March Madness Continues. The Corn & Ethanol Report 03/21/2022

We start off the day with Fed Bostic Speech at 7:00 A.M., Chicago Fed Activity Index (Feb) at 7:30 A.M., Export Inspections at 10:00 A.M., 3-Month & 6-Month Bill Auction  at 10:30 A.M., fed Powell Speech at 11:00 A.M., and Milk Production at 2:00 P.M.

On the Corn Front China announced it would sell 1 mmt of potash fertilizer from reserves of spring farming demand. Fertilizer is a hot commodity these days and China will cash in anyway they can. Corn producers and traders are watching weather in South America as their crop could lead to a smaller export market as the onslaught put on the Ukraine will definitely disrupt any exports coming from the Black Sea. We will be watching weather with a possible La Nina and a market that could be demand driven until further notice. In the overnight electronic session the May corn is currently trading at 750 ½ which is 8 ¾ cents lower. The trading range has been 757 ½ to 743.

On the Ethanol Front the same headlines have been retreaded as the story floated in this commodity is whether it could impact and soften the blow of the energy crisis. The ethanol lobby will is focused on explaining the overall benefits of ethanol like we found out the dividend it paid for hands sanitizer at the heart of the pandemic. There were no trades or open interest in ethanol futures.

On the Crude Oil Front the market is rolling with risk on as the war continues IN THE Ukraine and we are handcuffed for energy solutions. Americans feel the pain at the pump with no stop in sight for inflation. Americans want results to cure these prices no lip service from the administration or the green energy lobby. Tomorrow is Last Trading Day on the April crude oil futures. In the overnight electronic session the May crude oil is currently trading at 10771 which is 462 points higher. The trading range has been 10819 to 10247.

On the natural Gas Front the market is easing off a little as the weather is coming around as we head into shoulder season. In the overnight electronic session the April natural gas is currently trading at 4.790 which is 0.073 higher. The trading range has been 4.971 to 4.765.

Have A Great Trading Day!

Dan Flynn

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