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 kickoff the day with NIFB Business Optimism Index (Dec) at 5:00 A.M., Redbook YoY (08/Jan) at 7:55 A.M., Fed George Speech at 8:30 A.M., Fed Chair Powell Testimony and IBD/TIPP Economic Optimism (Jan) at 9:00 A.M., NY Fed Treasury Purchases 4.5 to 7 yrs. At 9:30 A.M., Ny Fed Treasury Purchases 10 to 22.5 yrs. at 10:20 A.M., 3-Year Note Auction at 12:00 P.M. and EIA Energy Socks at 3:30 P.M.

On the Corn Front we ended up lower in yesterday’s action with profit taking and long liquidation ahead of Conab’s estimate of Brazil crops today and the USDA report tomorrow. Rains are forecasted next week in dry areas of South America. Exports could rise even further as China is being pressed by Ag Secretary Tom Vilsack over their $16 billion deficit in Phase 1 of the trade agreement. IN THE OVERNIGHT Electronic Session the March corn is currently trading at 600 ¾ which is 1 cent higher. The trading range has been 603 ¾ to 599 ¾.

On the Ethanol Front the Supreme Court yesterday denied the petition filed by Growth Energy in October 2021 seeking a review of the U.S. Court of Appeals for the D.C. Circuit’s July 2, 2021 ruling that vacated a portion of a 2019 EPA rule allowing year-round E15 sales. “We are deeply disappointed that the Court did not grant our petition to review the D.C. Courts opinion, which vacated EPA’s well reasoned decision to extend the seasonal RVP waiver to E15, fuel that has a lower RVP than E10”, said Emily Skor with Growth Energy. There were no trades or open interest in ethanol futures.

Have A Great Trading Day!

Dan Flynn

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