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FED Decision Today. The Corn & Ethanol Report 09/18/19


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We kickoff the day with Housing Starts & Permits at 7:30 A.M., EIA Energy Stocks at 9:30 A.M., Dairy Product Sales at 2:00 P.M. and the much-anticipated FED announcement at 1:00 P.M. On the Corn front, Mondays Crop condition report was unchanged from the previous week. This cause bears to further pile on and the market settled 6 ¼ cents lower in yesterday’s action. Better weather forecasts are also factoring in making the market heavy. In the overnight electronic session the December Corn is currently trading at 367 which is 1 cent lower. The trading range has been 370 to 367.

On the Ethanol front, we have a tug of war between Corn farmers and Oil refineries. Senator Chuck Grassley wants President Trump’s ethanol fix put on paper before he would support it. There were no trades in the overnight electronic session. The October contract settled at 1.378 and is currently showing 1 bid @ 1.366 and 1 offer @ 1.381 with Open Interest declining to 275 contracts.

On the Crude Oil front, we are trading headline after breaking headlines. The Saudi’s are expected to have a press conference at 9:00 A.M. with proof of where the drones came from and who the culprit was. The question is… What response if any may come into play? Other factors will be the EIA Energy report at 9:30 A.M., and I am hearing whispers of another build on this report. And we have the FED announcement that could be a game changer and put a bullish spin back in the market. In the overnight electronic session the October Crude Oil is currently trading at 5840 which is 94 points lower. The trading range has been 5943 to 5825.

On the Natural Gas front, the October contract is currently trading at 2.688 which is 2 cents higher. The trading range has been 2.696 to 2.647. Market is trading quiet in shoulder season.

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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