Good Morning!
The changing weather extremes depending in what part of the country you are in is feast or famine, drought or flood. This morning we have Export Inspections at 10:00 A.M., NOPA Crush at 11:00 A.M. and Crop Progress at 3:00 P.M. In the overnight electronic session the September Corn is currently trading at 375 ¼, which is 1 cent lower. The trading range has been 376 ¼ to 370 ½.
On the Ethanol front there were no trades posted in the overnight electronic session. The August contract settled at 1.538 and is currently showing 2 bids @ 1.541 and 5 offers @ 1.555 with Open Interest declining to 904 contracts.
On the Crude Oil front $47 is key resistance to punch through and trigger stops to $50 a barrel. The August contract is currently trading at 4643, which is 11 points lower. The trading range has been 4688 to 4636.
On the Natural Gas front the market is trading higher on forecast of hot temperatures moving into the Mid-West. In the overnight electronic session the August contract is currently trading at 3.005, which is 2 ½ cents higher. The trading range has been 3.028 to 2.980.
Have a Great Trading Day.