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TUESDAY EDITION August 14th, 2018 |
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The Corn & Ethanol ReportDaniel Flynnhttp://www.pricegroup.com/ dflynn@pricegroup.com The Corn & Ethanol Report 08/14/18 Runaround Sue & Turnaround Tuesday Good morning! Stops were hit and the markets rebounded after the dust settled. We see a game changer after trading all the headlines or fake news. You make the call. Today we have the API Energy stocks at 3:30 P.M. On the Corn front we had the USDA report on Friday seems to contradict yesterday's Crop Progress report. Friday's data reporting a bumper crop and yesterday's data seemed to have put a temporary bottom. In the overnight electronic session the September Corn is currently trading at 358 1/4 which is 1 3/4 of a cent higher. The trading range has been 359 to 356 1/2. On the Ethanol front the September contract is currently trading at 1.355 which is .002 higher. The trading range has been 1.360 to 1.355. 7 contracts traded and the market is currently showing 1 bid @ 1.356 and 3 offers @ 1.360 with Open Interest at 1,193 contracts. On the Crude Oil front the market once again had a better comeback than Lazarus after taking a beating on Monday. The market is rolling this morning with the September contract currently trading at 6831 which is 111 points higher. The trading range has been 6835 to 6735. The basic fundamentals in this market speaks for itself. On the Natural Gas front the market is trading higher in the overnight electronic session currently trading at 2.950 which is 2 cents higher. The trading range has been 2.959 to 2.922. Exports are driving this market at the moment, but we cannot be blind to the discrepancy between the cash and futures prices. 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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TUESDAY EDITION August 14th, 2018 © 2018 321energy.com |
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Robert J. Moriarty