Monday, January 24, 2022 11:54 AM EDT
We started off the day with Chicago Fed National Activity Index (Dec) at 7:30 A.M., Markit Composite PMI Flash (Jan), Markit Manufacturing PMI Flash (Jan) and Markit Services PMI Flash (Jan) at 8:45 A.M., Export Inspections at 10:00 A.M., 3-Month & 6_Month Bill Auction at 10:30 A.M., 2-Year Note Auction at 12:00 P.M., Cold Storage and Milk Production at 2:00 P.M.
Image Source: Unsplash
On the Corn front, the futures ended up higher in Friday’s action. Technicians were happy to see trade above 617. Last night’s continuation rally could not be sustained and the market has turned weak. Rumors are hot that China may purchase 1 mmt of US new crop corn as a good gesture in Phase 2 of the Trade Talks. In the overnight electronic session, the March corn is currently trading at 610 ¾ which is 5 ½ cents lower The trading range has been 619 ½ to 610 ¾.
On the Ethanol front, ethanol production was up 4% from last month and 11% from last year. We should see an intensifying cash market as orders are in flow but once again we have no trade or open interest in ethanol futures.
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 ...
more
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 futures can involve substantial risk of loss & is not suitable for everyone. Trading foreign exchange also involves a high degree of risk. The leverage created by trading on margin can work against you as well as for you, and losses can exceed your entire investment. Before opening an account and trading, you should seek advice from your advisors as appropriate to ensure that you understand the risks and can withstand the losses. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or futures. The Price Futures Group, its officers, directors, employees, and brokers may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. Reproduction and/or distribution of any portion of this report are strictly prohibited without the written permission of the author. Trading in futures contracts, options on futures contracts, and forward contracts is not suitable for all investors and involves substantial risks.
less
How did you like this article? Let us know so we can better customize your reading experience.