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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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

 

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