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
S&P Global Composite PMI Final and S&P Global Services PMI Final at 8:45 A.M., ISM Services PMI, ISM Business Activity, ISM Services Employment, ISM Services New Orders, and ISM Services Prices at 9:00 A.M., Export Inspections at 10:00 A.M., 3-Month & 6-Month Bill Auction at 10:30 A.M., 3-Year Note Auction at 12:00 P.M., and Crop Progress at 3:00 P.M.
The non-farm payroll data for April showed the US economy added 177,000 jobs, down 8,000 from March but beating expectations 130,000 jobs, and above the 12-month average of 152,000. Healthcare added 51,000 jobs, transportation and warehousing added 29,000, financial services added 14,000 jobs and social assistance jobs increased by 8,000. Federal government jobs declined by just 9,000 jobs. The household durvey showed the US unemployment was unchanged from March at 4.25. However, the more important U-6 employment rate, which includes marginally attached workers forced to work part-time for economic reasons, declined for the 2nd month to 7.8%. Average hourly earnings were up 3.8% from a year ago at $36.06/hour, while the labor participation rate rose to a 7-month high of 62.6%. The Average Work Week was unchanged at 34.3 hours.
The USDA May Crop report is just a week away and position squaring will be featured this week. Manage money is short near record amount of US wheat and will want to cover a portion of their positions before the report. And selling December is expected based on large US corn seeding and a balloon 2025/26 US corn end stocks above 2,000 Mil Bu. Expect a choppy week of trade with focus on next Monday’s USDA report and North American weather.
Expect A Week of Position Squaring Before USDA. The Corn & Ethanol Report 05/05/2025
S&P Global Composite PMI Final and S&P Global Services PMI Final at 8:45 A.M., ISM Services PMI, ISM Business Activity, ISM Services Employment, ISM Services New Orders, and ISM Services Prices at 9:00 A.M., Export Inspections at 10:00 A.M., 3-Month & 6-Month Bill Auction at 10:30 A.M., 3-Year Note Auction at 12:00 P.M., and Crop Progress at 3:00 P.M.
The non-farm payroll data for April showed the US economy added 177,000 jobs, down 8,000 from March but beating expectations 130,000 jobs, and above the 12-month average of 152,000. Healthcare added 51,000 jobs, transportation and warehousing added 29,000, financial services added 14,000 jobs and social assistance jobs increased by 8,000. Federal government jobs declined by just 9,000 jobs. The household durvey showed the US unemployment was unchanged from March at 4.25. However, the more important U-6 employment rate, which includes marginally attached workers forced to work part-time for economic reasons, declined for the 2nd month to 7.8%. Average hourly earnings were up 3.8% from a year ago at $36.06/hour, while the labor participation rate rose to a 7-month high of 62.6%. The Average Work Week was unchanged at 34.3 hours.
The USDA May Crop report is just a week away and position squaring will be featured this week. Manage money is short near record amount of US wheat and will want to cover a portion of their positions before the report. And selling December is expected based on large US corn seeding and a balloon 2025/26 US corn end stocks above 2,000 Mil Bu. Expect a choppy week of trade with focus on next Monday’s USDA report and North American weather.
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Contact me directly with any questions at 1-888-264-5668 or dflynn@pricegroup.com
Thanks,
Dan Flynn
Questions? Ask Dan Flynn today at 312-264-4374