Photo by Waldemar Brandt on Unsplash

We kick off the day with Durable Goods Orders MoM (May), Durable Goods Orders Ex Transportation MoM (May), Non-Defense Goods Orders Ex Air and durable Goods ex Defense MoM (May) at 7:30 A.M., Pending Home Sales MoM & YoY May at 8:00 A.M., Dallas Fed Manufacturing Index (Jun) at 9:30 A.M., Export Inspections at 10:00 A.M3-Month & 6-Month Bill Auction at 10:30 A.M., and the 5-Year Note Auction at 12:00 P.M.

On the Corn front, investors cool on corn, wheat, and soybeans, as the futures fell on recession fears and chatter about a potential opening of the Black Sea export corridor. I do not believe this will happen, however, the market is not discounting the Ukraine news. Taiwan Feed Makers MFIG and the Flour Millers Association issued buy tenders for corn and wheat to be shipped between August-September trade sources told Agricensus  Monday. Also, Brazil’s center-south second corn crop safrinha harvest is 20.3 % complete as of Thursday. In the overnight electronic session, the July Corn is currently trading at 743 ¾ which is 6 ½ cents lower. The trading range has been 746 ¼ to 733.

On the Ethanol front, the Minnesota Bio-Fuels Association (MN Bio-Fuels) and KS95 FM rewarded drivers who fueled up with E15 last Thursday during an hour-long an hour-long promotion. From 12:00 P.M. to 1:00 P.M., drivers who fueled up with E15 at the Highland Service Minnoco station in St. Paul such $20 in cash, tickets to the St. Paul Saints, and gift cards to Applebees and KS95 merchandise. There were no trades in ethanol futures.

Have A Great Trading Day!