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News
· The rumor I emailed earlier – China buying SRW US wheat. Now I am hearing they were asking for offers on the wheat and did NOT buy any.
· Argentina workers at Rosario port sign agreement to end strike
· Hearing China washing out some June July Brazilian bean cargos because they did not want to price July futures
· Argentina’s Ag Min estimated Argentina’s ‘12/13 bean crop at 50.6 MMT vs. previous estimate of 51.3 MMT
· Argentina Ag Min estimated Argentina’s ‘12/13 corn crop at 25.7 MMT unchanged from previous estimate
· Argentina Ag Min estimated Argentina’s ‘12/13 wheat crop at 9.0 MMT unchanged from previous estimate
· Egypt Meditrade bought 20K sunflower oil for June shipment
· Tunisia bought 75K tons of optional origin wheat and bought 25K optional origin barley for June/July shipment
· Taiwan MFIG seeks 40-60K tons of optional origin corn for August shipment
· UK Farm Ministry estimated ‘12/13 wheat imports at 2.54 MMT vs. previous estimate of 2.26 MMT
· CEC estimated South Africa’s 2013 corn crop at 11.44 MMT vs. previous estimate of 11.562 MMT
· November beans closed above the 50 day moving average of 1230. Nov beans settled at 1243
· July corn closed above the 50 day moving average of 653. July corn settled at 662
· July wheat closed below the 50 day moving average of 707. July wheat settled at 703 ¼
· July bean oil closed above the 50 day moving average of 4956. July bean oil settled at 4966
· Dec bean oil closed below the 50 day moving average of 4881. Dec bean oil settled at 4878
· Dec meal closed below the 100 day moving average of 352.00. Dec meal settled at 351.40
· Malaysian palm oil market closed tomorrow for public holiday
· June options expire tomorrow at 115 pm CDT
· Weekly COT report comes out tomorrow at 230 pm CDT
· Open outcry option players
o New Edge bought 1,000 Sept bean 1100/1200 call spreads at 87 ½
o New Edge sold 1,000 March bean 1000/1100 call spreads at 84-84 ½
o Edf Mann bought 900 Nov bean 1240 calls at 60 ½ -61 ½
o GFI bought 500 Nov bean 1240 calls at 64-66 ½
o Rand bought 2,000 Nov 1000 puts and sold 1,000 Nov bean 1100 puts at 6 credit
o New Edge sold 1,000 Nov bean 1040/1100 call spreads at 51 ½ -52
o Tenco sold 1,000 July bean 1500/1540 call spreads at 17
o ADM bought 1,000 July bean 1400 puts at 6-6 3/8
o GFI bought 1,000 July bean 1460/1400 put spreads at 11-11 ¼
o GFI bought 1,000 July bean 1460/1500 put spreads at 11 ½
o ABN sold 1,000 July bean 1500/1540 call spreads at 18 ½
o FC Stone sold 1,000 July bean 1550/1600 call spreads at 17
o Bunge bought 1,000 July bean 1480/1440 put spreads at 10 ½ -10 7/8 .
o New Edge bought 1,500 July bean 1460/1430 put spreads at 6 ½ and bought 150 July futures at 1515
o Tenco sold 1,000 July bean 1500/1540 call spreads at 19
o ? bought 2,000 Nov bean 1300 calls at 40 ¼ tied to 1241
o Macquarie bought 1,000 Sept corn 600 calls at 18 ¼ sold 320 Sept futures at 555
o Rand bought 1,000 June corn 655/660 call spreads at 1 7/8 and sold 160 July futures at 654
o RJO bought 2,500 Dec corn 650 calls at 8 7/8 -9 ¼ (They bought 3,500 yesterday at 7 ¾ -9 ¼ )
o Big local bought 1,000 July corn 680 calls at 12 ¾
o GFI sold 1,000 July wheat 730/750 call spreads at 5
o Merrill Lynch bought 1,000 July wheat 750 calls/620 put combos at 5 ¼ tied to futures at 702
o ADM bought 1400 Sept wheat 560 puts at 2 ½
o JP Morgan bought 600 July meal 420 calls at 23-23.30
o Mizuho sold 1,000 July bean oil 50 calls at 60
Estimated fund activity
· Wheat bought 5K
· Corn bought 4K
· Beans bought 5K
· Meal sold 2K
· Bean oil bought 1K
Closing vols and ATM straddles
Corn
M vol 27 ½ 660 str 10 ½- 11 ½
N vol 26 ¾ 660 str 40-41
Q vol 31 ¼ 560 str 58 ½ -60 ½
U vol 31 560 str 69 ½-71
Z vol 27 ¼ 530 str 81 ½-82 ½
H vol 25 ¼ 540 str 93 ½ -95 ½
Beans
M vol 29 1490 str 25-26 ½
N vol 22 ¾ 1490 str 77-78 ½
Q vol 22 ½ 1410 str 105 ½ -108
U vol 21 1300 str 107 ½-110
X vol 19 ¾ 1240 str 125 ½-128
F vol 18 ¾ 1240 str 125 ½ -128
H vol 18 ¼ 1240 str 153-158
Wheat
M 700 str 10-12
N vol 25 ¾ 700 str 40-42
Q vol 27 ¾ 710 str 65-67
U vol 27 ¾ 710 str 78-80
Z vol 26 720 str 104-106
Minneapolis wheat
N vol 21 820 str 36-42
U vol 22 ½ 810 str 70-77
Z vol 21 820 str 94-104
H vol 21 830 str 105-120
KC Wheat
N vol 22 ½ 790 str 39-43
U vol 25 760 str 73-80
Z vol 25 780 str 102-112
H vol 24 740 str 124-134
Meal
N vol 26.5 440 str 26-28
Q vol 24.25 410 str 33.5-35
U vol 23.75 380 str 36-38
V vol 23.25 350 str 36.5-38.5
Z vol 22 350 str 42.5-44.5
F vol 21 350 str 44.5-47.5
Bean oil
N vol 17.75 49.5 str 185-200
Q vol 18.25 49.5 str 285.305
U vol 18.25 49.5 str 340-365
V vol 17.75 49 str 375-405
Z vol 17.75 49 str 460-490
F vol 17.5 48.5 str 490-520
Thank you,
Kate Rosenberg
