KNIGHT AM GRAIN FUTURES COMMENTS WEDNESDAY 4.17.13

AM GRAIN FUTURES COMMENTS     Wednesday 4.17.13

 

     Grain futures prices are mixed with beans slightly higher while corn and wheat are slightly lower.  Markets are consolidating with corn and beans near last week’s highs, but beans, wheat and corn are all well within the range between pre- Quarterly Stocks report highs and post report lows.  Cash basis markets are trading above futures delivery values at historically high levels,  but corn basis is a bit erratic with Central Illinois processors pulling back on their basis bid. 

     There are more storms on the way now through Saturday night in the US.  More precip has been well wanted, but is now delaying spring field work.  So far good spring rains have not helped dismal HRW quality ratings.  An unusually deep snow pack in Canada, the Dakotas, and northern Mn and Wisc leading to fears of flooding as temps warm.   On the other hand the weather is expected to be warmer and drier in South America and Europe leading to harvest progress in S AM and better winter wheat prospects and spring field work  in Europe.

     Outside markets are taking another dip in price this morning, but so far charts show consolidation at early week lows.

           Helen Pound

 

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

CK

SK

SMK

BOK

WK

KWK

MWK

Today’s Pause

$6.62

$14.13

$405

$0.4871

$7.00

$7.38

$8.07

Change

-2

+2

+3

-0.3

-4

-4

-3

 

OVERNIGHT PERCENT CHANGE IN FUTURES VALUES   (8:30 am Central)

Grains

Corn

Beans

Meal

Oil

W

KC

Mpls

% Daily Change

 

  MAY 13

-0.2%

+0.1%

+0.8%

-0.6%

-0.5%

-0.5%

-0.4%

  JULY 13

-0.2%

+0.0%

+0.5%

-0.6%

-0.6%

-0.6%

-0.5%

  DEC 13

-0.1%

-0.1%

+0.4%

-0.7%

-0.6%

-0.2%

-0.2%

 

 

 

 

 

 

 

 

Macros

Dollar

10 Yr

S+P

Crude

Copper

Gold

Silver

% Daily Change

+0.5%

+0.1%

-0.8%

-1.0%

-2.7%

-0.3%

-2.2%

           

2009 INDEX (based on January 2, 2009)

Grains

Corn

Beans

Meal

Oil

Chi Wht

KC

Mpls

Index

161%

146%

134%

84%

115%

116%

123%

  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

99%

107%

168%

190%

246%

157%

201%

  Year Low

90%

103%

115%

162%

244%

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

(22 3/4)

(37 3/4)

(6.4)

0.07

3 1/2

5 3/4

(8 3/4)

% Full Carry

(163%)

(206%)

(97%)

16%

25%

37%

(47%)

Open Interest

259,160

133,988

50,586

79,765

83,884

43,139*

10,939*

Change

-19,099

-12,394

-9,661

-15,124

-7,615

-1,871

-1,134

Delivery Stocks

1.8

1.3

47.9

70.1

21.1

Registrations

22

0

0

12,237

1,153

*KC and Mpls 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

Wed 4.17                    9:30 am           EIA Energy Stocks

Thurs 4.18                   7:30 am           Export Sales

Fri 4.19                        2:00 pm           Cattle on Feed report

                                    2:00 pm           Commitment of Traders report

Week of 4.22.13

Fri 4.26                                                May Grain Options Expiration

Week of 4.29.13

Tues 4.30                                             First Notice Day May Grain Futures Deliveries

 

 

 

HEADLINES

 

04/17 05:22a CST  DJ Japan Seeks 105,425 Tons Milling Wheat in Tender – Official

 

 

Back Office Minneapolis Helen Pound