From the Floor – An Afternoon Recap 2/16/12 |

News

Japan bought 138,959 wheat forApril shipment Breakdown
- 50,417 tons of western red spring Canadian wheat
- 34,318 tons of dark northern spring US wheat
- 54,224 tons of Australian white wheat
- Iran bought 500K optional origin milling wheat for Feb/April shipment
- Iran has bought 1.1 million tons of wheat over the past 2 weeks
- Algeria bought 300K optional origin durum wheat for April/May shipment
- Buenos Aires Grains exchange weekly report
  - ‘11/12 Argentine bean crop estimated at 46.2 M unchanged from a week ago
  - ‘11/12 corn crop estimated at 21.3 M unchanged from a week ago
  - Argentina’s Ag Ministry estimates
    - ‘11/12 Argentine corn crop estimated at 20.5 – 22.0 M tons
    - ‘11/12 Argentine bean crop estimated at 43.5 – 45.0 M tons
    - May beans will be top step (spot month) on Tuesday
    - May bean oil will be top step (spot month) on Wednesday
    - 10,000 March May bean oil spreads traded on the screen the last 5 minutes of trade between -39 – - 36

Estimated Fund Activity

Wheat bought 2K
Corn bought 11K
Beans sold 5K
Meal sold 1500
Bean oil sold 2K

Closing vols and ATM straddles

Corn

H vol 21 635 str 14 ½ -15 ½

J vol 22 ¼ 640 str 35-36

K vol 26 ¼ 640 str 55 ½ – 57

N vol 29 ¾ 640 str 55 ½ – 57

U vol 30 ½ 590 str 89-90

Z vol 28 ½ 570 str 112 ½ – 114

Beans

H vol 14 ½ 1260 str 22-23 ½

J vol 18 1270 str 57-59

K vol 20 1270 str 85-86

N vol 21 ¼ 1280 str 127 ½ – 129

X vol 21 1260 str 183-186

Wheat

H vol 25 630 str 17-20

J vol 25 630 str 38-41

K vol 28 ½ 630 str 59-61

N vol 30 ½ 650 str 92-94

U vol 30 ½ 660 str 114-119

Z vol 29 ½ 680 str 138-142

Minneapolis wheat

H vol 24 810 str 22-26

K vol 25 ¾ 800 str 67-70

N vol 27 790 str 95-105

U vol 27 770 str 110-120

Z vol 27 770 str 135-140

KC wheat

H vol 29 ½ 680 str 20-26

K vol 29 ½ 690 str 63-70

N vol 29 ½ 690 str 92-102

U vol 29 710 str 112-125

Meal

H vol 20 330 str 8-9

K vol 21.75 340 str 24-26

N vol 21.50 340 str 34-36

Q vol 21.50 340 str 38-40

Z vol 21 330 str 48-50

Bean oil

H vol 16.75 53 str 80-110

J vol 19 5350 str 235-250

K vol 20.25 5350 str 340-370

N vol 21 54 str 500-540

Q vol 21.25 54 str 575-625

U vol 21.25 54 str 625-675

Z vol 21.25 54.50 str 760-810

Crush and oil share

Crush Quotes

	B/A Open	B/A Close	Settle	Prev	Change


Mar 12	55-55.5	54.5-55	53.06	58.01	(4.95)
May 12	56.5-57	56.75-57.5	56.43	59.28	(2.85)
Jul 12	56.5-57.5	57-57.5	56.95	59.66	(2.71)
Aug 12	60-62	60-62	60.26	63.05	(2.79)
Sep 12	66-68	67-69	66.56	69.21	(2.65)
Oct 12	63.5-65	64-67	64.31	68.08	(3.77)
Dec 12	66-67	67-67.5	65.96	69.95	(3.99)
Jan 13	64-67	65-67	65.29	68.61	(3.32)

Oil Share Settlements

	Settle	Prev	Change



Mar 12	44.50	44.49	0.01
May 12	44.48	44.49	(0.01)
Jul 12	44.47	44.50	(0.03)
Aug 12	44.59	44.62	(0.03)
Sep 12	44.76	44.79	(0.03)
Oct 12	45.08	45.07	0.01
Dec 12	45.22	45.20	0.02
Jan 13	45.21	45.22	(0.01)

Crush Players

Reverse			House	Crush
Qty	Month	Price		Qty	Month	Price
			Tenco	100	k	56.5
			Bunge	100	k	56 1/4
			Bunge	100	h	54.5
			Bunge	40	h	54.75

Thank you,

Kate Rosenberg

Kate Rosenberg | Grain Desk Manager

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