KCG FUTURES AM GRAIN FUTURES COMMENTS

KCG FUTURES   AM GRAIN FUTURES COMMENTS   Wednesday   10.09.13

 

Grain futures traded both sides of unchanged in overnight trade with beans and wheat mostly lower and corn unchanged to a tad firmer.  Now that the am session is trading beans and wheat are losing ground while corn follows lower.  The dramatic recent rally in the wheat market seems to have lost steam the last couple of days, and appears to be searching for additional support and possibly the low end of trading range.  Clear weather in the US Midwest until Sunday is ramping up harvest and winter wheat planting.  The next storm system is expected Sunday-Tuesday with differing opinions about how much harvest interruption this will cause.  Additionally, drier and warmer weather in Russian and the Ukraine is expected to also improve wheat planting and row crop harvesting.

The macro markets are responding to the nomination of Janet Yellen to Chair the Fed and also to much conversation that US debt resolution issue is adding to forces that are slowing world growth.

–       Helen Pound

 

 

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

 

CZ

SX

SMZ

BOZ

WZ

KWZ

MWZ

Today’s Pause

$4.42

$12.87

$413

$0.4048

$6.91

$7.59

$7.53

Change

0

-2

-2

+0.0005

-2

-2

-1

 

OVERNIGHT PERCENT CHANGE IN FUTURES VALUES

Grains

Corn

Beans

Meal

Soy Oil

W

KC

Mpls

% Daily Change

  OCT

-0.5%

+0.2%

  DEC 13(or X)

-0.0%

-0.2%

-0.5%

+0.1%

-0.3%

-0.2%

-0.1%

  JULY 14

+0.1%

-0.1%

-0.1%

+0.2%

-0.2%

-0.1%

+0.1%

DEC 14(or X)

-0.0%

+0.0%

-0.1%

+0.4%

-0.1%

-0.1%

 

Macros

Dollar

10 Yr

S+P

Crude

Copper

Gold

Silver

% Daily Change

+0.5%

-0.1%

+0.2%

-0.1%

-1.8%

-1.5%

-2.4%

 

SPOT TRUCK BASIS BID

 

MEMPHIS

CHICAGO

Champaign ILLINOIS

CEDAR RAPIDS

HERFORD, TX

DENVER

CORN

-10 CZ

-10 CZ

-10 CZ

+29 CZ

+90 CZ

+0 CZ

 change

+2

0

0

+1

-2

0

 

BEANS

+25 SX

-5 SX

-12 SX

+0 SX

 change

+5

0

0

-1

 

 

UPCOMING REPORTS

 

Week of 10.07.13 – USDA reports cancelled until government shutdown is over

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 – delayed

CROP PRODUCTION REPORT

2:00 pm          Commitment of Traders report

 

Week of 10.14.13

Mon 10.14                 10:00 am       Export Inspections

LAST TRADING DAY OCTOBER SOY MEAL/OIL

COLUMBUS DAY

3:00 pm          Weekly Crop Progress Report

Tues 10.15                3:30 pm          API Energy Stocks

Futures Delivery Stocks

NOPA CRUSH

Wed 10.16                 9:30 am          EIA Energy Stocks

Thur 10.17                 7:30 am          Export Sales

DEBT CEILING DEADLINE

Fri 10.18                    2:00 pm          Commitment of Traders report

 

 

 

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