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76 Years Ago Today A Day That Will Live in Infamy. The Corn & Ethanol Report 12/07/17


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The Dan Flynn Corn & Ethanol Report Yes it was 76 years ago we got our education we were going to enter the Great World War II due to the sneak attack on Pearl Harbor. It was 86 years plus that a Democratic congressman from Georgia, Carl Vinson had the vision of a fascist Germany and Japan posed existential threats to the United States and politicised to build a two-ocean Navy as he had the foresight we would be fighting a war on two fronts, even though we are separated by oceans Atlantic and Pacific.

On the Grain front the market really took it on the nose in yesterday’s trading session. Any rally for a couple of days is wrought with selling. This morning we have Export Sales and transports to the west may be more difficult with the Wild Fires burning out of control in Southern California. In the overnight electronic session the March Corn is currently trading at 352 ¼ which is ½ of a cent lower. The trading range has been 353 ½ to 351 ¾.

On the Ethanol front there were no trades posted in the overnight electronic session. The market settled at 1.317 and is currently showing 1 bid @ 1.318 and 2 offers @ 1.327 with Open Interest hovering around 1,328 contracts.

On the Crude Oil front the market is trading a little higher in the overnight electronic session after being pummeled like the Grains in yesterday’s action. Traders may have overdone it with lighter holiday volume and we could chart a course for higher prices again. The January contract is currently trading at 5614 which 18 tics higher. The trading range has been 5630 to 5582.

On the Natural Gas front the cold weather is not dampening the bears spirits as the January contract is currently trading at 2.842 which is 8 cents lower. The trading range has been 2.922 to 2.810. Last year I expected the market to rally to $6 or $6.5 however we had no cold in January or February. This year even if we do get a polar vortex I see us topping at 44 to $4.5. We also have the weekly EIA Gas Storage and analyst predictions are all over the board with injection builds of 3 bcf to draws of 25 bcf with 1 analyst expecting a draw as high as 66 bcf. The average is a draw of 7 bcf which compares to the 1 week draw of 32 bcf, the 1- year at 43 bcf and the five-year average of 69 bcf.

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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