Afternoon Recap from the Grain Floor 2/17/2012

News

  • 13:41 17Feb12 RTRS-CHINESE DELEGATION SIGNED DEALS TO BUY TOTAL OF 13.4 MLN TONNES (record)  US SOYBEANS THIS WEEK – US SOY GROUP
  • USDA reported this morning that South Korea bought 132K US corn for ‘11/12 delivery
  • USDA reported this morning that Egypt bought 120K US soft red winter wheat for ‘11/12 delivery
  • US grain markets are closed on Monday for Presidents’ Day holiday.  Overnight grain market will open on Monday at 6 pm CST.
  • May beans are top step (spot month) on Tuesday
  • Holiday in Brazil on Tuesday
  • USDA outlook conference is Feb 23rd

 

Estimated Fund Activity

  • Wheat bought 4K
  • Corn  bought 7K
  • Bean bought 3K
  • Meal bought 2K
  • Bean oil bought 2K

 

Closing vols and ATM straddles

 

Corn

H vol 22 ½ 640 str 15-16

J vol 22 ¾ 650 str 36-36 ½

K vol 26 ½ 650 str 56 ½ 57 ½

N vol 29 ¾ 650 str 89 ½ -90

U vol 30 ½ 600 str 103-104 ½

Z vol 28 ½ 570 str 111 ½ -112 ½

 

Beans

H vol 15 ¾ 1270 str 23-24 ½

J vol 18 ¼ 1270 str 57-59

K vol 20 ¼ 1270 str 85-86

N vol 21 ½ 1280 str 128-130

X vol 22 ½ 1260 str 184-187

 

Wheat

H vol 25 640 str 16-18

J vol 26 650 str 40-43

K vol 29 650 str 61-64

N vol 30 ¾ 660 str 93-94

U vol 30 ½ 680 str 116-120

Z vol 29 ½ 690 str 139-143

 

Minneapolis wheat

H vol 20 830 str 16-20

K vol 26 820 str 68-72

N vol 27 810 str 95-105

U vol 27 790 str 135-145

Z vol 27 790 str 135-145

 

KC wheat

H vol 29 ½ 690 str 14-19

K vol 28 ½ 700 str 60-66

N vol 29 700 str 90-100

U vol 28 ½ 730 str 110-122

 

Meal

H vol 22 330 str 8-9

K vol 21.25 340 str 23-25

N vol 21.50 340 str 33.50-35

Q vol 21.50 340 str 38-40

Z vol 21 330 str 48-50

 

Bean oil

H vol 18 5350 str 100 – 130

J vol 21.25 54 str 235-250

K vol 21 54 str 350-380

N vol 21 54 str 510-550

Q vol 20.75 5450 str 580-630

U vol 20.75 5450 str 630-680

Z vol 20.50 5450 str 760-810

 

Crush and Oil share

 

Crush Quotes

 

  B/A Open B/A Close Settle Prev Change
           
           
Mar 12 52.5-53 53-53.5 51.40 53.06 (1.66)
May 12 55.5-56.5 56.5-57 55.27 56.43 (1.16)
Jul 12 56.5-57 57.25-57.75 55.93 56.95 (1.02)
Aug 12 60-62 60-62 59.60 60.26 (0.66)
Sep 12 66-68.5 67-69 66.24 66.56 (0.32)
Oct 12 64-67 64-67 63.18 64.31 (1.13)
Dec 12 65.5-66.5 67-67.5 64.24 65.96 (1.72)
Jan 13 63-66.5 63-67 64.29 65.29 (1.00)

 

Oil share settlements

 

  Settle Prev Change
       
       
       
Mar 12 44.54 44.50 0.04
May 12 44.53 44.48 0.05
Jul 12 44.52 44.47 0.05
Aug 12 44.62 44.59 0.03
Sep 12 44.80 44.76 0.04
Oct 12 45.25 45.08 0.17
Dec 12 45.25 45.22 0.03
Jan 13 45.24 45.21 0.03

 

Crush Players

 

Reverse House Crush
Qty Month Price   Qty Month Price
      Tenco 200 n 57
      FI 100 z 67 1/4

 

Thank you and have a nice weekend ,

 

Kate Rosenberg