News From The Floor-An Afternoon Recap

News

 

Brazil Trade Ministry – April exports

  • Beans exported 8.25 MMT in April vs. 6.23 MMT in March and vs. 7.15 MMT in April 2013
  • Meal exported 1.33 MMT in April vs. 727,000 tons in March and vs. 1.26 MMT in April 2013
  • Bean oil exported 115,900 tons in April vs. 117,700 tons in March and vs. 110,200 tons in April 2013
  • Corn exported 562,400 tons in April vs. 577,700 tons in March and vs. 606,100 tons in April 2013

 

Weekly Canada canola crush at 134,263 tons down .4% from a week ago

 

Weekly Canada bean crush at 23,723 tons down 31% from a week ago

 

CME raised ethanol margins by 39%

 

Weekly COT report comes out this afternoon at 230 pm CST

 

Stats Canada comes out on Monday at 730 am CST with their March 31st stocks report. Based on a Reuters survey expecting

  • All wheat stocks average estimate 21.5 MMT , range of estimates are 20.0-22.2 MMT vs. 14.471 MMT in 2013.
  • Durum wheat stocks average estimate 4.2 MMT, range of estimates are 3.8-4.6 MMT vs. 2.956 MMT in 2013
  • Canola stocks average estimate 9.0 MMT (record high for this time of year), range of estimates are 8.2-9.6 MMT vs. 4.553 MMT in 2013
  • Oat stocks average estimate 2.1 MMT, range of estimates are 1.9-2.2 MMT vs. 1.429 MMT in 2013
  • Barley average estimate 4.7 MMT, range of estimates are 4.5-5.0 MMT vs. 3.044 MMT in 2013.

 

Weekly US export inspections report comes out on Monday at 10 am CST

 

Weekly US crop progress report comes out on Monday at 3 pm CST. Expecting corn planting to be 35-40% complete . Expecting bean planting to be 10-12% complete

 

Estimated fund activity

  • Wheat bought 3K
  • Corn sold 7K
  • Beans bought 4K
  • Meal bought 1,500
  • Bean oil bought 2K

 

Open outcry option players

  • FI sold 2,000 July bean 1400 puts at 20 ¼ – 20 3/8 sold 560 July futures 1460-1462
  • New Edge bought 1,100 July short dated 1200/1150 put spreads at 14
  • New Edge bought 1,300 July short dated 1180/1130 put spreads at 9 ½-9 ¾
  • Jefferies sold 1,000 July corn 490 puts at 13 ¼
  • Jefferies bought 1,000 Dec corn 600 calls at 11 ¼
  • Rosenthal bought 1,000 Dec corn 490 puts at 36
  • ICap sold 1,000 CN/CZ CSO even puts at 3 ¼
  • FI bought 1,000 June corn 520 calls at 4 ¾
  • Tenco bought 1,000 June wheat 680/630 put spreads at 4 3/8 -4 ½
  • Tenco bought 1,200 July wheat 650/600 put spreads at 5
  • FI bought 1,000 July wheat 720 calls at 27 ½
  • ABN sold 500 July KC wheat 800 puts at 26-26 ½
  • ABN sold 500 July KC wheat 800 puts at 20 ½ tied to futures at 821
  • Rosenthal bought 1,300 Dec meal 300/340 put spreads at 5.75
  • JP Morgan bought 1,000 Dec meal 340 puts sold 2,000 Dec meal 300 puts at 3.75 debit tied to futures at 387.00
  • JP Morgan bought 1,000 July bean oil 42 calls at 95
  • JP Morgan bought 1,000 July bean oil 43 calls at 65-67
  • JP Morgan bought 2,500 July bean oil 43.50 calls at 58-60

 

Closing vols and ATM straddles

 

Corn

M vol 24 ¾ 500 str 22 ½ -23 ½

N vol 26 ¼ 500 str 37 ½ -38 ½

Q vol 29 ¼ 500 str 55-56 ½

U vol 29 ½ 500 str 65-66

Z vol 27 490 str 78-79

H vol 25 500 str 88-90

 

Beans

M vol 19 ½ 1470 str 55-57

N vol 20 ¼ 1470 str 87-89

Q vol 21 ½ 1400 str 114-117

U vol 21 ½ 1280 str 120-123

X vol 20 ¼ 1220 str 136-136

 

Wheat

M vol 27 ¾ 720 str 36-38

N vol 27 720 str 56-59

U vol 28 ½ 720 str 88-91

Z vol 26 ¾ 740 str 115-119

H vol 25 ¾ 750 str 135-137

 

KC wheat

M vol 25 820 str 39-41

N vol 26 ½ 820 str 63-66

U vol 26 ½ 820 str 95-100

Z vol 25 830 str 120-125

H vol 24 ½ 830 str 140-150

 

Minneapolis wheat

M vol 25 780 str 37-43

N vol 25 780 str 54-60

U vol 25 ¾ 790 str 85-91

Z vol 25 800 str 112-118

 

Meal

M vol 23 480 str 21-22.50

N vol 23.5 480 str 33-34.50

Q vol 23.5 450 str 40.5-42.0

U vol 23.25 420 str 43-44.50

Z vol 22 390 str 50-52

 

Bean oil

M vol 21 41.5 str 165-175

N vol 21 41.5 str 245-265

Q vol 20.5 41.5 str 315-335

U vol 20.5 41.5 360-385

Z vol 19.5 41 str 455-480

 

Crush quotes

 

 

OPEN               CLOSE

MAY         46-51              50.5-53

JLY             41.5-42          42-43

AUG          44-45.5          46-47

SEP            99-1.00           1.00-1.01

OCT           84-85              85-86

DEC           79-79.5           80-80.5

JAN           73-74               73.5-74

MCH         71.5-72.5        72.5-73

MAY5       71-72               71-71.5

JLY5           70-71               70-70.5

 

Crush players

 

ABN bought 70 Aug at 45.5-46

ADM sold 130 Aug at 45.5-46

FC Stone sold 200 July at 42-42.25

Rand bought 80 Aug at 46.75

Tenco sold 100 July at 42-44

 

Have a nice weekend.

 

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