Good Morning!
Turks shoot down a Russian jet only to click the doomsday clock closer to World War 3. And what are the clowns doing in Washington? I assure you nothing to click the clock back and learn from history not to make the same mistakes. We need Leaders to get us out of this mess. Unfortunately, Washington only offers tax hikes and followers.
In the overnight electronic session the December corn is currently trading at 364 ¼ which is 3 cents lower as I write. The trading range has been 367 ¼ to 364 ¼ so far. The market is looking heavy in the early going and light volume could shake and back price volatility.
On the Ethanol front there were no trades posted in the overnight electronic session. The December contract settled at 1/495 and is currently showing 5 bids @ 1.485 and 2 offers @ 1.4999. It should be a tricky market with geo-political events driving Energy prices higher and selling pressure on the Grain complex.
On the crude oil front the market is trading strong with fears of an escalation in the war front unfolding in the Middle-East and Europe. In the overnight electronic session the January crude oil is currently trading at 4241, which is 66 points higher at this writing. The trading range has been 4259 to 4186 so far. Thin trading volume could only exasperate volatile price swings. Keep your cards close to the vest.
On the natural gas front the January contract is currently trading at 2.274 which is .069 cents lower. The trading range has been 2.342 to 2.258 so far. Warmer weather forecasts have dampened bullish expectations and swagger.
Have a Great Trading Day!