News From The Floor-An Afternoon Recap

News

 

Egypt bought 175,000 tons of wheat for April shipment. 60,000 tons from Russia , 60,000 tons from Romania , and 55,000 tons from the US

 

Algeria seeks 50,000 durum wheat optional origin for April shipment
Taiwan Sugar Corp seeking 20,000 US corn and 15,000 US beans for May shipment

 

Hearing Cordonnier estimated ‘13/14 Brazilian bean crop at 86.0 MMT vs. his previous estimate of 87.0 MMT

 

Hearing Cordonnier estimated ‘13/14 Brazilian corn crop at 68.5 MMT unchanged from his previous estimate

 

Hearing Cordonnier estimated ‘13/14 Argentine bean crop at 54.0 MMT unchanged from his previous estimate

 

Hearing Cordonnier estimated ’13/14 Argentine corn crop at 23.0 MMT unchanged from his previous estimate

 

Ukraine Ag Min said Ukraine has planted 24% of their spring crop on 693,000 hectares

 

UK customs data said UK imported 122,378 tons of wheat in January

 

UK customs data said UK imported 1.47 MMT of wheat so far this season vs. 1.61 MMT a year ago

 

UK customs data said UK imported 311,714 tons of corn in January

 

UK customs data said UK has imported 1.44 MMT of corn so far this season vs. 933,006 tons a year ago

 

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

 

China to auction 878,300 tons of wheat tomorrow.

 

Weekly DOE #s come out tomorrow at 930 am CST . Expecting

  • Crude a build of 2.625 MB
  • Gas a draw of 1.525 MB
  • Distillates a draw of 850,000

 

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

 

FOMC 2 day policy meeting ends tomorrow. Feds will make an announcement at 1 pm CST tomorrow.

 

Estimated fund activity

  • Wheat bought 5,000
  • Corn bought 6,000
  • Beans bought 9,000
  • Meal bought 3,000
  • Bean oil bought 2,000

 

Open outcry option players

  • ABN bought 500 May  bean 1500 calls sold 500 May bean 1300 puts at 4 ¾ -6 debit
  • ADM bought 500 April bean 1360 puts at 1
  • GFI bought 500 July bean 1400 calls at 56-57
  • ADM bought 1,000 July corn 450 puts and sold 1,000 July corn 580 calls at 5 debit
  • ADM bought 2,500 May corn 410 puts at 1
  • JP Morgan sold 2,000 July corn 480 calls at 26 ½ and bought 1,000 July futures at 489
  • FI sold 500 July corn 460 puts at 14 1/8 and sold 155 July futures at 487 ¾
  • New Edge bought 900 June wheat 620 puts at 9 ½-10
  • ADM sold 500 July wheat 690/720 call spread at 11
  • JP Morgan bought 1,600 Dec meal 460 calls at 4.25 and sold 160 Dec futures at 367.50
  • ADM bought 300 July bean oil 43 calls at 135
  • Rosenthal bought 300 May bean oil 42 calls at 115
  • Bunge sold 1,000 May bean oil 42.50 calls at 90

 

Closing vols and ATM straddles

 

Corn

J vol 27 ½ 485 str 9 ½-10 ½

K vol 28 ¾ 485 str 35 ½ -36 ¼

M vol 27 490 str 44 ½-45 ½

N vol 27 ¼ 490 str 53 ½-54 ½

U vol 29 490 str 73 ½-74 ½

Z vol 25 ¾ 490 str 82 ½-83 ½

 

Beans

K vol 21 ¼ 1410 str 77-79

N vol 21 ½ 1380 str 120-122

X vol 18 ½ 1180 str 133-135

F vol 17 1180 str 140-144

 

Wheat

J vol 45 690 str 22-26

K vol 34 690 str 60-62

N vol 31 690 str 86-90

U vol 30 690 str 107-110

Z vol 28 710 str 128-135

 

KC wheat

J vol 34 ½ 760 str 20-23

K vol 29 ½ 760 str 57-60

N vol 28 ½ 760 str 83-88

U vol 27 760 str 105-109

Z vol 25 ½ 770 str 126-131

 

Minneapolis wheat

J vol 36 740 str 20-26

K vol 31 740 str 58-64

N vol 31 730 str 90-96

U vol 30 730 str 104-112

Z vol 28 740 str 130-137

 

Meal

K vol 25.5 450 str 29.5-31.5

N vol 22.75 440 str 41-43

Q vol 21.5 420 str 43.5-45.5

U vol 20.5 400 str 43.5-45.5

Z vol 19.25 370 str 46.5-48.5

 

Bean oil

K vol 20 42 str 210-225

N vol 19.5 42 str 325-345

Q 19 42 str 360-390

U vol 18.25 42 str 380-410

Z vol 17.75 41 str 460-490