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
Reporting for duty on the last trading session of 2018 I must say better late than never as the Stock Market had a better comeback than Lazarus and let’s keep the Santa Claus rally moving. With forward progress moving in U.S.-Sino trade talks that could possibly open not only a window but a door of trade to epic proportions. In the overnight electronic session the March Corn is currently trading at 376 which is 1 ½ of a cent higher. The trading range has been 376 ½ to 374 ½.
On the Ethanol front the February contract is currently trading at 1.279 which is 1 cent higher. The trading range has been 1.285 to 1.269. 31 contracts traded and Open Interest is climbing to 1,929 contracts.
On the Crude Oil front the market is hoping Santa stuffed it’s stocking as well. It had a great bounce even after an outlandish API number and the recovery in the oversold Stock Market may have given this market wings. In the overnight electronic session the February Crude Oil is currently trading at 4498 which is 37 points higher. The trading range has been 4622 to 4449.
On the Natural Gas front the market is not paying much attention to weather concerns forecasted in the five-day outlook. In the overnight electronic session the February contract is currently trading at 3.351 which is 19 ½ cents lower. The trading range has been 3.527 to 3.331.
Have a Great Trading Day!
And a Prosperous New Year!
Questions? Ask Dan Flynn today at 312-264-4374