We start off the week with Export Inspections 10:00 A.M. and Crop Progress at 3:00 P.M. On the Corn front we made new contract lows as funds became bona=fide sellers after last weeks report and with light volume new lows were inevitable. In the overnight electronic session the May Corn is currently trading at 328 ¾ which is 2 cents lower. The trading range has been 331 ¾ to 327.
On the Ethanol front it is the same old story. There were no trades posted in the overnight electronic session and more shut-downs on facilities due to less than narrow margins for profit. The May contract settled at 0.864 and is currently showing 21 bid @ 0.841 and 2 offers @ 0.875 with Open Interest at 307 contracts.
Have a Great Trading Day!
Dan Flynn