KCG FUTURES AM GRAIN FUTURES COMMENTS

KCG FUTURES   AM GRAIN FUTURES COMMENTS   Tuesday   10.22.13

 

Grain futures are trading mostly lower this morning.  SX was unable to find follow through buying above $13 and is leading the way lower this morning after quality and progress reports showed quality much improved and harvesting progress near the top of analysts estimates – same for corn.  Wheat futures are also continuing to drift off Friday’s highs as no big SRW or HRW sales have been announced and the threat of freeze damage to Argentine wheat this week is diminishing.

Export bids for beans are steady at high levels, but the domestic market is improving.  It appears neither exporters nor processors want to see harvest end without covering their inventory needs.  Export bids for corn are also steady, but at lower levels, and as harvest pace picks up domestic basis levels are easing and continuing to build carries.

The crop quality and progress report showed that both bean and corn crops are largely mature.  Northern states are experiencing killing freeze events, but loss of some yield is partially offset by better overall yields.  Farmers are hoping the cold weather will firm up ground enough to get equipment back into the field after recent rains.

–       Helen

 

 

WEEKLY USDA CROP QUALITY AND PROGRESS REPORT

CORN

  • 39 % harvested versus 53% average
  • 94% mature versus 95% average
  • Quality rating at 100% of average – improved
    • Iowa 92% quality rating – improved – 97% mature versus 97% ave  –  35% harvested versus 50% ave
    • Illinois 105% quality rating – improved, 97% mature versus 96% ave – 51% harvested versus 61% ave

BEANS

  • 63% harvested versus 69% average
  • 94% dropping leaves versus 97% average
  • Quality rating at 98% of average – improved
    • Iowa 89% quality rating – improved – 96% dropping leaves versus 99% ave –  70% harvested versus 81% ave
    • Illinois 100% quality rating – improved –  97% dropping leaves versus 98% ave –  68% harvested versus 67% ave

HRS

  • Harvest near complete

HRW

  • 79% planted versus 79% average – 53% emerged versus 54% ave
  • Winter wheat condition rating at 103% of normal

 

 

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

 

CZ

SX

SMZ

BOZ

WZ

KWZ

MWZ

Today’s Pause

$4.43

$12.95

$412

$0.4156

$6.98

$7.69

$7.50

Change

-1

-9

-3

-0.0008

-2

-2

-2

 

OVERNIGHT PERCENT CHANGE IN FUTURES VALUES

Grains

Corn

Beans

Meal

Soy Oil

W

KC

Mpls

% Daily Change

  DEC 13(or X)

-0.3%

-0.7%

-0.8%

-0.2%

-0.3%

-0.3%

-0.3%

  JULY 14

-0.1%

-0.6%

-0.7%

-0.2%

-0.0%

-0.1%

+0.0%

DEC 14(or X)

-0.2%

-0.8%

-0.9%

-0.4%

-0.1%

-0.6%

+0.4%

 

Macros

Dollar

10 Yr

S+P

Crude

Copper

Gold

Silver

% Daily Change

-0.2%

+0.4%

+0.3%

-0.1%

+0.9%

+0.9%

+1.1%

 

SPOT TRUCK BASIS BID

 

MEMPHIS

CHICAGO

CENTRAL ILLINOIS

CEDAR RAPIDS

HERFORD, TX

DENVER

CORN

+0 CZ

+3 CZ

+7 CZ

+17 CZ

+90 CZ

+10 CZ

 change

0

-7

0

+4

-5

-1

 

BEANS

+30 SX

+15 SX

+10 SX

+2 SX

 change

0

+5

0

+17

 

 

 

UPCOMING REPORTS –

 

Week of 10.21.13

Tues 10.22                3:30 pm          API Energy Stocks

Futures Delivery Stocks

Wed 10.23                 9:30 am          EIA Energy Stocks

Thur 10.24                 7:30 am          Export Sales

Fri 10.25                    2:00 pm          Commitment of Traders report

                                                                LAST TRADING DAY NOVEMBER GRAIN OPTIONS

 

Week of 10.28.13

Mon 10.28                 10:00 am       Export Inspections

3:00 pm          Weekly Crop Progress Report

Tues 10.29                3:30 pm          API Energy Stocks

Futures Delivery Stocks

FOMC MEETING

Wed 10.30                 9:30 am          EIA Energy Stocks

Thur 10.31                                         FIRST NOTICE DAY FOR SX FUTURES

FOMC MEETING

7:30 am          Export Sales

Fri 11.01                    2:00 pm          Commitment of Traders report

 

Week of 11.04.13

Mon 11.04                 10:00 am       Export Inspections

3:00 pm          Weekly Crop Progress Report

Tues 11.05                3:30 pm          API Energy Stocks

Futures Delivery Stocks

Wed 11.06                 9:30 am          EIA Energy Stocks

Thur 11.07                 7:30 am          Export Sales

Fri 11.08                    11:00 AM       USDA SUPPLY/DEMAND REPORT

11:00 AM       USDA CROP PRODUCTION REPORT

2:00 pm          Commitment of Traders report

 

 

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