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 have Factory Orders at 9:00 A.M. and API Energy Stocks at 3:30 P.M. On the Corn front prices are rising as sales increase but is still dirt cheap at these levels leaving this commodity a very attractive buy for feed and other uses. A wet spring forecasted and cheap prices versus Soybeans could reduce acres of Corn planted. In the overnight electronic session the May Corn is currently trading at 387 which are a ¼ of a cent lower. The trading range has been 377 ¼ to 385 ½.
On the Ethanol front the April posted a trade at 1.495 which is .013 higher with 2 contracts traded and Open Interest is at 1,158 contracts. The market is currently showing 2 bids @ 1.495 and 1 offer @ 1.503.
On the Crude Oil front we have the API Energy Stocks data today and Crude Oil storage levels are in free fall at America’s biggest distribution hub. Traders and investors are starting to realize the glut is gone and tanks at Cushing, Oklahoma, and is holding the least Oil in more than three years as stocks shrank for the 10th straight week. In the overnight electronic session the April Crude Oil is currently trading at 6315 which is 58 points higher. The trading range has been 6328 to 6245.
On the Natural Gas front were trading a little higher because of the winter storm causing havoc across the Plains and Mid-West. I still believe this is a short-term spike due to cold weather in the Dakota’s and Minnesota. In the overnight electronic session the April Natural Has is currently trading at 2.724 which is 2 cents higher. The trading range has been 2.737 to 2.702.
Have a Great Trading Day!
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
SubscribeReceive daily summaries of all Market Insights blog posts.
Enter email below.
Most Recent Posts
- Morning Grains Report 03/22/18
- Morning Softs Report 03/22/2018
- Tariffs Latest Market Jitters. The Corn & Ethanol Report 03/22/18
- Fed Raises Rates, Cattle on Feed. The Nemenoff Report 03/22/18
- Below Average. The Energy Report 03/22/18
- AGMASTER 03/21/18
- Morning Grains Report 03/21/18
- Morning Softs Report 03/21/2018