The Corn And Ethanol Report: February 27, 2020

Good Morning!

We kickoff the day with Advanced Durable Goods, Export Sales, GDP (Q4’19) and Jobless Claims at 7:30 A.M., Pending Home Sales at 9:00 A.M., EIA Gas Storage at 9:30 A.M., Kansas City Fed Manufacturing Index at 10:00 A.M., Fed Evans Speech, 4&8-Week Bill Auction at 10:30 A.M., 7-Year Note Auction at 12:00 P.M., Fed Mester Speech at 2:30 P.M. and 6:00 P.M. The commodities are in freefall as the panic attack continues with the next headline. On the Corn front the Export Sales overall did little to calm traders nerves. In the overnight electronic session the March Corn is currently trading at 366 1/4 , which is 4 1/4 cents lower. The trading range has been 370 to 366 1/4 .

On the Ethanol front the April contract is currently trading at 1.280, which is .020 lower. The trading range has been 1.260 to 1.275. The market is currently showing 1 bid @ 1.280 and 2 offers @ 1.294 with 9 contracts traded and Open Interest at 362 contracts.

On the crude Oil front the market is no different tumbling on the panic attack selling mode. In the overnight electronic session the April Crude Oil is currently trading at 4647, which is 226 points lower. The trading range has been 4878 to 4645.

On the Natural gas front this market is in tumble mode as well with the fears of the coronavirus and even with longstanding bearish fundamentals. Today we have the EIA gas Storage and the Thomson Reuters poll with 15 analysts participating expect withdrawals ranging from 165bcf to 146bcf. In the overnight electronic session the April Natural Gas is currently trading at 1.742, which is 9 1/2 cents lower. The trading range has been 1.831 to 1.741.

Have a Great Trading Day!