News From The Grain Floor-An Afternoon Recap

News

 

Market talk continues of China trying to resell or wash out soybean cargoes. Reports said as many as 12 cargoes today.

 

Egypt Meditrade seeks 30,000 sunflower oil and 15,000 bean oil for April-May shipment

 

Egypt FIHC seeks 40,000 sunflower oil for May shipment

 

Buenos Aires Grains Exchange – Weekly Argentina crop report

  • Bean harvest is 1.2% complete vs. 4% a year ago
  • Estimated Bean crop at 54.5 MMT
  • Corn harvest is 7% complete vs. 4% a week ago and 14.5% a year ago
  • Estimated corn crop at 23.5 MMT unchanged from previous estimate
  • Sunflower harvest is 68.3% complete vs. 51.7% a week ago
  • Estimated sunflower crop at 2.3 MMT

 

Rosario Grains Exchange estimated Argentina’s ‘13/14 bean crop at 54.7 MMT

 

Japan January use of corn in animal feed was 45.7% vs. 45.2% in December and vs. 42.2% in January 2013

 

NOAA said Midwest corn planting may be delayed due to slow thaw

 

April options expire tomorrow at 115 pm CST

 

Weekly COT report comes out tomorrow at 230 pm CST

 

Informa acreage estimates come out early next week.

 

Estimated fund activity

  • Wheat sold 5K
  • Corn sold 7K
  • Beans bought 3K
  • Meal bought 2,500
  • Bean oil sold 3K

 

Open outcry option players

 

Corn:

FI sold 1500 K 500-550 call spreads – My broker said they were long about 5,000 of these spreads.

JPM sold 500 K 470-485 call spreads

ADM sold 500 K 470 puts

 

Beans:

Tenco bot 2000 K 1450-1350 put spreads

Tenco bot 500 N 1440 calls/sold 500 X 1240 calls

Macquarie bot 2000 K 1400-1360 put spreads/bot 260 SK

FI bot 2000 K 1400 puts

FI sold 1000 J 1450 calls

FI sold 800 K 1400 straddles

ABN bot 2000 K 1450 calls/sold 1000 K 1400 calls/sold 320 SK

ABN sold 800 K 1300 puts/sold 56 SK

Morgan Stanley sold 1500 N 1400 straddles

Bunge bot 500 N 1280 calls/sold 1000 N 1420 calls

Bunge bot 800 N 1300 calls/sold 1600 N 1420 calls

Rosenthal bot 500 K 1400-1380 put spreads

Rosenthal bot 400 M 1460 calls

 

Wheat:

JPM bot 1500 K 740-780 call spreads

JPM bot 400 K 750 calls

Man bot 2000 N 640-600 put spreads

ICAP sold 1000 K 680 puts

Newedge bot 900 M 650 puts

JPM sold 500 U 930 calls

 

Meal:

FI bot 500 Z 400 calls

 

Oil:

Bunge bot 2000 K 42 ½ calls

Bunge sold 500 K 41 puts

Tenco bot 600 N 43 calls

JPM sold 400 N 35 puts

FCS bot 400 K 43 calls

Newedge bot 500 N 41-39 put spreads/sold 500 N 43 calls

 

Crush quotes

 

OPEN             CLOSE

MAY        45.5-46.5       47-47.5

JLY           36.5-37           38.5-39

AUG        40-42              42-43

SEP          86-90               85-89

OCT         84-85               83-85

DEC         76-76.5           76-76.5

JAN         70.5-72.5       70-74

MCH       70-73               70-73

MAY5      69.5-70          68-70

JLY5          69.5-70          68.5-69.5

 

Crush players

  • ABN sold 80 May at 44
  • ABN bought 80 July at 35
  • Tenco sold 300 May at 45
  • Tenco sold 50 Oct at 84
  • Tenco sold 50 Dec at 76
  • Tenco sold 50 Jan, Dec, Dec at 72
  • Oil Share player – Rosenthal sold 100 Dec oil / 80 meal at 34.85-35.25%