Energy Report: Corn and Ethanol

January 14, 2010 06:00 PM
Dan Flynn, Alaron

The March corn is trading at 378 3/4, which is down 2 1/4 cents as I write.The range is 379 3/4 to 376 1/2.

Traders will continue to lay low in the weeds after this weeks reports showing a surprising record in yields after all the crazy weather.

This bounce back has changed the market psychology. What was previously thought has changed. I still remain a long term bull.

On the energy front buyers seem few and far between.

The U.S. Dollar is spiking up going into the Martin Luther King holiday.

With no trading session on Monday traders ponder two other issues facing the market:

A) a short covering rally

B) geo-political forces

If it's quiet on the eastern front, expect a selloff !




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Republished with permission from Alaron's Energy Report Daily. 


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