From The Floor-An Afternoon Recap

News (from Reuters and DowJones)

 

Weekly US export inspection report came out today at 10 am CST

  • Wheat at 492,577 tons expecting 450-550K
  • Corn at 1.328 M tons expecting 950K – 1.15 M tons
  • Beans at 506,039 tons expecting 525-675K

 

AgRural estimated Brazilian ‘13/14 bean crop at 85.6 MMT vs. previous estimate of 85.9 MMT

 

AgRural said 71% of the Brazilian bean crop has been harvested

 

Taiwan Sugar Corp seeks 20K US corn and 15K US beans for May/June shipment

 

Israel seeks 85,000 corn and 20,000 feed wheat for May June shipment from US, SA, Black Sea, and or Europe.

 

IKAR said Russia exported 20.8 MMT of grain between July 1st – March 25th

 

Russia’s Ag Min said as of March 28th Russia has planted 712,200 hectares of spring grains (1.3% of total area) vs. 471,600 hectares a year ago

 

Ukraine Ag Min said Ukraine has started planting 2014 corn crop. As of today Ukraine farmers have planted 7,000 hectares of corn

 

Ukraine Ag Min estimated Ukraine 2014 corn area at 5.0 MH vs. 2013 area of 4.8 MH

 

Estimated fund activity

  • Corn bought 20,000
  • Wheat bought 1,000
  • Beans bought 11,000
  • Meal bought 4,000
  • Bean oil sold 2,000

 

Weekly US crop progress report by state (from NASS website) . Weekly USDA US crop progress reports begin again next Monday.

  • Texas corn planting is 28% complete vs. 20% a week ago vs. 53% a year ago and vs. 48% 5 year average
  • Texas wheat crop 11% good to excellent down 2% from a week ago
  • Texas wheat crop 59% poor to very poor up 7% from a week ago
  • Oklahoma wheat crop 17% good to excellent
  • Oklahoma wheat crop 44% poor to very poor
  • Oklahoma wheat crop 17% good to excellent down 1% from a week ago

 

Today was the second day of the Rogers roll. Rogers roll ends tomorrow

 

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

 

Final March HSBC China mfg PMI comes out tonight/tomorrow

 

Eurozone unemployment comes out tomorrow

 

May bean oil settled at 4042 , below the 50 day moving average of 4048 and below the 100 day moving average of 4046 (barchart.com)

 

Open outcry option players (from CBOT floor)

 

Corn:

ADM sold 2000 week 1 520 calls

ADM sold 1000 week 1 510 calls

ADM bot 1200 N 550-580 call spreads

FI sold 2000 K 500 calls/bot 800 CK

FI sold 1000 K 470 straddles

ABN sold 1000 N 440 puts/sold 220 CN

FI bot 800 N week 1 500 straddles/sold 800 week 1 490 straddles

FI bot 500 week 1 510 calls

ICAP bot 1000 K 500 calls/sold 1000 short dated K 500 calls

Macquarie bot 500 N/Z -10 cents cso puts

Newedge bot 800 N 500 calls/sold 800 N 460 puts/bot 616 CN

JPM bot 250 K 460 puts/sold 750 K 410 puts

 

Beans:

ADM sold 2000 X 1200-1160 put spreads

ADM sold 2000 week 1 1450 calls

ABN sold 2000 K 1380 puts

ABN bot 800 N 1340 puts

ABN sold 800 K 1300 puts

ABN bot 500 N 1430 calls/sold 250 SN

ABN bot 600 X 1100 puts

JPM bot 1500 K 1320 puts/bot 75 SK

JPM sold 1000 N 1560 calls

FI bot 1000 K 1370 puts/sold 500 K 1400 puts

ICAP sold 400 N 1410 straddles

RJO bot 400 X 1100 puts

 

Wheat:

Tenco sold 600 K 670 straddles

Macquarie bot 500 K 690-660 put spreads

 

Meal:

Rand bot 500 N 470 calls/sold 250 N 430 calls

ABN sold 300 K 440 puts

 

Oil:

Newedge bot 500 U 40-38 put spreads/sold 500 U 43 calls

Newedge sold 300 K 41-40 put spreads

Newedge bot 250 K 43 calls

Newedge sold 240 N 43-40 put spreads

RJO bot 300 K 41 calls

FCS sold 200 N 43 ½-45 ½ call spreads

 

Data sources: DowJones , Bloomberg, Reuters , DTN news, barchart.com and CME Group, NYSE