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 kickoff the day with Consumer Price Index (CPI) and Real Earnings at 7:30 A.M., EIA Energy Stocks at 9:30 A.M. and Dairy Product Sales at 2:00 P.M. On the Corn front the market did not really react overly bullish on yesterday’s Crop Production USDA Supply/Demand data. The timing of China president Xi’s pledging to open their economy and cut tariffs was welcome news to free trade especially with their participation in importing Grains and Ethanol not to mention other commodities. In the overnight electronic session the May Corn is currently trading at 389 ½ which is a ¼ of a cent higher with a tight trading range of 3390 ½ to 389.

On the Ethanol front the May contract is currently trading at 1.478 to 1.475. 7 contracts traded and Open Interest dropping to 1,101 contracts. The market is currently showing 2 bids @ 1.472 and 2 offers at 1.478.

On the Crude Oil front last night’s API showed builds in Crude Stocks of 1.758 million barrels, Gasoline Stocks up 2.005 million, Distillates had a draw of 3.849 million barrels which is bad news for Diesel users. Cushing, Oklahoma showed builds of 1.452 million barrels. The market is trading higher with expectations the coming retribution to Syria for gassing civilians. In the overnight electronic session the May Crude Oil is currently trading at 6590 which is 39 points higher. The trading range has been 6644 to 6515.

On the Natural Gas front the market is quiet with the May contract currently trading at 2.641 which is 1 ½ of a cent lower. The trading range has been 2.670 to 2.621.

Have a Great Trading Day!
Dan Flynn

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