We kickoff the day with NFIB Business Optimism Index at 5:00 A.M., Fed Harker Speech at 7:15A.M., UA Rade Balance, Exports, Imports, Fed Barkin Speech, Retail Sales, and Total Household Debt at 7:30A.M., Redbook YoY at 7:55 A.M., IBD/TIPP Economic Optimism and Wholesale Inventories at 9:00 A.M., 52-Week Bill Auction at 10:30 A.M., NOPA Crush at 11:00 A.M., 3-Year Note Auction at 12:00 P.M. and API Energy Socks at 3:30P.M.

Moody’s has warned of future credit rating cuts to six large US Banks the list I have so far is Bank of New York, Mellon, State Street, and Northern Trust. This could cast a pall over the marketplace today. Other news from yesterday the Manheim Used Vehicle Index for July showed further declines in the US used car prices. The Index was at 211.7 for July, down 1.6%  from June and marking the 4^th consecutive month-over-month decline. Compared to a year ago, the Index was 11.6% lower, marking the 11^th consecutive month of year-over-year declines and the 2^nd straight month of double digit declines. However, are still above pre-COVID levels, while electric vehicles are being shoved down our mouths.

On the Corn Front heavy storms and tornados ravaged parts of the South & Southeast yesterday. Central US weather is pegged to be more non-threatening following heavy precipitation over the weekend and as the Upper air pattern into mid-month supports additional shower activity across the Central Plains and parts of Iowa, Southern Illinois, Southern Indiana, Kentucky, and Tennessee. Most of the US Ag Belt benefitted, while drier areas of North Dakota, Minesota, Wisconsin, and far Northern Illinois did not. In the overnight electronic session the December corn is currently trading at 492 ¼ which is 3 ½ cents lower. The trading has been 498 ¼ to 491. Crop production USDA Supply/Demand and WASDE could have a lingering feel for traders to keep their cards close to the vest unless we have another surprise from Mother Nature. We will also keep you updated on the Moody’s-Us Credit Ratings expected cuts.

On the Ethanol Front a single drop of ethanol to revolutionize the nanosensor Manufacture. This just another reminder of the many uses of ethanol other than fuel. Macquarie University engineers have developed a new technique to make the manufacture of nanosensors far less-carbon-intensive, much cheaper, more efficient, and more versatile, subsequently improving a key process in this trillion-dollar global industry. The team has found a way to treat each sensor using a single drop of ethanol instead of the conventional process that involves heating materials to high temperatures. This story was picked up from Eurasia Review. There were no trades or open interest in ethanol futures.

Have An Excellent Trading Day!

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