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 CB Leading Index MoM at 9:00 A.M., Export Inspections at 10:00 A.M., 3-Month & 6-Month Bill Auction at 10:30 A.M., 52-Week Bill Auction at 12:00 P.M.
With the USDA’s Annual Outlook Forum deemed bearish, China has returned to the market after their weeklong Lunar New Year holiday. It is too early to confirm a bottom has been formed. However, other signs traders will be watching for and need to navigate US & South American weather, carryover stocks, new crop and global demand just for starters. This is another sign to watch the cash market which will send a message of how low we can go and how high we can go. We will get a partial education as we move closer to planting season. As we mentioned before traders will be thinking ahead of potential yields from this years crop. There will be a lot of factors coming out to play in march and April. US plantings, South American crop and the abundance of corn not only for human consumption, feed, and biofuels. When the EPA and the Biden administration meet March 1st , will be critical to the ability of ethanol and renewable diesel to qualify for new tax credits for sustainable aviation fuel (SAF). The SAF credits are sizable and are a key to ethanol’s pivot from auto to aviation fuels. No question we need less regulation in agriculture and energy sectors.
Market Rallies With China Buying Brazilian Soybeans. The Corn & Ethanol Report 02/20/2024
We kickoff the day with CB Leading Index MoM at 9:00 A.M., Export Inspections at 10:00 A.M., 3-Month & 6-Month Bill Auction at 10:30 A.M., 52-Week Bill Auction at 12:00 P.M.
With the USDA’s Annual Outlook Forum deemed bearish, China has returned to the market after their weeklong Lunar New Year holiday. It is too early to confirm a bottom has been formed. However, other signs traders will be watching for and need to navigate US & South American weather, carryover stocks, new crop and global demand just for starters. This is another sign to watch the cash market which will send a message of how low we can go and how high we can go. We will get a partial education as we move closer to planting season. As we mentioned before traders will be thinking ahead of potential yields from this years crop. There will be a lot of factors coming out to play in march and April. US plantings, South American crop and the abundance of corn not only for human consumption, feed, and biofuels. When the EPA and the Biden administration meet March 1st , will be critical to the ability of ethanol and renewable diesel to qualify for new tax credits for sustainable aviation fuel (SAF). The SAF credits are sizable and are a key to ethanol’s pivot from auto to aviation fuels. No question we need less regulation in agriculture and energy sectors.
Have A Great Trading Day!
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Questions? Ask Dan Flynn today at 312-264-4374Daniel Flynn