We kickoff the day from a 3-day weekend and football championships with Redbook at 7:55 A.M., Export Inspections at 10:00 A.M., #& 6-Month Bill Auction at 10:30 A.M. We have API Energy Stocks delayed until tomorrow due to yesterday’s holiday and the February Crude Oil expires today. On the Corn front the market is giving some back after Friday’s rally. There are thousands of Corn acres left to be harvested in North Dakota and weather in the Northern Plains is not helping matters at all as we are getting close to planting season and it is going to be a close shave. In the overnight electronic session the March Corn is currently trading at 386 ½ which is 2 ¾ cents lower. The trading range has been 389 ¼ to 385 ¼. We need to punch through the 388-393 level to make things interesting.

On the Ethanol Front with the Iowa Caucus closing in, Democratic presidential candidates are wooing Ethanol producers, a far cry from Coal and Natural Gas producers. In the overnight electronic session the February contract is currently trading at 1.348 which is .001 lower. The trading range has been 1.359 to 1.348. The market is currently showing 2 bids @ 1.332 and 1 offer @ 1.357 with 22 positions changing hands and Open Interest declining to 226 contracts as we are in rollover season.

On the Crude Oil front it is Last Trading Day in the February contract. The March contract is currently trading at 5793 which is 65 points lower. The trading range has been 5977 to 5771. We should see some action after tomorrows inventory report.

On the Natural Gas front after a bullish report and cold weather we could not keep the market above $2.00. In the overnight electronic session the February contract is currently trading at 1.398 which is 6 ½ cents lower. The trading range has been 1.970 to 1.830.

Have a Great Trading Day!
Dan Flynn