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 off the day with Consumer Inflation Expectations (DEC) and Export Inspections at 10:00 A.M.,3-Month and 6-Month Bill Auction at at 10:30 A.M., Fed Bostic Speech at 11:00 A.M., 3 _Year Note Auction at 12:00 P.M., and Fed Kaplan Speech at 5:00 P.M.
On the Corn front the market continues to trade higher and could be heading into overbought areas ahead of tomorrow’s WASDE report. In the overnight electronic session, the March corn is currently trading at 497 which is ¾ of a cent higher. The trading range has been 500 ½ to 490 ½.P
On the Ethanol Front the market has been working on strategies for growth in the industry. Working on growth trends with all the majors including Conoco Phillips, Exxon Mobil, Chevron, Petrobras, Cosan, CNPC and Sinope Sinopec which will report on key opportunities in Automotive Ethanol Gasoline market. There were no trades posted in the overnight electronic session. The April contract settled at 1.591 and is currently showing 1 bid @ 1.305 and 0 offers posted with Open Interest at 45 contracts.
Have A Great Trading Day!