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We kickoff the day with Consumer Inflation Expectations at 9:00 A.M., Export Inspections 10:00 A.M., 3-Month & 6-Month Bill Auction at 10:30 A.M., and Crop Progress at 3:00 P.M.
On the Corn Front harvest is mostly done but the market is still trading under pressure and the higher US dollar is not helping the export market. The Corn opened higher last night but the market is pushing lower this morning towards the lows. I expect to see a bounce in the near future. In the overnight electronic session the December corn is currently trading at 654 ½ which is 3 ½ cents lower. The trading range has been 658 ½ to 653 ¾.
On the Ethanol Front new grants support the RFA’s safety programs and education programs on=site webinars. On November 9th the EPA delivered its proposed rate to set blending obligations foe 2023 and beyond to the Office of Management and Budget. This is the final stage a proposed rate is released for public comment. 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.