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WEDNESDAY EDITION April 25th, 2018 |
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The Corn & Ethanol ReportDaniel Flynnhttp://www.pricegroup.com/ dflynn@pricegroup.com The Corn & Ethanol Report 04/25/18 Happy Anzac Day Australia Good Morning! We have a whole slew of Earnings already out today and more released during the day and after the close. It will be interesting to see Chicago based Boeing's earnings will be. We also have EIA Energy Stocks at 9:30 A.M. and Dairy Product Sales at 2:00 P.M. On the Corn front the May contract is currently trading at 382 3/3 which is 1 1/2 of a cent higher in the overnight electronic session. The trading range has been 383 to 380 1/2. Even though we are trading higher at the moment I would not write too much in a rally unless it is a technical rally and weather is allegedly going to warm up and farmers will work at a fevers pitch to get crops planted. Although I believe the Corn has the most to offer in the complex we will need to get hot and dry weather later which will give the crop a double-whammy and prices should fly. On the Ethanol front there were no trades posted in the overnight session. The June contract is currently showing 1 bid @ 1.459 and 1 offer @ 1.470 with climbing Open Interest at 770 contracts. On the Crude Oil front last night's API showed builds on Crude of 1.099 million barrels, draws on Gasoline at 2.724 million barrels, Distillates down 1.911 million and Cushing down 970 thousand barrels. In the overnight electronic session the June Crude Oil was not able to punch through $68 a barrel retreating while waiting for the EIA Energy Stocks data. Will still have plenty a bullish fundamentals in play. In the overnight electronic session the June Crude Oil is currently trading at 6764 which is 6 tics lower. The trading range has been 6799 to 6745. On the Natural Gas front it is Option Expiration Day for the May contract and Last Trading Day tomorrow. So we will focus on the June contract which in the overnight electronic session is currently trading at 2.814 which is unchanged. The trading range has been 2.825 to 2.812. The futures continue to trade premium to the cash market leaving investors and producers scratching their heads. 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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WEDNESDAY EDITION April 25th, 2018 © 2018 321energy.com |
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Robert J. Moriarty