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

With the European markets back in action today there will be more volume of trades and the fear factor of tariffs and high-tech espionage rattled the markets yesterday after a long Easter weekend. At the moment the market is showing me that it cannot justify the overreaction of yesterday’s selloff. However, the market is always right. President Trump and his administration is moving on fair trade and foreign policy and the changes look to benefit the American worker and consumer. Let’s see how this chapter works out. On the Corn front the market is treading water and in the overnight electronic session the May Corn is currently trading at 387 ¼ which is unchanged. The trading range has been 388 ½ to 386 ¾. We also need a break in the weather to bring spring temperatures so the farmers can begin to cultivate the fields.

On the Ethanol front China said it would slap on an extra 15% tariff on U.S. Ethanol with duties already at 30%. If they are serious about their ambitions to have the percentage of Ethanol in their fuel by 2020 and expect Grains for feed and human consumption with the agriculture markets the way they are globally this year across the globe you can expect China to not be a Barney Fife and shoot themselves in the foot. The long and short, they will come back to the table and break bread. No pun intended. In the overnight electronic session the May Ethanol is currently trading at 1.419 which is .008 lower. The trading range has been 1.427 to 1.400.

On the Crude Oil front Genscape found more supply than previously expected in Cushing, Oklahoma and with light volume and the Stock Market taking a beating the Crude Oil and Products eventually followed suit. The fundamentals are still there to have the market trade higher and get back into balance regardless of tariff or trade war talk, cooler heads will prevail. At 3:30 P.M. we have the weekly API Energy Stocks that could bring a dose of realty back in the marketplace. In the overnight electronic session the May Crude Oil is currently trading at 6331 which is 30 points higher. The trading range has been 6357 to 6286.

On the Natural Gas front it is the same old song. In the overnight electronic session the May contract is currently trading at 2.683 which is unchanged. The trading range has been 2.691 to 2.667. If the weather finally breaks so will this market to reach the Cash market.

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