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 off this March Monday with ISM Non-Manufacturing Index at 9:00 A.M. and Export Inspections at 10:00 A.M. On the Grain front the complex looks real quiet after last week’s mover and shakers had woken up a sleepy market. The May Corn is currently trading at 385 ¼ which is unchanged. The trading range has been 386 ¼ to 38 in very quiet trade in the overnight electronic session. The market may be looking ahead to Thursday’s Export Sales and Crop Production USDA Supply/Demand. Also monitoring weather concerns in South America as we move closer to plantings.
On the Ethanol front the April contract is currently trading at 1.468 which is .004 of a cent lower. The trading range has been 1.486 to 1. 468. The market is currently showing 1 bid @ 1.471 and 2 offers @ 1.474 with 27 contracts traded and Open Interest at 1,190 contracts.
On the Crude Oil front the market is attempting to divorce itself with the usual cause and effect of the Stock Market and U.S. dollar with the wild swings we have seen the past few weeks. It looks like a fundamental turn is going to take place with large demand and tightness in supply that is catching investors eyes. In the overnight electronic session the April Crude Oil is currently trading at 6135 which is 10 points higher. The trading range has been 6197 to 6110.
On the Natural Gas front the market just can’t buy a sustainable rally. Winter’s last punch is coming at us now and with cash prices where they are at is sending vibes to the bulls this could be the last chance to dance as we move closer into shoulder season. In the overnight electronic session the April contract is currently trading at 2.705 which is 1 cent higher. The trading range has been 2.726 to 2.673.
Have a Great Trading Day!
Thanks, Daniel Flynn
Questions? Ask Dan Flynn today at 312-264-4374
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