From The Floor-An Afternoon Recap

News

  • Reminder – Grain markets both electronic and open outcry do not begin trading again until Friday July 5th at 830 am CDT – see attachment for 4th of July trading hours schedule
  • Lanworth estimated the ‘13/14 US corn crop at 13.9 BB vs. previous estimate of 13.7 BB
  • Lanworth estimated the ‘13/14 US corn yield at 158.9 BPA
  • Lanworth estimated the ‘13/14 US bean crop at 3.36 BB vs. previous estimate of 3.34 BB
  • Lanworth estimated ‘13/14 global corn crop at 961 MMT
  • Lanworth estimated ‘13/14 global bean crop at 294.0 MMT
  • Lanworth estimated ‘13/14 global wheat crop at 692.0 MMT
  • Lanworth estimated Russia’s ‘13/14 wheat crop at 51.1 MMT down 2% from their previous estimate
  • Lanworth estimated Ukraine ‘13/14 wheat crop at 24.2 MMT down 6% from previous estimate
  • Algeria seeks 50K feed barley for August shipment – optional origin
  • French port union workers announced they will stage a 24 hour strike tomorrow
  • Nov beans closed below the 50 day moving average of 1257 ¼ and below the 100 day of 1255 ¼ . Nov beans settled at 1250 ¾
  • ECB meets tomorrow
  • ECB president to hold press conference tomorrow
  • June US unemployment comes out on Friday at 730 am CDT
  • Weekly US jobless claims comes out on Friday at 730 am CDT
  • Weekly US export sales report comes out on Friday at 730 am CDT expecting
    • Wheat 400-800K
    • Corn 250-500K
    • Beans 200-500K
    • Meal 50-125K
    • Bean oil 0-10K
  • Open outcry option players
    • GFI bought 500 Aug bean 1500 calls at 9 ¾
    • Tenco bought 700 May bean 1100 puts at 27 and bought 140 May futures at 1257
    • Rosenthal sold 500 Nov bean 1220/1200 put spreads at 8
    • Rand bought 1,000 Sept corn 500 puts and sold 1,000 Sept short dated corn 500 puts at 9 ½-10 credit
    • Tenco bought 1,000 March corn 440 puts at 13
    • Macquarie sold 4,000 Sept corn 490/485 put spreads at 1 1/8 and sold 120 Sept futures at 529
    • Citi Group bought 2,000 Dec corn 690 calls at 3 ¼
    • FI bought 1,000 Dec corn 500 puts at 32 ¾ -32 7/8
    • GFI bought 800 Sept wheat 680/710 call spreads at 8 ¾-9
    • New Edge bought 750 Dec KC wheat 640 puts and sold 750 Dec Chicago 600 puts at even money
    • New Edge bought 1,000 Dec Chicago wheat 700 calls sold 1,000 Dec Chicago wheat 750 calls bought 500 Dec KC 700 calls and sold 500 Dec KC 650 calls at even money
    • Rosenthal sold 900 Dec meal 360 puts at 17.25-18.00
    • ADM sold 800 Dec bean oil 46 puts at 195

 

Estimated Fund Activity

  • Wheat bought 2K
  • Corn bought 2K
  • Beans bought 4K
  • Meal bought 1K
  • Bean oil bought 2K

 

Closing vols and ATM straddles

 

Corn

Q vol 27 535 str 29-30

U vol 27 ¾ 535 str 44-45

V vol 27 ½ 505 str 51-52

Z vol 27 ¼ 500 str 67 ½-68

H vol 26 ¼ 510 str 84 ½ -86

 

Beans

Q vol 18 1440 str 53-54 ½

U vol 20 1300 str 77-79

V vol 20 1250 str 91 ½-94

X vol 20 1260 str 112-113

F vol 19 ¼ 1260 str 132-135

H vol 19 1260 str 148-152

K vol 18 ¾ 1260 str 163-168

N vol 18 1240 str 170-176

X vol 16 ¾ 1240 str 182-190

 

Wheat

Q vol 26 640 str 34-36

U vol 27 ¼ 670 str 53-55

Z vol 26 ½ 680 str 87-89

H vol 25 ¾ 690 str 110-114

K vol 24 ¾ 700 str 120-124

N vol 23 ½ 700 str 125-132

 

Minneapolis wheat

U vol 21 ¾ 770 str 46-53

Z vol 22 ¼ 780 str 79-88

H vol 21 800 str 95-110

 

KC Wheat

Q vol 23 700 str 32-35

U vol 24 700 str 50-54

Z vol 24 ¼ 720 str 86-89

 

Meal

Q vol 24.5 430 str 22-24

U vol 26 400 str 31-33

V vol 25.25 370 str 34-36

Z vol 24.5 370 str 44.5-46.5

F vol 23.25 370 str 46.5-49.5

H vol 21.5 370 str 50-54

 

Bean oil

Q vol 17.5 47 str 150-155

U vol 17.75 46.5 str 23

V vol 17.5 46 str 280-300

Z vol 17.5 46 str 375-385

F vol 17.25 46 str 410-440

H vol 17.25 46 str 475-500

 

Crush quotes

 

OPEN            CLOSE

JLY        5-15               10-20

AUG    29-30             30-31.5

SEP       83.5-84         86.5-87.5

OCT      71-72.5         72.5-74

DEC      62.5-63.5      65.5-66

JAN      59.5-61          62-63.5

MCH    61.5-64          63-65.5

MAY    62.5-65          62,5-65

 

Crush players

 

RJO bought 60 Aug crush at 30

 

RJO sold 100 Sept crush at 86.5

 

 

Thank you,

 

Kate Rosenberg