From The Floor-An Afternoon Recap

News

  • Brazil Trade Ministry – Brazilian September exports
    • Beans 3.47 MMT vs. 5.38 MMT in August and vs. 1.68 MMT in Sept 2012
    • Meal 1.41 MMT vs. 1.25 MMT in August and vs. 1.39 MMT in Sept 2012
    • Bean oil 177,500 tons vs. 92,800 tons in August and vs. 110,700 tons in Sept 2012
    • Corn 3.45 MMT vs. 3.05 MMT in August and vs. 3.15 MMT in Sept 2012
  • Tunisia bought 75,000 optional origin wheat for Oct-Nov shipment
  • Russia’s stats office said Russia exported 8.474 MMT of grain between July 1st – Sept 25th up 14% from a year ago .
  • Russia’s stats office said Russia exported 2.456 MMT of grain between Sept 1- Sept 25
  • Ukraine Ag Min estimated Ukraine’s Oct grain exports at 2.2-2.3 MMT vs. previous estimate of 2.8 MMT and vs. Sept exports of 2.35 MMT
  • Ukraine Ag Min estimated 2014 winter grain area at 6.2-6.3 MH vs. previous estimate of 7.0 MH due to heavy rains
  • Ukraine Ag Min said Ukraine plans to export 1.2 MMT of corn to China. 240,000 tons for shipment between Oct- Dec and 1.0 MMT of corn for shipment between Jan – June 2014.
  • Ukraine Ag Min said Ukraine will NOT export any wheat to China in ‘13/14 season.
  • Manitoba , Canada weekly crop report
    • Rains slowed harvest last week.
    • Has not started to harvest corn yet
    • Has harvested 70% of the canola crop seeing yields at 30 -70 BPA
    • Early bean yields of 30-55 BPA being reported
  • Today was the last day of the Rogers roll .
    • Pit –
    • Electronic –
  • Weekly DOE #s come out tomorrow at 930 am CDT expecting
    • Crude a build of 2.5 MB
    • Gas a draw of 600,000
    • Distillates expecting a draw of 1.25 MB
  • Deutsche Bank roll begins tomorrow and lasts for 5 days. They will be rolling long Nov 2013 bean positions into Nov 2014. Traders expect DB will roll 3-4,000 per day.
  • Open outcry option players
    • New Edge bought 4,000 Nov bean 1200 puts sold 4,000 Jan bean 1100 puts at 2 5/8 -3 ½
    • Mizuho bought 1,000 Nov bean 1260 calls and sold 2,000 Nov bean 1360 calls at 22 ¾ debit
    • JP Morgan sold 3,000 Sept corn 480/490 call spreads at 3 7/8 – Live
    • JP Morgan sold 4,000 Sept corn 480/490 call spreads at 3 7/8 and sold 400 Sept corn futures at 437
    • Macquarie bought 1,500 May corn 400 puts at 9 and  bought 270 May corn futures at 458
      ABN bought 1,000 Dec corn 400 puts at 3 3/8 and bought 140 Dec corn futures at 437 ¼
    • FI bought 4,000 Dec corn 440/410 put spreads at 10 ½ -10 5/8 and bought 1,160 Dec futures at 440
    • Tenco bought 1,000 Dec corn 450 puts at 21 1/8 -21 7/8
    • FI sold 2,250 May corn 400/500 call spreads at 48 3/8 -48 ½ and bought 1,035 May corn at 458 ½
    • Jefferies sold 2,000 Nov corn 420 puts at 4
    • ADM bought 2,000 Dec corn 500 calls at 1 ½
    • JP Morgan bought 500 Dec wheat 650 puts at 9 ½
    • JP Morgan bought 1,000 March wheat 710/770 call spreads at 14 ¾ -15
    • ADM sold 500 Dec wheat 650 puts at 10 ½
    • Tenco bought 500 March wheat 690 calls sold 500 March wheat 620 puts at 27 ½-28
    • JP Morgan bought 2,000 Dec wheat 600 puts at 1 ¼ and bought 100 Dec futures at 683
    • Rosenthal sold 1,400 Dec wheat 700 calls at 14 ½ -16 ¼
    • FI bought 600 Dec meal 350 puts at 2.75
    • Bunge sold 700 Dec meal 400/420 call spreads at 7
    • Mizuho bought 1,400 Dec bean oil 45 calls at 15
  • FC Stone comes out today at about 3 pm CDT with their 2013 US crop production estimate updates. Their previous estimates were
    • 2013 US corn crop estimated at 13.942 BB vs. USDA estimate of 13.843 BB
    • 2013 US corn yield estimated at 156.4 BPA vs. USDA estimate of 155.3 BPA
    • 2013 US bean crop estimated at 3.146 BB vs. USDA estimate of 3.149 BPA
    • 2013 US bean yield estimated at 41.2 BPA unchanged from the USDA estimate
  • Weekly API energy inventory report comes out today at 330 pm CDT
  • ECB announcement tomorrow.

 

Estimated Fund Activity

  • Wheat bought 2K
  • Corn sold 4K
  • Beans sold 6K
  • Meal sold 1K
  • Bean oil sold 3K

 

 

Thank you,

 

Kate Rosenberg