The Art Of The Deal
Good Morning!
Shutdown Averted? Compromise? With this Congress? Who would of Thunk? My fellow Americans it looks like we will be getting our wall and we seem to be in striking distance to have a deal with China. Amazing how you get a business savvy negotiator who does not cave into politics strikes deals that are beneficial to both sides. Today we have at 3:30 P.M. and Groupon (NASDAQ:) . On the Grain front we are starting in the green with and . was higher but has sold off to the lows being lower in the overnight electronic session. The Corn once again has a narrow trading range and yesterday’s news that Friday’s report did not show the drop in U.S. and World carryout as much as investors were banking on. Argentina’s Corn crop with all their weather problems is looking to beat last years crop and the Ukraine crop is looking to have solid numbers versus last year. But we are having good news on the U.S.-China trade talks and that should be a boon to exports. In the overnight electronic session the March Corn is currently trading at 375 ½, which is 2 ¾ cents higher. The trading range has been 375 ¾ to 373.
On the front the March contract is currently trading at 1.325, which is .007 higher. The trading range has been 1.329 to 1.318. 32 contracts traded and Open Interest is at 1,419 contracts. The market is currently showing 1 bid @ 1.322 and 2 offers @ 1.327.
On the front good news on the U.S.-China talks and we could dodge the government shutdown bullet which has the market moving to the upside as it should be according to certain investors. If we get a deal with China and avert a shutdown the sky is the limit. In the overnight electronic session the March Crude Oil is currently trading at 5358, which is 117 points higher. The trading range has been 5385 to 5229.
On the front the market is trading higher mostly on weather related forecast. We did see longs take profits in yesterdays action. In the overnight electronic session the March Natural Gas is currently trading at 2.672, which is 3 cents higher. The trading range has been 2.687 to 2.618.
Have a Great Trading Day!
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