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
It is starting to look like an investor’s paradise in the Grain market. Whispers are seeing commercial and fund activity picking up which should impact Corn prices that have been stuck in dry-dock for too long. As we monitor weather in South America and see what type of harvest they will have and look at global demand we should see some moving and grooving which makes the markets fun to trade again. In the overnight electronic session the March Corn is currently trading at 359 which is 2 ½ cents higher. The trading range has been 359 ¼ to 356 ¾.
On the Ethanol front the market is trading “Rollover Beethoven”, with activity in the February, March and April contracts in the overnight electronic session. The March contract is currently trading at 1.386 which is .006 of a cent higher. The trading range has been 1.397 to 1.386 with 23 contracts traded and Open Interest at 1,882 contracts. The market is currently showing 7 bids @ 1.387 and 1 offer @ 1.392.
On the Crude Oil front we could see some consolidation as investors track and try to understand what is fair value as the market roared to new highs and is far from reaching a top albeit overbought. In the overnight electronic session the March Crude Oil is currently trading at 6544 which is 70 points lower. The trading range has been 6646 to 6529.
On the Natural Gas front the resurgence of winter temperatures have not been able to spark a rally. Producers are still at full capacity and will sell any rally to lock in profit. Look for investors to buy the nearby and sell deferred contracts. The February contract expires today so we will focus on the March contract which is currently trading at 3.075 which is 10 cents lower. The trading range has been 3.128 to 3.038.
Have a Great Trading Day!
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. ©2018
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