Friday, July 23, 2021 12:13 PM EST
We started off the day with Market Composite PMI Flash (Jul), Market Manufacturing PMI Flash (Jul) and Market Services PMI Flash (Jul) at 8:45 A.M., Baker Hughes Oil & Total Rig Count at 12:00 P.M. and Cattle on Feed at 2:00 P.M.
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On the corn front, yesterday’s Export Sales number was weak. Other pressuring factors to the market was talk of rain showers in most of the Midwest. There are traders who do not believe in those forecasts. Other weather models were talking about hot and dry weather in North Dakota, South Dakota, Minnesota, Nebraska, and Iowa. In the overnight electronic session the December corn is currently trading at 560 ½ which is ¾ of a cent lower. The trading range has been 565 to 556.
On the Ethanol front, the news has been of the bipartisan bill introduced to eliminate the corn ethanol mandate. I will keep you posted on breaking news of progress of the bill. There were no trades posted in the overnight electronic session with the August contract settling at 2.320 and is currently showing no market.
Disclaimer: A Subsidiary of Price Holdings, Inc. – a Diversified Financial Services Firm. Member NIBA, NFA Past results are not necessarily indicative of future results. Investing in ...
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Disclaimer: A Subsidiary of Price Holdings, Inc. – a Diversified Financial Services Firm. Member NIBA, NFA Past results are not necessarily indicative of future results. Investing in futures can involve substantial risk of loss & is not suitable for everyone. Trading foreign exchange also involves a high degree of risk. The leverage created by trading on margin can work against you as well as for you, and losses can exceed your entire investment. Before opening an account and trading, you should seek advice from your advisors as appropriate to ensure that you understand the risks and can withstand the losses. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or futures. The Price Futures Group, its officers, directors, employees, and brokers may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. Reproduction and/or distribution of any portion of this report are strictly prohibited without the written permission of the author. Trading in futures contracts, options on futures contracts, and forward contracts is not suitable for all investors and involves substantial risks.
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