As A Full Moon and Hurricane Sandy lurk shutting down the Eastern seaboard until Further notice. The New York Stock Exchange may close early if not open at all and Definitely will have the doors closed tomorrow. As they brace for the mother of all storms.
In the overnight electronic session the December Corn is currently trading at 743 ¾ which is 6 cents higher as I write. The trading range has been 746 to 732 ½ so far. As we are approaching the end of harvest we should see a little bounce with demand up and overall yields way down which should be a key factor in the coming months.
On the Energy Front the December Crude Oil is currently trading at 8555 which is 73 points lower. In the overnight electronic session. The trading range has been 8643 to 8534 so far. The market is Initially telling us it concerned about demand destruction. Meaning people will not be going about there Day to day business until this mother of all storms makes landfall and damage assessments and recovery Of how long this is going to take.
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Have a Great Trading Day!
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