Trade Deals Have Markets Rock’n To Jingle Bell Rock
Good Morning!
We have Export Inspections at 10:00 A.M. and NOPA Crush at 11:00 A.M. Commodity prices are rolling with not only higher economic expectations out of China but also the long awaited trade deal is now coming into fruition and will be a benchmark for further trade negotiation in the future. Let’s not stop yet. Now that “Phase1” has been achieved now lets move forward and get the next part done. Also, Great Britain overwhelmingly voted out of the E.U., hopefully, the U.S. can reach a trade deal and become partners as well. In the overnight electronic session the March Corn is currently trading at 386, which is 5 cents higher. The trading range has been 388 ¼ to 383 ¼.
On the Ethanol front we are seeing support in prices with strong Energy and Grain prices. In the overnight electronic session the January contract is currently trading at 1.386, which is .018 higher. The trading range has been 1.390 to 1.386.
Have a Great Trading Day