More Earnings this Week. The Corn & Ethanol Report 07/22/19

We will see plenty of Earnings this week with Halliburton and a host of other earnings to be released before the bell. Wi also will have Export Inspections at 10:00 A.M., Cold Storage at 2:00 P.M. and Crop Progress at 3:00 P.M. On the Corn front the predicted hot and humid weather did not stay as long as forecasted with Mother Nature once again giving us the slight of hand. In the overnight electronic session the December Corn is currently trading at 429 ¼ which is 6 ½ cents lower. The trading range has been 432 ¼ to 423 ½.

On the Ethanol front there were no trades posted in the overnight electronic session. There will be mixed signals with Corn trading lower while Crude Oil and Products are higher. The August contract settled at 1.472 and is currently showing 2 bids @ 1.442 and 2 offers @ 1.392 with Open Interest dropping to 488 contracts.

On the Crude Oil front the August contract expires today. And we have plenty of geo-political premium in the market now that Venezuela was shadowing U.S. Military Aircraft. While Iran capture alleged CIA spies and sentence them to death. They seem to be upping the ante with the wrong people. In the overnight electronic session the September Crude Oil is currently trading at 5638 which is 62 points higher. The trading range has been 5704 to 5587.

On the Natural Gas front the market remains higher even with the heat-wave put on hold. In the overnight electronic session the August Natural Gas is currently trading at 2.376 which is 2 ½ cents higher. The trading range has been 2.299 t 2.233.

Have a Great Trading Day!
Dan Flynn