Happy Valentine’s Day!
We kickoff the day with Business Inventories and Retail sales at 7:30 A.M., Capacity Utilization and Industrial Production at 8:15 A.M., Michigan 5-Year Inflation Expectations Prel (Feb), Michigan Inflation Index Prel (Feb), Michigan Consumer Expectations and Current Conditions Prel (Feb) at 9:00 A.M., Fed Mester Speech at 10:45 A.M., Baker Hughes Oil Rig-Count and Total Rig-Count at high noon. On the Corn front yesterdays Export Sales were in line with expectations, Argentina prices are at a discount to U.S. prices and China may come in and but Beef, Pork and Soybeans but may not necessarily buy feed grains. In the overnight electronic session the March Corn is currently trading at 379 3/4 which is a 1/4 of a cent higher. The trading range has been 380 1/2 to 3678 1/2 .
On the Ethanol front there were no trades posted in the overnight electronic session. The March contract settled at 1.343 and is currently showing 1 bid @ 1.338 and 1 offer @ 1.353 with Open Interest at 275 contracts.
Have a Great Trading Day!
The Corn And Ethanol Report: February 14, 2020
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