Coffee Cup Comments
Markets are higher this morning on what seems to be follow-through trade from yesterday. Yesterday’s ethanol numbers were weak. Production was seen at 855K and stocks were at 22.69 million barrels. This is historically a bad week for ethanol and tends to be the bottom. Only time will tell on this. Barge freight is increasing due to harvest demands and low water levels for the Mississippi. Much of today’s trade is going to be positioning for tomorrow’s quarterly stocks report, which has been full of surprises for the last few years. Have a great Thursday!