Bean option recap

Never bet against the US farmer.  With the skies looking favorable for getting a chunk of corn planted over the next couple of weeks, the bulls who have been betting on too much rain are heading for the exits.  If we get a decent “corn planted” number this afternoon I think these markets are toast.  It will be hard to rally these markets with the kind of subsoil moisture which has been created over the past month. 

ADM Sold 250 July 1400 calls 31.5

Tenco Bot 1000 July 1350 Puts 23/ Bot 340 Jul futures 1384

Fimat Bot 1300 Mch 960 Puts 8.75-9.25

Bunge Sold 200 Nov 1300 Calls 36

Obrein Sold 250 Jul 1300 puts 10.5-11

Rand Bot 1000 Nov 1220 Puts 74-75

Macquarie Bot 400 jul 1400 calls 24.5/ Sold 160 Jul futures 1369

Rosenthal Sold 600 nov 1100 Puts 25

GFI Bot 750 Jul1 380/1400 call spds 8 db

Macquarie Bot 500 Jul 1380 Calls 32.75-32.875/ Sold240 jul futures 1370

Straddles > June 1370 45.5-47/ July 1370 74-75.5/ Nov 1200 133-135/

VOLS> JUNE 18.5 up .25/ JULY 19 up .25/ NOV 20.5 up .25

Jon Karmin and Jeff Pogonitz Brokerage