KCG FUTURES-AM GRAIN FUTURES COMMENTS

KCG FUTURES   AM GRAIN FUTURES COMMENTS   Tuesday   9.03.13

 

Grain futures gapped higher in post-holiday Monday night trade reflecting disappointment over the lack of rainfall coverage in key the corn and bean producing states of Iowa and Illinois as well as a weather forecast with little rainfall indicated.  Traders expect to see a cut in Weekly Quality ratings in this afternoon’s reports, but good crop advancement.  Current forecasts see no freeze events for the next 10 days.

Spot cash market basis levels are erratic as harvest ramps up in the South and processors take maintenance downtime.

With South America continuing to market corn and beans through a longer season, one would expect South American fundamentals to have an increasing impact on general world prices levels.   Basis levels in countries like the US with tight S+Ds should be an important rationing tool.  The ICG is expecting a 5% increase in Brazilian soybean plantings this fall.

 

SPOT TRUCK BASIS BID

 

MEMPHIS

CENTRAL ILLINOIS

CEDAR RAPIDS, IA

HERFORD, TX

DENVER

CORN

+14 CU

+110 CU

unq

+150 CZ

+160 CU

 

(+139 CU)

 

BEANS

+0 SX

+170 SX

unq

 

(-60 SU)

(+110 SU)

 

–       Helen Pound

 

 

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

 

CZ

SX

SMZ

BOZ

WZ

KWZ

MWZ

Today’s Pause

$4.89

$14.04

$444

$0.4466

$6.60

$7.08

$7.35

Change

+7

+46

+20

+0.0037

+6

+5

+4

 

OVERNIGHT PERCENT CHANGE IN FUTURES VALUES

Grains

Corn

Beans

Meal

Soy Oil

W

KC

Mpls

% Daily Change

  SEPT 13

+0.9%

+2.7%

+4.3%

+0.8%

+1.1%

+0.6%

  DEC 13(or X)

+1.4%

+3.4%

+4.7%

+0.8%

+0.9%

+0.6%

+0.6%

  JULY 14

+1.2%

+2.5%

+3.1%

+0.6%

+0.8%

+0.1%

 

Macros

Dollar

10 Yr

S+P

Crude

Copper

Gold

Silver

% Daily Change

+0.3%

-0.5%

+1.0%

-0.3%

-1.7%

+0.2%

+4.0%

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

 

Corn

Beans

Meal

Soy Oil

W

KC

Mpls

SEPT-DEC (X)

(11 1/4)

(60)

(44.5)

0.0040

9 3/4

2 1/4

10

% FULL CARRY

(55%)

(345%)

(451%)

60%

48%

7%

36%

 

DELIVERIES

 Tue 9.03.13

7

0

0

344

0

15

139

 Fri 8.30.13

0

0

0

651

0

19

106

 

Oldest Long

9.07.12

3.28.13

9.28.12

8.28.13

5.02.13

7.03.13

8.12.13

 

 

Registrations

7

0

0

8,557

256

Location

Ill River

All over

Toledo

 

 

Sept Open Interest

25,411

5,325

4080

4,270

2,552

2,342

699*

   Change

-10,800

-1,053

-2,519

-2,108

-1,876

-933

-2,024

*Not updated

 

UPCOMING REPORTS

Week of 9.02.13

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

 

 

 

 

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