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We kickoff the day with the eleventh hour, eleventh day and eleventh month that hostilities in WW 1 ceased. What a perfect way to honor all of our veterans and thank them for their service to our country.
Today’s reports start with Michigan Consumer Sentiment Prel (Nov), Michigan 5-Year Inflation Expectations Prel (Nov), Michigan Consumer Expectations Prel (Nov), Michigan Current Conditions Prel (Nov), and Michigan Inflation Expectations Prel (Nov) at 9:00 A.M. and Baker Hughes Oil & Total Rig Count at 12:00 P.M.
On the Corn Front yesterday’s CPI surprised the markets even though the good news if you can call it will be short lived. Export Sales crashed the party and we are looking at South America’s corn crop to be up 13.5 mmt versus last year. Today there will be a meeting in Geneva about the Ukraine corridor for their exports. The muddy waters may clear after the G20 meeting next week. This meeting will set a path to opening the Ukraine corridor an Russian sanctions. In the overnight electronic session the December corn is currently trading at 658 which is 4 ¾ cents higher. The trading range has been 661 to 653 ½.
On the Ethanol Front we will have an even stronger cash market as we conserve and ration energy as supplies are slim pickens heading into winter. I never thought about this a few years back. With the moving cash market the ethanol futures remain dormant.
God Bless Our VETERANS !
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.