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
Happy Rosh Hashana! We kickoff the week with Chicago PMI at 9:00 A.M., Export Inspections at 10:00 A.M. Grain Stocks and Small Grains Summary at 11:00 A.M. and Crop Progress at 3:00 P.M. Talk about betrayal, Mitt Romney breaking ranks with the American voter on this impeachment business. You will see it at the ballot box like you did when you were running against Obama. Pretty amazing when you put your political bias ahead of the will of the American people. On the Corn front, we had plenty of rain over the weekend and the Rockies and Plains had plenty of snow. The cold front is on the Mid-West doorstep and we will feel the drop in the mercury by tomorrow. And farmers harvesting will be put to the test yet again. In the overnight electronic session the December Corn is currently trading at 374 ½ which is 3 cents higher. The trading range has been 374 ¾ to 371 ½.
On the Ethanol front, we have stocks and exports ahead of last year. The spot October is currently trading at 1.550 which is .073 higher. The November contract is currently trading at 1.550 which is .073 higher. The trading range has been 1.456 to 1.426. The market is currently showing 3 bids @ 1.438 and 1 offer @ 1.451. 31 contracts traded and Open Interest is at 462 contracts.
Sorry for the short report due to time constraints.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374