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 this bank holiday in the UK with Dallas Fed Manufacturing Index (Dec) at 9:30 A.M., 3-Month & 6-Month Bill Auction at 10:30 A.M., and 2-Year Note Auction at 12:00 P.M.

On the Corn Front U.S. corn and soybeans extended their rally on South American weather. Michael Hogan with Reuters reports. While U.S. weather across the Plains and Midwest are forecasted to have more December like precipitation and snow. In the overnight electronic session the March corn is currently trading at 612 which is 6 ¼ cents higher. The trading range has been 612 ½ to 607.

On the Ethanol Front U.S. ethanol inventories took a surprising drop last week while production also fell. The EIA showed U.S. ethanol inventories totaled 20.7 million barrels which was a drop of almost 200,000 barrels from last week. While production was down 36,000 barrels per day to 1.05 per day. There were no trades or open interest in the ethanol futures.

On the Crude Oil Front the market fell after Covid-19 flight cancellations. U.S. airlines canceled over 1,000 flights yesterday. Meanwhile Iran says oil exports will be the focus as the Vienna nuclear talks resume. OPEC+ will meet next Tuesday to discuss production and the API’s are schedule for tomorrow. In the overnight electronic session the January crude oil is currently trading at 7277 which is 102 points lower. The trading range has been 7350 to 7257.

On the Natural Gas Front we are coming in higher with winter weather forecasted this week in the lower 48 states with the first accumulation tomorrow in the Midwest. In the overnight electronic session the January natural gas is currently trading at 3.811 which 0.080 higher. The trading range has been 3.979 to 3.767.

Have A Great Trading Day!

Dan Flynn

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