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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More Corn & Soybeans In the Bin. The Corn & Ethanol Report 12/05/2022
We kickoff the day with 6-Month & 12-MonthBTF Auction at 8:00 A.M., S&P Global Composite PMI Final (Nov) and S&P Global Services Final PMI (Nov at 8:45 A.M., ISM Non-Manufacturing Orders (Oct), Factory Orders MoM (Oct). Factory Orders ex-Transportation (Oct), ISM Non-Manufacturing Business Activity (Nov), ISM Manufactory New Orders (Nov, and ISM Non-Factoring Employment (Nov) at 9 A.M., 3-Month & 6-Month Bill Auction at 10:30 A.M., and Export Inspections at 10:00 A.M.
On The Corn Front price risk are in play as corn & soybeans as carryout grows. This only shows the dwindling basis for farmers, which will carry to the grocery store. In the overnight electronic session the December corn is currently trading at 637 ¼ which is 2 ¼ cents higher. The trading range has been 637 ¼ to 632 ¾.
On the Ethanol Front the EPA proposes more biofuels in the nation’s gasoline. No matter, what the administration is selling with more grams in the bin and no exports to China will only continue regulation. There were no trades in ethanol futures with the December contract expiring.
Have A Great Trading Day!
Dan Flynn
Questions? Ask Dan Flynn today at 312-264-4374