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 MBA Mortgage Applications (10/Sep) and MBA 30-Year Mortgage Rate (10/Sep) at 6:30 A.M., Export and Import Prices MoM & YoY (Aug) and NY Empire State Manufacturing Index at 7:30 A.M., Industrial Production MoM & YoY (Aug), Manufacturing Production MoM & YoY (Aug) and Capacity Utilization at 8:15 A.M., EIA Energy Stocks at 9:30 A.M., NOPA Crush at 11:00 A.M., and Dairy Product Sales at 2:00 O.M.
On the Hurricane Front Tropical Depression Nicholas is causing havoc with heavy rains in the Gulf region states. Colonial Pipeline got back online yesterday. This is only the beginning of a huge recovery period to get enterprise moving and help distressed people. Disturbance 2 is moving north-northwestward to the southeast coast of the U.S. and has a 60% of formation in the next 48 hrs. and Disturbance 1 located a few hundred miles south-southwest off the Cabo Verde Islands has an 80% chance of formation moving west-northwestward across the Atlantic. We will be watching this one as a big threat to whatever region this storm makes landfall. The grains and energies have took notice to the recent Acts of God that should have the shorts start feeling the risk factor of Supply/Demand with no carryover and a weak energy policy by the current administration.
Have A Great Trading Day!