About The Author

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

We kickoff the day with NFIB Business Optimism Index at 5:00 A.M., PPI MoM & YoY, Core PPI MoM & YoY, PPI, PPI Ex Food, Energy, and Trade, and PPI Food, Energy, and Trade MoM & YoY at 7:30 A.M., Redbook YoY at 7:55 A.M., Fed Cook Speech at 8:10 A.M., Fed Chair Powell Speech at 9:00 A.M., Total Household Debt at 10:00 A.M., 42-Day Bill Auction & 52-Week Bill Auction at 10:30 A.M., and API Energy Stocks  at 3:30 P.M..

Another negative inflation spin ahead of Total Household Debt on this week economy that someone is campaigning… On What? Not health. The grain markets came in mixed with soybeans weak on soybean oil profit taking. Ag Resources (ARC) notes managed funds soybean short was cut from 168,000 to 41,000 contracts in four weeks, and corn centers on the complete absence of China from the market in a new crop position. China as of May 2nd had purchased ZERO soybeans from the US for 2024/25 delivery. A year ago, in early May China secured 32 Mil Bu of US soybeans for new crop arrival – despite a record Brazilian crop. US farmers look out for your farmland. Is this administration doing that? Additionally, the US soybean crop on Sunday was 35% planted, vs. the five-year average of 34%, while corn progress is beginning to lag normal. Climate-wise, little has changed in AM weather solutions. CONAB updates Brazilian production and Ag Resources looks for a slightly higher winter corn number based on favorable weather in Mato Grosso to date, but CONAB is not expected to a meaningful revision in it’s planted area forecast.

Have A Great Trading Day!

Thanks,Daniel Flynn

Questions? Ask Dan Flynn today at 312-264-4374