Bracing For Hurricane Sally. The Corn & Ethanol Report

We started off the day with MBA Mortgage Applications (11/SEP) and MBA 30-Year Mortgage Rate (11/SEP) at 6:00 A.M., Business Inventories, and  Retail Sales at 7:30 A.M., Business Inventories MoM (JUL), NAHB Housing Market Index at 9:00 A.M., EIA Energy Stocks at 9:30 A.M., FED Interest Rate Decision and FED Economic Projections at 1:00 P.M., FED Press Conference at 1:30 P.M., Dairy Product Sales at 2:00 P.M., Overall Net Capital Flows (JUL), Foreign Bond Investment (JUL), and Net Long-Term Tic Flows(JUL) at 3:00 P.M.

On the Hurricane front, the National Hurricane Center's last update at 1:30 this morning expects Hurricane Conditions with Hurricane Warnings along the Mississippi and Alabama coastlines into the afternoon. Do not be confused, Hurricane Sally is a dangerous Category 2 and gaining strength before she hits landfall. There will be record storm surge and we will get an education on how bad that will be later in the day. Disturbance 1 has a 20% chance to form a hurricane as it meanders in the southern Gulf of Mexico and could be a 50% threat if it does not make landfall in the next five days. Hurricane Paulette is moving east-northeast at 25 knots and at the moment poses no threat to the North American coastline. However, Hurricane Teddy is moving northwest at 10 knots and the cone presently tracks him to reach Bermuda by Monday if there is no change in course. Tropical Storm Vicky is moving west-northwest at 8 knots and the cone has her dissipating into a Depression and moving southwest. This storm must still be watched. Disturbance 2 has a 50% chance of Cyclone Formation in the next 48 hours and the system is moving generally westward at 10-15 mph and still could pose a threat to the Gulf region next week, which is still a few hundred miles south-southeast of the Cabo Verde Islands. Tropical Disturbance 3 located in the far northeastern Atlantic a few hundred miles northeast of the Azores, may acquire some sub-tropical characteristics as it moves southeastward moving at 10 mph.

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