News From The Floor-An After Recap

News

 

AKIPRE said Kazakhstan plans to export 1.2 MMT of wheat to Iran in 2014

 

Corn cash market firm

 

Cooler wetter weather in the western corn belt delaying planting next couple of days

 

CEC comes out tomorrow with their South African crop estimates

 

Stats Canada comes out tomorrow at 730 am CST with their planting intentions report. Based on a Reuters survey expecting

  • All wheat average estimate 24.4 MA vs. 26.26 MA in 2013
  • Durum wheat average estimate 4.7 MA vs. 4.965 MA in 2013
  • Canola average estimate 21.1 MA vs. 19.936 MA in 2013
  • Oats average estimate 3.2 MA vs. 3.17 MA in 2013
  • Barley average estimate 6.7 MA  vs. 7.08 MA in 2013
  • Flax average estimate 1.3 MA vs. 1.035 MA in 2013
  • Corn average estimate 3.4 MA vs. 3.689 MA in 2013
  • Beans average estimate 4.8 MA vs. 4.519 MA in 2013

 

Weekly US jobless claims report comes out tomorrow at 730 am CST

 

Weekly US export sales report comes out tomorrow at 730 am CST. Based on a Reuters survey expecting

  • Wheat – old crop 200,000 – 400,000 ; new crop 250,000 – 500,000
  • Corn – old crop 500,000 – 800,000 ; new crop 150,000 – 250,000
  • Beans – old crop – 200,000 – + 100,000 ; new crop 350,000-550,000
  • Meal – old crop 25,000 -125,000 ; new crop 50,000 – 100,000
  • Bean oil – old crop 0-25,000 ; new crop 0-10,0000

 

Weekly EIA Nat Gas storage report comes out tomorrow at 930 am CST expecting +40 BCF

 

Estimated fund activity

  • Wheat bought 2K
  • Corn bought 8K
  • Beans sold 3K
  • Meal sold 1K
  • Bean oil sold 1,500

 

Open outcry option players

Corn:

ADM bot 2000 N 500 puts

New Edge bot 1000 Z 450 puts/sold 2000 Z 400 puts

MLP bot 1700 short dated U 430-410 put spreads

JPM bot 1000 N 530 calls

ABN bot 1000 M 500 puts/sold 1000 N 500 calls

ABN bot 1000 U 470-420 put spreads

JPM bot 900 N 520 calls/sold 378 CN

RJO sold 500 short dated K 500 calls/495 put strangles

 

Beans:

ABN Bot 2000 Nov 1140/1100 Put spds 11.875-12 db

ADM Bot 300 N/X CSO 200 Puts/ Sold 300 N/X CSO 300 Calls 1.5-2 credit

Fimat Bot 850 Jul 1400/1300 Put spds / Sold 850 Aug 1300/1200 Put spds 1 db

ADM Sold 200 May 1480 Calls 9.5-10

Macquarie Sold 500 June 1500 calls 25-25.25/ Bot 190 Jul futures 1469

Bunge Bot 1000 Aug 1460 Calls/ Sold 1000 Jul 1560 Calls 19-21.5 db

Obrien Bot 500 Nov 1220/1260 Call spds 16.75 db

GFI Bot 250 Jul 1620 Calls 11.5

ADM Sold 200 May 1480 Puts 8.25-9.25

Bunge Bot 200 SDFK 1240 Calls 1

Fimat Bot 450 May 1450 Puts/ Sold 450 May 1440 Puts/ Sold 450 May 1470 Puts 7.5 credit

Macquarie Sold 200 Jul 1480 Straddles 102

Fimat Sold 250 Jul 1470 Calls/ Bot 375 Jul 1520 Calls 7.5-8.5 credit

Rosenthal Bot 400 may 1490 Calls 5-6.75

FI Sold 500 N/X CSO 250/300 Call spds 17 credit

Rosenthal Bot 500 June 1500 Calls 24

Bache Bot 200 Mch 1160 Puts./ Sold 400 Mch 1080 Puts 1 db

FI Sold 400 N/X CSO 200/160 Puts spds 10 credit

ADM Bot 200 Jul 1440 Puts 38.25

Macquarie Sold 250 Aug 1400 Straddles 126

Rosenthal Bot 300 May 1500 Calls 2

Obrien Bot 250 Jul 1440 Puts/ Sold 500 Jul 1380 Puts/ Bot 250 Jul 1320 Puts 10 db

ABN Bot 400 N/X CSO 200 Puts 20-20.5

 

Wheat:

GSA bot 600 M 600 puts/sold 300 M 650 puts

 

Oil:

JP Morgan sold 2,000 M 4250 puts

ADM bot 1000 N 41 puts

RJO sold 500 N 41 puts

Bache bot 500 Q 42 puts/sold 500 N 41 puts

RJO bot 300 N 42 puts/sold 300 N 45 calls

Rosenthal bot 200 N 41 puts/sold 200 Q 42 puts

 

Meal:

Tenco sold 200 Z 400 calls

ADM bot 200 K 485 calls

New Edge bot 200 N 470/490 call spreads , sold 200 N 440 puts

 

Closing vols and ATM straddles

 

Corn

K vol 21 ¼ 505 str 7 ½-8 ½

M vol 23 ¼ 510 str 27-28

N vol 26 ¼ 510 str 42 ½ -43 ½

U vol 30 510 str 70-71

Z vol 27 ½ 500 str 83 ¾-84 ¾

H vol 25 ¾ 510 str 94-96

 

Beans

K vol 20 ¾ 1470 str 20 ½ -21 ½

M vol 21 ¾ 1470 str 73-75

N vol 21 ½ 1470 str 100-101 ½

Q vol 22 ¼ 1400 str 125 ½ -127

U vol 22 1280 str 128-132

X vol 20 ¼ 1220 str 139-140

F vol 18 ¾ 1240 str 151-154

 

Wheat

K vol 24 ½ 675 str 11-13

M vol 28 ½ 680 str 44-46

N vol 29 ¼ 680 str 63-65

U vol 29 690 str 92-93

Z vol 27 ¾ 710 str 118-119

 

KC wheat

K vol 24 750 str 12-15

M vol 26 ¾ 750 str 45-48

N vol 27 ¼ 750 str 63-67

U vol 26 ½ 760 str 92-94

Z vol 25 ½ 770 str 116-121

 

Minneapolis wheat

K vol 22 720 str 10-15

M vol 25 730 str 40-48

N vol 25 730 str 54-60

U vol 26 730 str 82-90

Z vol 25 ¼ 740 str 107-115

H vol 23 750 str 118-128

 

Meal

K vol 25 480 str 7-9

M vol 24.5 470 str 26.5-28.5

N vol 24 470 str 36.5-38.0

Q vol 23 440 str 41.5-43.5

U vol 22.25 410 str 43.5-45.5

Z vol 20.25 380 str 49-51

 

Bean oil

K vol 20.5 4250 str 45-60

M vol 20.5 43 str 190-205

N vol 20.5 43 str 270-295

Q vol 20.5 42.5 str 340-350

U vol 20.25 42.5 str 385-400

Z vol 19.5 42 str 485-500

 

Crush quotes

OPEN             CLOSE

MAY          48-49             50-51

JLY             36.5-37          37.5-38

AUG          44-46.5          44-45.5

SEP            90-98              93.5-96.5

OCT           84-85.5           82-84

DEC           78.5-79           77-78

JAN           72-73               71.5-72.5

MCH         71.5-72.5        71.5-72.5

MAY5       70.5-71            70.5-71

JLY5           69-70               69-70

 

Crush player

ABN sold 110 Jan crush at 72-72 ½

 

OilShare player

Rosenthal bought July 160 oil/ 80 meal at 31.18-31.23%

 

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