Bracing For Sally. The Corn & Ethanol Report

We started off the day with Consumer Inflation Expectations (AUG) and Export Inspections at 10:00 A.M., 3-Month and 6-Month Bill Auction at 10:30 A.M., and Crop Progress at 3:00 P.M.

On the Hurricane front Tropical Storm, Sally is still too early where she will strike but landfall with dangerous life-threatening storm surge has warnings from Louisiana, Mississippi, Alabama and Florida coast up into the Panhandle. This storm is no different, being very tricky when and where she will strike. One thing is for sure there will be maritime disruptions and flash flooding in the Gulf coast states. Disturbance 1 is moving slowly southwestward over the western Gulf of Mexico and presently looks to make landfall on the Mexico coast in the coming days. Hurricane Paulette is moving west-northwest with the cone shifting and her back out into the Atlantic missing the U.S. coastline, Let’s hope. Tropical Depression Rene is moving west at 3 knots and it is still to early to predict the threats that this storm could pose. Tropical Storm teddy is moving west-northwest at 12 knots and the current cone has that storm moving north to Bermuda later this week. Depression 21 off the coast of Africa current cone has it a possible risk to the Gulf region, we will have more information later this week, tracking this storm And another Tropical Wave near the west coast of Africa is slowly developing and we will have it’s path information later today or tomorrow.

On the corn front, Today is Last Trading Day on all September Grains. The USDA report on Friday showed U.S. corn stocks down more than a billion and a ½ bushels from August, but over 7 billion bushels from a year ago. World Ending Stocks were 306.8 (MMT) versus August 317.5 (MMT) and last year was pegged at 311.3 (MMT). U.S. corn production was 14.9 billion bushels versus August 15.28 (bb), while U.S. yield was pegged at 178.5 bushels per acre versus August 181.8 (bpa) In the overnight electronic session the December corn is currently trading at 370 which is 1 ½ of a cent higher. The trading range has been 371 to 368 ½.

1 2
View single page >> |

Disclosure: None

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.