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We kickoff the day with MBA Mortgage Market Index, MBA Mortgage Refinance Index, MBA Purchase Index and MBA Mortgage Applications at 6:00 A.M., EIA Energy Stocks at 9:30 A.M., 17-Week Bill Auction and 10-Year Note Auction at 12:00 P.M.
On the Corn Front the market held support near last week’s low and the market had a turnaround Tuesday and the market is trying to gather more legs. The March corn is currently trading at 655 ¼ which is a ¼ of a cent higher. The trading range has been 659 to 652 ¾. Meanwhile, Illinois Corn Growers are meeting with new lawmakers in D.C. Illinois has 4 new members of Congress establishing a relationship is important for ag policy this year. A very important step as ethanol producers are still feeling the pain to keep operations afloat. The objective for the corn growers is to show growth in revenue. Ethanol will remain a hot topic in these talks for this year and 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.