We started off the day with MBA Mortgage Market Index (22/Oct), MBA Mortgage Refinance Index (22/Oct), MBA Purchase Index (22/Oct), MBA Mortgage Applications (22/Oct) and MBA 30-Year Mortgage Rate (22/Oct) at 6:00 A.M., Adv Durable Goods at 7:30 A.M., EIA Energy Stocks at 9:30 A.M., 2-Year FRN Auction at 10:30 A.M., 5-Year Note Auction at 12:00 P.M. and Dairy Product Sales at 2:00 P.M.

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On the Corn front, Ag Web’s Boots in the Field Ken Ferrie quoted, “It’s not Halloween but corn losses are scary.” With all the man-made infrastructure woes imagined from this current administration from trucking to shipping to just name a couple, now Mother Nature is threatening to slowdown a harvest that is moving at a record pace. We so much interference by politics and big government we may not see any light at the end of the tunnel with tomorrow’s Export Sales. In the overnight electronic session the December corn is currently trading at 541 ½ which is 2 cents lower. The trading range has been 542 ¾ to 539 ½.

On the Ethanol front, the big story was ADM selling their ethanol plant in Peoria, Illinois and now plans to tap 3 ethanol plants in Iowa and Nebraska to make sustainable aviation fuel. We will keep you posted as this story progresses. Still nothing new on the ethanol futures with zero Open Interest and zero bids or offers.

On the Crude Oil front, API’s showed surprising builds in crude stocks +2.318M, Cushing down big at -3.734, gasoline had draws of 0>530M, and distillates were up +0>986. When the EIA is released I would not be surprised to the market higher on the day. In the overnight electronic session the December corn is currently trading at 8296 which is 169 points lower. The trading range has been 8451 to 8293.

On the Natural Gas front, today is the Last Trading Day on the November contract. We had quite the selloff yesterday with option expiration and fears of demand destruction from the nor’ Easter. The market is bouncing back today as I expect the entire energy complex to trade higher. In the overnight electronic session the December natural gas is currently trading at u6.166 which is 0.163 lower. The trading range has been 6.198 to 5.886.