English
As noted yesterday there is nothing standing in the way of July beans until 1483.3. We nearly made it there today. Tomorrow should be interesting. I believe there are stops above that level which could bring us to the $15 level. There is no question things are tight in nearby beans yet I believe when we capitulate it willbe a violent swing downward. Nevertheless, don’t stand in front of a freight train. New crop is recognizing ample suplies.
Fimat Sold 2000 Mch 1000/1100 Call spds 82-82.5 credit
Fimat Bot 1000 Sep 1100/1200 Call spds 85 db
EDF Bot 1400 jul 1500 calls 15.75-17.75
FI Sold 1000 Nov 1140 Puts 29-29.5
ABN Bot 850 jul 1500 calls 18-20.25
FI Sold 200 Nov 1200 straddles 123.5
GFI Bot 1200 Jul 1400/1360 Put spds 4.5-5.75 db
Mizuho Sold 600 nov 1320 Calls/ Bot 600 jul 1470 Calls 1 credit
Mizuho Sold 600 Nov 1300 Calls / bot 600 jul 1460 Puts 1 credit
FI Bot 800 Aug 1400/1500 call spds 26.5-26.75 db/ Sold 208 Aug futures 1391
Bunge sold 250 N/X CSO 275 calls 11
Bunge Bot 1000 Jul 1300 puts 1.25
ADM Bot 400 aug 1360/1320 put spds 14.625 db
Bunge Bot 400 Jul 1450/1500 Call spds 21.25 db/ sold 100 jul futures 1463.5
GFI Sold 400 jul 1500 Calls 16-16.5/ Bot 128 Jul futures 1459
Fimat bot 1000 Jul 1500 calls 19
Vision bot 1500 jul 1550/1600 call spds 5.625-6 db
Straddles> June 1470 22.5-25/ Jul 1470 64-66/ Nov 1220 120-123
VOLS> June 18.75 up .25/ jul 19 up 1/ nov 19 down .625
Jon Karmin and Jeff Pogonitz Brokerage.
