New From The Floor-An Afternoon Recap

News

 

Tunisia bought 159,000 tons of milling wheat , optional origin for July-Sept shipment

 

Jordan bought 50,000 tons of optional origin feed barley for Dec shipment

 

Algeria seeks 50,000 tons of optional origin durum wheat for October shipment

 

USDA approves vaccine to help fight deadly pig virus. Vaccine can be sold directly to farmers to help fight PEDv virus , which has killed an estimated 10% of US pigs.  –Reuters

 

Ukraine’s State Statistics Office said Ukraine’s June 1st grain stocks at 6.7 MMT up 9% from a year ago .

 

Indonesian Feedmills Association estimated 2014 Indonesia corn imports at 3.6+ MMT vs. 2013 imports of 2.95 MMT

 

Manitoba, Canada spring grain planting is 90% complete.

 

July beans closed below the 100 day moving average of 1414 ½ . July beans settled at 1398 ¼

 

July KC wheat closed above the 200 day moving average of 709. July KC wheat settled at 712 ½

 

Dec meal closed below the 50 day moving average of 391.30. Dec meal settled at 390.00

 

Estimated fund activity

  • Wheat traded even
  • Corn sold 6K
  • Beans sold 11K
  • Meal sold 4K
  • Bean oil  bought 3K

 

Open outcry option players

Corn:

FI sold 8000 short dated U 450-425 put spreads

FI bot 1500 Z 430-370 put spreads/sold 1500 Z 470 calls

JPM sold 1400 Z 470 calls

Macquarie sold 1000 Z 570 calls

ICAP sold 950 Z 500 calls

FCS bot 500 Z 420 puts/sold 1000 Z 380 puts/sold 500 Z 550 calls

RJO bot 1000 Q 450-430 put spreads

 

Beans:
FI sold 3000 N 1400 puts

Tenco bot 1000 X 1100 puts

GFI bot 800 Q 1400-1500 call spreads

GFI sold 750 N 1480 calls

GFI sold 500 Q 1400 calls

RJO bot 500 Q 1400-1500 call spreads

Man bot 500 X 1240 calls

ABN bot 500 N 1380 puts

ABN bot 500 Q 1350-1320 put spreads

ABN bot 600 Q 1380 calls

Rosenthal bot 700 U 1300 puts/bot 700 U 1200 puts/sold 700 Q 1400 puts

Bunge bot 450 X 1200 calls

Newedge sold 400 N 1400 puts

Mizuho bot 700 N/X 200 cso puts

 

Wheat:

ICAP sold 1500 U 550 puts

 

Oil:

JPM bot 1000 Q 40 calls

JPM bot 1000 U 39 puts

RJO bot 500 Z 40 calls

 

Meal:

Newedge bot 400 N 470 puts/sold 400 Z 430 calls-340 put strangles

 

Crush quotes

 

OPEN           CLOSE

JLY             31.5-34        28-29.5

AUG         42.5-45         40.5-41.5

SEP           94-977           96-97

OCT           86.5-88         86-88

DEC           83-83.5         84-85

JAN           74-75.5         75-77

MCH         71.5-73.5      73-74

MAY          70-71.5         71-72.5

JLY5           66-69.5          69-70

AUG5        68-76.75       69-76.5

 

Crush and oil share players

  • Jefferies sold 150 NQQ crush at -9
  • Jefferies sold 70 NUU crush at -60.5
  • Jefferies sold 70 NVV at -105.5
  • Rand sold 100 Dec oil / meal at 33.8%

 

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