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 jumpstart the week with Consumer Confidence at 9:00 A.M., Export Sales at 10:00 A.M. and Crop Progress at 3:00 P.M. In the overnight electronic session the July Corn is currently trading at 406 ¾ which is ¾ of a cent higher. The trading range has been 410 to 406 ¾. Weather played a factor this weekend depending on what region of the country you live in, either too much heat or too much rains leading to flooding.
On the Ethanol front the July contract at 1.526 which is .002. The trading range has been 1.539 to 1.525. 59 trades changed hands and Open Interest is at 1.014 contracts. The market is currently showing 1 bid @ 1.526 and 1 offer @ 1.530.
On the Crude Oil front the slide continues with the Saudi’s and Russian’s hinting of boosting production in 2019. The market still seems to have overreacted. In the overnight electronic session the July Crude Oil is currently trading at 6730 which is 58 pints lower. The trading range has been 6755 to 6580.
On the Natural Gas front the June contract expires today so we will shift our focus to the July contract 2.920 which is .043 lower. The trading range has been 3.000 to 2.912.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374