KCG Futures News

KCG FUTURES   AM GRAIN FUTURES COMMENTS   Thursday   8.22.13

 

Good rains – some areas exceeding 1 inch – in Nebraska, northern Iowa, southern Minnesota and east pressured grain futures prices in overnight trade.  Forecasters say that this is about 20% of the Midwest that needs rain.  Forecasts for the weekend and early next week continue to indicate hot temperatures and only light, scattered rains, but more rain and cooler temperatures are indicated for mid to late next week.  No frost/freeze in sight into the first week of September.  All in all – most areas are still being yield stressed – but higher temps are pushing maturity forward.

Wire services are having a tough time sending out the weekly Export Sales Report this morning but hope to have a more complete report later today.

WEEKLY US EXPORT SALES REPORT

–       In million bushels and thousand metric tons – rounded

 

Old Crop

Total This Week

Range

Last Week

Wheat

18

15-24

18

Corn

2

34

22-37

31

Beans

1

35

50-73

69

 

Meal

76

177

150-400

243.5

Oil

8

9

0-20

7.8

 

Basis levels continue to be erratic, with spot domestic basis levels for corn and beans well above futures delivery values.  This has begun to press CU-CZ and SU-SX inverses higer.  Markets are heavily inverted.

TRUCK BASIS BID

 

MEMPHIS

CENTRAL ILLINOIS

CEDAR RAPIDS, IA

HERFORD, TX

DENVER

CORN

+20 CU

+155 CU

+ 146 CU

+245 CU

+150 CU

BEANS

+60 SX

+170 SX

+108 SX

 

September options expire tomorrow – First Notice Day for September futures deliveries is next Friday.  Weather forecasts and actual rainfall are the main market focus.

–       Helen Pound

 

 

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

 

CU

SU

SMU

BOU

WU

KWU

MWU

Today’s Pause

$4.96

$13.29

$418

$0.4293

$6.35

$6.98

$7.25

Change

-2

-5

-4

+0.0011

-4

-2

-4

 

OVERNIGHT PERCENT CHANGE IN FUTURES VALUES

Grains

Corn

Beans

Meal

Soy Oil

W

KC

Mpls

% Daily Change

  SEPT 13

-0.4%

-0.3%

-0.9%

+0.3%

-0.6%

-0.3%

-0.5%

  DEC 13(or X)

-1.0%

-1.0%

-1.6%

+0.2%

-0.5%

-0.5%

-0.4%

  JULY 14

-1.0%

+0.1%

-0.2%

+0.1%

-0.3%

-0.1%

 

Macros

Dollar

10 Yr

S+P

Crude

Copper

Gold

Silver

% Daily Change

+0.4%

-0.2%

+0.5%

+0.3%

+1.6%

+0.3%

-0.4%

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

 

Corn

Beans

Meal

Soy Oil

W

KC

Mpls

SEPT-DEC (X)

(17 3/4)

(37 1/2)

(17.3)

0.0034

10 1/2

1/4

7 1/2

% FULL CARRY

(87%)

(216%)

(175%)

51%

51%

1%

27%

 

 

Registrations

7

0

0

8,975

256

Location

Ill River

All over

Toledo

 

 

Sept Open Interest

160,422

25,094

31,465

30,846

65,737

23,737

10,252

   Change

-10,127

+900

-514

-2,029

-8,351

-1,844

-631

 

 

UPCOMING REPORTS

 

Week of 8.19.13

Thur 8.22                   7:30 am          Export Sales

Fri 8.23                       2:00 pm          Commitment of Traders report

                                                            LAST TRADING DAY – SEPT GRAIN OPTIONS

 

Week of 8.26.13

Mon 8.26                   10:00 am       Export Inspections

3:00 pm          Weekly Crop Progress Report

Tues 8.27                  3:30 pm          API Energy Stocks

Futures Delivery Stocks

Wed 8.28                   9:30 am          EIA Energy Stocks

Thur 8.29                   7:30 am          Export Sales

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

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     

 

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Helen Pound