Easier Ethanol trading today?

In the overnight electronic session the July Corn is currently trading at 513 ½ which is a ½ of a cent lower. The trading range has been 516 ¾ to 512 so far. Warmer temps are a welcome sight even if it is coupled with rains that could create a chop in today's open out-cry session.

On the Ethanol front the June contract posted a trade at 2.062 which is .002 of a cent higher. If the Crude and Corn continue to trade easier in today's session expect the Ethanol to follow suit.

On the Natural Gas front the Energy Information Administration (EIA)will release its weekly Gas Storage data and our guess is an injection of +79 billion cubic feet. In the overnight electronic session the June Natural Gas is currently trading at 4.742 which is .002 of a cent higher. The trading range has been 4.754 to 4.716 so far. Today's Gas Storage number will be pivotal to the trading sessions outcome.

On the Crude Oil front the June contract is currently trading at 10063 which is 14 tics lower in the overnight electronic session. The trading range has been 10093 to 10033 so far. The market is easing off a bit from yesterday's gains but may not be done with more upside.

Other reports today released at 7:30 A.M. are Export Sales and Initial Jobless Claims.

 
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