About The Author

Daniel Flynn

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 Fed Bostic Speech at 6:30 A.M., Philadelphia Fed Manufacturing Index (Nov), Export Sales, Initial Jobless Claims (13/Nov), Jobless Claims 4-Week Average (13/Nov), Continuing Jobless Claims (06/Nov), Philly Fed Prices Paid (Nov), Philly Fed Business Conditions (Nov), Philly Fed CAPEX Index (Nov), Philly Fed Employment and Philly Fed New Orders (Nov) at 7:30 A.M., Fed Williams Speech at 8:30 A.M., CB Leading Index MoM (Oct) at 9:00 A.M., EIA Gas Storage and NY Fed Treasury Purchases 22.5 to 30 yrs. at 9:30 A.M., Kansas Fed Composite Index (Nov) and Kansas Fed Manufacturing Index (Nov) at 10:00 A.M., 4-Week & 8_Week Bill Auction at 10:30 A.M., 10-Year TIPS Auction at 12:00 PM., Fed Evans Speech at 1:00 P.M. and Fed Daly Speech at 2:30 A.M.

On the Corn Front we finally rallied yesterday as we are seeing a pickup in demand, inflationary interest in many physical commodities. The U.S. is still the cheapest best value buy in the world. Even with South America planting more up 1% at last tally, this market should start to rise. In the overnight electronic session the December corn is currently trading at 578 which is 2 ¾ cents higher. The trading range has been 578 ½ to 572 ¼.

On the Ethanol Front production week ending November 12th averaged 1.06 million barrels per day. Which was up 2.02% on the week and up 10.19% versus last year. Stocks were 20.081 which was down 1.01% on the week and down 0.60% on the year. We still have no open interest in the ethanol futures.

On the Crude Oil Front we are closing in on Last Trading Day for the December contract. The market volatility continues to be intense with wild swings and the API and EIA numbers remain far apart. I still remain bullish this market. If you are seeing pain at the pump, you ain’t seen nothing yet. In the overnight electronic session the January crude oil is currently trading at 7762 which is 7 tics higher. The trading range has been 7771 to 7644.

On the Natural gas Front we have seen this market trade the extremes as well. Today we have the EIA Gas Storage and the Thomson Reuters poll with 15 analysts participating estimate builds of 18 bcf to 33 bcf with the median 25 bcf. This compares to the one-year withdrawal of 11 bcf and the five-year average withdrawal of 44 bcf. In the overnight electronic session the December natural gas is currently trading at 4.912 which is .096 higher. The trading range has been 4.966 to 4.830.

Have A Great Trading Day!
Dan Flynn

Questions? Ask Dan Flynn today at 312-264-4374