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MONDAY EDITION September 20th, 2021 |
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The Corn & Ethanol ReportDaniel Flynnhttp://www.pricegroup.com/ dflynn@pricegroup.com Harvest Rally? The Corn & Ethanol Report 09/17/2021 We start off the day with Michigan Consumer Expectations Prel m(Sep), Michigan 5-Year Inflation Expectations Prel (Sep), Michigan Consumer Sentiment Prel (Sep), Michigan Inflation Expectations Prel (Sep) and Michigan Current Conditions Prel (Sep) at 9:00 A.M., NY Fed Treasury Purchases TIPS 1 to 7.5 yrs. at 9:30 A.M. and Baker Hughes Oil and Total Rig Count at 12:00 P.M. On the Hurricane Front remnants from Nicholas are moving north over Louisiana at 7 mph. Disturbance 2 located 150 miles east of Cape Hatteras, North Carolina remains long and elongated and has a high chance of formation 70% in the next 48 hrs., Disturbance 1 is a tropical wave and broad area of low pressure located midway between the Lesser Antilles and Cabo Verde Islands. We will be watching this one closely as the conditions are high 70% of formation in five-days and could pose a major threat to the Gulf region. Disturbance 3 is forming off the coast of Africa with formation chance low at 10% in the next 48 hrs. On the Corn Front the market has consolidated after gains this week while watching and waiting on harvest news and clues to Chinese demand. In the overnight electronic session, the December corn is currently trading at 523 which is 6 1/2 cents lower. The trading range has been 530 1/2 to 522 3/4. On the Ethanol Front the Brazilian sugarcane industry association has announced that the production of anhydrous ethanol by mills in the south-central region of the country was up significantly in the second half of August. According to UNICA, mills in the region processed 43.13 million metric tons of sugarcane which is up 2% from a year ago. Brazil is swinging to export more ethanol and become a bigger player in the market. A Subsidiary of Price Holdings, Inc. - an Employee Owned Diversified Financial Services Firm. Orders must be entered via direct verbal communication with a representative of our firm. We cannot be held responsible for orders left in any other manner. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. Investing in futures can involve substantial risk & is not for everyone. Trading foreign exchange also involves a high degree of risk. The leverage created by trading data-on margin can work against you as well as for you, and losses can exceed your entire investment. Before opening an account and trading, you should seek advice from your advisors as appropriate to ensure that you understand the risks and can withstand the losses. Member NIBA, NFA. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or futures. The PRICE Futures Group, its officers, directors, employees, and brokers may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. Reproduction and/or distribution of any portion of this report are strictly prohibited without the written permission of the author. Contact Dan at (888) 264-5665 or dflynn@pricegroup.com. |
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Robert J. Moriarty