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 Monday with Export Inspections at 10:00 A.M. and Crop Progress at 3:00 P.M. We have temperatures reaching above 90 degrees and the latest round of storms are forecasted to drop temperatures. In the overnight electronic session the September Corn is currently trading at 371 which is 1 ¼ of a cent higher. The trading range has been 371 ½ to 368 ¼. Whispers in the market is investors are concerned with yields and bushels per acre.
On the Ethanol front we had activity in the September, October and December contract in the overnight electronic session. The September contract is currently trading at 1.444 which is .003 higher. The trading range has been 1.490to 1.441. The market is currently showing 1 bid @ 1.442 and 1 offer @ 1.444 with 50 contracts traded and Open Interest at 995 contracts.
On the Crude Oil front the market got the shot in the arm when news broke late last week that Crude Oil storage was down putting that in the mix with a lot of geo-political risk on the table driving this market as well. In the overnight electronic session the September Crude Oil is currently trading at 6917 which 68 points higher. The trading range has been 6958 to 6850.
On the Natural Gas front we are coming in lower this morning even with very hot temperatures in the lower 48. In the overnight electronic session the September Natural Gas is currently trading at 2.828 which is 2 ½ cents lower. The trading range has been 2.865 to 2.822.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374