News From The Floor-An Afternoon Recap

News

 

Egypt GASC bought 240,000 tons of wheat for August shipment . 180,000 tons from Romania and 60,000 tons from Russia.

 

China sold 106,739 tons (or 30%) of beans at today’s auction. They offered 355,668

 

Brazil Trade Ministry – Brazil June exports

  • Beans 6.89 MMT vs. 7.61 MMT a month ago and vs. 6.50 MMT a year ago
  • Meal 1.68 MMT vs. 1.42 MMT a month ago and vs. 1.27 MMT a year ago
  • Bean oil 135,200 tons vs. 111,485 tons a month ago and vs. 104,900 tons a year ago
  • Corn 87,600 tons vs. 126,500 tons a month ago and vs. 276,300 tons a year ago
  • Ethanol 167.3 million liters vs. 139.3 ML a month ago and vs. 279.5 ML a year ago

 

Indonesia Stats Bureau 2014 estimates

  • Rice crop at 69.87 MMT vs. 71.28 MMT in 2013
  • Corn crop at 18.55 MMT vs. 18.51 MMT in 2013
  • Bean crop at 892,600 tons vs. 779,900 tons in 2013

 

Hearing Cordonnier estimated US 2014 corn yield at 165.0 BPA unchanged from previous estimate

 

Hearing Cordonnier estimated US 2014 bean yield at 45.0 BPA unchanged from previous estimate

 

Italy bought 70,000 tons of Black Sea origin corn over the past 2 weeks for immediate shipment

 

Jordan bought 50,000 feed barley optional origin for Dec shipment

 

Turkey bought 37,500 tons of milling wheat optional origin for July-August shipment

 

Turkey bought 39,000 tons of barley optional origin for July-Aug shipment

 

Ukraine Ag Min said as of July 1st Ukraine has harvested 2.475 MMT of grain on 891,000 hectares with an average yield of 2.78 TPH. A year ago Ukraine harvested 5.548 MMT of grain on 2.174 MH with an average yield of 2.55 TPH

 

Frost in southern Brazil poses risk to wheat and corn crops

 

USDA said yesterday that 40% of Kansas wheat crop has been harvested vs. 50% a year ago and vs. 66% average

 

Informa comes out on Thursday at 1030 am CST with their US wheat , corn , and soybean crop estimates and also world production estimates

 

Nov beans made new contract lows today of 1132

 

Dec meal made new contract lows today of 355.80

 

Dec meal closed below the 200 day  moving average of 364.90. Dec meal settled at 362.10

 

Dec corn made new contract lows today of 417

 

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

 

China to auction a total of 5.0 MMT of corn tomorrow and Thursday.

 

Weekly DOE energy inventory report comes out tomorrow at 930 am CST

 

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

 

Estimated fund activity

  • Wheat sold 2K
  • Corn sold 4K
  • Beans sold 6K
  • Meal sold 3K
  • Bean oil bought 1K

 

Open outcry option players

 

Corn:

Rosenthal sold 2300 Z 460-450 put spreads

ICAP bot 2250 U 410 puts/sold 1500 Z 410 puts

ICAP bot 1500 H 450 calls/sold 630 CH

ICAP sold 1000 Z 470 calls/370 put strangles

FI sold 1500 Q 440-460 call spreads/bot 1500 Q 430-410 put spreads

JPM bot 2400 Z 400 puts/sold 1200 Z 450 puts

JPM sold 1000 Z 420 puts/sold 500 CZ

RJO bot 1000 Z 400 puts/sold 1000 Z 440 calls

JPM sold 500 U 430 calls

 

Beans:

ADM Sold 500 Nov 1220/1100 Put spds 66-66.5 credit

ADM Sold 1000 Nov 1220 Puts/ Bot 2000 Nov 1140 Puts 4-5 db

ADM Sold 350 Nov 1180 Puts/ Bot 500 Nov 1100 Puts 4 credit

Bunge Bot 500 SDFU 1140/1100 Put spds 17.75-18 db

Bunge Sold 1000 SDFU 1150 Calls 31-32.5

ADM Sold 300 Nov 1220/1120 Put spds 61 credit

Obrien Sold 350 Nov 1100 Puts 34.125/ Sold 116 Nov futures 1145

Obrien Sold 200 Nov 1140 Straddles 107.5/ Sold 24 Nov futures 1145

Rand Sold 6000 Nov 1180 Puts/ Bot 12000 Nov 1100 Puts 4 credit/ Bot 720 Nov futures 1142

FI Sold 2000 Sep 1200/1160 Put spds 20.75 credit

JP Morgan Sold 250 Mch 1300 calls 19.75

JP Morgan Sold 250 May 1300 calls 24-24.5

FI Sold 750 Sep 1200 Puts 52.5-53

ADM Sold 200 Nov 1200 Calls 30-30.25

ABN Sold 800 Nov 1200/1120 Put spds 45.25-45.75 credit

ABN Sold 300 Nov 1220/1140 Put spds 49.5 credit

ADM Bot 250 Nov 1260 Calls 16

Macquarie Sold 250 Nov 1180 Puts 76.25/ Sold 150 Nov futures 1141

Vision Bot 3000 Nov 1060/1000 Put spds 12.25-12.5 db

ADM Sold 300 Nov 1140 Straddles 108.5

ADM Sold 500 SDFU 1140 Puts 37.5

JP Morgan Bot 500 Nov 1200 Puts 73/ Bot 330 Nov futures 1135

Tenco Sold 300 Nov 1200/1300 call spds 20-21 credit

GFI Sold 1000 Nov 1160 Puts 61-63.5

GFI Sold 3000 Nov 1160/1100 Put spds 27.25-28.75 Credit

JP Morgan Bot 1500 Nov 1100/1040 Put spds / Sold 1500 Nov 1200 calls 10-10.625 credit/ Bot 750 Nov futures 1138

ABN Sold 600 SDFU 1180/1120 Put spds 32 credit

DRAX Bot 400 May 1200 Puts 92.75/ Bot 220 May futures 1163

Cunningham Sold 500 Nov 1200 Calls 30.5

Obrien Bot 200 Nov 1000 Puts 9.75

Rand Sold 500 Nov 1180 Puts/ Bot 1250 Nov 1100 Puts 13.5 db

ADM Bot 400 Aug 1360 Calls/ Sold 400 Aug 1280 Puts 3-3.5 db

Obrien Sold 1000 Nov 1000 Puts 10

JP Morgan Sold 1000 Aug 1260 Puts/ Sold 1000  Aug 1420 calls 8.5-9.5 credit

Bunge Sold 500 Nov 1100 Puts 32.5-33

 

Wheat:

New Edge bot 600 Z 590-530 put spreads/sold 600 Z 640 calls

RJO sold 500 Z 590-560 put spreads

 

Meal:

JPM bot 1,000 Q 450 calls 4.40-4.50

JPM bot 500 Z 340 puts/sold 500 Z 400 calls at 1.00

ABN bot 600 Z 340 puts

FI sold 300 V 360 puts

FI sold 300 Z 330 puts

New Edge bot 300 U 400 puts/sold 300 F 330 puts/400 call strangles

ICAP sold 300 Z 370-340 put spreads

 

Oil:

RJO bought 110 Z 39 C 165

RJO bought 250 Z 4250 C 60

JPMorgan sold 600 Q 40 C 30-31 vs. 3880

ADM  bought 400 Z 38 P 125

Jeffries  sold 100 Q 38 P 37

FC Stone bot 200 Q 3850 C,  sold 200 Q 3750 C, bot 200 Q 4250 C, sold 200 Q 4050 C -20

 

Closing vols and ATM straddles

 

Corn

Q vol 24 415 str 20-21

U vol 24 ¾ 415 str 30 ½-31 ½

V vol 24 ¼ 420 str 39-40 ½

Z vol 23 ½ 420 str 49 ¼-50 ¼

H vol 23 ¾ 430 str 65-66

K vol 24 440 str 75-76

N vol 23 ¾ 450 str 83-85

Z15 vol 21 ¼ 450 str 88 ½-90 ½

 

Beans

Q vol 19 ½ 1330 str 53-55

U vol 21 ¼ 1180 str 75-77

V vol 21 1150 str 92-95

X vol 21 1140 str 108-111

F vol 19 1160 str 120-124

 

Wheat

Q vol 22 570 str 25-28

U vol 22 570 str 37-39

Z vol 20 ¾ 600 str 60-63

H vol 20 620 str 78-82

K vol 20 630 str 89-93

 

KC wheat

Q vol 22 ½ 690 str 30-33

U vol 21 ¾ 690 str 44-47

Z vol 19 ½ 700 str 67-71

H vol 19 ½ 700 str 83-85

K vol 19 ½ 700 str 95-102

 

Minneapolis wheat

U vol 19 ¼ 670 str 36-39

Z vol 18 ¼ 680 str 58-64

H vol 18 ¼ 690 str 74-80

 

Meal

Q vol 27.25 450 str 23-25

U vol 26 390 str 30-32

V vol 24.75 370 str 34-36

Z vol 23.5 370 str 42-44

F vol 21.5 370 str 43-45

 

Bean oil

Q vol 19.25 39 str 140-160

U vol 18.75 39 str 210-230

V vol 18.5 39 str 260-285

Z vol 17.25 39 str 320-345

F vol 16.75 39 str 355-385

 

Crush quotes

 

OPEN                 CLOSE

JLY            27-38                  25-35

AUG        46-47                   47-47.75

SEP          1.02-1.025          1.04-1.05

OCT         86-87                    86-87

DEC         81.5-82                81-81.5

JAN         74.5-75.5             74-75

MCH       74-74.5                74-74.5

MAY       72.5-73                 74-75

JLY5        71.5-72.5             74-75

AUG5     70-78                    75-78

 

Crush and oil share players

  • ADM sold 20 Sept crush at 1.035
  • RJO bought 140 Dec crush at 80.5
  • ABN bought 750 oil / 480 meal at 35.02-35.35% – Dec oil share
  • Wells Fargo bought 50 oil / 30 meal at 35.10% – March oil share

 

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