
- Morning Grains 11/20/17
- Deliveries Reminder – Crude/Coffee/Cotton/CGBs/Metals/Nat Gas
- Morning Softs 11/20/17
- Grains Fail to Follow-Through. The Corn & Ethanol Report 11/20/17
- Oil Up Cycle. The Energy Report 11/20/17
- Energies / Coffee /Cotton / CGBs /Metals 11/17/17