More Sanctions for Russia. The Corn & Ethanol Report 04/16/18

We kickoff the day with Business Inventories and Retail Sales at 7:30 A.M., Export Inspections at 10:00 A.M., NOPA Crush at 11:00 A.M. and Crop Progress at 3:00 P.M. The U.S. is expected to give a fresh round of sanctions to Russian companies that supply materials for chemical weapons to Syria. We can expect that to come today. In the overnight electronic session the May Corn is currently trading at 384 ½ which is 1 ¾ of a cent lower. The trading range has been 385 to 392¼. The weather has been brutal for this time of year and further delaying farmers chances to plant.

On the Ethanol front there were no trades posted in the overnight electronic session. The May contract settled at 1.488 and is currently showing 1 bid @ 1.492 and 5 offers @ 1.503 with Open Interest dropping to 867 contracts as rollovers to the June contract was active in Friday’s trading session.

On the Crude Oil front the market sold off after the reality set in after the airstrike on Syria. A round of selling came in after the European markets opened. In the overnight electronic session the May Crude Oil is currently trading at 6650 which is 89 points lower. The trading range has been 6768 to 6609.

On the Natural Gas front the market is supported due to a spring winter blast. In the overnight electronic session the May Natural Gas is currently trading at 2.750 which is 1 ½ of a cent higher. The trading range has been 2.771 to 2.739.

Have a Great Trading Day!
Dan Flynn