From The Floor-An Afternoon Recap

News

  • India seeks 18,000 tons of palm oil from Malaysia or Indonesia
  • Ukraine Ag Min said Ukraine has exported 10.787 MMT of grain between July 1st – Nov 11th
  • Ukraine Ag Min estimated November grain exports at 3.0-3.5 MMT
  • Argentina local meteorologist said recent rains and more rains in forecast through the end of year have eased concerns about drought in Argentina
  • Hearing Argentina has planted 12% of their bean crop and 80-81% of their sunflower crop has been planted
  • Today was the third day of the Goldman Sachs roll. GS roll ends on Wednesday. In the last minutes of trade
    • Corn – 12,708 Dec/March spreads traded at 11 ¾  electronically and 600 Dec/March spreads traded at 11 ¾  in the pit
    • Wheat – 8,714   Dec/March spreads traded at 11 electronically and 300  Dec/March spreads traded at 11 ¼  in the pit
    • Meal – 2,193 Dec/Jan spreads traded at 6.30-6.40 electronically and  100  Dec/Jan spreads traded at 6.50  in the pit
    • Bean oil – 800 Dec/Jan spreads traded at  33  electronically . No spreads traded in the pit
  • Weekly US export inspections report will come out tomorrow at 10 am CST, report delayed one day due to Veterans Day holiday in the US
  • Weekly US crop progress report comes out tomorrow at 3 pm CST, report delayed one day due to Veterans Day holiday in the US, expecting
    • Bean harvest 91-95% complete
    • Corn harvest 84-97% complete
    • Winter wheat conditions steady to up 1% from a week ago
  • Jan bean oil will be top step (spot month) on Wednesday.
  • March wheat will be top step (spot month) on Wednesday
  • Weekly API energy inventory report will come out on Wednesday at 330 pm CST, report delayed one day due to Veterans Day holiday in the US
  • Open outcry option players
    • New Edge bought 800 Dec soybean 1200/1240 call spreads at 38 ½
    • FI bought 1,000 March bean 1200 puts at 20 ½ -21
    • GFI bought 1,600 March bean 1200 puts and sold 1,600 Jan 1200 puts at 16 ½-16 ¾ debit , bought 400 March bean futures at 1271 and sold 160 Jan bean futures at 1291
    • Tenco bought 1,000 March corn 500 calls at 4
    • ADM sold 2,000 March corn 430 calls at 29
    • New Edge bought 4,000 Dec corn 410 puts at ¾ and bought 320 Dec futures at 436 ½
    • Macquarie bought 1,000 Dec corn 410 puts at 7/8
    • Rand sold 1,000 week 3 corn 430 calls at 8
    • ICap bought 1,000 Dec corn 430/420 put spreads at 2 3/8
    • ICap bought 1,000 Jan corn 430 puts at 5 3/8 and bought 280 March corn futures at 448
    • Tenco sold 1,000 Dec wheat 660 puts at 11-11 ¼
    • ADM bought 500 March wheat 670 calls at 24-24 ¼
    • New Edge sold 500 Dec meal 420 puts at 7.25 and sold 250 Dec meal futures at 420.00
    • JP Morgan bought 500 Dec meal 400 puts at 1.90
    • Rosenthal sold 700 July meal 360 puts at 12.00
    • Bunge bought 1,000 Dec meal 420/410 put spreads at 3.00-3.50
    • ADM bought 500 Dec bean oil 40 puts at 30

 

Estimated fund activity

  • Wheat sold 2K
  • Corn bought 10K
  • Beans bought 2K
  • Meal sold 1K
  • Bean oil bought 1,500

 

Closing vols and ATM straddles

 

Corn

Z vol 20

 

Beans

Z vol 15 ¼ 1300 str 28-31

F vol 14 ¾ 1300 str 54 ½-56 ½

G vol 16 ¾ 1280 str 76-79

H vol 17 ½ 1280 str 94 ½-96

K vol 17 ½ 1260 str 115-117

N vol 17 ¼ 1260 str 132-136

X14 vol 16 ¾ 1160 str 148-152

 

Wheat

Z vol 16 ½ 650 str 15-16

F vol 17 ¼ 660 str 31-34

H vol 18 ¼ 660 str 51-52

K vol 19 ¾ 660 str 69-72

N vol 20 ¾ 660 str 83-85

 

KC wheat

Z vol 15 ¼ 710 str 15-17

H vol 17 710 str 49-53

K vol 18 ½ 710 str 68-72

N vol 19 ½ 700 str 82-87

 

Minneapolis wheat

Z vol 14 710 str 11-19

H vol 16 720 str 44-52

K vol 17 ½ 720 str 65-72

N vol 17 ½ 730 str 75-82

U vol 17 ½ 730 str 81-91

Z vol 17 ½ 740 str 95-108

 

Meal

Z vol 24 420 str 14-16

F vol 21.25 410 str 24.5-26

H vol 20.5 400 str 35-37

K vol 19.25 390 str 40-43

N vol 18.75 390 str 45-48

 

Bean oil

Z vol 15 40.5 str 80-100

F vol 16.25 41 str 180-195

H vol 16.25 41 str 270-295

K vol 16.25 41.5 str 340-370

N vol 16.25 42 str 400-425

Q vol 16.25 42 str 430-480

 

Crush quotes

 

OPEN               CLOSE

DEC           66-69               64.5-67.5

FZZ            75-76               71.5-72.5

JAN            62-62.5           61-62

MCH          59-60.5           58-59

MAY           59-60              59-60

JLY              59-60               58.5-69.5

AUG           64-65              63.5-65

SEP             79-86              79-85.5

DEC 14       70..5-72.5     73-73.5

 

Crush player

 

New Edge sold 30 Jan at 62

 

Oil Share player

 

Rosenthal bought 150 Jan bean oil / 110 Jan meal at 32.85%

 

Thank you,