From the Floor – An Afternoon Recap 4/15/13

News

·         Last week China bought 1 cargo of US old crop beans off the PNW

·         Last week Spain bought 1 cargo of US old crop beans from the Gulf

·         Over the past few weeks China has booked 400K tons Australia wheat for June shipment

·         Analyst expect China to buy 3-5 MMT of wheat from Canada , Australia, and the US for June – Dec shipment

·         China’s H7N9 bird flu – 63 human cases reported with 14 human deaths

·         UAE bought 15K Indian wheat for May shipment

·         Buenos Aires Cereals Exchange estimated Argentina’s ‘13/14 wheat area at 3.9 MH vs. 3.6 MH a year ago and down 7% from 5 year average

·         Weekly US export inspections report came out today at 10 am CDT

o   Wheat 23.476 MB expecting 24-28 MB

o   Corn 14.701 MB expecting 10-16 MB

o   Beans 4.813 MB expecting 12-17 MB

·         Safras e Mercado weekly report as of 4/12/13

o   Total Brazilian bean harvest 82% complete vs. 76% a week ago, vs. 85% a year ago , and vs. 78% 5 year average

§  Rio Grande bean harvest 42% complete vs. 26% a week ago , vs. 57% a year ago and vs. 47% average

§  Parana bean harvest 94% complete vs. 88% a week ago, vs. 95% a year ago and vs. 92% average

§  Mato Grosso bean harvest 100% complete vs. 99% a week ago , vs. 100% a year ago and vs. 97% average

·         NOAA says US March temperatures were the coldest in 11 years

·         Weekly US CPI comes out tomorrow at 730 am CDT

·         Weekly API energy inventory report comes out tomorrow at 330 pm CDT

·         July beans, corn, wheat, and bean oil go top step (spot month) on Wednesday

·         Open outcry option players

o   Cunningham bought 800 Nov bean 1000/900 put spreads at 6 ½

o   Tenco bought 1,000 July 1420 calls at 22 ¾ and sold 380 July futures at 1369

o   Macquarie bought 2,000 July corn 640 calls and sold 2,000 Sept corn 650 calls at 10 ½ -11 debit

o   Rosenthal sold 1,000 May corn 650 straddles at 20 ½ -21 ½

o   ABN bought 1,000 July corn 630 calls sold 1,000 Sept corn 630 calls at 12 debit

o   JP Morgan bought 2,500 May wheat 730/680 put spreads at 32-34 ¾

o   ADM bought 1,000 May meal 420 calls at 1.00

o   New Edge sold 500 Dec bean oil 50 calls at 200

Estimated Fund Activity

·         Wheat sold 5K

·         Corn sold 15K

·         Beans sold 7K

·         Meal sold 3K

·         Bean oil sold 4K

Closing vols and ATM straddles

 

Corn

N vol 22 650 str 20-21

M vol 23 630 str 37 ½ -39

N vol 25 630 str 53 ½ -55

U vol 29 560 str 76 ½ -79

Z vol 27 ¼ 530 str 88 ½ -90

H vol 25 ½ 540 str 99 ½ -101 ½

Beans

K vol 16 ½ 1400 str 33-34

M vol 17 ¾ 1360 str 63-65

N vol 18 ½ 1360 str 87-89

Q vol 20 ¼ 1320 str 111 ½ -114

U vol 20 ¼ 1240 str 119 ½ -122 ½

X vol 20 ¼ 1220 str 142-146

F vol 19 ½ 1220 str 155-159

H vol 19 ¼ 1220 str 171-175

K vol 19 1220 str 178-184

Wheat

K vol 27 ½ 690 str 26-27

M vol 26 ½ 700 str 47-49

N vol 26 ¾ 700 str 63-65

U vol 26 ¾ 700 str 90-91

Z vol 25 ¾ 720 str 114-116

H vol 24 730 str 127-132

Minneapolis wheat

K vol 19 ½ 800 str 20-27

N vol 22 790 str 48-58

U vol 23 790 str 76-86

Z vol 23 800 str 100-110

KC wheat

K vol 23 ½ 730 str 23-28

N vol 24 740 str 59-65

U vol 25 750 str 85-95

Z vol 25 770 str 113-121

Meal

K vol 21 390 str 12.5-14

M vol 20.75 390 str 21.5-23.5

N vol 21.75 390 str 28-30

Q vol 21.75 380 str 34-36

U vol 21.75 360 str 35.5-38.5

V vol 21.5 340 str 37-40

Z vol 21.25 340 str 44-47

Bean oil

K vol 16.75 48 str 105-120

M vol 17.25 48.5 str 205-225

N vol 17.5 48.5 str 270-290

Q vol 17.5 48.5 str 340-365

U vol 17.75 48.5 str 390-425

V vol 17.75 48 str 420-450

Z vol 17.5 48 str 500-525

Crush Quotes

 

                OPEN               CLOSE

MAY       EV-2                 EV-1

JLY          33.5-34            32.5-33

AUG       46-48                45-46

SEP         65-67                62.5-64

OCT        62.5-64.5         62-65

DEC         56-57                56-56.5

JAN         53-55.5             53-54

MCH       54-58                 53-55.5

Crush Players

·         Bunge sold 30 Sept at 66

·         Rosenthal bought 150 July at 35-37

Thank you,

Kate Rosenberg