Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

The Corn & Ethanol Report: Snake Island Back In Ukraine 's Hands

By Dan FlynnCommoditiesJun 30, 2022 10:59AM ET
www.investing.com/analysis/the-corn--ethanol-report-snake-island-back-in-ukraine-s-hands-200626529
The Corn & Ethanol Report: Snake Island Back In Ukraine 's Hands
By Dan Flynn   |  Jun 30, 2022 10:59AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

On the corn front, we ended up mixed in yesterday’s action. There is expected there will be no deliveries in July, and whispers the commercials are short July corn and unable to buy corn. Traders differ on the acreage numbers as some expect an increase in US corn acreage, and others say not so fast in this growing season.

It was a busier than usual planting season with the weather, and analysts and traders were thinking those thoughts. Another wrinkle is the news that Ukraine is retaking the Snake Islands, a strategic post, and most likely will take back the sea lanes in the Black Sea. I cannot confirm how deep in the crop that can be exported. In the overnight electronic session, the December Corn is currently trading at 646 ¾, which is 7 cents lower. The trading range has been 653 ¾ to 646 ¼. Buckle (NYSE:BKE) Up Your Chinstrap at 11:00 A.M.

On the ethanol front, no major headlines we have not heard before. The good news is a kind gesture from the Sheetz chain over the 4th of July weekend to give drivers a break this busy holiday traffic weekend. How American is that? Take a bow, and God Bless the people at Sheetz. There were no trades or open interest in ethanol futures.

On the crude oil front, profit-taking and end of the quarter selloff in the early in the going. No other headline I see this morning. In the overnight electronic session, the August crude oil is currently trading at 10844, which is 134 points lower. The trading range has been 11045 to 10837.

On thenatural gas front, the market is eyeing a tropical storm that most likely not be named but could wreak havoc on the coasts of Texas, Louisiana, Alabama, and Florida. The market in the early going is not pricing in the risk, or maybe some are expecting little or no damage in the refinery row. And we have the Gas Storage and the Thomson Reuters (NYSE:TRI) poll with 15 analysts participating estimates injections ranging from 68 bcf to 80 bcf with a mean increase of 72 bcf and the hard number 74 bcf. This compares to the one-year injection of 25 bcf and the five-year average of 60 bcf. In the overnight electronic session, the August natural gas is currently trading at 6.458, which is o.040 lower. The trading range has been 6.530 to 6.312.

God Bless Hershel “Woody” Williams, who passed away. Woody was the last surviving Congressional Medal of Honor recipient from WW II.

The Corn & Ethanol Report: Snake Island Back In Ukraine 's Hands
 

Related Articles

Phil Flynn
The Energy Report: China Shocker By Phil Flynn - Aug 15, 2022 1

Oil prices were down on concerns that Iran could accept the EU proposal to get back into the Joint Comprehensive Plan of Action (a nuclear deal reached by Iran and China, France,...

The Corn & Ethanol Report: Snake Island Back In Ukraine 's Hands

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Midnight Trader
Midnight Trader Jun 30, 2022 3:52PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
May the FSM bless you!
Arthur Timmins
Arthur Timmins Jun 30, 2022 11:53AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
God Bless You Too!
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email