News From The Grain Floor-An Afternoon Recap

News

  • Oil World estimated ‘13/14 global bean production at 280.88 MMT
  • Oil World estimated ‘13/14 Brazilian bean production at 86.5 MMT (record) up 6% from ‘12/13
  • Oil World estimated ‘13/14 Argentine bean production at 53.0 MMT up 9.3% from ‘12/13
  • Oil World estimated ‘13/14 total South American bean production  at a record high 155.91 MMT
  • Oil World estimated ‘13/14 Chinese bean crop at 12.0 MMT
  • Oil World estimated ‘13/14 global oilseed production of 10 major products including soybeans, sunflower seed, and rapeseed at 484.9 MMT up 4.5% from ‘12/13
  • Hearing Cordonnier left his 2013 US bean yield estimate unchanged at 40.5 BPA
  • Hearing Cordonnier left his 2013 US corn yield estimate unchanged at 152.0 BPA
  • Mato Grosso farmers are waiting for rain to begin planting soybeans
  • Analysts estimated China’s 2014 US DDGS imports at 4.0 MMT
  • Japan seeks 108,901 tons of milling wheat for Oct-Dec shipment . Breakdown
    • 21,011 tons of US western white wheat
    • 20,520 tons of US HRW wheat
    • 21,300 tons of US dark northern spring what
    • 26,510 tons of western red spring Canadian wheat
    • 19,560 tons of Australian white wheat
  • South Korea seeks 20K tons of non-GM soybeans for Nov-Dec shipment
  • UK imported 328,511 tons of wheat in July vs. 169,056 tons in July 2012
  • Ukraine Ag Min said as of Sept 12th Ukraine has harvested 34.06 MMT of grain on 10.96 MH with an average yield of 3.11 TPH. A year ago Ukraine harvested 28.12 MMT of grain on 10.72 MH with an average yield of 2.62TPH
  • Russia’s Ag Min said as of Sept 16th Russia has harvested 71.1 MMT of grain on 31.8 MH with an average yield of 2.23 TPH. A year ago Russia harvested 62.2 MMT of grain on 34.0 MH with an average yield of 1.83 TPH
  • Weekly API energy inventory report comes out today at 330 pm CDT
  • Tomorrow is the second day of the FOMC policy meeting
  • Weekly DOE #s come out tomorrow at 930 am CDT expecting
    • Crude a draw of 1.2 MB
    • Gas a build of 500K
    • Distillates a build of 500K
  • Weekly US ethanol plant production report comes out tomorrow at 930 am CDT
  • Open outcry option players
    • New Edge bought 1,000 Nov bean 1300 puts sold 2,000 Nov bean 1240 puts at 5 ¾
    • New Edge bought 1,500 Jan bean 1240/1200 put spreads at 7- 8 ¼ debit
    • New Edge bought 2,400 Jan bean 1180/1160 put spreads at 2 ¼
    • ADM bought 600 July corn 500 puts and sold 600 July wheat 600 puts at 21 ½ debit
    • FI sold 1,200 July corn 450 straddles at 77 ¼-80 ½
    • Sal Stone (division of FC Stone) bought 1,000 March corn 470/450 put spreads at 8 ½-9
    • RJO bought 1,000 Nov corn 460 puts and sold 1,000 Dec corn 490 calls at 4 ½-5 debit
    • ADM sold 1,500 Nov corn 510 calls at 3
    • FI bought 1,000 Dec corn 400 puts at 2 ¾
    • EDF Mann sold 400 Dec wheat 630 puts at 16
    • Tenco bought 500 Dec wheat 660 calls at 16 ½ and sold 200 Dec futures at 642
    • Jefferies bought 500 Jan meal 410 puts and sold 500 Dec meal 380 puts at 9.00-9.75 debit
    • Jefferies bought 500 Jan meal 410 puts and sold 500 Dec meal 390 puts at 8.00-8.20
    • Rosenthal sold 700 March meal 380 puts at 8.50
    • ABN bought 500 Dec meal 450 calls at 8.75
    • New Edge sold 500 Dec meal 420 puts at 14.50
    • Knight sold 500 Oct bean oil 42 puts at 30
    • New Edge sold 500 Dec bean oil 42 calls at 125-127
    • Rosenthal bought 500 Dec bean oil 45 calls at 40

 

Estimated Fund Activity

  • Wheat bought 1K
  • Corn sold 3K
  • Beans sold 4K
  • Meal sold 1K
  • Bean oil sold 1K

 

Closing vols and ATM straddles

 

Corn

V vol 27 ½ 450 str 10 ½-12 ½

X vol 25 ¼ 450 str 29-30 ½

Z vol 23 ¾ 450 str 36 ½-37 ½

H vol 22 460 str 53-54 ½

K vol 22 ¼ 470 str 64-65 ½

Z vol 20 ¾ 490 str 87-89

 

 

Beans

X vol 22 1340 str 76-77 ½

Z vol 21 1340 str 94-97

F vol 20 ¼ 1340 str 113-115

H vol 20 1320 str 136-138

K vol 19 ¼ 1300 str 150-154

N vol 18 1300 str 160-164

 

Wheat

V vol 24 640 str 11-13

X vol 21 ¾ 640 str 35-37

Z vol 21 ½ 640 str 45-47

H vol 21 ¾ 650 str 73-75

K vol 22 ¼ 660 str 88-92

N vol 22 ¼ 650 str 98-102

 

KC Wheat

V vol 21 690 str 11-13

X vol 20 690 str 35-37

Z vol 20 690 str 46-48

H vol 20 ¼ 700 str 72-76

N vol 21 690 str 99-104

 

Minneapolis wheat

Z vol 17 ¾ 710 str 39-44

H vol 18 720 str 62-69

K vol 18 ½ 720 str 76-85

N vol 19 730 str 87-97

 

Meal

V vol 35 430 str 10-14

X vol 30.5 430 str 29-30

Z vol 24 430 str 34.5-36.0

F vol 22.75 420 str 39.5-41.5

H vol 21 420 str 44.5-46.5

K vol 19.5 400 str 46.5-49.0

 

Bean oil

v vol 18.5 42 str 50-60

X vol 18 42.5 str 190-205

Z vol 17.25 42.5 str 240-255

F vol 17 42.5 str 285-305

H vol 16.5 43 str 345-375

K vol 16.25 43 str 405-445

 

Crush quotes

OPEN             CLOSE

OCT                63-64.5          62.5-63.5

DEC                57.5-59          60-60.5

JAN               59.5-60           57-59

MCH              63-63.5          62.5-64

MAY              63-64              64.5-65

JLY                 63-64.5           64-64.5

AUG             66-72               66-70

DEC 14         71-72              70-72

 

Crush players

 

New Edge sold 150 Dec 61-61.25

 

RJO sold 100 Dec 61

 

 

Thank you,

 

Kate Rosenberg