Good Morning!
In the overnight electronic session the December corn is currently trading at 363 ¾, which is 1 ¾ of a cent higher. After opening on the lows posted at 362 along with soybeans and wheat opening on the lows of the range the markets rallied to the higher end of the trading range. And the December corn range is 364 to 361 ½ so far. A cold front and wintery weather is on tap going into the weekend that could lead a spike in Grain prices.
On the Ethanol front there were no trades posted in the overnight electronic session. The December contract settled at 1.460 and is currently showing 2 bids @ 1.453 and 1 offer @ 1.469.
On the crude oil front the December contract is currently trading at 4103 which is 36 points higher in the overnight electronic session. The trading range has been 4155 to 4084 so far. Last night’s weekly API data had a bullish spin to it and if this morning’s EIA backs up the data we could have a run in the Energy complex with winter storms moving across the country and risk premium concerns if the war in Syria spreads further in Europe and even to our shores.
On the natural gas front the market was trading mostly steady to mixed in the overnight electronic session with the spot December a tad higher but has sold off following the back months lead. The December contract is currently trading at 2.366 which is a ½ of a cent lower. The trading range has been 2.410 to 2.357. Tomorrow we will have the weekly EIA Gas Storage and with the changing weather forecasts we could have a run.
We also have Housing Starts at 7:30 A.M. and Dairy Product Sales at 2.00 P.M. today.
Have a Great Trading Day!