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 Import and Export Prices MoM & YoY (Apr) at 7:30 A.M., Michigan Consumer Sentiment Prel (May), Michigan 5-Year Inflation Expectations Prel (May), Michigan Consumer Expectations Prel (May), Michigan Current Conditions Prel (May) and Michigan Inflation Expectations Prel (May) at 9:00 A.M. Fed Kashkari Speech at 10:00 A.M. and Baker Hughes Oil & Total Rig Count at 12:00 P.M.
On the Corn Front we have Last Trading Day on May grains today. The USDA dropped corn national yield to 177 bushels per acre.. Bill Spiegel with Successful Farming wrote there is still time to plant corn and do not let the planting stress fool you. The Corn Belt has about a four-week window that is “optimal” planting date for maximum yield performance. In the overnight electronic session the July corn is currently trading at 759 ½ which is 4 ¼ cents lower. The trading range has been 768 ½ to 758 1/4,.
On the Ethanol Front Colorado wants to wants to capture and bury 350,000 tons of carbon dioxide each year. Carbon America will gather that number from Yuma and Sterling ethanol maker and store it deep underground in the climate change fight. There ws no trading activity in ethanol futures.
Have A Great Trading Day!
Dan FlynnQuestions? Ask Dan Flynn today at 312-264-4374