Happy Thanksgiving Week!
Football, Turkey Bowls, Food and Libations this Traditional American Holiday and other counties that value theirs. We regard this holiday to remember how thankful wand lucky we are to be in a country that is a non-hostile and worthless government that sucks the blood out of you… And brought us to her shores in the first place.
In the overnight electronic session the Grains are taking more bearish heat taking it on the chin again. The January soybeans are trading on the lows and the December corn is currently trading at 360, which is 3 ¼ cents lower. The trading range has been 363 ½ to 360. If these prices do not turnaround, expect farmers to hold back.
On the Ethanol front there were no trades posted in the December contract while the January contract posted a trade at 1.483 which is .007 of a cent lower. The trade coincides with the early bearish sentiment corn and crude oil.
On the Crude Oil front the market is not trading strong with a mostly quiet weekend on the Middle-eastern front. In the overnight electronic session the January contract is currently trading at 4170, which is 20 points lower. The trading range has been 4275 to 4041.
On the Natural Gas front what has been priced in? An El Niño winter Winter chills oil-company buyouts or mergers that will leave the last-man standing.
In the overnight electronic session the December natural gas is currently trading at 2.161, which is 0.151 of a cent higher. The trading range has been 2.180 to 2.051. This contract is trading weather and the normal temperatures we are feeling today will warm up by Thanksgiving, This will create volatility that will keep traders away without deep pockets.
Have a Great Trading Day!