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
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Prepare For A Blizzard Of Bad Numbers This Week. The Corn & Ethanol Report 07/25/2022
We kickoff the week with Chicago Fed Activity Index (Jul) at 7:30 A.M., Dallas Fed Manufacturing Index (Jul) at 9:30 A.M., Export Inspections at 10:00 A.M., 3-Month & 6-Month Bill Auction at 10:30 A.M., 2-Year Note Auction at 12:00 P.M. and Crop Progress at 3:00 P.M.
On the Corn Front the market did get oversold last week and that is reflecting this morning about the bullish fundamentals. Traders will keep an eye on all this week’s economic data. We still have global shortages and I expect we should continue higher barring Consumer Confidence tomorrow and the Fed Announcement Wednesday. The numbers could shock the market again with recession fears casting a pall on the market as we continue to trade volatility and headlines. In the overnight electronic session the September corn is currently trading at 578 ½ which is 14 ¼ cents. The trading range has been 579 to 569.
On the Ethanol Front no breaking news from last week. Brazil is ramping up production from corn and wheat to process new technology as sugarcane will not be their only source. There were no trades or open interest in the ethanol futures.
Have A Great Trading Day!
Dan Flynn
Questions? Ask Dan Flynn today at 312-264-4374