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 Export Sales and Wholesale Trade at 7:30 A.M., Wholesale Inventories MoM at 9:00 A.M., Financial Accounts of the United States at 11:00 A.M., Gaker Hughes Oil & Total Rig Count at 12:00 P.M., Consumer Confidence, Consumer Credit Change and Used Car prices MoM & YoY at 2:00 P.M.
On the Corn Front the USDA will release the weekly Export Sales a day later due to the Labor Day holiday. We’re expecting corn and soybeans sales will reflect improvement at current price levels that importers deem as attractive. On Monday we will have Export Inspections following today’s Export Sales. Also on Monday we will have Crop Progress before Tuesdays Crop Production USDA Supply/Demand and WASDE data. I cannot stress enough that traders are still sheepish on yields, especially after the crop tours. The upcoming combine will prove the results of this crops yield. Forecasts for the Central US show no evidence of the return of excessive heat or normal rainfall. Soil moisture levels will continue their decline which has had a significant downward pull on US summer row crop yield. Corn and soybean seed size is being adversely impacted amid arid/hot end of the US growing season. We also began the 2023 growing season with dry and warmer temperatures that did not help the crops take root. In the overnight electronic session the December corn is currently trading at 487 ½ which is 1 ¼ of a cent lower. The trading range has been 488 ¾ to 485.
On the Ethanol Front Biofuels International reports Lummus Technology has announced the commercial availability of its ethanol to sustainable aviation fuel (SAF) process technology. The technology provides operators with a large-scale commercially demonstrated solution to reduce the aviation industry’s greenhouse emissions. “Lummus” extensive commercial experience in all steps, including conversion of ethanol feedstock and production of SAF process, gives us a unique advantage to help our customers to produce sustainable fuels,” said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. “Our process leverages proven, commercial-scale technologies that we integrate to meet aviation industry’s growing demand for SAF and support its decarbonization efforts. The full story can be found in Biofuels International. There were no trades or o[pen interest in ethanol futures.
Have A Great Trading Day!