KCG FUTURES AM GRAIN FUTURES COMMENTS

 

KCG FUTURES   AM GRAIN FUTURES COMMENTS   Friday   10.04.13

 

Grain futures prices were mixed in thin overnight trade with corn a bit higher, while beans and wheat were a bit lower.  Traders expected to see much larger Canadian wheat and canola production in this morning’s Stats Can report.  Wheat and canola production came in significantly higher than July estimates – within the range of estimates (see below).

The storm moving through the US appears to be more severe than originally thought – bringing more than expected rainfall to the central and northern Midwest – as well as snow in the Dakotas and nw Nebraska.  This will disrupt harvest in these areas.  Domestic and export corn and bean basis levels are firm.

Wheat futures are consolidating their recent rally, corn futures are edging above recent lows, and beans futures are giving back some of yesterday’s bounce.

–       Helen Pound

 

GRAIN FUTURES 7:45 to 8:30 am PAUSE –rounded

 

CZ

SX

SMZ

BOZ

WZ

KWZ

MWZ

Today’s Pause

$4.41

$12.83

$414

$0.4008

$6.89

$7.53

$7.50

Change

+1

-6

-1

-0.0019

-1

-2

-1

 

OVERNIGHT PERCENT CHANGE IN FUTURES VALUES

Grains

Corn

Beans

Meal

Soy Oil

W

KC

Mpls

% Daily Change

  OCT

-0.7%

-0.5%

  DEC 13(or X)

+0.3%

-0.4%

-0.3%

-0.5%

-0.1%

-0.3%

-0.1%

  JULY 14

+0.2%

-0.3%

-0.3%

-0.4%

+0.1%

+0.1%

na

DEC 14(or X)

+0.3%

-0.3%

-0.1%

-0.7%

+0.1%

+0.2%

+0.1%

 

Macros

Dollar

10 Yr

S+P

Crude

Copper

Gold

Silver

% Daily Change

+0.2%

-0.2%

+0.2%

+0.7%

+0.2%

+0.2%

+0.3%

 

SPOT TRUCK BASIS BID

 

MEMPHIS

CHICAGO

Champaign ILLINOIS

CEDAR RAPIDS

HERFORD, TX

DENVER

CORN

-12 CZ

-10 CZ

-10 CZ

+7 CZ

+92 CZ

+0 CZ

 change

+8

na

0

+1

0

na

 

BEANS

+18 SX

-5 SX

-12 SX

-5 SX

 change

+1

na

0

+7

 

 

STATISTICS CANADA CROP PRODUCTION SUMMARY

– in million metric tons

 

’13-14

Estimates

’13-14

’12-13

 

Sept

July

All Wheat

33.0

30.7 – 34.5

30.6

27.2

Durum

5.6

5.2 – 6.2

5.1

4.6

Oats

3.2

2.8 – 3.4

2.9

2.8

Canola

15.9

14.8 – 17.5

14.7

13.8

 

 

UPCOMING REPORTS

Week of 9.30.13

Fri 10.04                    2:00 pm          Commitment of Traders report –likely cancellation

 

Week of 10.07.13

Mon 10.07                 10:00 am       Export Inspections

3:00 pm          Weekly Crop Progress Report

Tues 10.08                3:30 pm          API Energy Stocks

Futures Delivery Stocks

Wed 10.09                 9:30 am          EIA Energy Stocks

Thur 10.10                 7:30 am          Export Sales

Fri 10.11                    11:00 am       USDA SUPPLY/DEMAND REPORT-likely delayed

CROP PRODUCTION REPORT

2:00 pm          Commitment of Traders report

 

 

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