From The Floor-An Afternoon Recap

News

  • Pakistan bought 55K tons of Ukraine milling wheat for August shipment
  • Philippines bought 45K tons of Black Sea origin wheat for October shipment
  • Egypt FIHC seeks 40K bean oil for September shipment
  • Xinhua News Agency said China found pests in US SRW wheat shipments
  • Brazil Trade Ministry said Brazil exported 5.66 MMT of beans in July vs. 6.5 MMT in June
  • Agritrend estimated Argentina’s ‘13/14 bean area at 20.0 MH vs. ‘12/13 area of 19.5 MMT
  • Agritrend estimated Argentina’s ‘13/14 bean crop at a record high 55.0 MMT vs. ‘12/13 bean crop estimate of 49.0 MMT and vs. ‘09/10 record bean crop of 52.7 MMT . USDA estimated Argentina’s ‘13/14 bean crop at 53.5 MMT
  • Agritrend estimated Argentina’s ‘13/14 corn area at 4.2-4.3 MH vs. 4.5 MH in ‘12/13
  • Agritrend estimated Argentina’s ‘13/14 corn crop at 25-26 MMT unchanged from ‘12/13 estimate
  • IGC estimated ‘13/14 global corn crop at 942.0 MMT vs. previous estimate of 946.0 MMT
  • IGC estimated ‘13/14 global what crop at 687.0 MMT vs. previous estimate of 683.0 MMT
  • IGC estimated China’s ‘13/14 wheat imports at 7.0 MMT vs. previous estimate of 3.5 MMT
  • IGC estimated EU ‘13/14 wheat crop at 141.5 MMT vs. previous estimate of 139.4 MMT
  • IGC estimated India ‘13/14 wheat crop at 92.5 MMT vs. previous estimate of 91.5 MMT
  • IGC estimated US corn crop at 350 MMT vs. previous estimate of 355.0 MMT
  • Concerns about the quality of the 2013 western European wheat crop
  • FO Licht estimate EU 2013 corn crop at 67.0 MMT vs. 59.0 MMT a year ago
    • Estimated France corn crop at 14.8 MMT vs. 15.6 MMT a year ago
    • Estimated Italy’s wheat crop at 8 MMT  vs. 8.2 MMT a year ago
    • Estimated Spain’s wheat crop at 4.4 MMT vs. 4.1 MMT a year ago
  • Russia’s Ag Min said as of July 31st Russia had harvested 36.5 MMT of grain up 6.5 MMT from a year ago , on 12.9 MH with an average yield of 2.82 TPH vs. 2.25 TPH a year ago .
  • Russia’s Ag Min said as of July 31st Russia had harvested 29.2 MMT of wheat up 7.4 MMT from a year ago , on 9.5 MH with an average yield of 3.07 TPH vs. 2.39 TPH a year ago
  • Ukraine Ag Min said as of July 31st 90% or 28.0 MMT of Ukraine’s wheat crop has been harvested. Average yield is 2.98 TPH vs. 2.48 TPH a year ago
  • Ukraine Ag Min estimated Ukraine’s 2013 grain crop at a record high of 57.1 MMT, including 28.0 MMT of corn, vs. previous estimate of 53-54 MMT and vs. 2012 grain crop of 46.2 MMT
  • Ukraine Ag Min estimated Ukraine’s August grain exports at 1.5-1.7 MMT vs. 1.2 MMT in July
  • Saskatchewan, Canada weekly crop progress report as of July 29th
    • 84% of the spring wheat crop is in good to excellent condition down 3% from a week ago
    • 82% of the canola crop is in good to excellent condition unchanged from a week ago
    • 88% of the durum wheat crop is in good to excellent condition
  • FAO estimated 2013 global rice crop at 746.4 MMT vs. previous estimate of 746.7 MMT up 1.4% from a year ago
  • Pakistan rice shipments are being rejected by the US due to pests
  • Dec corn made a new contract low today of 464.
  • Corn traded at the lowest level since October 2010
  • April 24th low in Nov beans was 1186 ½. The low in Nov beans today was 1189
  • Today was the last day of the Rogers roll. In the last minute of trade
    • Sept/Dec corn – 6,366 traded on the screen at 20 ½ and 250 traded in the pit at 20 ¼
    • Sept/Dec wheat – 3,751 traded on the screen at 12 ½ and 150 traded in the pit at 12 ½
  • US July unemployment comes out tomorrow at 730 am CDT
  • Weekly COT report comes out tomorrow at 230 pm CDT
  • Informa will be out either tomorrow or early next week with their crop estimates.
  • Open outcry option players – lots of activity in the option pits today.
    • Rand bought 1,000 Jan bean 1040 puts at 10 ¾-11
    • ABN sold 2,000 Nov bean 1280 puts at 94 ¼ and sold 1,440 Nov futures at 1204
    • Tenco bought 1,000 Sept short dated soybean 1150 puts at 10
    • ADM bought 500 Nov bean 1200 calls and sold 1,000 Nov bean 1300 calls at 20 debit
    • Tenco bought 1,000 Nov bean 1400 calls at 3 5/8
    • JP Morgan bought 2,500 Nov bean 1280 calls at 18 sold 650 Nov futures at 1197
    • Rand sold 2,000 Nov 1260 puts at 88 sold 1,400 Nov futures at 1194
    • JP Morgan bought 1,000 Dec corn 540 calls at 7 ½
    • ABN bought 1,000 Dec corn 460 straddles and sold 1,000 Dec corn 400 straddles at 22 ¼ debit
    • Rand bought 1,000 Dec corn 450/420 put spreads at 10 3/8
    • JP Morgan bought 1,000 Dec corn 560 calls at 5 ¼
    • Tenco bought 3,500 Dec corn 430 puts at 9 ¾ -10 ¼
    • FI sold 2,000 Sept short dated corn 450/500 put spreads at 26 and 31 ½
    • FI sold 2,000 Sept short dated corn 450/480 put spreads at 13 and 15 ¼
    • FI bought 1,000 Sept short dated corn 460 puts at 8 ½
    • Rosenthal sold 4,000 Dec corn 500/510 put spreads at 7 ½
    • ICap bought 1,000 Dec corn 570 calls and sold 1,000 Dec corn 430 put combos at 7 credit
    • ADM bought 1,000 July wheat 650 puts and sold 1,000 Dec wheat 650 puts at 19 ¼
    • ABN bought 500 Sept wheat 660 calls at 11
    • Rosenthal bought 600 Sept meal 480 calls at 1.00
    • Rosenthal bought 1,000 Sept meal 500 calls at 1.00
    • Tenco bought 700 Sept bean oil 43 calls at 60-70

 

Estimated Fund Activity

  • Wheat sold 2K
  • Corn sold 15K
  • Beans sold 6K
  • Meal sold 3K
  • Bean oil bought 2K

 

Closing vols and ATM straddles

 

Corn

U vol 26 490 str 24-26

V vol 25 ¾ 470 str 35-36

X vol 25 470 str 45-47

Z vol 25 ¼ 470 str 52-53

H vol 24 ¾ 480 str 70-71 ½

K vol 24 ¼ 490 str 79-81

Z14 vol 21 500 str 93-95

 

Beans

U vol 22 ¼ 1240 str 54-56

V vol 20 ¾ 1200 str 72-75

X vol 20 ¼ 1200 str 93-95

F vol 19 ½ 1200 str 117-123

H vol 19 ¾ 1200 str 138-145

K vol 19 ¾ 1200 str 156-160

N vol 18 ¾ 1200 str 164-170

 

Wheat

U vol 20 660 str 26-28

V vol 20 ¾ 670 str 40-42

Z vol 21 ¼ 670 str 63-64

H vol 22 680 str 88-90

K vol 22 ¼ 690 str 102-106

N vol 22 ¼ 680 str 112-115

 

KC Wheat

U vol 20 ¼ 710 str 27-30

V vol 20 ¾ 720 str 42-45

Z vol 21 ¼ 720 str 66-69

H vol 21 ¼ 730 str 90-94

 

Minneapolis wheat

U vol 17 ¼ 740 str 23-27

Z vol 18 ¾ 750 str 58-64

H vol 19 ¼ 760 str 81-88

 

Meal

U vol 31.5 400 str 25-27

V vol 27.5 360 str 29-32

Z vol 24.5 360 str 38-40

F vol 23.5 360 str 42-45

H vol 22.25 360 str 47-51

K vol 21.25 360 str 50-55

 

Bean oil

U vol 17.5 42.5 str 140-155

V vol 17 42.5 str 205-225

Z vol 16.25 43 str 290-310

F vol 16 43 str 330-360

H vol 16 43.5 str 390-430

K vol 16 43.5 str 440-480

 

Crush quotes

 

OPEN                 CLOSE

AUG      40-50                  40-50

SEP         1.085-1.10        1.08-1.110

OCT        74.5-76              74-75

DEC         68.5-69              69.5-70

JAN         66.5-67              66-68

MCH       66.5-67              67.5-68

MAY        67-68                 67.5-69

JLY           68.5-69              69.5-70

 

Crush player

 

ABN sold 20 Dec at 36.5

 

Oil Share players

 

FI sold 25 Dec oil/18 Dec meal at 37.20%

 

Knight sold 20 Dec oil/meal at 37.20

 

 

Thank you,

 

Kate Rosenberg