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
Warmer normal temperatures have arrived! This morning we have Personal Income at 7:30 A.M., Chicago PMI at 9:00 A.M., Export Inspections at 10:00 A.M. and Crop Progress at 3:00 P.M. On the Corn front the market is rallying just when the weather turns friendly. In the overnight electronic session the May contract is currently trading at 392 ¾ which is 3 ¼ cents higher. The trading range has been 393 ½ to 390 ½. The market will have an eye on today’s Crop Progress report. On the Ethanol front the June contract is currently trading at 1.464 which is .011 higher. The market is currently showing 2 bids @ 1.460 and 2 offers @ 1.466. 3 contracts traded and Open Interest is at 771 contracts. On the Crude Oil front the market is trading lower after a quiet headline weekend. In the overnight electronic session the June Crude Oil is currently trading at 6750 which is 60 points lower. The trading range has been 6820 to 6722. On the Natural Gas front the market remains quiet. Not much movement in prices even after a bullish Gas Storage number. In the overnight electronic session the June Natural Gas is currently trading at 2.765 which is .006 of a cent lower. The trading range has been 2.778 to 2.756. Thhe song remains the same with a weak cash market and futures hovering over with premium.
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