News From The Floor

News

 

Weekly US export inspections came out today at 10 am CST

  • Wheat at 623,157 tons expecting 450,000 – 575,000 tons
  • Corn at 1,199,447 tons expecting 950,000 – 1.2 million tons
  • Beans at 239,955 tons expecting 75,000 – 150,000 tons

 

Donetsk Separatists Officially Declare Independence From Ukraine-Leader – DowJones

 

Donetsk Separatists Appeal to Russia to Make Region Part of Russia-Separatist Leader – DowJones

 

APK Inform estimated Russia’s 2014 grain crop at 93.0 MMT up .5% from a year ago including 52.0 MMT of wheat down .2% from a year ago .

 

APK Inform estimated Russia’s 2014 average grain yield at 2.16 TPH vs. 2.2 TPH a year ago including wheat yield at 2.18 TPH vs. 2.23 TPH a year ago

 

Malawi government estimated 2014 corn crop at 3.9 MMT up 8% from a year ago

 

Weekly US crop progress report comes out today at 3 pm CST. Expecting corn planting to be 50-60% complete, some analysts are saying as much as 70% complete. Bean planting expecting 15-20% complete. Winter wheat good to excellent condition expecting down 1% from a week ago. Reuters did  a poll of 13 analysts corn planting average estimate is 55% – range of estimates are 40-63%  . Soybean average estimate is 17% complete range of estimates are 12-25%.

 

Effective today CME raises margins on SN-SX and SK-SX bean spreads, CME to lower margins on most corn and wheat spreads. – See attachment for details.

 

China to auction 300,000 tons of beans from reserves tomorrow. Analysts expecting low volume on the auction due to soybeans being 4 years old and prices high relative to imported beans.

 

Reports – China may auction corn from reserves soon.

 

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

 

Estimated fund activity

  • Wheat sold 3,000
  • Corn sold 6,000
  • Beans sold 6,000
  • Meal sold 3,000
  • Bean oil sold 1,000

 

Open outcry option players – very quiet on the floor today.

  • Tenco bought 2,000 Nov bean 1160/1040 put spreads at 30 1/8 and bought 420 Nov futures at 1215 ¾
  • ICAP sold 1,000 July bean 1350/1380 put spreads at 3-3 ½
  • New Edge bought 1,000 July short dated bean 1200/1150 put spreads at 13 – 14 ½
  • Rosenthal sold 500 June beans 1520 calls at 4 ½
  • ADM bought 900 Dec corn 490 puts sold 900 Dec corn 400 puts and sold 900 Dec corn 540 calls at 1 ½
  • ICAP bought 500 July corn 480 puts sold 500 July corn 550 calls at 4 ½
  • ADM bought 500 July corn 545 calls at 3 ¼
  • ADM sold 600 Aug wheat 735-710 put spreads at 13 ¾
  • ICAP bought 500 July wheat 650 puts at 6 ¾
  • ICAP sold 500 July wheat 700/650 put spreads at 16 ½
  • ABN sold 100 July meal 440 puts at 2.60
  • RJO sold 200 July bean oil 41 puts at 68

 

 

Closing vols and ATM straddles

 

Corn

M vol 20 ½ 500 str 15 ¼ -15 ¾

N vol 23 500 str 30 ¾-31

Q vol 28 ½ 495 str 50 ¾-51 ¾

U vol 28 ½ 490 str 59-60

Z vol 26 490 str 74-75

H vol 24 ¼ 500 str 84 ½-85 ½

 

Beans

M vol 17 ½ 1460 str 36-38

N vol 18 1460 str 69 ½ -71 ½

Q vol 20 ¼ 1400 str 101-104

U vol 20 ¾ 1260 str 110-112

X vol 20 ½ 1220 str 133-136

 

Wheat

M vol 27 ¾ 710 str 27-29

N vol 28 ¼ 710 str 52-54

U vol 28 ½ 720 str 86-89

Z vol 26 740 str 110-113

H vol 25 750 str 130-134

 

KC wheat

M vol 27 ½ 820 str 32-34

N vol 28 ¼ 820 str 60-62

U vol 27 ¼ 830 str 93-97

Z vol 25 ¼ 840 str 120-124

H vol 24 ¼ 840 str 139-146

 

Minneapolis wheat

M vol 26 790 str 24-33

N vol 26 790 str 51-57

U vol 26 ¾ 800 str 86-92

Z vol 25 ¼ 810 str 115-121

H vol 24 820 str 130-139

 

Meal

M vol 22.5 480 str 16-17.50

N vol 22.5 480 str 29-30

Q vol 23 460 str 38.5-40

U vol 23 420 str 41-42.5

V vol 22 390 str 42.5-44.5

Z vol 22.5 390 str 50-52

 

Bean oil

M vol 18 41 str 95-115

N vol 18.25 41 str 185-205

Q vol 19 41 str 270-290

U vol 19.25 41 str 320-345

V vol 19.5 40.5 str 370-400

Z vol 19.25 40.5 str 435-460

 

Crush quotes

 

OPEN             CLOSE

MAY          35-45             40-50

JLY              36-37             37-38

AUG           45.5-47         46-47.5

SEP             94.5-99         98-99

OCT            85-86             86.5-87

DEC            78-78.5          79.6-80

JAN            72-73              73-74

MCH          71.5-72.5       72-73

MAY5        71-72              71-72

JLY5            70-71              70.5-71

 

 

Crush and oil share players

 

ADM bought 200 July crush at 37.75

 

ADM sold 200 Aug crush at 47

 

 

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