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 this first Monday of June with Factory Orders at 9:00 A.M., Export Inspections at 10:00 A.M., Dairy Products at 2:00 P.M. and Crop Progress at 3:00 P.M. The Trump administration has slated to unveil biofuels policy changes, which includes efforts to bring down cost to refineries while broadening the market for Ethanol. Talk about a win-win situation, this government resolves problems that the private sector needs. In the overnight electronic session the July Corn is currently trading at 387 ½ which is 4 cents lower. The trading range has been 389 ¾ to 387 ¼. The recent weather we have been experiencing in the Mid-West is perfect weather for Corn and we could see another bumper crop regardless of the acreage.
On the Ethanol front the June contract is in liquidation mode and news the Trump White House is working on a deal to satisfy both parties is a welcoming business platform. N the overnight electronic session the July Corn is currently trading at 1.457 which is .021 lower. The trading range has been 1.477 to 1.456. The market is currently showing 2 bids @ 1.460 and 1 offer @ 1.463. 33 contracts traded last night and Open Interest is at 1,127 contracts.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374