THURSDAY EDITION

June 4th, 2020

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Oil Market Update...
Clive Maund  Mar 14  

Oil Market Update...
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Oil Market Update - consequences of Saudi attacks...
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Oil Market Update
Clive Maund  Jul 30  

Evaluating US Nuclear Competitiveness and its Future as a Carbon–Free Clean Energy Source
Keith W. Rabin  Jul 25  

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expert analysis & newsletter briefs

NexGen Energy Ltd.

"My top pick for 2016 is NexGen Energy Ltd. . . Arrow is an emerging world-class deposit that is still in the early stages of discovery. The state—it being so early in the delineation and development process—means a lot of upside still remains. . .the company just closed a $21M financing, which means the company has enough cash to carry through 2016 and beyond." (12/23/15) - Gwen Preston, Resource Maven

NexGen Energy Ltd.

"My top pick for 2016 is NexGen Energy Ltd. . . Arrow is an emerging world-class deposit that is still in the early stages of discovery. The state—it being so early in the delineation and development process—means a lot of upside still remains. . .the company just closed a $21M financing, which means the company has enough cash to carry through 2016 and beyond." (12/23/15) - Gwen Preston, Resource Maven

Fission Uranium Corp.

"Fission Uranium Corp. announced it entered into a binding letter of intent with China's CGN Mining, a subsidiary of nuclear giant China General Nuclear Power Group, to acquire 19.99% of Fission as part of an CA$82M strategic investment, along with a potential future offtake agreement on production from Patterson Lake South (PLS). . .we urge investors to bolster positions in Fission as the deal derisks development financing, and in the interim, should fund PLS through full feasibility and permitting." (12/22/15) - David Sadowski,

Energy Fuels Inc.

"Energy Fuels Inc. is the only conventional uranium producer in the U.S. and the second-largest producer overall. It has the potential become #1, given the projects and mines it has on standby or that are close to being in development. At full ramp-up we expect the company to be able to produce 5–7 Mlb/year, in a country currently producing 4–5 Mlb/year. The U.S. consumes 55 Mlb/year, but only about 10% is supplied domestically. U.S. utilities seeking security of supply will greatly prefer U.S. producers over those from Kazakhstan, Russia or Africa. This company is well positioned to benefit from higher uranium prices. We have a Buy rating with a target price of $11.85/share." (12/22/15) - The Energy Report Interview with Rob Chang

Fission Uranium Corp.

"Fission Uranium Corp. announced it entered into a binding letter of intent with China's CGN Mining, a subsidiary of nuclear giant China General Nuclear Power Group, to acquire 19.99% of Fission as part of an CA$82M strategic investment, along with a potential future offtake agreement on production from Patterson Lake South (PLS). . .we urge investors to bolster positions in Fission as the deal derisks development financing, and in the interim, should fund PLS through full feasibility and permitting." (12/22/15) - David Sadowski,


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  Robert J. Moriarty

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The Corn & Ethanol Report

Daniel Flynn
http://www.pricegroup.com/
dflynn@pricegroup.com


The Corn & Ethanol Report 06/03/2020

Tropical Storm Cristobal Spinning in the Gulf of Mexico

Good Morning!

We start off the day with MBA Mortgage Applications and MBA 30-Year Mortgage Rate at 6:00 A.M., ADP Employment Change at 7:15 A.M., Markit Composite PMI Final and Markit Services PMI Final (May) at 8:45 A.M., Factory Orders and ISM Non-Manufacturing Index at 9:00 A.M., EIA Energy Stocks at 9:30 A.M. and Dairy Product Sales at 2:00 P.M.

On the Corn front we will be watching the path of Tropical Storm Cristobal which is forecast to move northward along the coast of Mexico and could impact this weekend the U.S. Gulf Coast from Texas to the Florida Panhandle with risk of storm surge, rainfall and wind impacts. We will no doubt be following the storms track as it makes landfall. There has been plenty of rains in the Corn Belt and if the hot weather persist this week hopefully, it will soak up a lot of existing moisture if the track will hit us head on and bring milder temperatures. And with the corn and soybeans planting progress is way ahead of last years pace and the crops are in great shape in the early going, you may see investors jump back into the long soybeans and short corn spreads. But export doubts play a critical role if this play would work again. In the overnight electronic session the July Corn is currently trading at 322 which is 2 1/4 cents lower. The trading range has been 324 1/4 to 322, and we are looking at tight trading ranges again.

On the Ethanol front the industry begins a slow recovery. Nebraska Ethanol Board Chairman Jan ten Bessel also a farmer in Cambridge, Nebraska says he is confident the ethanol industry will recover from the demand destruction caused by the coronavirus pandemic. "What were seeing today is a little bit of what agriculture would be without ethanol," tenBessel says. "But I believe this will come back, maybe slowly at first, but will come back." He says Nebraska ethanol plants that were shut down are starting back up. "As people start driving again and people getting out, those supply lines are moving again." The June ethanol expires today and there were no trades in the complex overnight. The July contract settled at 1.148 and is currently showing 1 bid @ 1.123 and 1 offer @ 1.165 with Open Interest at 114 contracts.

On the Crude Oil front we had a surprise draw which shot prices up even further yesterday. OPEC and OPEC+ are expected to meet tomorrow and are considering extending their production cuts of 9.7 million barrels per day (bpd), or about 10% of global production, into July, August or September 1st, with a meeting before to decide the next steps. Analyst at Fitch Solutions Country Risk and Industry Research (Fitch Solutions) have increased their forecast prices for Brent Crude for 2020 and beyond. In the overnight electronic session the July Crude Oil is currently trading at 3616 which is 65 points lower. The trading range has been 3818 to 3588. Don't forget the EIA Energy Stocks at 9:30 A.M.

On the Natural Gas front the talk is the next major market for U.S. LNG is Turkey which is cutting ties with Russia. We are already on the cusp to become the worlds largest LNG exporter ahead of Qatar and Australia. Bloomberg reports that Natural Gas could be the next commodity to trade negative with a glut in Europe causing them to drop prices and all of these factors weigh on cheap prices and a bad outlook for producers. Unlike, the oil market there has been no coordinated response to address the glut and the fallout could be deeper and longer. However, the market has the winds behind it's sails this morning gaining premium most likely based on Tropical Storm Cristobal. In the overnight electronic session the July Natural Gas is currently trading at 1.817 which is 4 cents higher. The trading range has been 1.822 to 1.771.

Have a Great Trading Day!



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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June 4th, 2020

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