Good Morning!
As the weather is changing back to more seasonable temperatures the January Natural Gas options expire today and the futures expire tomorrow. In the overnight electronic session the January contract is currently trading at 3.747, which is 8 ½ cents higher. The trading range has been 3.778 to 3.715. Thursday’s EIA Gas Storage report should show further draws and bring more bulls to the market while the bears liquidate or reverse on last week’s warmer weather forecast.
On the Crude Oil front, the API and EIA data will be delayed a day due to the Boxing Day holiday. The API will be released at the normal time on Wednesday while the EIA Energy Stocks will be released at 10:00 A.M. on Thursday. In the overnight electronic session the February contract is currently trading at 5327 which is 25 points higher. The trading range has been 5338 to 5303.
On the Grain front the complex is marching to the beat of a different drummer this morning. The entire complex is in the green with the exception of Rice, which is trading way off the highs and is now ½ of a cent lower. In the overnight electronic session the March Corn is currently trading at 350 ½, which is 4 ¾ cents higher. The trading range has been 350 ¾ to 346 ¼.
On the Ethanol front there was quite a bit of activity in the January, February and March contracts given the holidays. In the overnight electronic session the January contract is currently trading at 1.560, which is .003 of a cent lower. The trading range has been 1.579 to 1.560 and is currently showing 1 bid @ 1.544 and 1 offer @ 1.572.
Have a Great Trading Day!