Photo by Waldemar Brandt on Unsplash

We start off the day with Consumer Inflation Expectations (Feb) and 3-Month and 6-Month Bill Auction at 9:30 A.M., and Export Inspections at 10:00 A.M.

We begin the week in the red. So much doubt with the obvious right in front of our face. We should stop the attack on oil companies and other usual suspects rounded up and reopen Anwar and Keystone Pipeline XL, American oil from American soil. This would make us energy independent and lower inflation. Now, how complex is that?

On the Corn front, it is Last Trading Day on all March grains. We closed higher on Friday but the volatility and wide swings have got us in the red starting the week. And if this mirrors the markets we have seen the last few weeks traders will ponder, when do we steam into the green? We will wait to see if we get any movement on Export Inspections this morning. Again more inflation news hits us in the pocket again because of fuel cost the cost to produce corn is rising 40% per acre. In the overnight electronic session, the may corn is currently trading at 752 ½ which is 10 cents lower. The trading range has been 767 ½ to 746 ½.

On the Ethanol front, we see politicians ride a wave to see if ethanol production could ease pain at the pump. Politicians know their certain action or missteps could cost them dearly at the mid-terms. There were no trades or open interest in ethanol futures.

On the Crude Oil front, we start the week with… You guessed it! Volatility and huge trading ranges. We started out steady higher but the floor collapsed in overnight trade. Tomorrow's API could be a Turnaround Tuesday with the API could be a game-changer. I would not be surprised if we even close higher on the day with all of this volatility. Another game-changer is Russian missiles hit a target that was 10-15 miles from the Poland border. If any NATO country gets hit that would be a huge game-changer. In the overnight electronic session, the April crude oil is currently trading at 10456 which is 477 points lower. The trading range has been 10972 to 10246.

On the Natural Gas front, the market is in the red following suit with the rest of the complex. Warmer weather forecasted could add pressure but we could see support as we brace for huge orders for global exports. In the overnight electronic session, the April natural Gas is currently trading at 4.624 which is 0.101 lower. The trading range has been 4.759 to 4.506.