From The Floor-An Afternoon Recap

News

  • Lanworth estimated US 2013 bean crop at 3.140 BB with an average yield of 40.8 BPA down 2% from their previous estimate
  • Lanworth estimated US 2013 corn crop at 13.406 BB with an average yield of 152.4 BPA down 4% from their previous estimate
  • Lanworth estimated Ukraine’s 2013 corn crop at 25.6 MMT down 5% from their previous estimate
  • Lanworth estimated China’s 2013 corn crop at 208.0 MMT down 1% from their previous estimate
  • Toepfer estimated EU 2013 wheat crop at 134.6 MMT vs. 125.7 MMT in 2012
  • Toepfer estimated Romania 2013 wheat crop at 7.44 MMT vs. 2012 crop of 5.75 MMT
  • Toepfer estimated Hungary’s 2013 wheat crop at 4.93 MMT vs. 2012 crop of 3.94 MMT
  • Toepfer estimated Bulgaria’s 2013 wheat crop at 4.95 MMT vs. 2012 crop of 4.56 MMT
  • Analysts estimated French 2013 wheat crop at 37.0-37.5 MMT vs. official French estimates of 36.0 MMT and vs. 2012 crop of 35.6 MMT
  • Argentine soybean crushers started at 2 day strike today in Rosario
  • TALK China has already bought 5.0-7.5 MMT of Brazilian new crop soybeans.
  • Tunisia bought 84,000 tons of optional origin soft wheat and 75,000 tons of optional origin feed barley for Sept/Nov shipment
  • Kazakhstan Ag Min said Kazakhstan has exported 760,700 tons of grain between July 1st – Aug 20th vs. 1.273 MMT a year ago
  • Dec KC wheat closed   the 50 day moving average of 715. Dec KC wheat settled at
  • Dec bean oil closed   the 50 day moving average of 4444. Dec bean oil settled at
  • CME raised margins on corn, beans, meal, and bean oil this afternoon.
  • China to auction 500K tons of beans from reserves tomorrow
  • 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
    • Wheat 350-575K
    • Corn 200-500K
    • Beans 500-800K
    • Meal 35-100K
    • Bean oil 0-20K
  • US 2nd quarter GDP comes out tomorrow at 730 am CDT
  • Weekly EIA Nat Gas storage report comes out tomorrow at 930 am CDT expecting +62 B
  • Tomorrow is position day for Sept futures . Traders should be out of long positions by the close tomorrow or risk delivery . Early expectations for deliveries are
  • Open outcry option players
    • FI bought 1,250 Nov bean 1300/1260 put spreads at 8 ¾ -9 ¼
    • FI bought 500 Nov bean 1300 puts and sold 1,000 Nov bean 1200 puts at 10 ¼ debit
    • Mizuho bought 700 Nov bean 1400/1460 call spreads at 18 ¼-18 ¾
    • Rand sold 700 Nov bean 1500 calls at 15 ½-16
    • Morgan Stanley bought 1,000 Oct soybean 1420 calls at 24 and sold 340 Nov bean futures at 1377
    • Rand bought 2,000 Nov bean 1360 puts at 48 and bought 900 Nov futures at 1371
    • ADM bought 2,000 Oct corn 480/460 put spreads at 8
    • Rand sold 1,000 Oct corn 485 straddles at 34 ¼ -34 ¾
    • RJO bought 2,000 Oct corn 480/440 put spreads at 11 ¾-12
    • ABN bought 1,000 Oct corn 480/440 put spreads at 10 ¾
    • ICap sold 2,000 Oct corn 450p/510c strangles at 12
    • FI bought 1,000 Dec corn 460 puts at 16 3/8
    • Tenco sold 500 Dec meal 380 puts at 6.25 tied to futures at 431.50
    • Rosenthal sold 500 Oct bean oil 44/45 call spreads at 45
    • Tenco bought 800 Dec bean oil 51 calls at 13
    • FC Stone sold 1,000 Dec bean oil 51 calls at 13
    • Mizuho sold 1,000 Dec bean oil 44 puts at 100-102
    • Beans 0-50 , 0 receipts are registered
    • Meal 0 , 0 receipts are registered
    • Bean oil 1K-2K, 8,791 receipts are registered
    • Corn 0-7, 7 receipts are registered
    • Wheat 0-300, 256 receipts are registered

 

Estimated Fund Activity

  • Wheat sold 1,500
  • Corn sold 5,000
  • Beans bought 4,000
  • Meal bought 1,000
  • Bean oil bought 2,000

 

Closing vols and ATM straddles

 

Corn

V vol 33 480 str 32 ½-33 ½

X vol 30 480 str 45 ½-47

Z vol 28 480 str 51 ½ -52 ½

H vol 26 490 str 70-71 ½

K vol 25 500 str 79-81

Z14 vol 22 510 str 97-100

 

Beans

V vol 28 1370 str 78-80

X vol 24 ¾ 1370 str 106 ½-108 ½

Z vol 23 1370 str 118 ½-122

F vol 21 1360 str 129-131

H vol 19 1350 str 139-144

K vol 18 ¼ 1320 str 152-157

N vol 17 ½ 1310 str 160-166

 

Wheat

V vol 22 ¾ 660 str 29-32

X vol 23 660 str 47-49

Z vol 22 ¾ 660 str 57-59

H vol 22 ¾ 670 str 83-86

K vol 23 680 str 98-102

N vol 23 670 str 109-113

 

Minneapolis wheat

Z vol 19 740 str 49-56

H vol 19 ¼ 750 str 76-83

K vol 19 ½ 760 str 88-98

 

KC wheat

V vol 21 710 str 29-31

X vol 21 710 str 47-49

Z vol 21 710 str 57-59

H vol 21 ¼ 720 str 82-87

 

Meal

V vol 36 440 str 33-34.5

X vol 32 430 str 43-46

Z vol 29 430 str 46-48

F vol 26 430 str 48-52

H vol 24 420 str 53-56

K vol 22 400 str 52-57

 

Bean oil

V vol 18 4450 str 150-170

X vol 17.75 4450 str 235-265

Z vol 17 4450 str 275-295

F vol 16.25 4450 str 325-350

H vol 16.25 45 str 375-410

K vol 16.25 45 str 450-480

 

Crush quotes

 

OPEN              CLOSE

SEP            76-81              65-72

OCT            69-70             67-67.5

DEC            66.5-67          64-64.5

JAN            66.5-67          65-66

MCH          67-68.5          67-67.5

MAY           65-66             65.5-67

JLY               65.5-66         66.5-67.5

 

 

Crush players 

 

Knight sold 50 XUU at 1.30

 

Tenco sold 50 XUU at 1.30

 

Oil Share Players

 

ADM sold Jan –  276 oil/189 meal at 34.40%

 

ABN bought March 100 oil / 72 meal at 35.10-35.15%

 

Thank you,

 

Kate Rosenberg