From The Floor-An Afternoon Recap

News

  • Lanworth ‘13/14 crop estimates
    • Global corn crop estimated at 955.0 MMT vs. previous estimate of 952.0 MMT
    • Global bean crop estimated at 288.0 MMT vs. previous estimate of 286.0 MMT
    • Global wheat crop estimated at 707.0 MMT vs. previous estimate of 706.0 MMT
    • US corn crop estimated at 13.792 BB
    • US corn yield estimated at 156.2 BPA
    • US bean crop estimated at 3.215 BB
    • US bean yield estimated at 41.8 BPA
  • Jordan bought 50K tons of optional origin feed barley for March shipment
  • Hearing Canada having the best harvest ever for all crops
  • SAGIS said South Africa’s Sept corn ending stocks were at 5.803 MMT vs. Aug ending stocks of 6.613 MMT
  • Agritel said France’s ‘13/14 wheat planting area will rise 2-3% from ‘12/13 area.
  • Nov beans closed below the 50 day moving average of 1317 ½ . Nov beans settled at 1310
  • Dec KC wheat closed above the 200 day moving average of 762 ½. Dec KC settled at 770 ¾
  • Dec meal closed below the 50 day moving average of 416.30. Dec meal settled at 415.00
  • There will be no Chinese bean auction tomorrow. Hearing the auction are over for the year.
  • Oct flash PMIs come out tomorrow for China, Germany, France, Eurozone, and the US
  • Weekly US jobless claims report comes out tomorrow at 730 am CDT
  • Weekly US export sales report for the week ending October 3rd come out tomorrow at 730 am CDT . Expectations for this report were
    • Wheat 300-900K
    • Corn 600K – 1.4 M
    • Beans 400K – 1.025 M
    • Meal 150-250K
    • Bean oil 0-30K
  • Late tomorrow or early Friday morning USDA will release incomplete data for the export sales report for the week ending Oct 10th and Oct 17th . These figures will NOT be final.
  • On October 31st USDA will release export sales report for the weeks ending Oct 10th, 17th, and 24th . These figures will look larger than normal since the 3 weeks will be combined.
  • Weekly EIA Nat Gas storage report comes out tomorrow at 930 am CDT
  • Open outcry option players- another quiet day on the trading floor
    • Tenco bought 2,000 Dec bean 1280 puts at 18 ¾-19 ½
    • Tenco bought 1,000 May bean 1060 puts and sold 500 May 1160 puts at 7 ¾ credit and sold 25 May futures at 1269
    • Tenco bought 1,000 Jan bean 1380 calls sold 1,000 Jan bean 1280 puts at 12 credit and sold 620 Jan futures at 1309
    • EDF Man bought 1,500 Jan bean 1250 puts at 19 ¼-19 ¾
    • Rand sold 2,000 May corn 470 calls at 27-27 ¼
    • ABN bought 1,400 March wheat 800 calls at 11 ¼-12
    • Bunge bought 1,000 Dec meal 410/400 put spreads at 3.00
    • Mizuho bought 100 Jan bean oil 40 puts at 48

 

Estimated fund activity

  • Wheat bought 1K
  • Corn bought 6K
  • Beans bought 5K
  • Meal bought 2K
  • Bean oil sold 1K

 

Closing vols and ATM straddles

 

Corn

X vol 22 ½ 440 str 6 ½-8 ½

Z vol 23 ½ 440 str 24-25

H vol 21 ¾ 450 str 45-46

K vol 22 ¼ 460 str 57 ½-59

N vol 23 ¼ 470 str 70-71

U vol 24 ½ 480 str 85-85 ½

Z14 vol 23 ¼ 480 str 91 ½-92 ½

 

Beans

X vol 16 ½ 1310 str 14-16

Z vol 20 1/8 1300 str 61 ½-62 ½

F vol 18 5/8 1300 str 82-83 ½

H vol 19 ¾ 1280 str 115-117

K vol 19 1260 str 135-136 ½

N vol 18 ½ 1260 str 149-151

 

Wheat

X vol 26 ½ 700 str 10-12

Z vol 21 ¾ 700 str 34-36

H vol 21 ½ 710 str 69-71

K vol 21 ¾ 720 str 87-90

N vol 22 700 str 98-101

 

KC wheat

X vol 20 ½ 770 str 10-12

Z vol 20 ½ 770 str 36-38

H vol 20 ½ 770 str 70-74

K vol 20 ¾ 770 str 86-91

N vol 21 740 str 97-102

 

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 5-7

Z vol 23.75 420 str 23.5-24.5

F vol 22.25 410 str 30-32

H vol 21.75 400 str 39-41

K vol 20 390 str 43-46

N vol 19.5 390 str 48-51

 

Bean oil

X vol 16 41.5 str 35-55

Z vol 16.5 41.5 str 150-165

H vol 16.5 42 str 203-330

K vol 16.5 42.5 str 375-410

N vol 16.5 43 str 435-465

 

Crush quotes

 

OPEN              CLOSE

DEC          69.5-70           73.5-74

JAN          64-64.5           65-65.5

MCH        61.5-62.5        62-63

MAY        62-63.5            62-63.5

JLY            63-64               62.5-63

AUG         67-68              65.5-68

SEP           86-89.5           86-89

DEC 14     72-73               72-73

 

Crush players

 

ABN sold 60 Oct at 78

 

New Edge sold 80 March at 62.75

 

RJO sold 60 Dec at 73

 

Tenco sold 300 Dec at 70-73

 

Oil Share Player

 

Rosenthal bought 200 Dec oil/170 meal at 32.87-32.90