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 start out Monday morning with Export Inspections at 10:00 A.M., Milk Production at @2:00 P.M. and Cop Progress at3:00 P.M.
The Grains failed to keep the rally going after Fridays surge in that trading session starting this holiday week. Corn harvest is very close to being over depending where you are geographically.
In the overnight electronic session the December Corn is currently trading at 342 ¼ which is ¾ of a cent lower. The trading range has been 343 ½ to 342.
On the Ethanol front there were no trades posted in the overnight electronic session. The December contract settled at 1.415 and is currently showing 1 bid @ 1.414 and to offers @ 1.430 with Open Interest on the decline with 1,033 contracts and the January contract may overtake December Open Positions this holiday trading week.
On the Crude Oil front the December contract goes off the board today so if you’re not out yet it would be a good idea to get cracking. In the overnight electronic session the January contract is currently trading at 5638 which is 33points lower. The trading range has been 5693 to 5622.
On the Natural Gas front ever-changing weather forecasts have this market trading like a roller coaster with several peaks and valleys. In the overnight electronic session the December Natural Gas is currently trading at 3.032 which is 6 ½ cents lower. The trading range has been 3.089 to 3.026. La Nina could throw some curveballs, Change ups and sliders in the mix and we could have drought conditions in the U.S. and South America.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374
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