KCG FUTURES AM GRAIN FUTURES COMMENTS

KCG FUTURES   AM GRAIN FUTURES COMMENTS   Tuesday   9.17.13

 

Grain futures prices bounced a bit in last night’s trade in response to slightly lower bean and corn quality numbers in the USDA Weekly Crop Quality and Progress Report and in anticipation of the FSA acreage report this morning.  Grain futures bounced a bit more in reaction to the Farm Service Agency update of planted, failed and prevent plant acres reported by farmers as a requirement of participation in government support programs.  Today’s acreage numbers were reported at 5 am and updated their August report. There were increases in total planted plus failed acres as well as in prevent plant acres.  The bounce in futures indicated that the market thinks the increase in prevent plant acres will reduce overall production.  Now that the market has resumed trading after the “pause”, grain futures markets are giving back some of their early gains.

There is rain in the western Plains as well as Iowa and Missouri this morning.  The weather forecast still indicates to damaging freeze in the US Midwest into early October.

Domestic basis levels are erratic with Central Illinois and Denver corn basis significantly lower, but Cedar Rapids and Hereford, Tx slightly higher.  The domestic bean basis is significantly lower in Central Illinois and Cedar Rapids.  Many domestic cash markets still show a premium for quick delivery.  The September barge basis for corn and beans is softer, with corn showing a discount to October and beans still showing a dime premium (cheaper Sept barge freight also adds some premium for quick shipment barges).

–       Helen Pound

 

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

CZ

SX

SMZ

BOZ

WZ

KWZ

MWZ

Today’s Pause

$4.67

$13.67

$434

$0.4262

$6.48

$6.94

$7.05

Change

+10

+17

+6

+0.0025

+7

+5

+3

 

OVERNIGHT PERCENT CHANGE IN FUTURES VALUES

Grains

Corn

Beans

Meal

Soy Oil

W

KC

Mpls

% Daily Change
  OCT

+1.4%

+0.6%

  DEC 13(or X)

+2.3%

+1.2%

+1.4%

+0.6%

+1.1%

+0.7%

+0.4%

  JULY 14

+2.0%

+0.9%

+1.0%

+0.5%

+1.0%

+0.7%

DEC 14(or X)

+1.6%

+0.9%

+1.3%

+0.2%

+0.5%

Macros

Dollar

10 Yr

S+P

Crude

Copper

Gold

Silver

% Daily Change

-0.2%

+0.3%

+0.1%

-0.6%

+0.5%

+0.4%

-0.1%

 

SPOT TRUCK BASIS BID

MEMPHIS

CHICAGO

CENTRAL ILLINOIS

CEDAR RAPIDS

HERFORD, TX

DENVER

CORN

-30 CZ

+35 CZ

+25 CZ

+76 CZ

+120 CZ

+10 CZ

BEANS

+20 SX

+0 SX

+80 SX

+45 SX

 

 

UPCOMING REPORTS

Week of 9.16.13

Tues 9.17                  3:30 pm          API Energy Stocks

Futures Delivery Stocks

FOMC MEETING

Wed 9.18                   9:30 am          EIA Energy Stocks

FOMC MEETING

Thur 9.19                   7:30 am          Export Sales

Fri 9.20                       2:00 pm          Commitment of Traders report

                                                            LAST TRADING DAY OCTOBER OPTIONS

 

Week of 9.23.13

Mon 9.23                   10:00 am       Export Inspections

3:00 pm          Weekly Crop Progress Report

Tues 9.24                  3:30 pm          API Energy Stocks

Futures Delivery Stocks

Wed 9.25                   9:30 am          EIA Energy Stocks

Thur 9.26                   7:30 am          Export Sales

Fri 9.27                       2:00 pm          Commitment of Traders report

 

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

Tues 10.01                3:30 pm          API Energy Stocks

Futures Delivery Stocks

Wed 10.02                 9:30 am          EIA Energy Stocks

Thur 10.03                 7:30 am          Export Sales

Fri 10.04                    2:00 pm          Commitment of Traders report

 

 

 

 

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