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
In honor of our brave Men & Woman serving our country we have a bank holiday and no reports scheduled today.
On the Corn Front Export Sales will be delayed until tomorrow. The corn market traded sharply higher in yesterday’s action testing resistance at 571 as the World data on corn was bullish. The question in traders and farmers are if China will be back to buying before 2022 and what South American exports look like. In the overnight electronic session the December corn is currently trading at 568 ¼ which is 1 cent lower. The trading range has been 569 ½ to 566.
On the Ethanol Front production was down from last week but traders feel corn ethanol should rise as high as another 150 million bushels as prices are competitive for buyers. With strong demand we should expect to see some more wild swings. The ethanol futures are again showing zero Open Interest.
God Bless Our Men & Woman Who Fought For Our Freedoms!
Have A Great Trading Day!