Ag Intel

Friday's Corn market was mostly lower with the July contract higher by 1'6 to 467'2. Overall volume was 497,259, with the July maturity seeing 126,896 change hands. Across all maturities, open interest fell by 10,702, or 0.57%, to 1,878,218. July increased by 2,926 (0.51%), finishing at 580,728.

Option trading centered around the May 470 calls with 4,685 changing hands and the May 440 puts with volume of 6,717. For July options, the 480 calls were the most active with 3,638 done, and the high volume put was the 450 strike with 1,968 contracts changing hands. Options with the greatest open interest are the July 460 call with 61,036, and the July 460 put with 61,477.

Implied Volatility finished the day sharply up with CVL higher by 1.4, to close the session at 24.20. Lower by 0.15% to a one month low, historical volatility (as measured by the 30-day) finished the day at 20.35%. The CVL Skew finished lower, off 0.15 to end at 1.17, a one week low.

May Soybean futures ended the day at a one month low of 977'0 Friday, dropping by 34'4 (3.41%). Total volume came in at a contract high of 617,044, with the May contract seeing a heavy 269,757 done. Across all maturities, open interest ended at a one month high of 892,930, adding 22,578, or 2.59%. May open interest increased 3,703 (1.12%), to 332,925.

Option trading centered around the May 1050 calls with 10,937 changing hands and the Nov 900 puts with volume of 13,491. Calls with the highest open interest are the July 1040 strike (16,766), and for the puts are the Nov 900 strike (21,576).

Implied Volatility ended the session sharply higher with SVL gaining 5.0, to close at a one month high of 21.04. Adding 2.88% to a one week high, historical volatility (as measured by the 30-day) settled at 17.34%. The SVL Skew ended sharply lower, off by 1.2 to settle at a twelve year low of -0.99.

May Wheat futures settled at a one week low of 529'0 Friday, off 7'0, or 1.31%. Across all maturities, 161,114 contracts changed hands, with 82,626 traded in the May maturity. Overall open interest finished at a one month high of 489,893, adding 2,650, or 0.54%. May open interest fell by 1,598 (0.73%), to 217,927.

Option volumes were greatest for the May 550 call (5,119) and the May 520 put (2,056). Options with the highest open interest are the July 900 call with 11,443, and the July 550 put with 9,026.

As measured by WVL, implied volatility finished the day sharply higher, gaining 1.8 to close at a one week high of 31.26. The 30-day historical volatility finished the session dropping 0.22% to a one week low of 21.17%. The WVL Skew was moderately higher with the 30-day adding 0.15, ending at 3.96.

May Corn futures settled at 457'4 Thursday, losing 0'2, in mostly lower trade. Overall, 513,174 contracts changed hands, with 203,152 traded in May. Across all maturities, open interest fell 1,011, or 0.0535%, to end the session with 1,889,251 outstanding. The May maturity dropped 3.56% (1,011) to finish at 580,074.

Option volumes were greatest for the May 480 call (9,362) and the May 450 put (5,913). Highest volumes in July option trading were seen in the 500 calls (2,734) and the 465 puts (2,015). Option open interest is largest for the July 460 calls at 61,050, and the July 460 puts at 60,805.

Implied Volatility closed moderately down with CVL off 0.93, to settle at a one week low of 22.82. Historical volatility (30-day) finished the session at 20.50%, dropping by 0.26%. The CVL Skew finished the day down, dropping 0.16 to end the session at 1.32, a one week low.

Soybean futures were lower Thursday with the May contract finishing the session at a one week low of 1011'4, off 18'0 (1.75%). Combined volume came in at a one month high of 396,365, with the May contract seeing a heavy 169,499 traded. Total open interest ended the session at a one month high of 870,194, higher by 7,555, or 0.88%. May open interest dropped 2,649 (0.80%), to 329,017.

Option trading centered around the May 1020 calls with 4,588 done and the Nov 940 puts with volume of 8,017. Calls with the greatest open interest are the July 1040 strike (16,838), and for the puts are the July 1040 strike (17,199).

As measured by SVL, implied volatility finished moderately higher, up by 0.15 to end the day at 16.07. Historical volatility (30-day) ended at 14.45%, up by 0.76%, to a one week high. The SVL Skew was sharply lower with the 30-day down by 0.81, closing at a one week low of 0.18.

May Wheat futures settled at 536'0 Thursday, off by 3'2, in mixed trade. Overall volume was 160,910, with May seeing 80,918 traded. Total open interest fell by 491, or 0.10%, to end the session with 487,265 outstanding. The May maturity dropped 0.73% (491) to finish at 219,641.

The July 500 put saw the most traded with 1,278 contracts done. In May options, the high volume call was in the 580 strike with 1,281 changing hands, and the 520 put leads with volume of 961. Options with the largest open interest are the July 900 call with 11,443, and the July 550 put with 9,026.

Wheat implied volatility ended down as WVL decreased 0.58 to finish the session at 29.46, a one week low. The 30-day historical volatility closed off 0.22% to 21.39%. The WVL Skew was sharply lower with the 30-day down 0.51, finishing at a twelve year low of 3.81.

Corn futures were mixed Wednesday with the May contract finishing the session at 457'6, lower by 4'0. Overall the session saw 356,678 contracts traded, with May volume coming in at 159,591. Combined open interest ended the day at a one month high of 1,888,078, gaining 8,086 (0.43%). May open interest decreased by 5,934, or 0.98%, to 601,696.

Option trading centered around the May 500 calls with 9,046 done and the May 450 puts with volume of 3,858. Greatest volumes in July option trading were seen in the 520 calls (2,230) and the 435 puts (802). Calls with the greatest open interest are the July 460 strike (61,777), and for the puts are the July 460 strike (60,658).

Implied Volatility finished the session moderately lower with CVL dropping by 0.27, to end at a one week low of 23.75. The 30-day historical volatility settled up 0.0052% to 20.77%. The CVL Skew ended moderately down, lower by 0.64 to settle at 1.47, a one week low.

Wednesday's Soybean market was mixed in a quiet session, with the May contract dropping by 4'6 to 1029'4. Total volume was 268,346, with May seeing 129,992 change hands. Overall open interest closed the session at a one month high of 862,704, up by 8,743, or 1.02%. May open interest dropped 6,232 (1.84%), to 331,734.

The May 1020 put saw the most action with 3,888 contracts changing hands. Options with the greatest open interest are the July 1040 call with 16,940, and the July 1040 put with 17,501.

Soybean implied volatility finished the session slightly higher as SVL increased 0.074 to settle at 15.92. Historical volatility (30-day) finished the session at 13.70%, down 0.67%. The SVL Skew ended the day moderately higher, up by 0.084 to close at 0.99.

May Wheat futures settled at 539'2 Wednesday, down 1'2, in lower trade across the board. Across all maturities, volume was 113,344, with the May contract seeing 58,991 traded. Overall open interest increased 164 (0.0336%), with May down by 2,572, or 1.15%, to 221,282.

Option volumes were greatest for the May 570 call (1,570) and the May 510 put (1,259). Option open interest is greatest for the May 580 calls at 11,476, and the July 550 puts at 9,024.

Implied Volatility finished the session moderately down with WVL dropping 0.58, to close the day at a one week low of 30.04. The 30-day historical volatility finished off by 0.0755% to 21.61%. The WVL Skew finished the session sharply lower, dropping 0.82 to end the day at 4.33, a one month low.