Full Moon. The Corn & Ethanol Report 11/19/2021

We started off today with NY Fed Treasury Purchases TIPS 1 to 7.5 yrs. at 9:30 A.m., Fed Waller Speech at 9:45 A.M., Fed Clarida Speech at 11:15 A.M., Baker Hughes Oil & Total Rig Count at 12:00 P.M., and Cattle on Feed at 2:00 P.M.

green-leafed plants

Image Source: Unsplash

On the Corn Front, the futures rallied early on fresh new buying from funds. The market did erase those early gains as the market will continue to need bullish news to get this party started. And that would be exports that also showed signs of life. The volatility continues the wild swings just like the Full Blood Lunar Eclipse which is keeping traders on edge. In the overnight electronic session, the December corn is currently trading at 569 which is 4 cents lower. The trading range has been 576 to 568.

On the Ethanol Front, with gas prices reaching above $3 gallon refiners are being faithful to ethanol as we are going to be in one major gas and energy crunch this winter. European Covid fears has cast a pall on today’s energy market. The ethanol futures remain quiet.

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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