The Dan Flynn Corn & Ethanol Report
Wednesday November 11th 2009
Good Morning !
The Dollar is caving in once again. The December Corn is testing $4 trading at 398 which is up 3 1/2 cents as I write. The range is 399 1/4 to 391 1/2. Tropical Storm or Hurricane Ida should not be a factor to harvesting pressures so far. The Corn is trading higher due to our weakend Dollar and the longest harvest and worse than expected yields that I can remember.
I anticipate a charge to the upside with Funds and Producers craving a drive for higher prices to help their yield. On the Energy Front we remain in the same bubble. The market continues to wonder what the benchmark is to higher prices when we have a glut of product ?
The Key remains with th e Dollar !
Have a Great Trading Day !