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

 
 

 Happy first Friday of the month which means we start of the day with the Unemployment number at 7:30 A.M., U.S. Trade Balance at the same time, Factory and ISM Non-Manufacturing Index at 9:00 A.M. President Trump nominated Jerome Powell as the new Fed Chairman and investors are pondering whether he will be dovish or hawkish. His track record has shown he mostly voted along with Janet Yellen which should calm the fears of traders. Meanwhile, Donna Brazile through Hillary and the DNC under the bus. Corruption with the Clinton’s and Democratic Party, who would have thunk?

In the overnight electronic session the December Corn is currently trading like the calm before the storm. The market is currently trading at 350 ¼ which is a ¼ of a cent lower. The trading range has been 351 to 350.

On the Ethanol front the November contract expires today and has 10 contracts open to liquidate. The December contract is currently trading at 1.431 which is .004 of a cent higher. The market is currently showing 1 bid @ 1.431 and 1 offer @ 1.442 with 3 contracts traded and Open Interest at 1,451 contracts.

On the Crude Oil front the market is poised for a major breakout to the upside. A close above $5524 a barrel this year’s high could really trigger the next move. In the overnight electronic session the December Crude Oil is currently trading at 5481 which is 27 points higher. The trading range has been 5503 to 5458.

On the Natural Gas front the December contract is currently trading at 2.960 which is 2 ½ cents higher. The trading range has been 2.966 to 2.930. This is another market poised for a big move to the upside and cold temperatures will help fuel the move.

Have a Great Trading Day!
Dan Flynn

Questions? Ask Dan Flynn today at 312-264-4374

View The Corn & Ethanol Report Archiveswww.pricegroup.comA Subsidiary of Price Holdings, Inc. – an Employee Owned Diversified Financial Services Firm. Member NIBA, NFAPast 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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