Good Morning!
The minions have spoken and the corrupt politicians should soon get an education that they cannot continue to bamboozle the voters they were elected to represent. This is a warning that taxation without representation will not be tolerated and will not be forgotten as they think we are too stupid to remember. Raising taxes at the drop of a hat that hurts our pocket books and almost always is not the solution to the problem at hand while you wheel and deal in corruption. “We the People”, just put you on notice.
On the Corn front the Grain complex is showing euphoria following the French election of a sign of less government and more Free Trade. The weather has been a bit better than forecasted and that energizes everyone’s appetite to being much healthier. In the overnight electronic session the May Corn is currently trading at 359 which are 2 cents higher. The trading range has been 360 ½ to 357.First Notice Day on all May Grains is Friday so we will be switching our focus to the July contract shortly.
On the Ethanol front the June contract posted a trade at 1.610, which is .007 of a cent higher. The market is currently showing no bids and 1 offer @ 1.638 with Open Interest at 2,479 contracts.
On the Crude Oil front the market is gathering itself after a substantial technical washout last week. In the overnight electronic session the June Crude Oil is currently trading at 4977 which is 15 points higher. The trading range has been 5022 to 4967.
On the Natural Gas front the market is trading a little easier with the May contract currently trading at 3.076, which is 2 ½ cents lower. The trading range has been 3.149 to 3.063.
Have a Great Trading Day!