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 NY Empire State Manufacturing Index at 7:30 A.M., Export Inspections at 10:00 A.M., NOPA Crush Report at 11:00 A.M., Fed Chair Powell Speech at 11:30 A.M., Crop Progress at 3:00 P.M., and Fed Daly Speech at 3:35 P.M.

The CBOT opened week to mixed to slightly higher, and quickly retreated on favorable US weather and a stronger US dollar following the Saturday attempted assassination of former President Trump. Ag Resources (ARC) Notes: The stricken President emerged politically stronger which has held varied impacts on financial markets. In the grains, the fear is that Trump will place new tariffs on China which will deepen a trade war that started back in 2018. Net US agricultural trade is in decline. My take is simple, Free Markets For Free Men, that means a fair balance of trade with an equal playing field or I am for tariffs. However, (ARC continues), it’s far too early to react after November’s winner and their coming policies, but China’s absence as a US corn/soybean buyer in recent months is worrisome. The key question going forward is will China step up their US demand ahead of the US election fearing higher tariffs sometime in mid-2025. Current CBOT pieces reflect strong Chinese import margins. Central US weather forecasts are generally favorable with no extreme heat forecast into the Gulf States and Southeastern US. The market is trading 182-184 BPA corn and 53 BPA soybean yield. NASS in the August report will adjust US planted and harvested acres due to FSA data. ARC is looking for a combined 1.5-2.0 acre fall in corn and soybeans.

 

Have A Great Trading Day!

Thanks,Daniel Flynn

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