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 wacky Wednesday with U.S. Trade Balance at 7:30 A.M. and API Energy Stocks at 3:30 P.M. on this shortened holiday week. I do expect draws across the board on Energies. It looks like the markets are getting back into focus on the road ahead and may eventually trade at fair value. Many geo-political events are fueling investors fears and unreasonable prices. On the Corn front the December contract is currently trading at 360 which is 1 cent lower. The trading range has been 363 to 360.
On the Ethanol front the October contract posted a trade at 1.319 which is unchanged. The market is currently showing 1 bid @ 1.312 and 2 offers @ 1.322 with 4 contracts traded and Open Interest declining to 395 contracts.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374