News From The Floor-An Afternoon Recap

News

  • Record blizzard in South Dakota over the weekend killed up to 60,000 cattle
  • Oil World
    • Estimated US 4th  quarter soybean exports at 20.0 MMT (record) vs. 19.2 MMT a year ago and vs. 14.3 MMT 2 years ago
    • Said the US exported 5.83 MMT of beans between March – September vs. 15.2 MMT a year ago and vs. 10.4 MMT 2 years ago
    • Said Brazil exported 39.6 MMT of beans between March – September vs. 29.0 MMT a year ago and vs. 27.9 MMT 2 years ago
    • Oil World said Oct , Nov , and Dec US soybean exports to average 6.7 MMT per month vs. 1.14 MMT in September and vs. 370,000 tons in August
    • Estimated South America’s 4th quarter bean exports at 3.78 MMT vs. 2.16 MMT a year ago and vs. 7.23 MMT 2 years ago
    • Said Brazil has 1.4 MMT of beans left for export in the 4th quarter
    • Said Brazil exported 40.6 MMT of beans in the first 9 months of the year
    • Estimated Argentina’s 4th quarter bean exports at 1.74 MMT vs. 600,000 tons a year ago
  • Egypt FIHC bought 30K tons of bean oil for Nov shipment
  • JCI estimated China’s Oct bean imports at 4.7-4.9 MMT , estimated Nov imports at 6.0 MMT and estimated Dec imports at 6.0 MMT
  • JCI said China bought 16 US corn cargoes over their holiday last week and bought 4-5 cargoes of US sorghum
  • Hearing rumors China only bought 2 cargoes of US corn off the PNW not 900,000 tons that was rumored yesterday
  • Ukraine Ag Min said Ukraine exported 6.8 MMT of grain between July 1st – Oct 8th up 16% from a year ago
  • Ukraine Ag Min said Ukraine exported 2.3 MMT of grain in September
  • Ukraine Ag Min said Ukraine exported 770,000 tons of grain the first week of October
  • France customs data showed that France exported 1.8 MMT of soft wheat in August
  • France customs data showed that France exported 2.6 MMT of soft wheat between July – August up 17% from a year ago
  • Today was the second day of the Goldman Sachs roll. GS roll ends Friday. They are rolling long Nov bean positions into Jan. Activity on the close
    • Pit = 701 Nov/Jan spreads traded at 1 – ADM bought 500 Nov Jan bean spreads at 1 ABN bought 200 Nov Jan bean spreads at 1
    • Electronic = 10,438 Nov/Jan spreads traded at 1
  • Other index funds are rolling long Dec meal positions into Jan . This roll ends Friday. Activity on the close
    • Pit = 0 Dec/Jan spreads traded
    • Electronic =  3,378 Dec/Jan spreads traded at 3.80-4.10
  • Other index funds are rolling long Dec bean oil positions into Jan. This roll also ends on Friday. Activity on the close
    • Pit = 1,100 Dec /Jan spreads traded at 32
    • Electronic = 3,763 Dec/Jan spreads traded at 32-31
  • Today was the last day of the Deutsche Bank roll. They were rolling Nov 2013 long bean positions into Nov 2014. Activity on the close
    • Pit = 150 Nov/Nov spreads traded at 111
    • Electronic = 3,154 Nov/Nov spreads traded at 108 ¼ -113
  • Nov beans closed below the 50 day moving average of 1297. Nov beans settled at 1288 ¾
  • Nov beans closed above the 100 day moving average of 1285 ¼ . Nov beans settled at 1288 ¾
  • Weekly API energy inventory report comes out today at 330 pm CDT
  • CONAB comes out tomorrow morning with their first estimates for Brazil’s ‘13/14 crop production.
    • USDA estimated Brazil’s ‘13/14 bean crop at 88.0 MMT
    • USDA estimated Brazil’s ‘13/14 corn crop at 72.0 MMT
  • Weekly DOE #s come out tomorrow at 930 am CDT expecting
    • Crude a build of 1.4 MB
    • Gas a build of 1.1 MB
    • Distillates a draw of 1.3 MB
  • Weekly US ethanol plant production report comes out tomorrow at 930 am CDT
  • Open outcry option players
    • Macquarie sold 750 March bean 1360 calls at 28 ½ and bought 240 March futures at 1284
    • ADM bought 800 Dec bean 1280/1240 put spreads at 15-15 ¼
    • FC Stone sold 1,000 Dec corn 480/430 call spreads at 30 ¼ and bought 500 Dec futures at 446
    • Jefferies sold 1,000 Dec corn 420 puts at 5 ¾
    • FC Stone bought 1,000 Dec corn 450 calls and sold 500 Dec corn 450 puts at 28 5/8 debit
    • FI bought 1,000 week 2 crn 440 puts at 3 ¼-3 ½
    • Mizuho sold 500 Dec wheat 740 calls at 8 ¼ -8 3/8 and bought 120 Dec futures at 696
    • New Edge bought 2,000 Dec 2014 wheat 520/500 put spreads at 2 1/8
    • Tenco bought 2,000 Dec wheat 700 calls and sold 1,000 Dec wheat 670 calls at 2 ½ -3 debit
    • Tenco bought 400 Dec meal 410 puts at 11.15 and bought 160 Dec futures at 418.00
    • Tenco bought 400 Dec meal 390 puts at 5.75
    • Bunge sold 500 Dec meal 420 calls at 11.50-11.75
    • Tenco bought 800 Dec bean oil 40.50 calls at 90 and sold 352 Dec futures at 4025

 

 

Estimated fund activity

  • Wheat sold 1K
  • Corn sold 7K
  • Beans sold 5K
  • Meal sold 3K
  • Bean oil bought 3K

 

Closing vols and ATM straddles

 

Corn

X vol 20 440 str 14-16

Z vol 22 440 str 27-28

H vol 22 450 str 48-49

K vol 22 ¼ 460 str 61-63

N vol 23 ½ 470 str 72 ½-74

U vol 25 ¼ 480 str 88-90

Z14 vol 23 ¾ 480 str 94 ½-96 ½

 

Beans

X vol 18 ¾ 1290 str 41 ½-43 ½

Z vol 18 ¼ 1290 str 68-69 ½

F vol 18 ¼ 1290 str 87-89

H vol 18 ¼ 1280 str 113-114

K vol 18 1260 str 128-131

N vol 17 ¾ 1260 str 145-149

 

Wheat

X vol 19 ½ 690 str 23-25

Z vol 20 ¾ 690 str 40-41

F vol 20 ¾ 700 str 53-56

H vol 21 ¼ 700 str 72-74

K vol 21 ¾ 710 str 88-92

N vol 21 ¾ 700 str 99-103

 

KC wheat

X vol 18 ½ 760 str 23-25

Z vol 20 ¼ 760 str 42-45

H vol 21 760 str 75-79

K vol 21  760 str 91-96

N vol 21 740 str 100-105

 

Minneapolis wheat

Z vol 19 750 str 34-40

H vol 19 760 str 62-70

K vol 19 ½ 770 str 78-86

N vol 19 ½ 770 str 88-96

U vol 20 770 str 110-112

Z vol 20 780 str 110-127

 

Meal

X vol 25.5 420 str 18-19

Z vol 25 420 str 29-31

F vol 23 410 str 34.5-36.5

H vol 22 400 str 42-44

K vol 20.75 390 str 46-49

N vol 20 390 str 50-54

 

Bean oil

X vol 17 40.5 str 115-135

Z vol 17.25 40.5 str 190-205

F vol 17 40.5 250-275

H vol 17 41 str 330-360

K vol 16.5 41.5 str 385-415

N vol 16.5 41.5 str 440-480

 

Crush quotes

OPEN             CLOSE

OCT             90-1.00          94.5-97

DEC             68.5-69          68-68.5

JAN             62.5-63          63.5-64

MCH           62.5-63.5      63-63.5

MAY           62.5-63.5       62.5-63.5

JLY               63-64              62-62.5

AUG           65-66.5           65.5-66.5

DEC 14       69-70               70-71

 

Crush player

 

ADM sold 100 Dec at 68.5

 

Oil Share player

 

Rosenthal bought 58 Dec oil / 40 Dec meal at 32.90%

 

 

Thank you,

 

Kate Rosenberg