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 Thursday with CPI, Export Sales, Jobless Claims and Real Earnings at 7:30 A.M., EIA Gas Storage at 9:30 A.M. and Crop Production USDA Supply/Demand at 11:00 A.M. We will be also trading the many headlines, many reports and weather as President Trump is on a whirlwind trip of Europe. On the Corn front we have most of the Grain complex trading higher ahead of Export Sales and the USDA reports. Weather will be a key component of what the farmers yields will be after a helter skelter growing season. In the overnight electronic session the September Corn is currently trading at 342 ½ which is 2 ½ cents higher. The trading range has been 344 to 341. Let’s buckle up our chinstrap for the 11 o’clock reports.
On the Ethanol front activity and rollovers are starting to shows as the September contract moves closer to being the big dog on the front end. In the overnight electronic session the August Ethanol is currently trading at 1.404 which is .006 higher. The trading range has been 1.404 to 1.396. 10 contracts traded and Open Interest is at 997 contracts. The market is currently showing 1 bid @ 1.397 and 3 offers @ 1.404.
On the Crude Oil front after yesterday’s big water slide investors are starting to realize that the economy is strong and he economic warfare is just in the beginning stages or has it been going on for decades and we finally have come to the conclusion it is great to settle differences when you deal with from strength not weakness. In the overnight electronic session the August Crude Oil is currently trading at 7053 which is 15 points higher. The trading range has been 7124 to 7040.
On the Natural Gas front this could be the last hurrah for bulls once the summer yields to autumn like temperatures and last bastion of a long drawn out weather market before shoulder season. In the overnight electronic session the August contract is currently trading at 2.809 which is 2 cents lower. The trading range has been 2.827 to 2.807.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374