Good Morning!
In the overnight electronic session the March corn is currently trading at 354 ¼, which is 2 ¾ cents lower. The trading range has been 357 ¼ to 353 ½ so far. Traders are eagerly awaiting tomorrow’s final Crop Production USDA Supply/Demand to see if there will be any bullish surprise.
On the ethanol front there were no trades posted in the overnight electronic session. The February contract settled at 1.335 and is currently showing 1 bid @ 1.317 and 2 offers @ 1.340.
On the crude oil front the market is taking more heat with the February contract currently trading at 3270, which is 46 lower in the overnight electronic session. The trading range has been 3320 to 3224 so far. There is good support at the 3215 level.
On the natural gas front the market is acting like it already priced in the cold snap. In the overnight electronic session the February contract is currently trading at 2.422 which is 5 cents lower. The trading range has been 2.480 to 2.399 so far. The 10-day weather forecast should be a driving force in this market.
Have a Great Trading Day!