Busy Two Days Ahead. The Corn & Ethanol Report

On the Crude Oil Front Canada is seeing record job losses in the oil and gas sector. 37% of oil and gas companies have resorted to permanent layoffs due to the pandemic-driven oil price and oil demand slump. As Venezuela’s regime has recently arrested oil workers or retired oil workers who have dared to expose the corruption and mismanagement at its state oil firm PDVSA and its dire financial, operational, and working conditions. In a country holding the world’s biggest oil reserves, and they cannot keep a refinery running? Sounds like that country in Seattle, Chaz. Nicolas Maduro is clinging to power in this once rich and vast land of opportunity. The socialist moved in and now a country with enterprising dreams is now called a socialist regime and I pray to God it will never the word regime will never be applied to the United States of America. Venezuelans are stealing crude oil to process at home. This is a sad state of affairs. But once again proves socialism is a bad thing and not a good thing which invites more corruption and seizure of the people's Liberty.

It is consistent in stealing the God-given wealth of a nation and now Venezuela is referred to as a regime. In the overnight electronic session, the January crude oil is currently trading at 4347 which is 41 points higher. The trading range has been 4374 to 4282.

O the Natural Gas front, colder weather expected in the south, and demand rose the last week is supporting prices. Medium-Term Momentum is negative to neutral as the fast stochastic is printing redpointing to consolidation. We will see demand rise to heat buildings in the residential and commercial sector. We will have the EIA Gas Storage tomorrow at 11:00 A.M. a day early with the Thanksgiving holiday on Thursday. Also, worth noting the December contract expires tomorrow, if your margin clerk has not made you rollover already there is no more perfect time than the present. In the overnight electronic session the January natural gas is currently trading at 2.852n which is .029 higher. The trading range has been 2.855 to 2.800.

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