Welcome Back To The Markets. The Corn & Ethanol Report
We started off the day with NY Empire State Manufacturing Index (Jan) at 7:30 A.M., NAHB Housing Market Index (Jan) at 9:00 A.M., NY Fed Treasury Purchases 4.5 to 7yrs. at 9:30 A.M., 3-Month & 6-Month Bill Auction at 10:30 A.M., Net Long-term TIC Flows (Nov), Overall Net Capital Flow and Foreign Bond Investment at 3:00 P.M.
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On the Corn front, Purdue University has kickoff a project to learn best to diversify crops grown in the U.S. corn belt. The idea is to make farms in states like Indiana `move resilient to extreme heat, flooding and natural disasters. When a farmer grows one or two crops, it is easier for a single weather event to wipe out their entire field. Researchers with Diverse Belt project are hoping to `engage hundreds of farmers in Indiana, Iowa and Illinois to find out the best ways to diversify what they grow.In the overnight electronic session the March Corn is currently trading range has been` 595 ¼ to 588 ¼.
On the Ethanol front, Viswaraj Sugar Industries to invest Rs 250 cr new ethanol plant in Karnataka. At present VSIL has sugar crushing capacity of 112,000 tonnes per day, co-generation capacity of 36.4 M W, and vinegar manufacturing capacity of 70,000 litres per day. There were no trades or open `interest in ethanol futures.
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