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We kickoff the day with Building Permits (Prel), Building Permits MoM, Housing Starts and Housing Starts MoM at 7:30 A.M., Redbook YoY at 7:55 A.M., API Energy Stocks at 3:30 P.M., and International Monetary Market (IMM) Date.
On the Corn Front we traded lower yesterday on whispers of much needed rain in dry areas of Argentina. March corn futures dropped from highs made in October near 711 to a low near 635 in December on lower demand. In the overnight electronic session the March Corn is currently trading at 547 ½ which is ¼ of a cent higher. The trading range has been 648 ½ to 646 ¾.
On the Ethanol Front ethanol plants to face hard choices in 2023. Plants are under pressure outproducing demand. Cold weather forces pants to continue to run. “You can run and lose $12 million a month, or you can shut down and lose $15 million a month, said a broker familiar with logistics of running a plant. There were no trades in ethanol futures.
Have A Great Trading Day!
Dan Flynn
Questions? Ask Dan Flynn today at 312-264-4374
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Image and article originally from blog.pricegroup.com. Read the original article here.