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We kickoff the day with NAHB Housing Market Index at 9:00 A.M., Export Inspections at 10:00 A.M., 3-Month & 6-Month Bill Auction at 10:30 A.M., Milk Production at 2:00 P.M., Crop Production, Net Long-term TIC Flows, and Foreign Bond Investment at 3:00 P.M.

On the Corn front, the Commitment of Traders report showed a liquidation across the grain complex, while funds did not keep their powder dry selling 41,000 contracts of corn and were big sellers in the grain complex while being buyers in the livestock contracts. The market is still below fair market value but we do not see the weak and cheaper prices at the grocery store. In the overnight electronic session, the December corn is currently at 490 which is a ½ of a cent lower. The trading range has been 492 ½ to 489.

On the Ethanol front, the EIA increased its forecast for 2023 fuel ethanol in last week's report. The forecast for 2024 fuel ethanol production was revised down. The agency maintained its forecast for 2023 fuel ethanol blending but reduced blending for the forecast for next year. There were no trades or open interest in ethanol futures.

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