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 Fed Logan Speech at 6:30 A.M., Fed Bostic Speech at 8:00 A.M., Michigan Consumer Sentiment Prel, Michigan 5-Year Inflation Expectations Prel, Michigan Consumer Expectations Prel, Michigan Current Conditions Prel, and Michigan Inflation Expectations Prel at 9A.M., Baker Hughes Oil & Total Rig Count at 12:00 P.M. and IBD/TIPP Economic Optimism at 12:00 P.M.
On the Corn Front yesterday’s bearish report which added corn, soybean and wheat carryout. The global macroeconomics resistance is lower and economies and purse strings will change the spending habits of buyers that are importing more than hand to mouth in the current marketplace. Te futures markets are the compass telling us the risk of the risk ahead with energy, food, and stable economy. The markets share consumer prices and faith to change the mess. South American weather remains critical, especially now with the 2nd crop. This could be a gamechanger in the export market. In the overnight electronic session the December corn is currently trading at 463 ¾ which is 4 ¼ cents lower,. The trading range has been 469 to 461 ¾.
Have A Great Trading Day!
God Bless Our Troops!