News From The Floor-An Afternoon Recap

News

  • Argentina’s Maizar Corn Industry Chamber estimated China’s ‘13/14 corn imports from Argentina at 500K tons – 1.0 MMT
  • Buenos Aires Grains Exchange Weekly Report
    • 98.8% of Argentina’s corn crop has been harvested vs. 97.7% a week ago
    • Argentina’s 2013 average corn yield at 7.27 TPH vs. average of 6.74 TPH
    • Estimated Argentina’s 2013 corn crop at 24.8 MMT unchanged from previous estimate
  • US farmers selling noted
  • Weekly US COT report comes out tomorrow at 230
  • Open outcry option players
    • Tenco bought 1,300 Oct bean 1300 calls at 15
    • Rosenthal bought 800 Nov bean 1400 calls at 5 ½- 5 ¾
    • ADM sold 700 SDFU 1240 calls at 25
    • JP Morgan sold 1,000 Oct soybean 1260 calls at 32 ¾ and bought 500 Nov bean futures at 1260
    • Macquarie sold 1,000 Nov bean 1280/1100 put spreads at 49 and sold 500 Nov bean futures at 1259
    • RJO bought 750 Nov bean 1300 calls sold 1,500 Nov bean 1340 calls at 4 ½-4 ¾
    • Rand bought 1,000 Nov bean 1260 puts at 39 ½
    • Rand bought 500 Nov bean 1250 puts at 35 ½
    • Rand bought 500 Nov bean 1240 puts 31 ½ -31 ¾
    • ADM bought 2,000 week 3 corn 470 calls at 2 ¾-3 ¼
    • ABN bought 2,000 Oct corn 475 calls and sold 2,000 Oct corn 455 puts at 2 1/8 debit and sold 1,600 Dec corn futures at 467
    • ABN bought 2,000 Dec corn 450/420 put spreads at 8 ¾ and bought 320 Dec futures at 473
    • FI sold 1,500 Sept short dated corn 500/450 put spreads at 28 ½
    • FI bought 1,000 Oct corn 440 puts at 7 ½
    • FI bought 2,000 Oct corn 480/500 call spreads at 5 ½
    • Tenco sold 2,000 March corn 400 puts at 6 ¼
    • Rand sold 1,000 Dec corn 480 straddles at 54 ¼
    • Linn Group bought 1,400 Dec corn 500 calls at 12 ½-12 ¾
    • JP Morgan bought 500 Dec wheat 650/700 call spreads at 14 ½
    • ABN sold 550 Sept wheat 660 calls at 2
    • JP Morgan bought 1,200 Dec wheat 650/700 call spreads at 14 ½-16
    • ADM bought 700 Dec meal 400 calls at 13.75
    • RJO bought 700 Dec meal 380 puts sold 700 Oct meal 370 puts at 11-11.50 debit
    • ADM sold 400 Oct bean oil 50 calls at 2
    • Mizuho sold 450 Dec bean oil 43 puts at 125

 

Estimated Fund Activity

  • Wheat bought 3K
  • Corn bought 20K
  • Beans bought 10K
  • Meal bought 4K
  • Bean oil bought 3K

 

Closing vols and ATM straddles

 

Corn

U vol 28 ¼ 480 str 16-19

V vol 29 ½ 470 str 35-36 ½

X vol 28 ¼ 470 str 46 ½-48

Z vol 27 470 str 52 ½-53 ½

H vol 25 480 str 69-70 ½

K vol 24 490 str 77-79

Z14 vol 21 510 str 95-97

 

Beans

U vol 22 ½ 1280 str 35-37

X vol 19 1260 str 84-85 ½

F vol 18 1260 str 109-111

H vol 18 1260 str 129-131

K vol 17 ¾ 1260 str 143-146

N vol 18 ½ 1240 str 156-160

 

Wheat

U vol 21 ½ 640 str 16-19

V vol 22 ½ 650 str 33-38

Z vol 21 ¾ 650 str 57-59

H vol 21 ¾ 660 str 81-83

K vol 22 ¼ 670 str 97-101

N vol 22 ¾ 670 str 109-114

 

KC Wheat

U vol 20 700 str 16-18

V vol 20 ½ 710 str 35-38

Z vol 20 ½ 710 str 59-62

H vol 20 ½ 710 str 82-86

 

Minneapolis wheat

U vol 16 740 str 13-20

Z vol 17 740 str 50-58

H vol 18 750 str 73-83

K vol 19 760 str 90-105

N vol 19 760 str 100-115

 

Meal

U vol 33 410 str 15.5-17.5

V vol 27.5 390 str 26.5-27.5

Z vol 24.75 390 str 39.5-42

F vol 23.5 390 str 43.5-45.5

H vol 22.25 390 str 48.5-52.5

K vol 21.5 380 str 51.5-55.5

 

Bean oil

U vol 17.5 43 str 80-95

V vol 17 43 str 175-195

Z vol 16.5 43.5 str 295-305

F vol 16.25 43.5 str 325-350

H vol 16.25 44 str 385-415

K vol 16.25 44 str 445-475

 

Crush Quotes

 

OPEN           CLOSE

SEP       95-97.5        85-88

OCT      67.5-69        70-71.5

DEC       62.5-63       65-66

JAN       62-62.5       63-64

MCH     66-67           67-68

MAY     67-68           69-70

JLY         68-69           69-70

 

Crush Players

 

ADM bought 200 XHH at 64.5-65.5

 

Tenco sold 100 Oct at 70-71

 

Thank you,

 

Kate Rosenberg