English
Good morning
February options expire today at 115 pm CST (see below for open interest)
Overnights
SH unchanged
CH up 4 ¾
WH down 1
SMH down .70
BOH down 12
RRH down 1.50
Overnight Volume
SH 7,460
CH 17,166
WH 7,059
SMH 1,828
BOH 5,112
RRH 17
Early Calls
Beans 1-2 higher
Corn 4-5 higher
Wheat 1-2 lower
Meal .50-1 lower
Bean oil 5-10 lower
Rice 1-2 lower
Crude up Dollar higher
Nikkei down .09%
Hang Seng up .31%
Greek debt talks close to making an agreement. Italian auction positive
Tensions in Iran continue. May disrupt oil supply
China , Vietnam, and Taiwan returns back to the market on Monday
Palm oil up 4
Malaysian January palm oil exports estimated at 1.3 M vs. 1.5 M in December
USDA reported Unknown bought 133,200 US wheat for ‘11/12 shipment (including 70,700 HRW , 36,100 Soft , and 26,400 HRS)
USDA reported Mexico bought 170,200 US corn for ‘11/12
South Korea NOFI bought 110K US corn for May/June shipment
South Korea bought 110K optional origin feed wheat for June/July shipment
South Korea has bought 458K tons of corn and 555K tons of feed wheat since January 6th.
Japan bought 150,191 wheat for March shipment Breakdown:
- 52,928 tons of Dark Northern Spring US wheat
- 46,773 Western Red Spring Canadian wheat
- 50,490 tons of Australian white wheat
Egypt bought 31,287 tons of edible oils for Feb/March shipment
Thailand bought 180K Brazilian meal this week for July/Sept shipment
Thailand bought 60K Australian feed wheat this week
Iraq seeks 50K any origin wheat excluding US and Romania
Export demand expected to pick up next week as China, Vietnam and Taiwan return from holiday
Vietnam expected to seeks 300K optional origin meal for March/April shipment
Vietnam expected to seek 150K Australian wheat for March / April shipment
Buenos Aires Grains Exchange yesterday estimated Argentina’s ‘11/12 bean crop at 46.2 M vs. 49.2 M in ‘10/11 and Argentina corn crop at 22 M vs. 22.1 M in ‘10/11
Corn basis weaker today but still strong
Good farmer movement in corn and beans yesterday
Weather improving in Northern and Southern Brazil
Rains is forecast for Argentina over the weekend and early next week
Extremely cold temps in weekend forecast for Russia and the Ukraine . Warmer temps in forecast for late next week
Concerns about winter kill in Russia and Ukraine
TALK continues – Russia may curb wheat exports
Feb opts open interest
- CG 630 calls 4978 contracts open
- CG 640 Calls 5890 contracts open
- CG 650 calls 9268 contracts open
- CG 630 puts 3895 contracts open
- CG 640 puts 4513 contracts open
- CG 650 puts 5651 contracts open
- SG 1200 calls 4118 contracts open
- SG 1220 calls 2147 contracts open
- SG 1200 puts 2939 contracts open
- SG 1220 puts 1826 contracts open
- WG 650 calls 3318 contracts open
- WG 650 puts 1308 contracts open
Thank you,
Kate Rosenberg
| Kate Rosenberg | Grain Desk Manager |
