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 start Easter Monday with Export inspections at 10:00 A.M. followed with Crop Progress at 2:00 P.M. We also have a busy day with May Crude Oil expiring today and Secretary Mike Pompeo is expected to make a speech reinitiating sanctions on Iran. This is coupled with more risk on with a civil war developing in Libya, Venezuela having problems to produce a drop of Oil and China being a large customer of Iran and will make the U.S.-China trade talks more interesting with Agriculture hanging in the balance. In the overnight electronic session the May Corn is currently trading at 356 which is 2 ½ cents lower. The trading range has been 359 to 356.
On the Ethanol front there were no trades posted in the overnight electronic session. The May contract settled at 1.333 and the market is currently showing 3 bids @ 1.328 and 2 offers @ 1.345. I expect higher prices with shortages on the horizon.
On the Crude Oil front the June contract is currently trading at 6558 which is 151 points higher. The trading range has been 6599 to 6405.
On the Natural Gas front we are trading higher in the early going with the May contract currently trading at 2.525 which is 2 ½ cents higher. The trading range has been 2.528 to 2.484.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374