From The Floor-An Afternoon Recap

News
· TALK Egypt private buyers are seeking soft red wheat
· Jordan bought 50K optional origin barley for May/July shipment
· Morocco received no offers in tender to buy 160K US durum wheat for May shipment
· DERAL (Department of Rural Economics) Parana (Brazil) bean harvest is 82% complete
· DERAL said Parana bean planting area is 4.4 MH
· DERAL estimated Parana’s bean crop at 15.2 MMT up 41% from a year ago
· DERAL said 70% of the full season corn harvest is complete and estimated the crop at 6.84 MMT up 4% from a year ago
· DERAL estimate Parana’s safrinha corn crop at 11.3 MMT and said 96% has been planted
· IMEA (Mato Grosso Institute of Agricultural Economics) said Mato Grosso has sold 20% of the safrinha corn crop vs. 45% sold a year ago
· Unemployment comes out tomorrow at 730 am CST
· Goldman Sachs roll begins tomorrow . Goldman Sachs roll is 5 days and they will be rolling long May positions into July.
· Weekly COT report comes out tomorrow at 230 pm CST
· Open outcry option players
o Tenco sold 500 Nov bean 1000 puts at 8 ½ and sold 40 Nov futures at 1225
o ADM sold 700 Nov bean 1280/1240 put spreads at 24 ¾
o ADM bought 1,000 July bean 1400 calls at 23-25
o Tenco bought 700 Nov bean 1500 calls at 12 ¾ -14
o Advantage sold 3,000 Dec corn 480p/600c strangles at 41 -41 3/8 (I had Barclays selling these yesterday , but it was Advantage . They sold 8K the past two days)
o Macquarie bought 1,000 July corn 650/700 call spreads at 11 ½
o New Edge sold 1,000 May corn 670/700 puts spreads at 28
o ADM bought 2,000 May corn 640 straddles at 24 ¾ -25 ½
o ABN bought 1,500 short dated July corn 520 puts at 13 ½
o ABN sold 1,500 May corn 640 puts at 17-18 ¾
o ABN bought 2,000 May corn 650 calls at 5 ¼ – 6 ½
o Jefferies bought 2,000 May corn 690 puts sold 2,000 July 640 puts at 20 debit
o RJO bought 4,000 Dec corn 400 puts at 4 1/8 (Rand bought 10,000 of these this week they paid 4)
o Jefferies bought 3,500 July corn 620/630 call spreads at 4 ¼
o RJO sold 1,000 July 610 calls at 30 ¼ -30 ½
o ABN bought 2,000 Dec corn 630 calls at 15 ½
o ADM sold 600 Dec wheat 720 puts at 58 ½ -59 ½
o ADM bought 600 July wheat 700 calls at 32 ¾ – 33 ½
o Tenco bought 1,200 June wheat 740 calls sold 200 July wheat 700
straddles at 1 ½ credit tied to July futures at 695
Macquarie bought 700 July wheat 700 straddles at 66-67
o FI sold 400 Dec meal 350-360-380-390 call condors at 1.50 credit
o ADM bought 500 May meal 430 puts at 35-36.50
o Mizuho sold 500 July bean oil 50 calls at 95-105
o New Edge sold 500 May bean oil 49.5/48 put spreads at 85
o RJO sold 500 May bean oil 48/50 put spreads at 120

Estimated fund activity
· Wheat sold 4K
· Corn sold 15K
· Beans sold 5K
· Meal sold 1K
· Bean oil sold 4K

Closing vols and ATM straddles

Corn
K vol 20 ½ 630 str 26-26 ½
M vol 21 ½ 620 str 39-40
N vol 23 ½ 620 str 53-54
U vol 27 ¾ 560 str 76-77 ½
Z vol 25 ½ 540 str 87-88
H vol 24 ½ 550 str 99-101

Beans
K vol 16 ½ 1370 str 44-46
N vol 17 ½ 1360 str 86-88
X vol 20 1240 str 147-149

Wheat
K vol 24 ¾ 690 str 33-35
M vol 25 ½ 690 str 51-54
N vol 26 700 str 66-68
U vol 26 ½ 710 str 92-94
Z vol 25 ¾ 720 str 116-118
H vol 24 740 str 127-133

Minneapolis wheat
K vol 18 ½ 790 str 26-34
N vol 20 ¼ 790 str 55-64
U vol 22 790 str 81-91
Z vol 21 ¾ 800 str 105-115

KC Wheat
K vol 23 ½ 720 str 32-38
N vol 24 ¼ 730 str 62-70
U vol 25 740 str 88-96
Z vol 25 760 str 115-125
H vol 23 ½ 760 str 122-135

Meal
K vol 21 400 str 16.5-17.5
M vol 21.25 390 str 24.5-26.5
N vol 21.5 390 str 31-33
Q vol 21.75 380 str 36-39
U vol 21.75 360 str 39-42
V vol 22 350 str 41-44
Z vol 20.5 340 str 44-47

Bean oil
K vol 16.75 48.5 str 150-170
M vol 17 49 str 230-250
N vol 17 49 str 290-310
Q vol 17.25 49 str 355-380
U vol 17.5 49 str 400-430
V vol 17 ½ 48.5 str 440-470
Z vol 17.75 48.5 str 520-55

Crush quotes
Open Closes
May 35-35.5 May 35.5-36.5
July 53.25-53.5 53.5-54
Aug 57-59 56-59
Sep 69-70.25 68-70
Oct 67-67.75 67-68.5
Dec 61.5-62.0 60-61.5
Jan 60.5-61.25 59-61.5
Mch 62-63 60-62.5
May 62-63 60-62.0

Crush players
FI sold 100 July at 52.5-53
Tenco sold 50 July at 53
ADM bought 100 Oct at 65
ADM bought 100 Dec 60.5

Thank You,

Kate Rosenberg