Hot Weather Ahead. The Corn & Ethanol Report
We start of the day with Business Inventories, Retail Sales MoM (Jun), Retail Sales ex Autos MoM (Jun)at 7:30 A.M., Michigan Inflation Expectations Prel Prel(Jul), Michigan Consumer Expectations Prel (Jul), Michigan Consumer Sentiment Prel (Jul) and Michigan Current Conditions Prel (Jul) at 9:00 A.M., Baker Hughes Oil and Total Rig Count at 12:00 P.M. Overall Net Capital Flows (May), Foreign Bond Investment (May) and Net Long-Term Tic flows at 3:00 P.M.
Image by Free-Photos from Pixabay
On the Corn front, the market looks to be buying into the forecasted hot weather market which is jump-starting a rally with other bullish fundamental news will drive this market with acreage, yields, Weather, crop condition and exports. That is the key to the ignition to get this market rolling again. In the overnight electronic session the December corn is currently trading at 563 ½ which is 7 ¼ cents higher. The trading range has been 564 to 551 ¼.
On the Ethanol front, heavy hitters in the ethanol industry were meeting in Iowa as the industry is going on offense to pitch E15 and showing an influential political force. While pitch low carbon and the good ethanol does for the consumer, the farmer and the environment.
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