From The Floor-An Afternoon Recap

News

 

Hearing Sinograin (China) bought 157,000 tons of Brazilian beans for April shipment

 

Hearing Cordonnier estimated 2014 US corn yield at 164.0 BPA vs. previous estimate of 162.0 BPA, in his weekly report .

 

Hearing Cordonnier estimated 2014 US beans yield at 44.5 BPA unchanged from his previous estimate, in his weekly report.

 

Jordan bought 50,000 tons of optional origin feed barley

 

UkrAgroConsult said as of June 3 Russia has planted 90% of their spring grain crops on 11.7 MH vs. 10.0 MH a year ago

 

Analysts talking about the excellent crop weather in the US

 

Brazilian meteorologist  said below freezing temps were seen this morning in southern Brazil and are expected for tomorrow morning in southern Brazil, posting a slight risk to the Brazilian corn crop.

 

Australia’s Weather Bureau says they see at least a 70% chance of El Nino this year

 

Today was the first day of the Deutsche Bank roll. DB roll ends on Monday June 9th. They are rolling long July 2014 Chicago and KC wheat forward. On the close 1,143 NN Chicago wheat spreads traded at 64 ½ -66 on globex and 250 NN KC wheat spreads traded at 13 ¾ – 15 ¼ on globex.

 

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

 

China will hold its weekly wheat auction tonight/tomorrow

 

US Census Bureau releases final 2013 and April 2014 trade data tomorrow at 730 am CST.

 

Weekly DOE energy inventory report comes out tomorrow at 930 am CST . Expecting

  • Crude a draw of 1.0 MB
  • Gas a build of 200,000
  • Distillates a build of 800,000

 

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

 

Informa comes out on Thursday at 1030 am CST with their US wheat crop estimates and world production estimates.

 

Estimated fund activity

  • Wheat sold 4K
  • Corn sold 8K
  • Beans sold 7K
  • Meal sold 2K
  • Bean oil sold 3K

 

Open outcry option players

 

Corn:

ABN bot 1000 short dated N 440 puts/bot 220 CZ

JPM bot 1200 N 500 straddles

ICAP bot 500 N 475 calls

RJO bot 300 Z 500 calls/sold 500 Z 550 calls

 

Beans:

Rand bot 8000 X 1180 puts/sold 4000 X 1260 puts/bot 640 SX

JPM sold 1000 N 1500-1460 put spreads/sold 270 SN

JPM bot 1000 Q 1480-1560 call spreads

JPM sold 1000 N 1500 puts/sold 653 SN

JPM bot 800 N 1600 calls

JPM sold 500 N 1480 calls

FI bot 1500 short dated U 1160-1100 put spreads

FI bot 700 short dated U 1170 puts

Rosenthal bot 1000 N 1600 calls

FI sold 500 short dated U 1260 calls

Man sold 500 N 1520 calls

Man bot 500 N 1460 puts

ADM sold 500 Q 1460 calls

ADM bot 500 N 1490-1520 call spreads

ADM bot 500 N 1480-1450 put spreads

Tenco bot 400 N 1500-1550 call spreads

 

Wheat:

Tenco sold 200 N 600 puts

JPM sold 1000 N 640 calls/600 put strangles

JPM sold 400 N 670-620 put spreads

New Edge bot 600 N 640 puts/sold 600 Z 690 calls

 

KC Wheat:

Rosenthal bot 500 U 950 calls

 

Meal:

RJO bot 850 N’15 400 calls

ICAP sold 600 N’15 400 calls

 

Oil:

Bache bot 400 U 38 ½ puts

Bache sold 400 U 40-38 ½ put spreads

New Edge bot 400 U 44 ½ calls

New Edge bot 300 U 44 calls

New Edge sold 300 Z 40 ½-38 put spreads

New Edge sold 240 N 39 ½-37 ½ put spreads

New Edge sold 240 Q 39 ½-37 ½ put spreads

New Edge bot 200 N 38 calls

FCS bot 300 Q 38-36 ½ put spreads/sold 300 Q 40 ½-43 ½ call spreads

RJO bot 250 Z 39-42 call spreads/sold 250 Z 36 ½ puts

RJO bot 200 Q 43 calls

FI bot 250 Q 43 calls

 

Crush quotes

 

OPEN              CLOSE

JLY         34-35              39.5-40

AUG      42-43              43.5-44.5

SEP        97.5-1.00       98-99

OCT       85-86.5           84.5-85,5

DEC       80.5-81.5        72.5-74

JAN       73-74.5            71-72

MCH     70.5-72.5         69.5-70.5

MAY      69-71                69.5-70.5

JLY5       66.5-70             66.5-67.5

AUG5    69-76.75          69.5-76.5

 

Crush and oil share players

  • ADM sold 10 Aug crush at 44
  • New Edge sold 20 Dec crush at 80.5
  • No oil share pit players today

 

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