News From The Floor-An Afternoon Recap

News

 

June options expire tomorrow on the close

 

Trade talk of a Brazilian bean vessel headed to EU switched to the US , talk more may follow.

 

Report on Reuters – The Argentine government has cut biodiesel export taxes almost in half in an attempt to prop up a sector hit by European Union anti-dumping measures , said an industry executive. Sales taxes are being reduced to 11% from 21% – Reuters.

 

Argentina Ag Min estimated ‘13/14 corn crop at 31.1 MMT vs. previous estimate of 29.8 MMT

 

Argentina Ag Min estimated ‘14/15 wheat planting area at 4.5 MH

 

Algeria bought 150,000 tons of feed barley optional origin (possibly French) for July- August shipment

 

Jordan seeks 100,000 tons of hard milling wheat optional origin for Oct – Nov shipment

 

Tunisia seeks 50,000 tons of optional origin milling wheat for June –July shipment

 

Syria tenders to sell 200,00 tons of grain to Iraq again.

 

Soybean Processors Association of India expect India’s ‘14/15 soybean area to rise 2-4% from ‘13/14 area

 

July beans made a new contract high today of 1536 ¾

 

July meal made a new contract high today of 508.00

 

Dec meal made a new contract high today of 411.40

 

July corn closed below the 100 day moving average of 477 ¼ . July corn settled at 476 ¾

 

July corn closed above the 200 day moving average of 473. July corn settled at 476 ¾

 

Dec corn closed below the 100 day moving average of 477 ½ and below the 200 day moving average of 479. Dec corn settled at 473 ½

 

July wheat closed above the 200 day moving average of 658. July wheat settled at 659 ¼

 

July bean oil closed below the 100 day moving average of 4091. July bean oil settled at 4086

 

Weekly COT report comes out tomorrow at 230 pm CST

 

Estimated fund activity

  • Wheat sold 2K
  • Corn bought 3K
  • Beans bought 5K
  • Meal bought 2K
  • Bean oil bought 2K

 

Open outcry option players

 

Corn:

JPM sold 500 N 500 calls

ADM bot 1000 Q 520 calls

ADM bot 500 short dated N 480 puts

FI bot 1000 N 480 puts and bot 500 CN futures

ICAP sold 1000 N 500 calls at 5 1/8 and bot 240 N futures

 

Beans:

FI Bot 500 Nov 1140/1100 Put spds 7.75 db

JP Morgan Bot 1500 Jul 1500/1460 Put spds 11.75 db/ Bot 255Jul futures 1528

JP Morgan Bot 1500 Jul 1500/1460 Put spds 12.75 db/ Bot 255 Jul futures 1522

Bunge Bot 400 SDFN 1270 Calls/ Sold 400 SDFU 1340 Calls 1 db

Bunge Sold 200 SDFU 1260 Puts 21

ABN Sold 250 Jul 1500/1420 Puts spds 17.25-17.5 credit

Bunge Bot 250 SDFN 1220 Puts 7.5-8

Rand Bot 5000 Nov 1260/1200 Put spds 25.5-25.75 db/ Bot 700 Nov futures 1269

Bache Bot 1000 Jul 1360 Puts 1.375

Bache Bot 1000 Jul 1340 Puts 1

JP Morgan Sold 1500 Jul 1440 Puts 7-7.125/ Sold 220 Jul futures 1528

JP Morgan Sold 1500 Jul 1440 Puts 7/ Sold 220 Jul futures 1522

FI Bot 1000 Nov 1180 Puts 31-31.5

Rosenthal Bot 600 Nov 1000 Puts 4

EDF Bot 500 Nov 1260 Calls 75-75.5

Bunge Sold 200 SDFN 1300 Puts 39.75-40

New Edge Bot 1000 Nov 1000 Puts 3.75

EDF Sold 200 Jul 1520 Calls 38.25/ Bot 112 Jul futures 1530

Marex Bot 800 Aug 1500 Calls/ Sold 1200 Jul 1550 Calls ev-1 db

ABN Bot 900 Jul 1500 Puts 24.5-25.25

Bache Bot 200 SDFN 1270/1290 Call spds 8.25 db

Obrien Bot 2000 Nov 1000 Puts 3.75/ Bot 100 Nov futures 1273

Tenco Sold 500 June 1500 Calls 19/ Bot 500 Jul futures 1517

 

Wheat:

ABN bot 250 N 710 calls covered

Mizuho bot 300 Q 630 put and sold 300 N 650 puts

 

Oil:

RJO bot 1000 N 43-44 call spreads

RJO bot 2000 Q 42 ½-45 ½ call spreads

RJO bot 550 Q 41 ½-44 call spreads

RJO bot 200 N 44 calls

JPM bot 500 N 43-44 call spreads

New Edge bot 300 N 39 puts

Rosenthal bot 300 N 44 calls

Rosenthal bot 200 N 40 puts

FCS sold 200 N 41 ½-39 put spreads/bot 200 N 43 ½ calls

FCS sold 200 N 42-45 call spreads

FCS sold 200 N 40 ½-39 put spreads/bot 200 N 43 ½ calls

 

Meal:

Rand bot 400 Z 340 puts

JPM bot 300 U 440 calls

JPM bot 200 Q 480 calls

Rosenthal bot 150 N 500 straddles

 

Closing vols and ATM Straddles

 

Corn

M vol 13 ¼ 475 str 4 ¾ -5

N vol 21 ¼ 475 str 23 ¼ -23 ¾

Q vol 27 ½ 475 str 44-44 ½

U vol 27 ½ 470 str 52 ½-52 ¾

Z vol 25 ¾ 470 str 68 ½-69

 

Beans

M vol 19 ½ 1520 str 17-19

N vol 18 ¼ 1520 str 62 ½ -65 ½

Q vol 20 ½ 1450 str 99-102

U vol 21 1320 str 111-114

X vol 20 ½ 1260 str 133-136

 

Wheat

N vol 26 ½ 660 str 38-40

Q vol 26 ½ 670 str 58-61

U vol 24 ¼ 670 str 69-72

Z vol 24 ½ 690 str 93-96

 

KC wheat

N vol 26 750 str 44-46

U vol 25 ½ 760 str 76-79

Z vol 23 ¼ 770 str 98-103

 

Minneapolis wheat

M vol 23 ¾ 730 str 9-15

N vol 23 ¾ 730 str 37-43

U vol 23 ¾ 740 str 67-73

Z vol 22 ½ 750 str 90-97

H vol 22 750 str 108-118

 

Meal

N vol 26 500 str 29-30

Q vol 25.5 480 str 40-42

U vol 25.25 440 str 44-46

V vol 24 410 str 46-48

Z vol 23.5 410 str 53-56

 

Bean oil

N vol 18 41 str 155-175

Q vol 18 41 str 235-255

U vol 18 41 str 280-300

V vol 18 41 str 330-350

Z vol 17.75 41 str 390-415

 

Crush quotes

 

OPEN               CLOSE

JLY              34.5-35.5         34-35

AUG           47-50                45-48

SEP             94-96                93-97

OCT            84-85.5            84-85.5

DEC            79-79.5            79.5-80

JAN            72.5-73            73-74

MCH          71.5-72            71.5-72

MAY          70.5-71.5        70.5-71

JLY5            69.5-70.5        69.5-70

AUG           70-76.75         70-76.75

 

Crush and oil share players

 

Rand bought 150 July crush at 33-33.75

 

FC Stone bought July oil share 20 oil/ meal at 29.07%

Rosenthal sold Sept oil share 49 oil/meal at 31.80

 

 

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