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The Dan Flynn Corn & Ethanol Report
Wednesday October 28th 2009
Good Morning !
The December Corn continues it's slide downward. After yesterdays break the December Corn continued the downward spiral in the electronic overnight session where we are trading at 364 1/2 which is down 6 1/4 cents as I write.The range is 375 to 363 3/4. Traders must be aware of profit taking could continue this current break in the market to the downside.
However, I remain bullish in the long run !
On the Energy Front the U.S. Dollar and Geo-Political turbulance continue to change the elementry factors of Supply & Demand. This has refineries cracking less Crude Oil to Gasoline because their profit margin is not there. We have a glut of supply of Energies so far so why are refineries are going to work harder to lose money.
Keep your eyes on the Dollar and Stock Market to see if
we can get a good direction.
Have a Great Trading Day !
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