News From The Grain Floor-An Afternoon Recap

News

  • Day two of the Pro Farmer Midwest Crop Tour . Tour ends on Thursday.
    • Central and north central Indiana average yield at 186.5 BPA vs. 3 year average of 141.14 BPA
    • Central and north central Indiana average soybean pod count at 1,156.96 pods vs. 3 year average of 1,136.48 pods
    • West central Indiana average corn yield at 179.2 BPA vs. 114.0 BPA a year ago and vs. 3 year average of 143.5 BPA
    • West central Indiana average soybean pod count at 1,275 pods vs. 852 pods a year ago and vs. 3 year average of 1,119 pods
    • Southeast Nebraska average yield 165.0 BPA vs. 132.0 BPA a year ago and vs. 3 year average of 148.0 BPA
    • Southeast Nebraska average soybean pod count at 1,089 pods vs. 894 pods a year ago and vs. 3 year average of 1,162 pods
  • Argentine Ag Secretary estimated ‘12/13 corn exports at 22-24 MMT
  • Syria canceled tender for 200K tons of soft wheat
  • Hearing Dr. Cordonnier left his 2013 US corn yield estimate unchanged at  154.0 BPA
  • Hearing Dr. Cordonnier left his 2013 US bean yield estimate unchanged at 42.0 BPA
  • IMEA (Mato Grosso Institute of Agricultural Economics) said Mato Grosso has sold 27% of their ‘13/14 bean crop vs. 55% a year ago
  • Manitoba weekly crop report
    • Winter wheat harvest – good yields and quality being reported
    • Spring wheat, oats, and barley harvest has just begun and good yields and quality is being reported
  • Weekly API energy inventory report comes out today at 330 pm CDT
  • 3 day international grains conference begins tomorrow in Australia
  • Stats Canada comes out tomorrow at 730 am CDT with their ‘13/14 Canadian crop estimates are
  • Weekly DOE #s come out tomorrow at 930 am CDT
  • Weekly US ethanol plant production comes out tomorrow at 930 am CDT
  • Open outcry option players
    • Tenco bought 2,000 Nov bean 1200/1100 put spreads at 10 ¾ – 11
    • FI bought 1,000 Nov bean 1460 calls at 6 ¾ – 6 7/8
    • JP Morgan bought 1,000 Nov bean 1240 puts and bought 300 Nov bean futures
    • New Edge bought 1,000 Nov 1200/1240 call spreads sold 1,000 March bean 1200/1240 call spreads at 5 ½ debit
    • New Edge bought 1,800 Dec corn 400/380 put spreads at 1 ½
    • Rand bought 2,000 Dec corn 430 puts at 8-8 ¼
    • Jefferies bought 2,000 Short dated Sept corn 490 puts and sold 2,000 Oct corn 450 puts at 6 ¾ debit
    • GFI bought 2,000 Dec corn 460 puts at 15 ¾ -15 7/8 and bought 340 Dec corn futures at 482
    • ADM bought 500 Dec meal 370/340 put spreads at 5.00
    • ADM bought 500 March meal 350/390 put spreads at 16.00
    • Bunge sold 800 Dec meal 400 calls at 20-20.5
    • All wheat average estimate 29.7 MMT , range of estimates are 27.4-30.0 MMT. Vs. Ag Can estimate on June 14th of 29.4 MMT and vs. Stats Can 5 year average of 26.3 MMT
    • Durum wheat average estimate 5.0 MMY, range of estimates are 4.8-5.1 MMT vs. Ag Can estimate on June 14th of 4.9 MMT and vs. Stats Can 5 year average of 4.5 MMT
    • Canola average estimate 15.0 MMT , range of estimates are 14.6-15.3 MMT. Ag Can estimate on June 14th of 14.1 MMT and Stats Can 5 year average of 13.2 MMT
    • Oats average estimate 3.2 MMT , range of estimates 3.0-3.3 MMT vs. Ag Can estimate on June 14th of 3.2 MMT and vs. Stats Can 5 year average of 3.1 MMT

 

Estimated Fund Activity

  • Wheat sold 2K
  • Corn sold 8K
  • Beans sold 5K
  • Meal sold 2K
  • Bean oil sold 3K

 

Crush quotes

 

OPEN                CLOSE

SEP          79-82                 72-73.5

OCT         72-73                 71.5-73

DEC         67.25-67.75      68.5-69

JAN         65-66.5              66-67

MCH       67-67.5              68-69

MAY       69-70                  70-71

JLY           69-70                  69.5-70.5

DEC 14    73.5-75              74-75

 

Crush players

 

Bunge sold 150 July at 70

 

RJO sold 20 Dec at 68

 

RJO bought 20 March at 68

 

Thank you,

 

Kate Rosenberg