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 start off the 2nd Monday of the week with Jobless Claims at 7:30 A.M., ISM Non-Manufacturing Index at 9:00 A.M., EIA Energy Stocks at 10:00 A.M., Dairy Products and Dairy Product Sales at 2:00 P.M.
There was no overnight session on Corn and we re-open this morning. We had rains and humid temperatures that should put pressure on the market early and also tariff talk may become reality tomorrow.
On the Ethanol front the August contract is currently trading at 1.428 which is .013 higher. The trading range has been 1.441 to 1.425. 20 trades were posted and Open Interest is at 1,040 contracts. The market is currently showing 1 bid @ 1.423 and 4 offers @ 1.428.
On the Crude Oil front the market can’t seem to be talked down with continuous bullish fundamentals. In the overnight electronic session the August Crude Oil is currently trading at 7424 which is 10 tics higher. The trading range has been 7490 to 7350.
On the Natural Gas front the market bounced off the lows with pretty decent volume considering the 4th of July holiday. In the overnight electronic session the August Crude Oil is currently trading at 2.875 which is a ½ of a cent higher. The trading range has been 2.894 to 2.822.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374