More Corn & Soybean Sales Expected & Vaccine News Getting Better. The Corn & Ethanol Report

On the Ethanol front, MarketWatch gave a press release for Ethyl Alcohol (Ethanol) market trend with top countries data 2020 industry trends, share, size, demand, growth opportunities, industry revenue, future business analysis by forecast 2024. The report focuses on the global market especially in the U.S., Europe, China, Japan, South Korea, North America, and India. This should map out the road of what to expect in this growing industry the next few years. There were no trades posted in the overnight electronic session. The December contract settled at 1.390 and is currently showing 2 bids @ 1.320 and 0 offers resting with Open Interest at 32 contracts.

On the Crude Oil front, the market moved higher after starting close to unchanged in last night’s action. But as more positive vaccine news started the markets in drive again. And it was a reminder to investors that Joe Biden said we must endure a Dark Winter. Well, if the vaccines pay off Americans will not be locked down and will be going mobile which will be awesome for many industries across the board. As in our history of being a Great Nation American’s always seemed to find a way to rise to the occasion. Other good sentiment in the market was whispers OPEC and OPEC+ will keep crude output in check. In the overnight electronic session, the January crude oil is currently trading at 4291 which is 49 points higher. The trading range has been4336 to 4229.

On the Natural Gas front, a Utility’s application for natural gas infrastructure repairs was approved. The Michigan Public Services Commission approved Consumer’s Energy’s to build a wider natural gas pipeline. The new Mid-Michigan Pipeline will be 36-inch (91-centimeter) and would replace an existing, 20-inch (50-centimeter) line between Ovid. North of Lansing and Chelsea, west of Ann Arbor. It is expected from 2023 to 2024 at an estimated cost of $550 million. The Jackson-based utility said the existing line is over 70 years old and replacing it would increase the overall system resilience and remove a gas-supply bottleneck in the smaller pipeline. In the overnight electronic session, the December natural gas is currently trading at 2.696 which is .046 higher. The trading range has been 2.723 to 2.677.

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