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Weather Outside Been Frightful. The Corn & Ethanol Report 04/15/19


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As the snow and rains hightail it out of here we start off the shortened holiday week with Export Inspections at 10:00 A.M., NOPA Crush at 11:00 A.M. and Crop Progress at 3:00 P.M. The weather has not been conducive to keeping the soggy farmlands from any chance of drying out. We are also keeping a keen eye on developments in the ongoing negotiations with the latest talks are over anti-dumping measures on U.S. Distiller Grains. The  market is trading mainly on weather risk this morning as we start hearing news of South America’s harvest. In the overnight electronic session the May Corn is currently trading at 364 ¼ which is 3 ¼ cents higher. The trading range has been 364 ¼ to 361.

On the Ethanol front the market is currently trading at 1.337 which is .007 higher in the May contract. The trading range has been 1.337 to 1.333. 5 contracts traded and Open Interest is down to 798 contracts. The market is currently showing 2 bids @ 1.333 and 2 offers @ 1.338. Gas shortages are leading to higher prices at the pump so expect Ethanol shortages and prices to follow suit.

On the Crude Oil front we are hearing whispers that OPEC may increase production which is pressuring the market early and taking the winds out of the sails that ran the market last week. In the overnight electronic session the May Crude Oil is currently trading at 6361 which is 28 points lower. The trading range has been 6384 to 6314. Keep in mind that Tuesday afternoon and Wednesday’s report on Energy stocks could have a big impact as we have a short week in observance of Good Friday.

On the Natural gas front the bears continue to hold the bulls by the horns even with a lot of profit taking early last week. In the overnight electronic session the May Natural Gas is currently trading at 2.610 which is 5 cents lower. The trading range has been 2.653 to 2.602.

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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