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 Cool Speech at 7:50 A.M., Consumer Inflation Expectations and Export Inspections at 10:00 A.M., 3-Month & 6-Month Bill Auction at 10:30 A.M., Monthly Budget Statement and IBD/TIPP Economic Optimism at 1:00 P.M., and Crop Progress at 3:00 P.M.
The new week begins with the grain futures being mixed in the early going. The markets are hinting what is ahead with demand destruction. The futures markets are directing us what is ahead of us as we are getting signals from the food and energy sectors that no is alright. The gamechanger is right in front of our face with political changes and global weather hinge on global markets and demand and participation.
Australian and South America weather has the futures market attention, corn, soybeans, and wheat keeps us going and global supply and demand never change these markets. In the overnight electronic session the December corn is currently trading at 468 which is 4 cents higher. The trading range has been 468 to 461.
Also we had flash sales of 143k metric tons of corn to Mexico & 264K metric tons to China.
Have A Great Trading Day!
God Bless Our Troops!