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
Karen Braun with Thomson Reuters reports that the recent meeting with President Donald Trump and President Xi Jinping seems to have gone better than expected. The White House announced over the weekend the Beijing agreed to buy an unspecified but: very substantial: amount of U.S. commodities and that would be agricultural goods would start “immediately”. This will spill over into Fed Grains and Pork products. We do have Export Inspections at 10:00 A.M. On the Corn front the March contract is currently trading at 384 which is 1 ½ of a cent lower. The trading range has been 385 to
On the Ethanol front the January contract is currently trading at 1.284 which is unchanged. The trading range has been 1.238 to 1.237. The market is currently showing 2 bids @ 1.237 and 1 offer @ 1.238 with 3 contracts traded and Open Interest at 1,880.
On the crude Oil front the market is selling off on no bearish news that I have seen. It could be the computers trying another stall tactic with strong fundamentals leaning to the bullish side of the market. In the overnight electronic session the January contract is currently trading at 5158 which is 103 points lower. The trading range has been 5281 to 5151.
On the Natural Gas front were trading lower on weather forecast predicting a warm-up if you can believe them. In the overnight electronic session the January contract is currently trading at 4.428 which is 6 cents lower. The trading range has been 4.663 to 4.390.
Have a Great Trading Day!