News From The Floor-An Afternoon Recap

News

  • Lanworth estimated ‘13/14 US corn crop at 13.483 BB unchanged from previous estimate
  • Lanworth estimated ‘13/14 US bean crop at 3.112 BB unchanged from previous estimate
  • Lanworth estimated ‘13/14 global wheat output at 706.0 MMT vs. previous estimate of 704.0 MMT
  • Lanworth estimated ‘13/14 global corn output at 949.0 MMT unchanged from previous estimate
  • Lanworth estimated ‘13/14 global bean output at 284.0 MMT unchanged from previous estimate
  • Linn Group estimated 2013 US corn crop at 13.979 BB vs. USDA estimate of 13.843 BB and vs. previous estimate of 13.751 BB
  • Linn Group estimated 2013 US bean crop at 3.184 BB vs. USDA estimate of 3.14 BB and vs. previous estimate of 3.139 BB
  • Israel bought 40K optional origin corn possibly from the Ukraine for Dec-Jan shipment
  • Ukraine Ag Min said as of 10/02 Ukraine has harvested 37.72 MMT of grain (74% of total area) with an average yield of 3.24 TPH. A year ago the average grain yield was 2.76 TPH
  • Today was the first day of the Deutsche Bank roll. The roll is 5 days long. They are rolling long Nov 2013 bean positions into Nov 2014. Activity
    • Pit – 175 Nov – Nov traded at 114 ¾
    • Electronic – 3,291 traded at 114 ¾
  • Nov beans closed below the 200 day moving average of 1274 ¼ . Nov beans settled at 1273 ¾
  • Dec wheat closed above the 100 day moving average of 679 ¼ . Dec wheat settled at 686
  • China is on holiday for the remainder of the week and Monday. There will be no Chinese bean auction tomorrow due to holiday
  • Weekly US jobless claims report comes out tomorrow at 730 am CDT , unless the US government is still shutdown.
  • Weekly US export sales report comes out tomorrow at 730 am CDT, unless the US government is still shutdown. Expecting
    • Wheat 500-750K
    • Corn 500-700K
    • Beans 800K – 1.1 M
    • Meal 170-380K
    • Bean oil 10-25K
  • Weekly EIA Nat Gas storage report comes out tomorrow at 930 am CDT expecting +94 B
  • Open outcry option players
    • New Edge bought 2,000 Dec bean 1310/1350 call spreads at 11 ½
    • Vision sold 2,000 Jan bean 1400 calls at 12
    • Vision sold 4,000 Nov bean 1000 puts at 3/8
    • GFI bought 1,500 Nov bean 1260 puts at 20 ¾ -21 ½ and bought 300 Nov futures at 1273
    • RJO sold 3,000 Dec corn 430 puts at 10 3/8-11
    • Rand sold 1,500 Dec corn 450 puts at 20-21
    • FC Stone sold 1,700 March corn 400/450 put spreads at 17 1/8 -17 ¾ and sold 545 March corn futures at 451-452
    • ADM sold 400 Dec wheat 700 puts at 32 ½
    • FI sold 700 Dec wheat 700 calls at 17 ½-18 ¼
    • FI bought 400 Dec meal 420/450 call spreads at 6.75
    • Tenco bought 1,000 Jan meal 440 calls at 7.75
    • Mizuho bought 500 Dec bean oil 46.50 calls at 9
    • ADM sold 500 Dec bean oil 40 puts at 95-100
    • FC Stone bought 1,000 Nov bean oil 39.5/41 call spreads at 55
    • JP Morgan bought 500 Dec bean oil 40 puts at 135 tied to futures ta 3950

 

Estimated Fund Activity

  • Wheat bought 2K
  • Corn bought 1K
  • Beans bought 5K
  • Meal  bought 4K
  • Bean oil  sold 4K

 

Closing vols and ATM straddles

 

Corn

X vol 22 440 str 18-19

Z vol 21 ½ 440 str 27 ¾ -28 ¾

F vol 20 ¾ 450 str 35 ¾ -36 ¾

H vol 21 ¾ 450 str 47-49

K vol 22 ¼ 460 str 60-61 ½

N vol 22 ¾ 470 str 70 ½-72.

U vol 24 470 str 84-85

Z14 vol 22 ¾ 480 str 91-93

 

Beans

X vol 20 ¼ 1270 str 52-53

F vol 18 ½ 1280 str 91 ½-93

H vol 19 1260 str 118-120

K vol 18 ½ 1240 str 134-137

N vol 18 1240 str 148-152

 

Wheat

X vol 21 ½ 690 str 29-31

Z vol 21 ¾ 690 str 44-46

F vol 22 690 str 57-59

H vol 22 690 str 75-77

K vol 22 700 str 91-95

N vol 22 680 str 100-103

 

KC wheat

X vol 20 ¼ 750 str 30-32

Z vol 20 ¾ 750 str 46-49

H vol 20 ¾ 750 str 76-80

K vol 21 740 str 91-95

N vol 21 720 str 100-105

 

Minneapolis wheat

Z vol 19 750 str 39-43

H vol 18 ¾ 750 str 64-72

K vol 19 750 str 78-86

N vol 19 750 str 87-97

 

Meal

X vol 26 410 str 21.5-22.5

Z vol 25 410 str 31-32

F vol 23 410 str 36-37.5

H vol 21.75 400 str 43-45

K vol 19 390 str 46-50

N vol 19 390 str 49-52

 

Bean oil

X vol 18.5 39.5 str 145-165

F vol 17.75 39.5 str 205-225

F vol 17.5 39.5 str 265-300

H vol 17 40 str 325-350

K vol 16.5 40.5 str 385-415

N vol 16.5 40.5 str 430-480

 

Crush quotes

OPEN             CLOSE

OCT          72-73              74-75.5

DEC           63.5-64           65-65.5

JAN           58-59              58.5-59.5

MCH         62-62.5          59.5-61

MAY         63.5-64.5       60.5-62

JLY            64.5-65            62-63

AUG         65.5-66.5        65-66.5

DEC 14     71-72               70-71

 

 

Crush players

 

ABN sold 40 July at 63.5

 

RJO sold 30 Dec at 64.5

 

RJO bought 30 March at 60.5

 

Rosenthal sold 100 Dec 64.5-64.75

 

 

Thank you,

 

Kate Rosenberg