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
Another sign the Affordable Health Care Act or Obama care is falling apart at the seams as it runs Amok with stupid over regulations. With Aetna’s Inc’s board of directors approving the U.s health insurer’s sale to drugstore chain operator CVS Health Corp. for approximately $207 per share in cash and stock. This story reported by Fox Business. On the Corn front we are hoping for a post-harvest rally that the Beans and Wheat are experiencing but the Corn is trading just a tad higher with the March contract currently trading at 359 ¼ which is a ½ of a cent higher. The trading range has been 360 ½ to 358 ¾. This morning we have Factory Orders at 9:00 A.M. and Export Inspections at 10:00 A.M. and traders will be monitory Thursday’s Export Sales.
On the Ethanol front last week’s breaking story about the EPA talk of raising biofuels in the nations gasoline drew some eyeballs and we can expect a spirited debate. The December Ethanol is heading to expiration and the January contract is currently trading at 1.370 which is .006 of a cent higher. The trading range has been 1.388 to 1.369. The market is currently showing 1 bid @ 1.366 and 1 offer @ 1.374 with 2 contracts traded and Open Interest at 1,267 contracts.
On the Crude Oil front the market is easing off we traders eyeballing the overbought technical but with the bullish fundamental news in the air I expect investors to buy value and our buy number is coming in at 5748 unless you want to be a cowboy and buy at current levels. In the overnight electronic session the January Crude Oil is currently trading at 5781 which is 55 points lower. The trading range has been 5834 to 5763.
On the Natural Gas front the market is pricing in colder temperatures after today’s run-in with 60 degree temperatures and then the mercury is forecasted to head south for the winter. In the overnight electronic session the January Natural Gas is currently trading at 3.106 which is 4 ½ cents higher. The trading range has been 3.127 to 3.066.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374
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