We start off the day with Market Composite PMI Flash (Jul), Market Manufacturing PMI Flash (Jul) and Market Services PMI Flash (Jul) at 8:45 A.M., Baker Hughes Oil & Total Rig Count at 12:00 P.M. and Cattle on Feed at 2:00 P.M.
On the corn Front yesterday’s Export Sales number was weak. Other pressuring factors to the market was talk of rain showers in most of the Midwest. There are traders who do not believe in those forecasts. Other weather models were talking about hot and dry weather in North Dakota, South Dakota, Minnesota, Nebraska and Iowa. In the overnight electronic session the December corn is currently trading at 560 ½ which is ¾ of a cent lower. The trading range has been 565 to 556.
On the Ethanol the news has been of the bipartisan bill introduced to eliminate the corn ethanol mandate. I will keep you posted on breaking news of progress of the bill. There were no trades posted in the overnight electronic session with the August contract settling at 2.320 and is currently showing no market.
Have A Great trading Day!
Dan Flynn -