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
On the Corn front we are a little weaker in the overnight electronic session. The May Corn is currently trading at 341 ½ which is 2 cents lower. The trading range has been 344 to 341 so far.
On the Ethanol front we have a flurry of selling recently even though it is key component ingredient to make hand sanitizer. There were no trades posted in the overnight electronic session and April’s Open Interest is down to 104 contracts so we will rollover to the May contract which settled at .905 and is currently showing 1 bid @ .860 and 1 offer @ .958 with Open Interest at 305.
On the Crude Oil front the market is higher but still weighing the tough talk of market share between the Russians and Saudi’s. The Saudi’s have been feeling the pain with transportation cost versus profit but this their baby and they can change the outcome. We also have the API Energy Stocks at 3:30 P.M. In the overnight electronic session the May Crude Oil is currently trading at 2404 which is 68 points higher. The trading range has been 2516 to 2370.
On the Natural Gas front the market is coming in higher this morning. The April contract is currently trading at 1.632 which is 3 cents higher. The trading range has been 1.669 to 1.583.
Have a Great Trading Day!
Questions? Ask Dan Flynn today at 312-264-4374