From the Floor – An Afternoon Recap 4/11/13

News
• TALK 1-2 US old crop bean cargoes were sold of the PNW this week for April shipment
• TALK China bought 1-2 cargoes of Argentine corn to test GMO for April/May shipment
• Jordan canceled tender for 100K optional origin wheat for June / July shipment due to high prices
• Today was the last day of the index fund roll. In the open outcry market
o Wheat – 1200 May July spreads were sold at 5 ¼ – 5 ½
o Corn – 3000 May July spreads were sold at 17 ¾ -18
o Beans – 700 May July spreads were sold at 32 ¾ -34 ½
o Meal – 250 May July spreads were sold at 2.10
o Bean oil – 1,000 May July spreads were sold at 18-19
• Weekly COT report comes out tomorrow at 230 pm CDT
• Open outcry option players (very quiet day on the floor today)
o FC Stone sold 600 Nov bean 1240 straddles and bought 600 July bean 1380 straddles at 61 ½ -63 credit
o ABN Sold 450 May bean 1320 Puts/ Bot 900 May bean 1260 Puts ¾ -1 credit
o Tenco bought 600 Nov bean 1300/120 call spreads at 5 ¾
o FI sold 4,000 Dec corn 550/520 put spreads at 15 ¼ and sold 440 Dec futures at 542
o Tenco sold 1,845 July corn 640 calls at 25 tied to futures at 637 and bought 1,170 Dec corn 540 puts at 41 ¼ tied to futures at 545
o Macquarie bought 1,200 Sept corn 570 straddles at 76
o ICap sold 1,500 May corn 650/620 put spreads at 6-8
o ICap bought 1,000 July corn 660/710 call spreads and sold 1,000 July corn 600 puts at even money.
o Rosenthal sold 1500 Dec corn 650 calls/bot 3000 Dec corn 700 calls/sold 1500 Dec corn 750 calls/bot 1500 Dec corn 560 puts at 4 credit
o ADM bought 750 July wheat 750 calls sold 250 March wheat 780 calls at 1 debit
o ADM bought 750 July wheat 760 calls sold 250 March wheat 790 calls at 2 credit
o ADM bought 500 Sept meal 350 puts sold 500 July meal 380 puts at 6.25 debit
o Tenco bought 600 Aug bean oil 52 calls at 115 and sold 216 Aug futures at 5015

Estimated Fund Activity
• Wheat bought 1K
• Corn bought 3K
• Beans bought 3K
• Meal bought 1K
• Bean oil sold 2K

Closing vols and ATM straddles

Corn
K vol 22 650 str 22 ½ -24.
M vol 22 ½ 630 str 38 ½ -39 ½
N vol 24 630 str 52 ½ -53 ½
U vol 28 570 str 76-77
Z vol 26 ¼ 540 str 88-89 ½
H vol 24 ½ 550 str 98-100

Beans
K vol 15 ¾ 1400 str 36 ½- 37 ½
M vol 16 ¾ 1370 str 63-65
N vol 17 ½ 1370 str 84 ½ -86
Q vol 19 ¾ 1340 str 113-116
U vol 20 ¼ 1280 str 124-127
X vol 20 1240 str 145 ½ -147

Wheat
K vol 24 ¼ 700 str 27-29
M vol 24 ¾ 700 str 47-49
N vol 25 ¾ 700 str 63-64
U vol 26 ½ 710 str 90-92
Z vol 25 ½ 720 str 115-117
H vol 24 740 str 128-132

Minneapolis wheat
K vol 18 ½ 790 str 22-28
N vol 20 780 str 52-62
U vol 22 780 str 77-87
Z vol 22 790 str 99-109

KC Wheat
K vol 23 740 str 26-31
N vol 23 ½ 740 str 59-65
U vol 24 ½ 760 str 82-94
Z vol 24 ½ 77 str 124-134

Meal
K vol 19.25 400 str 12.5-14
M vol 20.5 390 str 22-24
N vol 21 390 str 28.5-30
Q vol 21.5 380 str 34.5-36.5
U vol 21.75 360 str 37.5-39.5
Z vol 21.25 340 str 44-47

Bean oil
K vol 16.75 49.5 str 125-140
M vol 17 50 str 220-240
N vol 17 50 str 280-345
Q vol 17.5 50 str 355-380
U vol 17.5 50 str 400-430
Z vol 17.5 50 str 515-540

Crush quotes

OPEN CLOSE
MAY 22.5-23.5 13.5-15
JLY 47.5-48 45.5-46
AUG 54-55 53-54.5
SEP 68-69 67.5-68.5
OCT 66-67.5 64-66
DEC 61-62 59-61
JAN 58-59.5 56-58
MCH 59.5-61.5 58-60

Crush players

Bunge sold 200 Sept crush at 68.5
Tenco sold 100 July crush at 47.75

Thank you,

Kate Rosenberg