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
The API data showed builds of 5.661 million barrels. The market is holding its own for now while stocks tank with the resignation of chief economic advisor Gary Cohn after President Trump confirmed he would impose stiff tariffs on Steel and Aluminum imports. In the overnight electronic session the April Crude Oil is currently trading at 6233 which is 27 points lower. The trading range has been 6239 to 6180. Today at 9;30 A.M. we will have the EIA Energy Stocks and see if there is any change in the data, which will either confirm or deny the API overshot the bearish build. At 7;30 A.M. we have the U.S. Trade Balance followed at 2:00 P.M. we have Consumer Credit and Dairy Product Sales.
On the Corn front we have the market looking ahead to tomorrows Export Sales, Crop Production and USDA Supply/Demand. Sales have been moving but there is still plenty to be made with prices still cheap and Argentina’s shortfall will be close to as advertised but traders and investors think the rains in Brazil will see the crop come around but at we be looking at price fluctuations and changes in Corn and Soybean plantings that have already been schedule to plant. Today is Last Trading Day in all March Grains. In the overnight electronic session the May Corn is currently trading at 388 which is a ¼ of a cent lower. The trading range has been 388 1/4 to 386 ¾.
On the Ethanol front the April contract is currently trading 1.505 which is .007 higher. The trading range has been 1.509 to 1.486. The market is currently showing 1 bid @ 1.501 and 1 offer @ 1.505 with 6 contracts traded and Open Interest at 1,121.
On the Natural Gas front the cold wintery storms that rolled through the Plains and Great Lakes region is now headed east and will bring another Nor’easter that could bring a foot of snow and power outages across the Northeast. In the overnight electronic session the April Natural Gas is currently trading at 2.774 which is 2 ½ cents higher. The trading range has been 2.782 to 2.744.
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