From The Floor-An Afternoon Recap

News

 

US Export inspections from today at 10 am CST

  • Wheat at 427,239 tons (15.697 MB) expecting 350-450K tons (12.86-16.53 MB)
  • Corn at 791,947 tons (31.17 MB) expecting 700-825K tons (27.55-32.47 MB)
  • Beans at 1,270,993 tons (46.6 MB) expecting 1.2 – 1.35 MMT (44.09-49.06 MB)

 

Shiploader at Brazil’s No. 2 soy exporting port damaged -source – RTRS

 

Louis Dreyfus estimated Western Canada’s ‘14/15 canola planting area at 21.51 MA up 7% from ‘13/14

 

Louis Dreyfus estimated Western Canada’s ‘14/15 canola crop at 16.7 MMT down 9% from ‘13/14

 

AgRural said Brazil bean harvest is 30% complete vs. 35% a year ago

 

Safras e Mercado will update their Brazilian bean crop estimate next week. They said the range of guesses are 86.0-89.0 MMT vs. USDA estimate of 90.0 MMT

 

Ukraine Ag Min said Ukraine exported 23.9 MMT of grain between July 1- Feb 24th up 36% from a year ago

 

Morocco seeks 260,000 tons of local wheat

 

May meal made a new contract high of 450.00

 

May beans made a new contract high 1378

 

SGS and Intertek Agri Services estimate Malaysia’s Feb 1st – Feb 25th palm oil exports tomorrow

 

Weekly API energy inventory report comes out tomorrow at 330 pm CST

 

Estimated fund activity

  • Wheat bought 4,000
  • Corn sold 2,000
  • Beans bought 7,000
  • Meal bought 3,000
  • Bean oil sold 2,000

 

 

Open outcry option players

 

Corn:

Bache bot 4000 N 460 calls/sold 4000 CN (synthetic put)

JPM bot 1500 K 455 calls/sold 1500 H’15 410 puts

RJO bot 1200 K 460-470 call spreads

FCS sold 1000 N 450 calls

FCS sold 500 K 440 calls

 

Beans:

ADM Bot 250 April 1320 Puts 7.25-7.5

EDF Bot 500 May 1320 Puts 14.75-17

FI Sold 250 April 1350 Calls 33

ABN Bot 300 Jul 1160 Puts 4.25

ABN Bot 700 Jul 1180 Puts 5.375-5.5

Rosenthal Sold 1500 May 1250 Puts 4.125-4.25

Bunge Sold 300 SDFK 1150 Puts 21.5-22

ICAP Bot 400 May 1370 straddles 71

FI Bot 1000 April 1420 Calls 7.5-7.875

FI Sold 600 April 1330 Straddles 60-60.25

Tenco Bot 500 April 1250 Puts 1

ADM Bot 350 April 1300 Puts (synthetically Bot 1300 calls/ Sold futures) 3.625-4.25

ABN Bot 250 Jul 1440 Calls/ Sold 250 Jul 1300 Puts 5 credit

Rosenthal Sold 400 SDFK 1200 Calls 11

Fimat Bot 900 Sep 1140/1040 Put spds 17.5-18 db

Bunge Bot 500 WK4 1380 Calls 9-10.5

EDF Sold 200 May 1400 Calls 25

FI Bot 600 May 1380 Straddles 71-71.5

Rosenthal Bot 200 May 1320 Puts 15.5/ Bot 50 May futures 1372

Tenco Bot 1000 WK4 1360 Puts 7-7.875

ADM Sold 250 May 1380 Puts 38-39.5

Fimat Sold 250 May 1280 Puts/ Sold 250 May 1420 Calls 25.75 crdit/ Bot 50 May futures 1376

 

Wheat:

JPM bot 1000 J 595 puts/sold 2000 J 575 puts

JPM bot 1000 J 620-650 call spreads

Tenco sold 600 K 590-570 put spreads

 

Meal:

Tenco bot 2000 N 460 calls

Tenco sold 700 N 430-400 put spreads

JPM bot 1000 N 430-400 put spreads

 

Oil:

Tenco sold 500 K 40/41/42/43 call condors

Tenco sold 1500 J 41 calls

Newedge bot 300 J 41 puts/sold 300 N 44 calls

Newedge bot 200 N 35 puts

 

Crush:

Macquarie bot 15 May 40 puts at 3

 

Closing vols and ATM Straddles

 

Corn

J vol 16 ¾ 460 str 15 ¾ -16 ¾

K vol 18 ¾ 460 str 27 ½-27 ¾

N vol 22 460 str 45-46

U vol 24 ½ 460 str 62-63

Z vol 22 ¾ 460 str 72 ½ -73 ½

 

Beans

J vol 16 3/8 1370 str 47 ½-49 ½

K vol 16 1370 str 71 ½-73 ½

N vol 16 3/8 1360 str 100-103

X vol 16 1/8 1160 str 120-123

 

Wheat

J vol 23 ½ 620 str 32-33

K vol 23 ½ 620 str 47-48

N vol 24 620 str 66-68

U vol 24 ½ 630 str 85-86

Z vol 23 ¼ 640 str 89-92

 

KC wheat

J vol 21 680 str 32-34

K vol 21 680 str 49-52

N vol 22 680 str 70-72

U vol 21 680 str 86-89

Z vol 21 690 str 101-104

 

Minneapolis wheat

J vol 20 660 str 22-30

K vol 21 660 str 40-49

N vol 20 660 str 55-63

U vol 21 670 str 72-81

Z vol 20 680 str 85-95

 

Meal

J vol 21.75 450 str 20.5-22.5

K vol 20.5 450 str 29.5-31.5

N vol 20 430 str 38-40

Q vol 19.25 420 str 39.5-41.5

U vol 18.5 390 str 39.5-41.5

Z vol 18 360 str 42-45

 

Bean oil

J vol 15.5 41 str 125-145

K vol 15.5 41 str 200-215

N vol 15.5 41.5 str 280-300

Q vol 15.75 41 str 320-340

U vol 16 41 str 355-380

V vol 16 40.5 str 380-400

Z vol 16 40.5 str 425-440

 

 

Crush quotes

 

OPEN              CLOSE

MCH        83-84.5            85-87

MAY        59-60                63-64

JLY           50.5-1               52-53

AUG        55-56                56-58

SEP          89-90                 87-90

OCT         87.5-88             87-88

DEC         79.5-80             79-79.5

JAN          73-74                73-74

 

Crush players

ABN bot 60 May at 63.75

Jefferies sold 30 KKN at 62.75

Jefferies sold 70 KNN at 33.75

Tenco sold 50 May at 62.25-62.5

Tenco sold 50 Oct at 87.25-87.5