KNIGHT AM GRAIN FUTURES COMMENTS FRIDAY 4.19.13

AM GRAIN FUTURES COMMENTS     Friday 4.19.13

 

Overnight grain futures price action was erratic in thin trade. 

  • SK unable to find consistent follow through buying above last week’s highs
  • CK recovered some of yesterday’s break – but still trading below last week’s highs
  • WK trading mid range, below last week’s highs

 

WEATHER ISSUES

US Southwest – recent freeze damage to HRW and another cold weather freeze possibility Saturday morning with temps below 31 degrees impacting heading wheat and below 20 degrees impacting jointing wheat – spring precipitation has not improved condition of  HRW that was planted in extremely dry conditions

Australia need more rain for planting wheat

US South – cool, wet weather continues to delay spring planting and winter wheat advancement

US North and Canada– historically deep snow pack with cold temps is delaying the start of spring field work and HRS planting – this area received much more snow overnight

US Midwest – cool, wet weather continues to delay spring planting.  In many areas soil moisture is adequate – others have surplus and more rain is a problem – expected to stay cool another 10 days

SE Ukraine – needs rain to support winter wheat coming out of dormancy and new crop corn planting

China – cool weather delays spring field work and winter wheat development, but adequate soil moisture

Argentina – weather favors active corn and bean harvesting

Brazil– weather favors development of second crop corn and bean harvesting

 

          Helen Pound

 

 

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

CK

SK

SMK

BOK

WK

KWK

MWK

Today’s Pause

$6.48

$14.31

$412

$0.4951

$7.02

$7.40

$8.18

Change

+4

0

+1

-0.0015

-1

-4

0

 

OVERNIGHT PERCENT CHANGE IN FUTURES VALUES  

Grains

Corn

Beans

Meal

Oil

W

KC

Mpls

% Daily Change

 

  MAY 13

+0.6%

+0.0%

+0.2%

-0.3%

-0.1%

-0.5%

+0.1%

  JULY 13

+0.2%

-0.1%

+0.2%

-0.5%

-0.5%

-0.6%

-0.2%

  DEC 13

+0.6%

-0.2%

-0.1%

-0.5%

-0.5%

-0.7%

-0.2%

 

 

 

 

 

 

 

 

Macros

Dollar

10 Yr

S+P

Crude

Copper

Gold

Silver

% Daily Change

-0.1%

-0.1%

+0.4%

+0.3%

-1.2%

+1.2%

+1.0%

           

2009 INDEX (based on January 2, 2009)

Grains

Corn

Beans

Meal

Oil

Chi Wht

KC

Mpls

Index

157%

147%

137%

86%

115%

117%

125%

  Year Low

134%

113%

91%

82%

93%

95%

111%

  Year High

205%

185%

184%

100%

155%

150%

158%

 

 

 

 

 

 

 

 

Macros

Dollar

10 Yr

S+P

Crude

Copper

Gold

Silver

Index

100%

107%

166%

190%

239%

160%

205%

  Year Low

90%

103%

115%

162%

238%

157%

201%

  Year High

101%

110%

171%

239%

296%

205%

324%

 

 

MAY FUTURES DELIVERIES  First Notice Day is Tuesday 4.30.13

C

S

SM

BO

W

KW

MW

K-N Spread

(17)

(41)

(8.8)

(0.0008)

3/4

4 1/2

(17 1/2)

% Full Carry

(121%)

(224%)

(133%)

(18%)

5%

29%

(93%)

Open Interest

202,454

112,832

40,563

59,975

66,012

32,160*

7,025

Change

-31,414

-14,511

-3,255

-12,304

-5,646

-2,014

-1,268

Delivery Stocks

1.8

1.3

47.9

70.1

21.1

Registrations

22

0

0

12,202

1,153

*KC May Open Interest not yet updated

Deliveries, Open Interest and Registration in number of 5,000 bushel contracts

Delivery Stocks in million bushels – reported each Tuesday

Last trading day is Tuesday 5.14.13

 

 

UPCOMING REPORTS

Week of 4.15.13

Fri 4.19                        2:00 pm           Cattle on Feed report

                                    2:00 pm           Commitment of Traders report

Week of 4.22.13

Mon 4.22                     10:00 am         Export Inspections

                                    3:00 pm           Weekly Crop Progress Report

Tues 4.23                     3:30 pm           API Energy Stocks

                                                            Futures Delivery Stocks

Wed 4.24                    7:30 am           Statistics Canada Planting Intentions

                                    9:30 am           EIA Energy Stocks

Thurs 4.25                   7:30 am           Export Sales

Fri 4.26                                                May Grain Options Expiration

                                    2:00 pm           Commitment of Traders report

Week of 4.29.13

Mon 4.29                     10:00 am         Export Inspections

                                    3:00 pm           Weekly Crop Progress Report

Tues 4.30                                             First Notice Day May Grain Futures Deliveries                

                                    3:30 pm           API Energy Stocks

FOMC Meeting

                                                            Futures Delivery Stocks

Wed 5.01                    9:30 am           EIA Energy Stocks

FOMC Meeting

Thurs 5.02                   7:30 am           Export Sales

Fri 5.03                        2:00 pm           Commitment of Traders report

 

 

 

HEADLINES

 

04/19 06:57a CST  DJ China Consumers May Turn to Pork Owing to Bird Flu -USGC

 

 

 

Back Office Minneapolis Helen Pound