KCG FUTURES AM GRAIN FUTURES COMMENTS

KCG FUTURES   AM GRAIN FUTURES COMMENTS   Friday   8.30.13

 

Weather forecasts for more seasonable US Midwest temperature next week indicate less yield stress on corn and beans and are weighing on futures prices.  SX and WZ are approaching Monday’s lows, while CZ is trading below Monday’s low.  Forecasts also indicate the possibility of rain events over the holiday weekend, but are still viewed in the “not enough” category.  Corn harvest is advancing in the US south, while bean harvest in the northern plains is expected to begin in late September.

Today is First Notice Day for September futures.  There were light bean oil, KC wheat, and Minneapolis wheat deliveries. September futures open interest is declining quickly as huge inverses in futures spreads and spot basis levels encourage Long liquidation.

Spot basis levels continue to mostly erode – especially tributary to areas that are harvesting.  The USDA reported that China bought 110 mmt of US beans overnight,

 

SPOT TRUCK BASIS BID

 

MEMPHIS

CENTRAL ILLINOIS

CEDAR RAPIDS, IA

HERFORD, TX

DENVER

CORN

+16 CU

+110 CU

+ 165 CZ

+285 CU

+150 CU

 

(+149 CU)

 

BEANS

+50 SX

+160 SX

+98 SX

 

(-12 SU)

(+98 SU)

(+36 SU)

 

Weather forecasts and actual rainfall events are the main futures market focus.

There will be no day session on Monday for the Labor Day holiday – electronic trades reopens Monday night at 7 pm.

–       Helen Pound

 

 

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

 

CZ

SX

SMZ

BOZ

WZ

KWZ

MWZ

Today’s Pause

$4.80

$13.57

$426

$0.4366

$6.54

$7.04

$7.34

Change

-2

-12

-4

-0.0024

0

+1

+1

 

OVERNIGHT PERCENT CHANGE IN FUTURES VALUES

Grains

Corn

Beans

Meal

Soy Oil

W

KC

Mpls

% Daily Change

  SEPT 13

-0.1%

-0.5%

-0.5%

-0.6%

+0.2%

+0.1%

+0.1%

  DEC 13(or X)

-0.4%

-0.8%

-1.0%

-0.5%

0.0%

+0.1%

+0.1%

  JULY 14

-0.6%

-0.7%

-1.1%

-0.5%

-0.1%

+0.1%

-0.8%

 

Macros

Dollar

10 Yr

S+P

Crude

Copper

Gold

Silver

% Daily Change

+0.1%

0.0%

+0.1%

-0.8%

-0.8%

-1.2%

-1.6%

SEPTEMBER GRAIN FUTURES DELIVERIES – FIRST NOTICE DAY FRIDAY 8-30-13

 

Corn

Beans

Meal

Soy Oil

W

KC

Mpls

SEPT-DEC (X)

(17 1/4)

(66 1/2)

(40)

0.0041

13

2 1/4

9 3/4

% FULL CARRY

(84%)

(382%)

(406%)

65%

61%

7%

35%

 

DELIVERIES

 Fri 8.30.13

0

0

0

651

0

19

106

 

Oldest Long

7.23.12

3.28.13

9.28.12

8.26.13

2.01.13

6.27.13

7.18.13

 

 

Registrations

7

0

0

8,557

256

Location

Ill River

All over

Toledo

 

 

Sept Open Interest

36,193

6,432

6,597

6,378

4,663

3,274

2,886*

   Change

-17,560

-3,736

-4,554

-4,699

-7,157

-4,143

-2,038

* Not yet updated

 

 

UPCOMING REPORTS

Week of 8.26.13

Fri 8.30                       2:00 pm          Commitment of Traders report

                                                            FIRST NOTICE DAY – SEPT GRAIN FUTURES

 

Week of 9.02.13

Mon 9.02                                           LABOR DAY HOLIDAY

7:00 pm          CBOT Electronic grain futures trade resumes.

Tues 9.03                  10:00 am       Export Inspections

3:00 pm          Weekly Crop Progress Report

Wed 9.04                   3:30 pm          API Energy Stocks

Futures Delivery Stocks

Thur 9.05                   9:30 am          EIA Energy Stocks

Fri 9.06                       7:30 am          Export Sales

2:00 pm          Commitment of Traders report     

 

 

Week of 9.09.13

Mon 9.09                   10:00 am       Export Inspections

3:00 pm          Weekly Crop Progress Report

Tues 9.10                  3:30 pm          API Energy Stocks

Futures Delivery Stocks

Wed 9.11                   9:30 am          EIA Energy Stocks

Thur 9.12                   7:30 am          Export Sales

11:00 am       USDA SEPTEMBER SUPPLY/DEMAND REPORT

Fri 9.13                       2:00 pm          Commitment of Traders report

 

 

Week of 9.16.13

 

Week of 9.23.13

 

Week of 9.30.13

Mon 9.30                   10:00 am       Export Inspections

11:00 am       USDA QUARTERLY STOCKS AND

SMALL GRAIN SUMMARY

3:00 pm          Weekly Crop Progress Report