Photo by Jeff W on Unsplash

We start off the day with PPI MoM & YoY (Feb), NY Empire Manufacturing Index (Mar) and Core PPI MoM & YoY at 7:30 A.M., Redbook YoY (12/Mar)at 7:55 A.M.,NOPA Crush 11:00 A.M., Net Long-Term TIC Flows (Jan), Overall Net Capital Flows (Jan( and Foreign Bond Investment (Jan) at 2:00) P.M. API Energy Stocks at 3:30 P.M. and FOMC Meeting.

On the Corn Front the war in the Ukraine is taking center stage as their exports will be reduced. China may reduce imports on fears Covid cases may slow down their economy. The corn market and the grain complex is taking a further beating. In the overnight electronic session, the May corn is currently trading at 739 ½ which is 8 ¾ cents lower. The trading range has been 746 ¾ to 736 ½.

On the Ethanol Front no really new headlines as the ethanol futures remain dormant.

On the Crude Oil Front the market is taking another beating. Is this good? Fuel consumers are loving it. We need to get this thing going and stop blaming Putin. Even though he is evil he had nothing to do with closing Anwar and the Keystone Pipeline XL and signed approval of the Nord Stream pipeline giving Russia another gift losing U.S. market share. We’ll see how this day plays out with API’s out at 3:30 P.M.

In the overnight electronic session, the April crude oil is currently trading at 9594 which is 707 points lower. The trading range has been 10258 to 9354.

On the Natural Gas Front this market seems to be running out of steam with more spring like temperatures and following suit on the pressure in the energy complex. In the overnight electronic session, the April natural gas is currently trading at 4.544 which is 0.114 lower. The trading range has been 4.682 to 4.514.