News From The Grain Floor 08/03/15

Overnight closes

  • SX down 10 ¼ at 930
  • CZ down 5 ¾ at 375 ½
  • WU down 5 ½ at 493 ¾
  • KC WU down 7 ¼ at 485
  • MWU down 5 ½ at 518
  • SMZ down 3.80 at 320.10
  • BOZ down 39 at 3000

Overnight volume

  • SX 22,273
  • CZ 26,425
  • WU 6,477
  • KC WU 1,450
  • MWU 373
  • SMZ 6,691
  • BOZ 13,696

Overnight option volume

  • Beans 5,302
  • Corn 5,277
  • Wheat 1,254
  • Meal 553
  • Bean Oil 238

Total EOO’s cleared from previous session

Contract Year Month

Product Desc

P/C Ind

Strike Price

Ex Pit Volume – CME Group

201509

CORN OPTIONS

C

460

708

201509

CORN OPTIONS

P

385

708

201509

CORN OPTIONS

P

410

691

201509

CORN OPTIONS

P

400

465

201509

CORN OPTIONS

P

390

184

201509

CHICAGO SRW WHEAT OPTIONS

P

510

113

201512

CORN OPTIONS

P

410

106

201509

CORN OPTIONS

C

410

51

201512

CORN OPTIONS

P

420

34

201509

CHICAGO SRW WHEAT OPTIONS

P

530

16

201509

CORN OPTIONS

C

400

8

201512

CHICAGO SRW WHEAT OPTIONS

P

560

5

201512

CHICAGO SRW WHEAT OPTIONS

P

520

3

201512

CHICAGO SRW WHEAT OPTIONS

P

530

1

 Funds

 

COT

COT

COT

 

 

 

Current

 

21-Jul

28-Jul

to COT

29-Jul

30-Jul

31-Jul

Estimate

Corn

207830

179246

-28584

-12000

4000

-4000

167246

Wheat

-18171

-30306

-12135

-8000

2000

0

-36306

Soybeans

80335

37638

-42697

0

4000

-5000

36638

Soymeal

69527

64166

-5361

2000

3000

-2000

67166

Soyoil

16176

-1469

-17645

-5000

2000

-1000

-5469

 News

Euro down 1.0962 down slightly

Nikkei down .18%

Hang Seng down .9%

Shanghai Index down 1.1%

China’s official final July manufacturing PMI at 50.0 , expecting 50.1, and vs. 50.2 in June.

Euro Zone final July manufacturing PMI at 52.4, expecting 52.2, and vs. 52.5 in June

Today is the start of a new month.

China grain market closes = beans down 13, corn down 6, meal down 17, palm oil down 70, and bean oil down 68

Malaysian palm oil market closed down 65, Palm oil futures hit an eleven month low.

SGS estimated Malaysia’s July palm oil exports at 1,539,583 tons down 9.2%

Intertek Agri Services estimated Malaysia’s July palm oil exports at 1.54 MMT down 6.4% from a month ago

Indonesia keeps crude palm oil export tax at zero , unchanged from July .

Based on a Reuters survey Indonesia’s June palm oil output estimated at 2.8 MMT vs. May output of 2.77 MMT

Based on a Reuters survey Indonesia’s June palm oil exports estimated at 2.4 MMT up 12% from a month ago   

Favorable US Midwest weather.

South Korea KFA bought 65,000 tons of optional origin corn for Jan shipment

South Korea MFG seeks 70,000 tons of optional origin corn for Jan shipment

South Korea NOFI canceled tender for 55,000 tons of South American soymeal for October November shipment due to high prices.

Talk/Reports continue of Brazilian corn being imported into the US.

Russia’s Ag Min estimated Russia’s 2015 grain crop at 101.5 MMT vs. previous estimate of 100.0 MMT

Lanworth US Midwest crop tour begins today. Ends Wednesday.

There were 1,206 bean oil deliveries with the date current. House ADM  issued 75 and stopped 15.

 Receipt Registrations as of Friday afternoon.

  • Wheat = 465
  • Oats = 18
  • Corn =264
  • Ethanol = 51
  • DDGs = 0
  • Beans = 0
  • Bean oil = 3,063
  • Soymeal = 0
  • Rice = 2,454
  • KC wheat = 1

o   1 KC wheat receipt was canceled Friday afternoon out of ADM Hutchinson Elev. A. KS.  

  • Minneapolis wheat =  722

Open interest as of Friday’s close

  • Total corn 1,364,290 open, up 3,496
  • Total soybeans 641,710 open, down 557
  • Total soymeal 382,644 open, down 4,012
  • Total bean oil 377,661 open, up 722
  • Total wheat 413,138 open, up 7,104
  • Total KC wheat 201,360 open, up 4,006

Upcoming reports/events:

  • Lanworth Midwest crop tour is Aug 3-5th
  • Weekly US export inspection report comes out today at 10 am CST
  • Weekly US crop progress report comes out today at 3 pm CST . Expecting

o   Corn conditions steady to up 1% from a week ago

o   Bean conditions steady to up 1% from a week ago

o   Spring wheat conditions steady to up 1% from a week ago

  • FC Stone will come out with 2015 US crop estimates tomorrow at about 3 pm CST
  • Weekly API energy inventory report comes out tomorrow at 330 pm CST
  • Informa expected to come out with their 2015 US crop estimates sometime this week. Hearing report will come out on Wednesday Informa comes out at 1030 am CST.
  • USDA crop production and supply and demand report comes out Wednesday August 12th at 11 am CST
  • Pro Farmer annual crop tour is August 16-20th
  • USDA will restart monthly census crush reports, report was supposed to come out on August 3rd , but this report was delayed. The report will not come out until October

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