From The Floor-An Afternoon Recap

News

  • October options expired today.
  • Clive Commodity Hedge Fund plans to close. – Bloomberg
  • Indonesia to keep October palm oil export tax unchanged from September at 9%.
  • Indonesia Trade Minster said Indonesia will remove 5% import tax on soybeans
  • India’s food minister said India is considering raising import tax on refined palm oil within the next 10 days. Currently India’s refined palm oil import tax is 7.5%, may be raised to 10%
  • Feedstock Users Promotion Association estimated Thailand’s 2013 soymeal imports at 2.2 MMT vs. 2012 imports of 2.0 MMT
  • Kazakhstan Ag Min said as of September 20th 11.873 MMT on 9.783 MH (or 62.1% of total area) with an average yield of 1.21 TPH . A year ago Kazakhstan harvested 12.131 MMT of grain (92% of total area) with an average yield of .86 TPH
  • Central Statistics Office said Hungary’s 2013 cereal crop was at 6.96 MMT up 25% from 2012 crop
  • Central Statistics Office said Hungary’s 2013 wheat crop was at 5.14 MMT up 28% from a year ago
  • Weekly COT report comes out today at 230 pm CDT
  • Edible oils conference in Mumbai continues through the weekend.
  • China is back from holiday Sunday night/Monday morning
  • China’s HSBC flash mfg PMI comes out Sunday night/Monday morning
  • Eurozone , France, and Germany’s flash mfg PMI comes out on Monday morning
  • ECB president speaks on Monday at European Parliament
  • Weekly US export inspections report comes out on Monday at 10 am CDT
  • Weekly US crop progress report comes out on Monday at 3 pm CDT
  • UK and US GDP comes out on Thursday
  • Open outcry option players
    • Rand bought 5,000 Nov bean 1250 puts at 10 and bought 1,040 Nov futures at 1318
    • JP Morgan sold 3,450 Nov bean 1420 calls at 7 and bought 510 Nov bean futures at 1315
    • New Edge bought 2,000 Jan bean 1160/1180 put spreads at 2 3/8
    • ADM bought 1,000 May bean 1100 puts and sold 1,000 May bean 1580 call combos at 7 debit
    • Jefferies bought 1,000 Nov bean 1300 puts at 26 ½ and bought 410 Nov futures at 1315
    • ADM bought 5,000 Nov corn 500 calls at 1 5/8 -1 ¾
    • ADM bought 1,500 Dec corn 550 calls at 1
    • ADM bought 1,000 Dec corn 510 calls at 2 7/8
    • RJO bought 1,000 Dec corn 430/410 put spreads at 4 1/8 and bought 188 Dec futures at 454
    • Tenco bought 1,000 Dec corn 430/410 put spreads at 4 1/8 and bought 130 Dec corn 454
    • ICap bought 1,000 Nov corn 420 p/ 490 c strangles and sold 1,000 Dec corn 400 p / 470 c strangles at 6 ¼ debit
    • Rosenthal bought 1,000 Dec wheat 700 calls at 7 ¾ -8 ½
    • Rand bought 860 Dec wheat 660 calls at 19 and sold 387 Dec futures at 651
    • JP Morgan bought 750 Dec meal 380 puts at 5.50-6.00
    • FC Stone bought 500 Dec meal 400 puts at 11.50-11.75
    • New Edge bought 500 July bean oil 44 calls and sold 500 July 40 put combos at 115-120 debit

 

Estimated fund activity

  • Wheat sold 3K
  • Corn sold 7K
  • Beans sold 8K
  • Meal sold 3K
  • Bean oil sold 2,500

 

Closing vols and ATM straddles

 

Corn

X vol 23 ¾ 450 str 26-27 ½

Z vol 23 ¼ 450 str 34 ½-35 ½

H vol 21 ¾ 460 str 51 ½ -53

K vol 22 ¾ 470 str 62 ½-64 ½

Z14 vol 20 ¾ 490 str 86-88

 

Beans

X vol 20 ¼ 1320 str 66-68

Z vol 18 ¾ 1320 str 81-83

F vol 19 1320 str 103-104 ½

H vol 19 ½ 1300 str 129-132

K vol 18 ¾ 1280 str 143-147

N vol 18 1280 str 156-160

 

Wheat

Z vol 21 ¼ 650 str 44-47

H vol 21 ½ 660 str 72-74

K vol 22 670 str 87-90

N vol 22 660 str 97-101

 

KC wheat

X vol 20 690 str 31-32

Z vol 20 690 str 43-45

H vol 20 ¼ 700 str 71-75

K vol 20 ¾ 700 str 86-90

N vol 20 ¾ 690 str 96-100

 

Minneapolis wheat

Z vol 16 ½  710 str 38-44

H vol 17 ½  720 str 60-67

K vol 18 730 str 77-85

N vol 18 ½  730 str 88-98

 

Meal

X vol 30 410 str 27-30

Z vol 25.25 410 str 34.5-36.5

F vol 23 410 str 39-41

H vol 21.5 400 str 44-47

K vol 19 390 str 44.5-49.5

 

Bean oil

X vol 18.25 4250 str 180-200

Z vol 17.25 4250 str 230-245

F vol 16.75 4250 str 275-305

H vol 16.5 43 str 345-380

K vol 16.25 43 str 400-440

N vol 16.25 4350 str 460-500

 

Crush quotes

OPEN               CLOSE

OCT           60.5-61.5        57-58

DEC           59.5-60            55.5-56.5

JAN           57-58               54-56

MCH         62-63               60.5-61.5

MAY         63-64.5            61-63

JLY             64-65               63.5-64

AUG         67-68               66.5-67

DEC 14     69.5-71.5        68-69.5


Crush players

 

New Edge bought 150 Dec crush at 57-58

 

New Edge sold 150 March crush at 61-61.5

 

Rand sold 70 Dec crush at 60

 

Thank you,

 

Kate Rosenberg