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
After our Thanksgiving feast we start of this Monday with Export Inspections at 10:00 A.M. and Crop Progress at 3:00 P.M. On the Corn front the market closed a little easier in Friday’s light action and we have a continuation in the overnight electronic session. The December Corn is currently trading at 358 ½ which is a ½ of a cent lower. The trading range has been 360 ½ to 358 ¼. I traveled through northeastern Illinois and southeastern Wisconsin and to my amazement I did see a fraction of fields primed for harvesting, but now that old man winter cast his shadowed the fields are under a foot of snow.
On the Ethanol front the December contract is currently trading at 1.273 which is .003 lower. The trading range has been 1.291 to 1.270. 32 contracts traded and Open Interest continues to decline to 870 contracts which are outpaced by the January 1,240 Open Positions. The December contract is currently showing 1 bid @ 1.270 and 1 offer @ 1.273.
On the Crude Oil front, can the G 20 summit or the OPEC meeting come any sooner? A whopping $4 break in Friday’s trading session on no news and of course light volume. Can we stay solvent before the insanity ends? Inquiring bull minds need to know. In the overnight electronic session the December Crude Oil is currently trading at 5172 which is 130 points higher. The market is looking to recapture ground from Friday’s ridiculous huge selloff. The trading range has been 5185 to 5010.
On the Natural Gas front this sidewinder market is trading cold weather and the market is volatile with big moves up and crashes down. In the overnight electronic session the December Natural Gas is currently trading at 4.126 which is 18 cents lower. The trading range has been 4.137 to 3.990.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374