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
Weather has not been conducive to this harvest lately but we should have a good week to get the farmers back in the field. In the overnight electronic session the December Corn is currently trading at 348 ¾ which is unchanged. The trading range has been 349 ¾ to 348 ¼. This market is looking to be forming a long-term bottom with China’s appetite for Ethanol which should lead back to supply and demand and should lower global stockpiles.
On the Ethanol front the December contract is currently trading at 1.415 which is .008 of a cent higher. The trading range has been 1.420 to 1.415 and the Open Interest is at 1,270 contracts.
On the Crude Oil front the market is looking to continue a break out to the upside from this current trading range and not being hindered by a lower Stock Market and higher U.S. dollar. In the overnight electronic session the December Crude Oil is currently trading at 5407 which is 17 points higher. The trading range has been 5418 to 5375.
On the Natural Gas front the December contract is currently trading at 2.996 which are 2 tics higher. The trading range has been 2.983 to 2.936. Investors in this market are following the La Nina weather patterns in this shoulder season.
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