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Busy Report Day. The Corn & Ethanol Report 11/15/17


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We start off the day with Business Inventories, CPI, Real Earnings and Retail Sales at 7:30 A.M., EIA Energy Stocks at 9:30 A.M., NOPA Crush at 11:00 A.M. and Dairy Product Sales at 2:00 P.M. Last Trading Day on November Lumber, Palm Oil, Russian Ruble, Short Sterling and London White Sugar. Last Trading Day Options with November Australian Bonds, Russian Ruble and December (ICE) WTI Crude Oil, New York Crude Light, N.Y. Platinum, Palladium and Sugar #11.

On the Corn front harvest is being slowed by wet weather across the plains and Mid-West with winter like storms approaching from the west and north. The yields we have witnessed so far see no recovery after harvest Thanksgiving rally. In the overnight electronic session the December Corn is currently trading at 338 ¾ which is a ¼ of a cent higher. Yes I said higher. The trading range has been 338 ½ to 337. We have a lot off carryover to breakdown and make Ethanol to export.

Speaking of Ethanol, “All is quiet on the Western front”, with no trades posted in the overnight electronic session. The December contract settled at 1.405 with the market currently showing 2 bids @ 1.392 and 1 offer @ 1.407 with declining Open Interest at 1,193 contracts.

On the Crude Oil front the International Energy Agency (IEA) released a statement that demand was coming to a halt with the global economies. Amazing statement when I see many counties GDP growing by leaps and bounds and another amazing thing is the IEA represents consuming Oil counties that import and not producing counties that export. This is not the first time such an outlandish statement came from this International Agency that I can only guess who governs but there is a pattern when they release this news that in reality turns out to be false. This morning we have the U.S. Energy Information Administration (EIA) release their version of weekly Energy Stocks which may counter the IEA that OPEC production cuts are working and the market is getting back in balance. In the overnight electronic session the December Crude Oil is currently trading at 5515 which is 55 points lower. The trading range has been 5526 to 5497.

On the Natural Gas front changing weather forecasts has the market inching higher but trading a weather market with a U.S. model and a European model leads to sharp sell-off after forecast were changed to warmer from colder, and those forecasts did not become reality. In the overnight electronic session the December Natural Gas is currently trading at 3.127 which is 2 ½ cents higher. The trading range has been 3.134 to 3.069.

Have a Great Trading Day!
Dan Flynn
Questions? Ask Dan Flynn today at 312-264-4374

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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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