News From The Grain Floor 8/29/14

Good morning .

 

Knowledge is love and light and vision.

–          Helen Keller

 

USDA announced 123,000 tons of US beans sold to unknown for ‘14/15 .

 

Today is month end

 

Today is first notice day for September futures

 

Deliveries

  • KC wheat 800 with the date at 8/19/14 , expecting 0-50 deliveries

o   House ADM issued 800

  • Bean oil 264 with the date at 8/11/14 expecting 200-2,000

o   Customer JP Morgan stopped 34

  • Chicago wheat 58 with the date at 6/26/14 expecting 0-100

o   House ADM issued 58

o   Customer JP Morgan stopped 10

  • Minneapolis wheat 28 with the date at 6/24/14 expecting 100-500

o   ADM issued 28

  • No beans as expected
  • No corn expecting 0-7
  • No meal as expected

 

Receipt registrations

  • Wheat unchanged at 144
  • Corn unchanged at 7
  • Beans unchanged at 0
  • Meal unchanged at 0
  • Rice unchanged at 0
  • KC wheat 849 registered – 800 new receipts registered afternoon out of ADM
  • Bean oil 5,560 registered – 149 receipts canceled yesterday

 

Overnight closes

  • SX up 2 ¼ at 1031
  • CZ down 1 ¼ at 368
  • WZ up 5 at 576 ¾
  • KC WZ up 3 ¾ at 648 ½
  • MWZ up 2 ¾ at 634 ¾
  • SMZ up 1.80 at 350.40
  • BOZ down 13 at 3266
  • RRX down 3.50 at 1278

 

Overnight volume

  • SX 6,852
  • CZ 8,340
  • WZ 5,649
  • KC WZ 1,817
  • MWZ 163
  • SMZ 3,622
  • BOZ 5,147
  • RRX 12

 

Opening calls

  • Beans 2-4 higher
  • Corn steady -2 lower
  • Wheat 4-6 higher
  • KC wheat 3-5 higher
  • Minneapolis wheat 2-4 higher
  • Meal 1.50-2.50 higher
  • Bean oil 10-20 lower
  • Rice 3-5 lower

 

Dollar unchanged. Crude and stock market higher. Gold and silver lower.

 

Nikkei down .23%

Hang Seng down .1%

Shanghai Index up 1.2%

 

China grain closings = beans down 2, corn down 8, meal up 1, palm oil down 2, bean oil up 4.

 

Malaysian palm oil down 11

 

South Korea MFG bought  65,000 tons of optional origin feed wheat for Jan shipment

 

South Korea Kocopia bought 55,000 optional origin corn for Jan shipment

 

Open interest as of yesterday’s close

  • Total corn 1,221,324 open, down 15,618
  • Total beans 657,966 open, up 3,859
  • Total meal 326,460 open, up 753
  • Total bean oil 362,838 open, up 2,599
  • Total wheat 306,207 open, up 696
  • Total KC wheat 133,635 open, up 636

 

Upcoming reports/events

  • Weekly  COT report comes out today at 230 pm CST
  • US markets closed Monday September 1st. See attachment for Labor Day trading hours schedule.
  • SGS and Intertek will estimated Malaysia’s August palm oil exports on Sept 2nd.
  • Weekly US export inspections come out on Tuesday at 10 am CST
  • Weekly US crop progress report comes out Tuesday at 3 pm CST
  • US August unemployment report comes out Friday Sept 5th at 730 am CST
  • ABARES comes out on Monday Sept 8th with their Australian crop estimate updates
  • Dorab Mistry to speak at conference in Shanghai on Sept 15th

 

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