WEDNESDAY EDITION

September 23rd, 2020

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Oil Market Update - consequences of Saudi attacks...
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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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The Corn & Ethanol Report

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


Energy Prices May Rise ? The Corn & Ethanol Report 09/23/2020



We start off the day with MBA Mortgage Applications (18/SEP), MBA 30-Year Mortgage Rate (18/SEP) at 6:00 A.M., Fed Mester Speech, House Price Index MoM & YoY (JUL) at 8:00 A.M., Market Composite PMI Flash (SEP), Market Manufacturing PMI Flash (SEP) and Market Services PMI Flash (SEP) at 8:45 A.M., Fed Chair Powell Testimony 9:00 A.M., EIA Energy Stocks at 9:30 A.M., Fed Evans Speech at 10:00 A.M., 5-Year Note Auction and 2-Year FRN Auction at 12:00 P.M., Fed Quarles Speech at 1:00 P.M., and Dairy Product Sales at 2:00 P.M.

On the Hurricane Front Tropical Storm Beta is breaking up as she has made landfall on the Texas coastline moving east-northeast. Post Tropical Cyclone Teddy is headed toward Nova Scotia, causing destructive waves, Strong Winds and Heavy Rainfall today. And for the first time in weeks I Can say, that is all on my radar screen or the National Hurricane Center. Now let's hope our First Responders fighting the fires in the North-West can catch a breath.

On the Corn front the market suffered through Monday's selloff in the Stock & Commodity sector as rumors swirled around about Large banks money moving schemes that had the funds re-jockeying for position and covering their long grain position moving into other commodity sectors. You still have to understand that farmers are reluctant to sell at these levels, and more crop sales to China on the horizon, and lower U.S. crop size, has been supportive, and we may see new buyers appear. In the overnight electronic session the December corn is currently trading at 366 1/4 which is 3 cents lower. The trading range has been 370 1/4 to 366 1/4.

On the Ethanol Front the industry is moving even after the EPA data released showing 1.58 billion renewable identification numbers (RIN's) were generated under the Renewable Fuel Standard in August which was down 1.65 billion in 2019. The use in this product uses in other avenues has made this pandemic commodity become revolutionary. Who would off thought, people actually wash their hands? In the overnight electronic session, there were no trades posted with the October contract settlement price of 1.325 and the market currently showing 1 bid @ 1.25 with 0 offers and Open Interest at 39 contracts.

On the Crude Oil Front yesterday's bullish API number had the market wince and had the attitude it could not catch a cold even if the ball hit him in the numbers. I believe the market is looking ahead down the road for the First winter with COVID-19, ( that we know?) Storm activity in the Gulf of Mexico is now the most minimal it has been in weeks, so that may take off risk premium for the moment. In the overnight electronic session, the November Crude Oil is currently trading at 3995 which is 15 points higher. The trading range has been 4015 to 3926. This should be an interesting EIA number this morning!

On the Natural Gas front the market slid into an outside day with cooler weather forecasted across the Mid-West only making shoulder season realized. The market is bouncing back from the throws of an oversold market. The October spot contract is currently trading at 1.988 which is .156 higher. The trading range has been 1.994 to 1.815. While deferred months are lagging but following the pace with the November contract trading at 2.692 which is .095 higher. The trading range has been 2.701 to 2.518.

Have A Great Trading Day!



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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.

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September 23rd, 2020

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