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 kick off this day with Spooks and Super Natural with Employment Cost Index at 7:30 A.M., Chicago PMI and Consumer Confidence at 9:00 A.M. and finally at 3:30 P.M. API Energy Stocks with the FOMC Meeting getting underway. Effective Tuesday October 31st the CME Group will reset price limits for Grains and Oil Seed futures which will start in the overnight electronic session and reflect the November 1st trading session. On the Corn front the December contract had a tight trading range with light Estimated Volume of 602 contracts so far in the overnight. We are currently trading at 348 ¼ which is a ½ of a cent lower. The trading range has been 348 ¾ to 348.
On the Ethanol front the November contract is set to expire Friday and has 23 Open positions to date. There were no trades posted in the overnight electronic session with the December settling at 1.418 and currently showing 1 bid @ 1.406 and 1 offer @ 1.418 with Open Interest at 1,250 contracts.
On the Crude Oil front it was quiet night here as well. In the overnight electronic session the December contract is currently trading at 5411 which is 4 points lower. The trading range has been 5428 to 5393. Tonight’s API inventories could start another rally.
On the Natural Gas front the changing weather forecasts to warmer temperatures about mid-week seems to squash any rally investors are looking to the future. In the overnight electronic session the December Natural Gas is currently trading at 2.936 which is 3 cents lower. The trading range has been3.005 to 2.931.
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