News From The Floor-An Afternoon Recap

News

  • Egypt bought 235,000 tons of wheat for November shipment Breakdown
    • 60K from Romania
    • 60K from Russia
    • 115K from Ukraine
  • Hearing Cordonnier left his US 2013 corn yield estimate unchanged at 152.0 BPA
  • Hearing Cordonnier left his US 2013 bean yield estimate unchanged at 40.5 BPA
  • Grain.gov.cn estimated China’s ‘13/14 DDGs imports at 4.0 MMT vs. ‘12/13 imports of 2.0 MMT
  • Paraguay’s Ag Min estimated ‘13/14 bean crop at 9.3 MMT unchanged from ‘12/13 record crop.
  • TALK China has bought 45-50 Brazilian bean cargoes over the past 10 days for Feb –March shipment
  • Bloomberg article – US and EU selling wheat at fastest pace in 6 years
  • Bloomberg survey – India’s August palm oil imports estimated at 500,000 tons down 29% from August 2012.
  • Bloomberg survey – India’s August total veg oils imports estimated at 740,000 tons down 18% from a year ago
  • Sunvin Group said India’s Sept 1st palm oil port stocks were at 1.65 MMT vs. August 1st stocks of 1.99 MMT
  • Sunvin Group expects India’s Oct 1st palm oil port stocks to fall to 1.35 MMT
  • Solvent Extractors Association of India will come out this week with India’s August import data
  • Corn , meal, and bean cash market is weak
  • Weekly API energy inventory report comes out today at 330 pm CDT
  • Tomorrow the NY Stock Exchange will observe 4 moments of silence for the victims of September 11th. They will last one minute, first one at 846 EDT (746 CDT), second one at 903 EDT (803 CDT), third one at 959 EDT (859 CDT), and the final one will be at 1029 EDT (929 CDT).
  • Tomorrow the CBOT will observe 2 moments of silence for the victims of September 11th . They will last one minute , first one is at 718 am CDT and the second on is at 828 am CDT
  • Weekly DOE #s come out tomorrow at 930 am CDT expecting
    • Crude a draw of 2.0 MB
    • Gas a draw of 1.0 MB
    • Distillates a build of 500,000
  • Weekly US ethanol plant production report comes out tomorrow at 930 am CDT
  • Open outcry option players
    • Mizuho bought 1,500 Nov bean 1370/1450 call spreads and sold 1,500 Nov 1250 puts at 12-13 debit
    • New Edge bought 2,500 Nov bean 1180/1170 put spreads at ¾ debit
    • Morgan Stanley sold 1,000 Nov bean 1400 calls at 29 ½ and bought 380 Nov futures at 1359
    • GFI bought 1,000 Dec corn 400p/500c strangles and sold 1,000 Nov corn 420p/490c strangles at ¾ credit
    • RJO sold 1,000 Dec corn 420 puts at 6 and sold 180 Dec futures at 466
    • ADM bought 1,000 Oct corn 510 calls and bought 1,000 Oct corn 520 calls at 1 ½
    • ADM sold 2,000 Nov corn 550 calls/ 420 put strangles at 11
    • FC Stone bought 2,000 Dec corn 480 calls and sold 3,000 Dec corn 520 calls at 14 ½ debit
    • ICap bought 1,000 Dec corn 550/600 call spreads at 2
    • GFI bought 1,000 Dec corn 420 puts at 6 5/8 and bought 200 Dec futures at 463
    • EDF Mann bought 500 Nov wheat 620 puts at 9 ¾ -10
    • ABN sold 400 Oct wheat 645 calls /640 put strangles at 19-19 ¼
    • ADM sold 750 Oct meal 440 calls at 7-7.50
    • ADM sold 750 Oct meal 450 calls at 4.50-5.00
    • Jefferies bought 500 March meal 360/300 put spreads at 4.50
    • Bunge bought 500 Oct meal 430 puts sold 500 Dec meal 440 puts at 15.50 credit
    • Bunge bought 500 Oct meal 430 puts and sold 500 Dec meal 430 puts at 9 credit
    • Rosenthal bought 500 March meal 380 puts at 10.00
    • New Edge bought 400 Dec bean oil 50 calls at 10

 

Estimated Fund Activity

  • Wheat bought 2K
  • Corn bought 6K
  • Beans sold 1K
  • Meal sold 2K
  • Bean oil sold 1K

 

Closing vols and ATM straddles

 

Corn

V vol 32 ½ 470 str 21-22

X vol 28 ½ 470 str 37-38 ½

Z vol 26 ½ 470 str 44-45

H vol 24 ½ 480 str 62 ½-63 ½

K vol 24 ¼ 490 str 73 ½-75 ½

Z14 vol 21 ½ 500 str 94-96

 

Beans

V vol 26 ¾ 1350 str 50-52

X vol 23 ¾ 1350 str 89 ½ -91

F vol 21 ¼ 1360 str 125-127

H vol 20 ¼ 1340 str 144-147

K vol 18 ¾ 1320 str 154-156

N vol 18 1300 str 164-168

 

Wheat

V vol 25 ½ 650 str 21-23

X vol 23 ¾ 650 str 42-44

Z vol 23 650 str 52-54

H vol 22 ¾ 660 str 79-81

K vol 23 670 str 93-96

N vol 23 660 str 103-107

 

KC wheat

V vol 21 ¾ 700 str 20-22

X vol 21 ¼ 700 str 41-44

Z vol 20 ¾ 700 str 51-54

H vol 20 ¾ 710 str 76-80

N vol 21 ½ 700 str 103-108

 

Minneapolis wheat

Z vol 18 ½ 700 str 44-49

H vol 19 ¼ 720 str 68-76

K vol 19 ½ 730 str 82-90

N vol 19 ½ 730 str 93-103

 

Meal

V vol 38 430 str 23-26

X vol 30 430 str 36-38

Z vol 26.75 430 str 41-43

F vol 23.5 420 str 43-45

H vol 21.5 420 str 47-50

K vol 19.5 400 str 47-51

 

Bean oil

V vol 19.5 43 str 110-130

X vol 18.5 43 str 215-235

Z vol 17.75 43 str 260-285

F vol 17.25 43.5 str 310-340

H vol 16.75 43.5 str 370-400

K vol 16.5 44 str 430-460

 

Crush quotes

 

OPEN           CLOSE

SEP          90-1.00        80-90

OCT         62-63            58-59.5

DEC         57-57.5        54-54.5

JAN         56.5-57.5     51-54

MCH       61-62            58-60

MAY       61.5-62        59.5-60.5

JLY           60.5-62        59.5-60

DEC 14   70-71.5         69.5-71

 

Crush players

 

New Edge sold 200 Dec at 56-57

 

New Edge bought 200 March at 60-61

 

Thank you,

 

Kate Rosenberg