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 S&P Global Manufacturing PMI Final (Jul) at 8:45 A.M., ISM Manufacturing PMI (Jul), Construction Spending MoM (Jun), ISM Manufacturing Employment (Jun), ISM Manufacturing New Orders and ISM Manufacturing Prices (Jul) at 9:00 A.M., Export Inspections at 10:A.M., 3-Month & 6-Monthe Bill Auction at 10:30 A.M., Cotton System, Fats & Oils and Grain Crushings at @:00 P.M., and Crop Progress at 3:00 P.M.
On the Corn Front The heat wave has lifted prices on Friday. Ukraine set sail on 20 vessels yesterday out of the Odessa port, which has impacted morning grain prices. I still dot believe Russia will extend a helping hand. We may have chatter after Export Inspections and Crop Progress after the close. In the overnight electronic session the September corn is currently trading at 598 which is 17 ¾ cents lower. The trading range has been 621 ½ 598 ¼.
On the Ethanol Front the USGC connects due to the expensive geography of South East Asia and cultural norms leaning toward face-to-face business dealings with the US Soybean Council (USEC) organized and held the fourth annual chain back on January 18th and 19th. The virtual conference featuring webinar-style presentations and digital trade show where Council members could network with customers and end users of grains in Southeast Asia. This will make an active cash market while ethanol futures remain in drydock.
Have A Great Trading Day!
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