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

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!
Dan Flynn
Questions? Ask Dan Flynn today at 312-264-4374

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Questions? Ask Dan Flynn today at 312-264-4374