We started off the day with Unemployment and Wholesale Trade at 7:30 A.M., Wholesale Inventories at 9:00 A.M., NY Fed Treasury Purchases 0 to 2.25 yrs., Baker Hughes Oil & Total Rig Count at 12:00 P.M., and consumer Credit (Jun) at 2:00 P.M.

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On the Corn front, things seem eerily quiet as this market absorbed a lot of headlines weather forecasts, etc. Now that all the bearish news has been digested the report next Thursday will be push come to shove and I believe the yields will be weak and the fundamentals will kick in and I am not counting on the export market to remain slow. Once we see volume spike you may see the funds pile on and will have a sure direction in where they are going. In the overnight electronic session the December corn is currently trading at 552 ¼ which is ¾ of a cent lower. The trading range has been 553 ¾ to547 ¼.

On the Ethanol front, a new market study published by Global Industry Analysts Inc. (GIA) the premier research company, predicts the Global Ethanol Market to reach $100.3 billion by 2024. This may pick up volume in the U.S. ethanol futures markets. There were no trades posted in the overnight electronic session. The September contract settled at 2.220 and is currently showing no market with zero Open Interest at the moments.

On the Crude Oil front, oil rises 1% as Middle East tensions are rising but also in the wake of fresh restrictions imposed by countries to counter a surge in COVID-19 Delta variant that could threaten the demand recovery. In the overnight electronic session the September crude oil is currently trading at 6988 which is 79 points higher. The trading range has been 7018 to 6987.

On the Natural Gas front, Bloomberg had a story written by Anna Shiryaevskaya, Stephen Stapczynski and Ann Koh titled The ERA of Cheap Natural Gas End as Prices Surge 1,000%. Natural Gas, used to generate electricity and heat homes, was abundant and cheap during much of the last decade. A boom in supply from the U.S. to Australia, that came to a crushing halt as demand dramatically outpaced new supply. In the overnight electronic session the September natural gas is currently trading at 4.131 which is .009 lower. The trading range has been 4.171 tp 4.108.