From The Floor-An Afternoon Recap

News

  • Hearing Dr. Cordonnier left his 2013 US corn yield unchanged at 153.0 BPA
  • Hearing Dr. Cordonnier left his 2013 US bean yield unchanged at 42.0 BPA
  • Taiwan Sugar Corp seeks 23K US corn and 12K US beans for August shipment
  • UAC (Ukrainian Agrarian Confederation) estimated Ukraine’s 2013 grain crop at 55-58 MMT vs. 46.0 MMT in 2012.
  • UAC estimated Ukraine’s 2013 grain exports at 27-29 MMT
  • Oil World 2013 Rapeseed Crop Estimates
    • EU at 20.4 MMT vs. previous estimate of 19.72 MMT and vs. 2012 crop of 19.41 MMT
    • Germany at 5.75 MMT vs. previous estimate of 5.50 MMT and vs. 2012 crop of 4.82 MMT
    • France at 5.0 MMT vs. previous estimate of 4.9 MMT and vs. 2012 crop of 5.48 MMT
    • Britain at 2.0 MMT vs. 2.56 MMT in 2012
    • Poland at 2.35 MMT vs. 1.90 MMT in 2012
    • Czech Republic at 1.23 MMT vs. 1.1 MMT in 2012
    • Romania at 450K tons vs. 160K tons in 2012
    • Bulgaria at 380K tons vs. 290K tons in 2012
    • Ukraine at 2.0 MMT vs. 1.3 MMT in 2012
  • More Conab Brazilian crop estimates
    • ’12/13 corn crop at 79.1 MMT vs. previous estimate of 78.1 MMT
    • ’12/13 corn exports at 15.0 MMT unchanged from previous estimate and vs. 22.3 MMT in ’11/12
    • ’12/13 bean crop at 81.5 MMT vs. previous estimate of 81.3 MMT
    • ’12/13 bean exports estimated at 37.8 MMT vs. previous estimate of 36.78 MMT and vs. 32.5 MMT a year ago
    • ’13/14 wheat crop estimated at 5.61 MMT vs. previous estimate of 5.56 MMT
    • ’12/13 cotton crop estimated at 1.3 MMT vs. 1.9 MMT a year ago
    • Conab will not officially release ’13/14 bean and corn crop estimates until October but Conab is predicting a record large bean crop of 82.0 MMT and a corn crop of 72.0 MMT
  • Hearing reports of vomitoxin in SRW US wheat
  • Weekly API energy inventory report came out today at 330 pm CDT ( will have the report in tomorrow’s morning email)
  • Brazilian dock workers strike tomorrow.
  • FOMC will read the minutes from the 6/18-6/19 meeting tomorrow.
  • Surveyors SGS and Intertek Agri Services come out with July 1-10 Malaysian export estimates tomorrow
  • Malaysia Palm Oil Board comes out tomorrow with their June data report. Based on a Reuters survey here are estimates for the report
    • Palm oil output average estimate is 1.47  MMT vs. May output of  1.384 MMT
    • Palm oil stocks average estimate is 1.74 MMT vs. May stocks of 1.816 MMT
    • Palm oil exports average estimate is 1.45 MMT vs. May exports of  1.412 MMT
  • Weekly DOE numbers come out tomorrow at 930 am CDT expecting
    • Crude a draw of 3.1 MB
    • Gas a build of 1.0 MB
    • Distillates a build of 1.0 MB
  • Weekly US ethanol plant production report comes out tomorrow at 930 am CDT

 

Open outcry option players

 

Beans

RJO bought 1,000 Nov 1340 calls at 30 1/4-31 1/2

Mizuho bought 1,000 Nov 1200 puts at 32-32 1/4

Mizuho bought 600 Nov 1160 puts at 19-19 1/2

 

Corn

FI bought 5,000 Sept short dated 500 puts at 14 1/2 – 18 – My broker said this is short covering

FI bought 6,000 Sept short dated 480/450 put spreads at 5 1/2 – 5 3/4 – My broker believes this is a new position

JP Morgan sold 1,500 Sept 500/550 put spreads at 19 3/4 -20

Tenco bought 1,500 Sept short dated 485 puts at 11 3/8-11 7/8

Tenco bought 1,000 Dec 420 puts sold 500 Dec 510 calls at 24 5/8 credit and bought 350 Dec futures at 509

Macquarie bought 1,000 March 580c/450p combos at 10 1/4 debit and sold 550 March futures at 521

Tenco bought 1,000 Aug 520 puts at 5 3/4-5 7/8

ABN bought 1,600 Dec 380 puts bought 1,600 Dec 400 puts and sold 3,200 Dec 430 puts at 8 credit

Rosenthal sold 1,000 Dec 570 calls at 18 1/8

Rosenthal bought 1,000 Dec 490 puts at 22 1/2-24 1/4

Macquarie sold 1,500 Sept 600 calls at 9 1/2

Local house 314 bought 1,000 Sept 560/530 put spreads at 15 1/4 and bought 200 Sept futures at 551

Jefferies bought 1,000 Sept 530 puts at 15 1/2

FC Stone bought 1,000 Aug 540 puts and sold 250 March 560 calls at 8 debit

Rosenthal sold 1,000 Dec 520 straddles at 73 3/4 -74 3/8

 

Wheat

Rand bought 1,000 Aug 720 calls at 4 1/2 -5

 

Meal

ABN bought 2,500 Dec 320 puts at 4.25-5.00


 

 

Estimated Fund Activity

Wheat bought 7K

Corn bought 20K

Beans bought 10K

Meal bought 5K
Bean Oil bought 1K

 

 

Closing vols and ATM straddles

 

Corn

Q vol 31 550 str 30-32

U vol 31 550 str 48-49 1/2

V vol 29 1/2 520 str 54-56

Z vol 29 1/4 520 str 74-75

H vol 28 530 str 92 1/2-94 1/2

K vol 26 3/4 540 str 101-104

 

Beans

Q vol 20 1/2 1470 str 52-54

U vol 21 1320 str 78-80

X vol 21 1280 str 116-118

F vol 20 1280 str 138-141

H vol 19 1/2 1280 str 154-157

K vol 19 1280 str 170-173

 

Wheat

Q vol 27 680 str 31-34

U vol 27 680 str 51-54

Z vol 27 690 str 89-91

H vol 25 3/4 700 str 110-113

K vol 24 3/4 710 str 122-127

N vol 24 1/4 710 str 128-135

 

Minneapolis wheat

U vol 22 1/2 770 str 45-51

Z vol 23 780 str 83-89

H vol 22 790 str 97-112

 

KC Wheat

Q vol 24 700 str 27-31

U vol 24 3/4 700 str 49-52

Z vol 25 720 str 87-91

 

Meal

Q vol 25.5 450 str 20.5-22

U vol 26.25 410 str 30-32

V vol 25.50 380 str 34-36

Z vol 24.50 380 str 45-47

F vol 23 380 str 47-51

H vol 22 380 str 51-56

 

Bean Oil

Q vol 17 47 str 130-145

U vol 17.25 46.5 str 210-225

V vol 17 46 str 265-285

Z vol 17 46 str 360-380

F vol 16.75 46 str 400-425

H vol 16.75 46 str 460-490

 

Crush Quotes

 

 
Open                                   Close

July        even bid to 55a                 no trade

Aug        33-33.75                               37-37.5

Sep       88.5-89.5                              90.5-92

Oct        72-73                                     71-73

Dec       64.25-64.75                         63.5-64.5

Jan        61.5-62.5                              61-62.5

Mch        63.5-64.5                              64.5-65

May        63.5-64.5                              64.5-66

 

Crush Player


 

Knight sold 80 Aug at 33.5-33.75

 

 

 

 

Thank you,

 

Kate Rosenberg