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Market Down On Chinese Data. The Corn & Ethanol Report 01/14/19


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The market is down as more Chinese data had investors heading for the exit as macro-economic data is the key on this Monday morning even though there are positive signs of trade relations between the U.S. and China are on the upswing and emerging markets such as India and Viet Nam are ready to move forward on their infrastructure. This is really a positive to the U.S.-Sino trade talks and a positive sign for jobs and growth which could be a good time to buy value. On the Corn front the market is holding its own as the grain complex dropped on the import/export news from China. And investors are weighing the fears of a long U.S. government shutdown moving to-day 24 as House Speaker Nancy Pelosi unwilling to negotiate border security even after an olive branch was offered to open the government for 3 weeks to negotiate a deal and her was open the government but there will be no wall. This amazes me after a law enforcement official was killed in her home state after making a traffic stop, and she shows no sign to negotiate the obvious while her constituents were celebrating the government shutdown partying Puerto Rico. What a sad joke. We should be hearing more positives in the trade talks with China and the government shutdown should take a back seat as we move forward with legitimate negotiations. Free Markets for Free Men. In the overnight electronic session the March Corn is currently trading at 378 ½ which is a ¼ of a cent higher. The trading range has been 379 ½ to 377 ¼.

On the Ethanol front the February contract is currently trading at 1.288 which is .001 higher. The trading range has been 1.293 to 1.288. 38 contracts traded and Open Interest is dropping to 1,793 contracts. The market is currently showing 2 bids @ 1.285 and 3 offers @ 1.291.

On the Crude Oil front the news from China took this market out of the green as well. I do believe in the grand scheme of things we could close higher at the end of today’s trading session. There is just too much bullish fundamental news out there to be denied. In the overnight electronic session the February Crude Oil is currently trading at 5129 which is 40 points lower. The trading range has been 5211 to 5043.

On the Natural Gas front the song change in the weather comes to mind. Weather forecasters are now calling for a polar vortex after this weekend’s winter wonderland. I will not fight the weather forecasts in this market this year and investors are buying into the news as well. In the overnight electronic session the February Natural Gas is currently trading at 3.509 which is 40 cents higher. The trading range has been 3.510 to 3.281.

Have a Great Trading Day!
Dan Flynn

 

 



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About the author


Mr. Daniel Flynn is a trader and analyst with a strong background in the fundamental and technical analysis of Grain and Energy markets.

He started his career in the summer of 1981 as a runner on the Chicago Mercantile Exchange floor, shortly after graduating from Leo High School in Chicago. He learned the futures and options business from the ground up and has proved his commitment and ability to the industry ever since.

Dan's daily newsletter, The Corn & Ethanol Report, gives a unique insight and perspective into these market sectors, covering various global issues that are the driving force and backbone of the commodity markets. Dan is regularly interviewed by global media outlets on his insights and forecasts.

Dan provides his customers with not only a thorough understanding of the markets and the issues surrounding them, but also how to approach daily risk management in the markets they trade.

Contact Daniel Flynn: (800) 769-7021 or at dflynn@pricegroup.com

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