From The Floor-An Afternoon Recap

News

  • Lack of news. – FYI Jon Karmin, our bean option broker did not put out an bean option recap today.
  • Argentine Ag Min estimated ‘13/14 wheat area at 3.4 MH vs. previous estimate of 3.9 MH due to dry conditions
  • Argentine Ag Min estimated ‘13/14 corn area at 5.7 MH down 6.6% from ‘12/13
  • Nov beans filled gap at 1331 ½ , but found support at 1331 ¼ . There was no follow thru to the downside.
  • Saskatchewan , Canada grain harvest is 55% complete as of Sept 16th vs. 44% average
  • Surveyors SGS and Intertek Agri Services come out tomorrow with their Malaysian palm oil Sept 1-20th export estimates
  • October options expire tomorrow at 115 pm CDT
  • Weekly COT report comes out tomorrow at 230 pm CDT
  • Open outcry option players
    • Tenco bought 1,000 Nov bean 1320-1360 call spreads at 20 ½ -20 ¾
    • Bunge sold 1,000 Nov bean 1290/1390 call spreads at 49 ½-50
    • Bunge bought 1,000 Oct bean 1340 calls at 5 ¼ -6
    • ABN bought 3,000 Dec corn 375 ,400, 425 put butterflies at 2 debit (they bought 3,000 of the 375 and 425 puts and sold 6,000 of the 400 puts )
    • ABN bought 3,000 Oct corn 450 puts at ¾
    • Tenco sold 1,000 May corn 400 puts at 5 7/8
    • FC Stone sold 1,000 March corn 450/470 put spreads at 8 5/8 -9
    • JP Morgan sold 1,400 Dec corn 350/400 put spreads at 1 ¼-1 3/8
    • JP Morgan sold 1,000 Dec wheat 680 calls at 16 ½ and bought 400 Dec futures at 661
    • FI bought 1,300 Nov wheat 660 puts at 5 1/8 tied to futures at 658 ½
    • JP Morgan bought 1,000 Dec meal 390 puts at 5.00-5.50
    • GFI bought 1,700 Dec meal 400 puts at 8.25-8.50
    • ADM bought 500 Nov meal 450 calls at 5.00
    • ADM bought 500 Nov meal 440 calls at 6.75
    • New Edge sold 1,000 Dec bean oil 43-42 put spreads at 43
    • Bunge bought 500 Dec bean oil 45 calls at 50
    • Rosenthal sold 500 Dec bean oil 45 calls at 50
    • Bunge bought 500 Dec bean oil 44.50 calls at 60

 

Estimated fund activity

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

 

Closing vols and ATM straddles

 

Corn

V vol 22 ½ 460 str 4 ½-6 ½

X col 23 460 str 26 ½-27 ½

Z vol 22 ¼ 460 str 34-35

H vol 21 ¼ 470 str 51 ½ -53

K vol 21 ½ 480 str 62-64

Z 14 vol 20 ¾ 500 str 88-90

 

Beans

X vol 21 ¼ 1340 str 70-71

F vol 19 1340 str 105-107

H vol 19 ¼ 1320 str 130-132

K vol 18 ½ 1300 str 146-149

N vol 18 ¼ 1300 str 160-163

 

Wheat

V vol 22 ¼ 660 str 8-10

X vol 21 ¼ 660 str 34-37

Z vol 21 660 str 45-48

H vol 21 ¾ 670 str 75-77

K vol 22 670 str 90-92

N vol 22 670 str 99-102

 

KC wheat

V vol 19 ½ 700 str 7-9

X vol 19 ½ 700 str 33-36

Z vol 19 ¾ 700 str 45-48

H vol 20 ¼ 710 str 72-76

N vol 21 700 str 98-103

 

Minneapolis wheat

Z vol 17 710 str 38-44

H vol 18 720 str 60-67

K vol 18 ½ 730 str 77-85

N vol 19 730 str 88-98

 

Meal

V vol 35 420 str 4.00-8.00

X vol 30.5 420 str 26-28

Z vol 24 420 str 33-35

F vol 22.5 420 str 38.5-40.5

H vol 21 410 str 43-45

K vol 19.5 400 str 45.5-48.5

 

Bean oil

V vol 19 43.5 str 30-50

X vol 18.25 43 str 185-205

Z vol 17.25 43 str 235-250

F vol 17 43 str 290-310

H vol 16.5 43.5 str 350-380

K vol 16.5 44 str 415-445

 

Crush quotes

OPEN             CLOSE

OCT           59.5-61          57.5-58.5

DEC           59.5-60           58-58.5

JAN           56-57.5           56-57.5

MCH         61.5-62.5        62-63

MAY         63.5-64            63-64

JLY             63-64                63.5-64.5

AUG         66-72                66.5-67.5

DEC 14     69.5-71             69.5-71

 

 

No Crush players

 

 

Thank you,

 

Kate Rosenberg