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 have the U.S.-China trade talks on with Beijing upbeat and there is still a chance that Trump and Xi will have a meeting. We also have reports, earnings and talk of another government shutdown. Anytime we get good news it just seems certain politicians would sell their soul if they have one to stop or impede forward progress. We do have Export Inspections at 10:00 A.M. On the Corn front we are trading in the red in almost all of the Grain complex. In the overnight electronic session the March Corn is trading in a narrow trading range once again with the last price at 373 ½ which is ¾ of a cent lower. The trading range has been 375 to 373 ¼.
On the Ethanol front the March contract is currently trading at 1.316 which is .008 higher in the overnight electronic session. The trading range has been 1.323 to 1.316. 3 contracts traded and Open Interest is dropping to 1,403 contracts. The market is currently showing 1 bid @ 1.316 and 1 offer @ 1.318.
On the Crude Oil front the market is being pressured with the selloff. The Stock Market is coming in strong while in the overnight electronic session the March Crude Oil is currently trading at 5157 which is 115 points lower. The trading range has been 5278 to 5144.
On the Natural Gas front the market is trading higher on cold weather in the 10-day forecast. In the overnight electronic session the March Natural Gas is currently trading at 2.693 which is 11 cents higher. The trading range has been 2.744 to 2.650.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374