From The Floor-An Afternoon Recap

News

  • Jordan bought 100K optional origin milling wheat for Feb shipment
  • Based on a Bloomberg survey of 7 analysts – China’s ‘13/14 palm oil imports estimated at 6.6 MMT unchanged from ‘12/13
  • Alliance Investment Bank estimated China’s ‘13/14 bean imports at 65.0 MMT up 8.3% from a year ago
  • Dec KC wheat closed above the 200 day moving average of 763 ¼ . Dec KC wheat settled at 765 ½
  • Weekly API energy inventory report comes out today at 330 pm CDT
  • Weekly DOE #s come out tomorrow at 930 am CDT
  • Weekly US ethanol plant production report comes out tomorrow at 930 am CDT
  • Jan beans will be top step (spot month) on Friday.
  • Open outcry option players – very quiet on the trading floor today
    • New Edge bought 1,000 Nov 2014 bean 1060/1040 put spreads at 5 5/8 -5 7/8
    • JP Morgan bought 400 Dec corn 435 puts at 8 ½ and bought 156 Dec futures at 442
    • ABN sold 700 Dec wheat 700 calls at 19-19 1/8
    • JP Morgan bought 250 Dec meal 420/450 call spreads at 7.00
    • JP Morgan bought 500 Jan bean oil 42 calls at 120

 

Estimated fund activity

  • Wheat bought 1,000
  • Corn sold 6,000
  • Beans sold 3,000
  • Meal bought 1,000
  • Bean oil sold 1,000

 

Closing vols and ATM straddles

 

Corn

X vol 21 ½ 440 str 6 ½-8

Z vol 22 ¾ 440 str 23-24

H vol 21 ½ 450 str 44-45

K vol 22 460 str 57-58

N vol 22 ¾ 470 str 68-70

U vol 24 ½ 470 str 83-84

Z14 vol 23 480 str 90 ½-92

 

Beans

X vol 14 ½ 1300 str 15 ½-16 ½

Z vol 19 1300 str 56-58

F vol 18 1300 str 78 ½-79 ½

H vol 19 1300 str 113-116

K vol 18 ½ 1260 str 131-133

N vol 18 ¼ 1260 str 147-149

X14 vol 17 ½ 1180 str 162-166

 

Wheat

X vol 22 ½ 700 str 12-14

Z vol 21 1 /4 700 str 34-35

F vol 21 710 str 49-51

H vol 21 ¼ 710 str 68-70

K vol 22 710 str 87-90

N vol 22 700 str 98-101

 

KC Wheat

X vol 21 760 str 13-15

Z vol 20 ¼ 760 str 36-38

H vol 20 760 str 69-72

K vol 20 ½ 760 str 86-90

N vol 20 ¾ 740 str 97-101

 

Minneapolis wheat

Z vol 17 ½ 760 str 27-33

H vol 18 770 str 58-65

K vol 18 ½ 770 str 76-83

N vol 18 ½ 770 str 86-93

U vol 18 ¾ 770 str 97-105

Z14 vol 18 ¾ 780 str 105-210

 

Meal

X vol 22.5 420 str 6.5-8.5

Z vol 23.75 420 str 23.5-24.5

F vol 22.25 410 str 30-32

H vol 21.5 400 str 38.5-40.5

K vol 20.5 390 str 43-46

N vol 20 390 str 48-51

 

Bean oil

X vol 16 41.5 str 45-55

Z vol 16.5 41.5 str 150-165

F vol 16.5 42 str 220-250

H vol 16.5 42.5 str 310-340

K vol 16.5 42.5 str 375-400

N vol 16.5 43 str 435-460

 

Crush quotes

Open                     Closes

Dec        69-69.5                  70-70.5

FZZ         71.75-72.25         74.0-75.0

Jan         63-63.5                 63.5-64.0

Mch       61.5-62.0              61.5-62.0

May       62.25-63.25         62-63

Jly           62.25-63.5           62.5-63

Aug        63.5-68.0              65.5-68.0

Dec4      72.5-73.25           72.5-73.0

 

No crush players in the pit today