From the Floor – An Afternoon Recap 01/26/12

News

  • Corn basis remains strong. Farmers  not selling. Nearby corn basis trade 100 over
  • March beans broke thru 100 day moving average but couldn’t hold it
  • Brazil’s Rio Grande do Sol state estimated their ‘11/12 corn crop at 3 M tons vs. previous estimate of 3.3 M
  • Brazil’s Rio Grande do Sol state estimated their ‘11/12 bean crop at 8 M tons vs. previous estimate of 8.75 M
  • Buenos Aires Grains Exchange 1st ‘11/12 Argentine bean crop estimate at 46.2 MMT vs. USDA estimate of 50.5 M
  • Buenos Aires Grains Exchange 1st ‘11/12 Argentine corn crop estimate at 22 MMT vs. USDA estimate of 26 M
  • Reuters Reporting – Major EU banks have pulled back from financing grain shipments destined for Iran bankers and traders. Ships waiting off shore Iran to unload grain delay caused by payment problems

 

Estimated Fund Activity

  • Wheat bought 6K
  • Corn bought 3K
  • Beans bought 5K
  • Meal bought 1K
  • Bean oil bought 3K

 

February Options expire tomorrow on the close

 

Closing Vols and ATM straddles

 

Corn

G vol 28 640 str 8-10

H vol 28 ¼ 640 str 40-42

J vol 27 ½ 640 str 53-55

K vol 29 640 str 70-72

N vol 30 ¼ 640 str 98-100

U vol 30 ¾ 590 str 108-110

Z vol 29 570 str 117-119

 

Beans

H vol 22 ½ 1220 str 62 ½ – 63 ½

J vol 22 ½ 1230 str 87-89

K vol 22 ¾ 1240 str 108 ½ – 109 ½

N vol 22 ¾ 1250 str 142-144

X vol 22 ¼ 1220 str 185-187

 

Wheat

H vol 33 650 str 47-49

J vol 31 670 str 65-69

K vol 31 670 str 79-82

N vol 32 680 str 110-113

U vol 32 690 str 130-140

Z vol 30 ½ 710 str 152-158

 

Minneapolis wheat

H vol 29 820 str 47-53
K vol 27 810 str 80-87
N vol 27 800 str 105-120
U vol 27 780 str 125-140

KC Wheat

H vol 30 710 str 46-51

K vol 29 ½ 720 str 76-85

N vol 29 ½ 720 str 104-114

U vol 29 730 str 125-137

 

Meal

G vol 23 320 str 3-7

H vol 24 320 str 17-18

K vol 23 320 str 29-30

N vol 22.75 330 str 37-39

Q vol 22.5 320 str 40.50-43

U vol 21.5 320 str 49-50.50

 

Bean oil

G vol 25 52 str 50-100

H vol 21.75 52 str 245-260

K vol 21.75 5250 str 420-460

N vol 21.75 5250 str 560-600

Q vol 21.75 53 str 625-675

U vol 21.75 53 str 650-725

Z vol 21.5 53 str 775-875

 

Crush and Oil Share

 

Crush Quotes

 

  B/A Open B/A Close Settle Prev Change
           
           
Mar 12 57-57.5 57.5-58 60.51 53.91 6.60
May 12 57-58 57-57.5 59.95 54.54 5.41
Jul 12 57.5-58.5 57-58 59.99 55.11 4.88
Aug 12 61-63 59-60 62.02 58.36 3.66
Sep 12 67-69 67-68 69.79 65.39 4.40
Oct 12 65-67 65-67 69.10 62.77 6.33
Dec 12 64.5-66 66-66.5 69.65 62.33 7.32
Jan 13 61-64 61-65 67.85 59.03 8.82

 

Oil Share settlements

 

  Settle Prev Change
       
       
       
Mar 12 44.52 44.70 (0.18)
May 12 44.59 44.59 0.00
Jul 12 44.60 44.76 (0.16)
Aug 12 44.69 44.84 (0.15)
Sep 12 44.85 45.01 (0.16)
Oct 12 45.17 45.39 (0.22)
Dec 12 45.32 45.50 (0.18)
Jan 13 45.29 45.45 (0.16)

 

Crush Players

 

Reverse House Crush
Qty Month Price   Qty Month Price
50 n 57.5 FI division of FC Stone      
      Tenco 100 z 66
      Bunge 100 h 58
      Tenco 140 h 58
      Rosenthal 40 h 58

 

Oil Share Players

 

400 h 44.45 RJO      
300 n 44.5 RJO      

 

Thank you,

 

Kate Rosenberg