From the Floor – An Afternoon Recap 6/12/13

News

·         Bulgaria Ag Min estimated 2013 wheat crop at 4.7-4.8 MMT vs. 4.4 MMT in 2012

·         Bulgaria Ag Min estimated 2013 barley crop at 700-800K vs. 650K a year ago

·         Bulgaria Ag Min estimated 2013 wheat exports at 2.0 M

·         Anacer said Italy imported 920,343 tons of corn between January – March vs. 588,831 tons a year ago

·         Anacer said Italy imported 771,065 tons of soft wheat between January – March vs. 1.147 MMT a year ago

·         Anacer said Italy imported 127,380 tons of durum wheat between Jan-March vs. 266,866 tons a year ago

·         Weekly US jobless claims report comes out tomorrow at 730 am CDT

·         Weekly US export sales report comes out tomorrow at 730 am CDT expecting

o   Wheat 400-650K

o   Corn 200-400K

o   Beans 300-700K

o   Meal 125-300K

o   Bean oil 10-20K

·         Weekly EIA Nat Gas storage report comes out tomorrow at 930 am CDT expecting +95 B

·         Today is the 4th day of the Goldman Sachs roll. Roll ends tomorrow. In the open outcry market

o   Wheat sold 300 N/U spreads at 8 ¼-8

o   Corn sold 1,500 N/U spreads at 76

o   Beans sold 550 N/X spreads at 128-126

o   Meal  sold 200 N/Z spreads at 70

o   Bean oil  sold 1,800 N/Z spreads at 71-66

·         Open outcry option players

o   Tenco bought 1,250 Nov 1100/1200 put spreads at 18 ¾ (before report)

o   JP Morgan sold 600 July bean 1500 puts at 6-6 ½ (after report)

o   RJO bought 2,000 Dec corn 550/530 put spreads at 10 ¼ -10 3/8 (before report)

o   Tenco bought 500 Dec corn 530 puts and sold 1,000 Dec corn 450 puts at 16 7/8-17 and bought 76 Dec futures at 547 (before report)

o   FI bought 4,000 short dated Sept corn 500/480 put spreads at 4 7/8-5 (before report)

o   ABN sold 1,100 July/Dec corn CSO 120 puts at 14 ½ and sold 660 July/Dec future spreads at 113 ½ (before report)

o   ABN sold 900 July/Dec corn CSO 130 puts at 21 sold 640 July/Dec future spreads at 113 ½ (before report)

o   Macquarie bought 1,000 July corn 650 calls at 11 ¼ and sold 550 July futures at 652 ½ (after report)

o   Knight bought 750 Sept bean oil 46 puts at 75 and bought 200 Aug bean oil 49 calls at 85  15×4 ratio (before report)

Estimated Fund Activity

·         Wheat sold 4K

·         Corn sold 9K

·         Beans sold 4K

·         Meal sold 2,500

·         Bean oil bought 3K

Closing vols and ATM straddles

 

Corn

N vol 24 ¾ 650 str 19 ½-21

Q vol 32 580 str 50 ½-52

U vol 31 ½ 580 str 64 ½-65

Z vol 28 540 str 80-81

H vol 26 550 str 93 ½-95

Beans

N vol 22 1540 str 44-46

Q vol 23 ¾ 1450 str 95-97

U vol 24 ½ 1360 str 117-120

X vol 23 ¼ 1320 str 148-150

F vol 21 1320 str 161-164

Wheat

N vol 21 680 str 18-20

Q vol 25 ½ 690 str 48-50

U vol 25 690 str 61-63

Z vol 24 ¾ 700 str 91-93

H vol 23 ¼ 720 str 111-114

K vol 22 5/8 730 str 131-139

No Minneapolis wheat info today

 

KC Wheat

N vol 20 720 str 17-20

U vol 23 ½ 720 str 58-64

Z vol 22 ½ 740 str 86-93

H vol 22 750 str 104-112

Meal

N vol 27.5 460 str 16.5-18.5

Q vol 27.5 430 str 32.5-34.5

U vol 27 410 str 38-41

V vol 26 390 str 42-44

Z vol 25.5 390 str 52.5-54

F vol 24.75 390 str 53-57

Bean oil

N vol 16.5 48 str 90-105

Q vol 17.75 48 str 225-240

U vol 17.75 48 str 285-310

V vol 17.75 47.5 str 340-365

Z vol 17.75 47.5 str 430-460

F vol 17.25 47.5 str 460-500

Crush Quotes

 

             OPEN            CLOSE

JLY        9-11               3-4

AUG    28.5-29         28.5-30

SEP       70-72            70.5-72

OCT      71.5-73.5     69.5-71.5

DEC      64.5-65.5      65-65.5

JAN      61-62             59-61

MCH    64-65             63-65

MAY     64-66             62-65

Crush player

 

Knight bought 40 Dec crush at 63.5

Oil Share player

 

Rosenthal sold 200 Dec oil/100 meal at 37.80-37.85

Thank you,

Kate Rosenberg