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 kickoff the week with Export Inspections at 10:00 A.M. and Crop Progress at 3:00 P.M. We also have a lot of earnings to report on this busy week of reports ahead of Thanksgiving week. Harvest is near complete and high waters are slowing navigation on the Ohio River near Paducah, Kentucky. As we have record yields and talk of La Nina stirring up weather has investors and traders jockeying for position. In the overnight electronic session the December Corn is currently trading at 342 ½ which is 1 cent lower. The trading range has been 344 to 342 ¼.
On the Ethanol front there were no trades posted in the overnight electronic session. The December contract settled at 1.456 and is currently showing 1 bid @ 1.457 and 3 offers @ 1.465 with Open Interest at 1,255 contracts.
On the Crude Oil front the market continues to edge higher even after a not so bullish inventory data on Tuesday afternoon and Wednesday morning. Things were mainly quiet on the geo-political front but President Trump is garnering and moving to solidify ranks with our allies as Iran and North Korea peddling their nonsense to start a war. In the overnight electronic session the December Crude Oil is currently trading at 5683 which is 9 tics higher. The trading range has been 5702 to 5659.
On the Natural Gas front the market is in selloff mode again from weather premium built-in the market last week. In the overnight electronic session the December Natural Gas is currently trading at 3.168 which is 4 ½ cents lower. The trading range has been 3.204 to 3.144.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374
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