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

China says it is rolling out new tariffs on U.S. meat, fruit and other products as retaliation against taxes approved by President Trump on steel and aluminum. Let the games begin. The Stock Market does not like the news early but does not seemed to be in panic mode and overreacting as we expected this to be forthcoming. The U.S. dollar is trading lower and metals higher. We have a lot of reports this Easter Monday morning with Construction Spending and ISM Manufacturing Index at 9:00 A.M. Export Inspections at 10:00 A.M. Cotton System, Fats & Oils, and Grain Crushings at 2:00 P.M. and Crop Progress at 3:00 P.M. The Grains are racing away this morning after Thursday’s Planting Intentions data. In the overnight electronic session the May Corn is currently trading at 391 which is 3 ¼ cents higher. The trading range has been 392 ½ to 388 ¾.  

On the Ethanol front the May contract is currently trading at 1.462 which is .011 lower. The trading range has been 2.478 to 1.462. The market is currently showing 2 bids @ 1.461 and 2 offers @ 1.467. 9 contracts changed hands and Open Interest is at 925 open contracts.

On the Crude Oil front the market is trading on tight supplies and large demand. There are whispers of sanctions on Iran and investors are wondering where the tariff talk will go with China. I still believe we are going to see higher prices with increasing demand from emerging markets and OPEC and non-OPEC countries solid to sticking to production cuts. In the overnight electronic session the Nay Crude Oil is currently trading at 6529 which is 35 points higher. The trading range has been 6542 to 6486.

On the Natural Gas front the weather is not cooperating so the market will see the knock-out punch as we are swimming in supply and have a weak cash market. With snows and colder than normal temperatures for this time of year should support prices until the floor drops out. In the overnight electronic session the May contract is currently trading at 2.728 which is a ½ of a cent lower. The trading range has been 2.759 to 2.724.

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