From The Floor-An Afternoon Recap

News

 

Pakistan bought 90,000 tons of Black Sea origin wheat for August shipment

 

Jordan seeks 100,000 optional origin milling wheat for Dec-Jan shipment

 

Jordan seeks 100,000 optional origin feed barley for Dec-Jan shipment

 

Argentina Ag Min estimated ‘13/14 Argentine corn crop at 32.1 MMT vs. previous estimate of 31.1 MMT

 

Argentine Ag Min estimated ‘13/14 Argentine bean crop at 54.0 MMT unchanged from previous estimate

 

Argentine Ag Min estimated ‘14/15 wheat area at 4.5 MH unchanged from previous estimate and vs. 3.65 MH in ‘13/14

 

Argentine Ag Min said Argentina has harvested 93% of their ‘13/14 bean crop

 

Argentine Ag Min said Argentina has harvested 49% of their ‘13/14 corn crop

 

Russia’s statistics agency said Russia’s June 1st grain stocks were at 11.4 MMT up 4.3% from a year ago

 

Saskatchewan grain planting is 95% complete vs. five year average of 90%

 

India weather office data said for the week ending June 18th India monsoon rains were 45% below average vs. 48% below average a week ago

 

China to end this year’s cotton reserve auctions on August 31st

 

Estimated fund activity

  • Wheat bought 3K
  • Corn bought 9K
  • Beans bought 5K
  • Meal bought 3K
  • Bean oil bought 3K

 

July beans closed above the 100 day moving average of 1417 ½. July beans settled at 1420 ¾

 

Nov beans closed below the 50 day moving average of 1228 ¼. Nov beans settled at 1227 ¼

 

July KC wheat closed above the 100 day moving average of 728 ¾. July KC wheat settled at 729 ¼.

 

Sept KC wheat closed below the 100 day moving average of 734 ½. Sept KC wheat settled at 726 ¾

 

July Minneapolis wheat closed below the 100 day moving average of 708 ½ and closed below the 200 day moving average of 709 ½ . July Minneapolis wheat settled at 703

 

Dec bean oil closed below the 100 day moving average of 4053. Dec bean oil settled at 4049

 

Dec meal closed above the 50 day moving average of 391.70. Dec meal settled at 395.20

 

July options expire tomorrow at 115 pm CST.

 

Brazilian markets were closed today for holiday. Trading resumes tomorrow.

 

Argentine markets will be closed tomorrow for holiday.

 

Surveyors SGS and Intertek Agri Services come out tomorrow morning with their Malaysian June 1-20th palm oil export estimates.

 

Weekly COT report comes out tomorrow at 230 pm CST

 

Open outcry option players

 

Corn:

FI sold 5,000 Sept short dated corn 400 puts at 4 ¼

RJO bought 1,100 Sept corn 430 put sold 1,100 Aug corn 440 put at 5/8 – 7/8

ABN bought 2,000 Sept corn 500 calls at 5 ¼ -5 3/8

RJO bought 1,000 Dec corn 500 calls and sold 1,000 Dec corn 400 puts at 2 1/8

ICAP bought 1,500 March corn 460 calls at 34 ½ and sold 750 March futures at 456

Jefferies bought 1,000 July corn 490 puts sold 1,000 Sept corn 450 puts at 16 3/8

Jefferies bought 1,000  July corn 480 puts and sold 1,000 Sept corn 450 puts at 6 ¾ .

Rand sold 1,000 Sept short dated corn 520 calls at  3 ¾.

 

Beans:

JP Morgan Bot 1500 Aug 1550 Calls 1.75

Obrien Sold 250 SDFN 1210 Puts/ Sold 250 SDFN 1220 Calls 5.75-6 credit

Obrien Sold 250 SDFU 1100 Puts/ Sold 250 SDFU 1270 Calls 28.5 credit/ Sold 45 Nov futures 1215

Obrien Bot 1000 SDFN 1200 Puts .625-1

ICAP Sold 300 Nov 1100 Puts 18.25-18.375/ Sold 54 Nov futures 1212

Tenco Bot 1500 SDFU 1180 Puts 24.25-28.25

FI Sold 2600 SDFU 1160/1100 Puts spds 12-12.75 credit

Obrien Sold 250 Sold 250 SDFU 1180 Puts 24

Obrien Bot 500 Nov 1260 Calls 42.75/ Sold 210 Nov futures 1223

Bunge bot 300 SDFN 1240 Calls 1.25

Tenco Bot 200 SDFU 1170 Puts 21.25

Bunge Bot 200 SDFU 1320 Calls 12.5

Bunge Bot 500 Jul 1400 Puts 1

 

Wheat:

Jefferies bot 1000 Aug 630 calls at 9 – 9 1/8

Jefferies bot 500 Sept 520 puts/sold 500 Aug 595 puts

 

KC Wheat

Knight sold 300 July 740/750 call spreads at 2 5/8 tied to futures at 737

 

Meal

FC Stone sold 350 July meal 390-440 call spreads at 44.75

 

Bean oil

Bunge bought 400 Aug bean oil 40 calls at 110-114

 

Crush quotes

OPEN               CLOSE

JLY              29-31                18-20

AUG           43-45.5            39-41

SEP             94-97.5            92.5-96.5

OCT            90-91                90-92

DEC            87-87.5             87.5-88

JAN            77-78                 77-77.5

MCH          73.5-74.5         74-74.5

MAY          72-73                 72.5-73

JLY5            69.5-71             69.5-70

AUG5        70-78                 70-78

 

Crush and oil share players

  • Tenco sold 50 Jan crush at 76.5
  • FI bought 350 July crush at 21
  • No oil share players in the pit today.

 

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