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

Busy Day ahead with CPI and Real Earnings at 7:30 A.M., EIA Energy Stocks at 9:30 A.M., Janet Yellen last Fed Meeting with decision of raising Interest Rates and how much? We also have Dairy Product Sales at 2:00 P.M. Reuters News reported yesterday that the White House will host talks between the rival Oil and Ethanol industries today in hopes of brokering a deal to help refiners struggling to meet the country’s biofuel policy. One source familiar with the matter said the meeting would likely focus on short-term fixes to help oil refiners on the U.S. East Coast who say they are struggling with the cost of meeting the Renewable Fuel Standard (RFS) requirements. The industry has requested tweaks to the policy in the past that would cut the annual targets for biofuels; allow Ethanol exports to be counted against those targets, or a shift in blending burden to supply terminals from the refineries. But the Trump administration has ruled in favor of Big Corn and against the refining industry in a series of decisions this year. On the Grain front all December contracts go off the board tomorrow so it would behoove traders with a position to roll or liquidate before the last-minute to avoid any type of squeeze play.

On the Corn front the March contract is currently trading at 348 ½ which is ¾ of a cent higher. The trading range has been 349 ¼ to 347 ¾. Yesterday’s report showed less Corn that was previously thought or reported, however, it should not be enough to start a shock rally. Before you know it we will be talking about plantings and not just weather in South America.

On the Ethanol front there were no trades posted in the overnight electronic session. The January contract settled at 1.295 and is currently showing 2 bids @ 1.293 and 2 offers @ 1.301 with Open Interest at 1,415 contracts.

On the Crude Oil front last night’s API data showed draws in Crude Oil of 7.382 million barrels, Builds in Gasoline stocks of 2.334 million barrels, Distillates had builds of 1.538 million barrels while Cushing, Oklahoma showed draws of 2.704 million barrels. Investors are still hard pressed to believe the past two weeks reports and maybe these numbers are more in line. However it is time to roll up your sleeves because with Roy Moore losing last night’s election, they will try to get it done before year-end. Also, the effect on the U.S. dollar and Stock Market after today’s Fed decision. In the overnight electronic session the January Crude Oil is currently trading at 5754 which is 45 points higher. The trading range has been 5772 to 5740.

On the Natural Gas front supplies are overwhelming the cold weather bullish news with producers running out of storage. The January contract is currently trading at 2.723 which is 4 ½ cents higher. The trading range has been 2.730 to 2.684.

Have a Great Trading Day!
Dan Flynn
Questions? Ask Dan Flynn today at 312-264-4374

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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

 

Questions? Ask Dan Flynn today at 312-264-4374         A Subsidiary of Price Holdings, Inc. – a 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. ©2018