From The Floor-An Afternoon Recap

News

 

Tonight/Tomorrow July beans, corn, wheat, KC wheat, Minneapolis wheat, meal, and bean oil will be top step (spot month)

 

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

 

China’s first quarter GDP comes out tonight expecting +7.3% vs. previous quarter GDP of +7.7%

 

Weekly DOE #s come out tomorrow at 930 am CST . Expecting

  • Crude a build of 1.75 MB
  • Gas a draw of 1.75 MB
  • Distillates unchanged

 

Weekly US ethanol plant production report comes out tomorrow at 930 am CST

 

Estimated fund activity

  • Wheat bought 6K
  • Corn bought 2K
  • Beans bought 7K
  • Meal bought 3K
  • Bean oil  bought 3K

 

Open outcry option players

 

Corn:

RJO bot 2500 K 510-520 call spreads

Tenco bot 1000 K 500 calls

Macquarie sold 1000 M 530 calls/480 put strangles

RJO bot 700 N 505-545 call spreads/sold 700 N 440 puts

RJO sold 900 K 500 straddles

FCS sold 500 K 510 calls/490 put strangles

 

Beans:

GFI bot 2000 X 1160-1100 put spreads

FI bot 1000 X 1160-1100 put spreads

ADM bot 1000 M 1500-1550 call spreads

ADM bot 1000 K 1430 puts

ADM bot 500 Q 1400 calls

ADM bot 400 K 1440 puts

ADM bot 400 K 1390 puts

Rosenthal sold 800 M 1460 straddles

RJO sold 500 short dated K 1230 calls

 

Wheat:

GFI sold 2000 K 675 puts

Macquarie bot 900 N 670 puts

Rosenthal sold 700 N 750 calls

ABN sold 700 K 740 calls

Tenco bot 500 M 650 calls

 

Oil:

JPM bot 1500 N 44-46 call spreads

JPM bot 500 N 42 puts

JPM bot 300 K 41 puts

Rosenthal bot 800 M 43 calls/sold 400 N 42 calls

Bunge sold 500 K 43 ½ calls

Newedge bot 200 N 38 puts

RJO bot 200 V 44 puts/sold 200 V 44 ½ calls

 

Meal:

FCS sold 400 K 465 calls

FCS bot 300 K 450 calls

Bunge sold 200 K 480 puts

 

I apologize for the abbreviated report today. I have to attend a wake.

 

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