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

We kick-off the day with GDP and Advanced Trade in Goods at 7:30 A.M., Pending Home Sales at 9:00 A.M., EIA Energy Stocks at 9:30 A.M. and Dairy Product Sales at 2:00 P.M. On the Corn front the May contract is currently trading at 373 ½ which is a ½ of a cent lower. The trading range has been 375 to 372 ½. The market may have another quiet session ahead of tomorrow’s quarter end that could get the funds rolling with Export Sales, Grain Stocks and Planting Intentions.

On the Ethanol front the May contract is currently trading at 1.454 which is .008 higher. The trading range has been 1.458 to 1.452. The market is currently showing 1 bid @ 1.458 and 2 offers @ 1.458. 8 contracts changed hands and Open Interest is at 949 contracts.

On the Crude Oil front last night’s API showed builds in Crude of 5.32 million barrels, Gasoline stocks down 5.80 million, Distillates down 2.24 million and Cushing up 1.66 million. The large builds could be sales of 7 million barrels from the Strategic Petroleum Reserve (SPR) while the EIA Energy Stocks could paint a different picture this morning. In the overnight electronic session the May Crude Oil is currently trading at 6478 which is 47 points lower. The trading range has been 6498 to 6438.

On the Natural Gas front the market should be in sell-off mode with yesterday’s spike with the April contract expiring yesterday. In the overnight electronic session the May contract is currently trading at 2.704 which is 1 cent lower. The trading range has been 2.731 to 2.695.

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