Fed And BOJ Print Money. The Corn & Ethanol Report

We are seeing central banks starting to lead a charge with fiscal stimulus which propelled the S&P500, Dow Jones and Nasdaq to limit up moves. There is also talk on the street that the Fed will cut a full basis point at the March 18th meeting.

On the Grain front, today is the Last Trading Day on all March contracts. After Tuesday’s WASDE report showed Corn and Soybean outlook is mostly unchanged and selling took over with fears of coronavirus demand destruction. In the overnight electronic session the May Corn is currently trading at 370 ¾ which is 5 cents higher. The trading range has been 371 ¼ to 370 ¾.

On the Ethanol front, we do expect an upswing in prices with hand sanitizer demand going through the roof. In the overnight electronic session the April contract posted a trade at 1.181 which is unchanged. The market is currently showing 1 bid @ 1.150 and 1 offer @ 1.196 with 1 contract passing hands and Open Interest dropping to 286 contracts.

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