Good Morning!

We kickoff the first Friday of February with Unemployment with revisions going back to March 2019 that could see a negative impact according to some analyst but as Phil Flynn said after yesterday’s Jobless Claims I would not sweat it, the report comes out at 7:30 A.M. along with Wholesale Trade. At 10:00 A.M. we have Monetary Policy Report, Baker Hughes Rig-Count at 12:00 P.M., followed by Catfish Production and Consumer credit at 2:00 P.M. The coronavirus now has 400 million people under quarantine in China and the market is showing concerns the virus is spreading again On the Corn front the market is currently trading higher with the March contract current at 381 1/4 , which is 2 cents higher. The trading 382 to 380.

On the Ethanol front the March contract posted a trade at 1.328 and the market is currently showing 2 bids @ 1.327 and 1 offer @ 1.334 with one contract traded and Open interest at 348 contracts.

On the Crude Oil front Russia has agreed to a 600K barrels a day production cut but the coronavirus rears its ugly head with rising deaths and mounting quarantines that once again instilled fears to speculators in the marketplace. In the overnight electronic session the March Crude Oil is currently trading at 5033, which is 62 points lower. The trading range has been 5148 to 5022.

On the Natural gas front the March contract is currently trading at 1.852, which is 1 cent lower. The trading range has been 1.877 to 1.842. I do not believe we will see any excitement in this market until or unless we have a heatwave that will hang around for a while and have heavy use of air-conditioning units.

Have a Great Trading Day!

The Corn And Ethanol Report: February 07, 2020

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.