Unemployment Day. The Corn & Ethanol Report 01/07/2022

We start off the day with Unemployment (Dec) at 7:30 A.M., Fed Daly Speech at 9;00 A.M., NY Fed Treasury Purchases 0 to 2.25 yrs. at 9:30 A.M., Fed Bostic Speech at 121:15 A.M., Fed Barkin Speech at 11:30 A.M., Baker Hughes oil & Total Rig Count at 12:00 P.M., and Consumer Credit Change (Nov) at 2:00 P.M.

On the Corn Front Mike North with ever ag said really strong demand with soybean meal sent prices north of $400 a ton while soybean oil is also trading near multi-year highs. The risk management specialist says opportunities are now there for making a profit on soybeans and corn. On and off weather in South America is playing a role in prices and weather change are expected to be over 11 degrees and no rain. In the overnight electronic session the March corn is currently trading at 600 ¼ which is 3 ½ cents lower. The trading range has been 606 to 599.

On the Ethanol Front steady sugar prices, higher ethanol blending are keeping manufacturers in a sweet spot. November ethanol exports were up 43% on the month and a multi-year high. There were no trades in ethanol futures.

On the Crude Oil Front  $100 a barrel here we come there seems no stopping it with inflation and a terrible energy policy. These woes will cost us at the pump. In the overnight electronic session the February crude oil is currently trading at 8003 which is 57 points higher. The treading range has been 8047 to 7947.

On the Natural Gas Front this market is trading in and up and down pattern with Arctic weather remaining until mid-next week. In the overnight electronic session the February natural gas is currently trading at 3.877 which is 0.055 higher. The trading range has been 3.893 to 3.800.

Have A Great Trading Day!

Dan Flynn

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