Pure Hedge – Grains

Bill AllenGeneral Commentary

9/15/23

The grain markets were mixed again today. December’23 Corn was 4 1/4 cents lower today, and settled at 476 1/4, down 7 1/2 cents for the week. November’23 Soybeans closed down 20 1/4 cents today, and settled at 1340 1/4, down 22 3/4 cents for the week. December’23 Wheat was the only one to close higher today and for the week. December’23 Wheat was up 10 1/2 cents today, and settled at 604 1/4, up 8 1/2 cents for the week. The next crop report is in ten trading days, on September 29th. Next year’s grain futures prices: December’24 Corn 508 1/2, December’24 Wheat 676 1/4, November’24 Soybeans 1282 1/2.

SOYBEAN CALLS
MONTHSTRIKEPRICECOST
NOV ’23 1340 1/41400C9$450
1450C3 3/8$168.75
1500C1 1/2$75
1550C3/4$37.50
1600C1/2$25
ATM X1340c 28 ATM STRADDLE 55 3/4EXPIRES 10/27/23
MAR ’24 1365 1/21500C18 1/8$906.25
 1560C10 3/4$537.50
 1600C7 3/4$387.50
1700C3 3/4$187.50
1800C2$100
ATM H1360c 59 3/8ATM STRADDLE 113 3/8EXPIRES 2/23/24
JUL ’24 13701500C33 5/8$1681.25
1600C18 1/8$906.25
1700C10 1/8$506.25
1800C5 7/8$293.75
1900C3 5/8$181.25
ATM N 1380c 70 3/8ATM STRADDLE 150 3/8EXPIRES 6/21/24
SOYBEAN PUTS
MONTHSTRIKEPRICECOST
NOV ’23 1340 1/41300P12 1/8$206.25
1250P3 5/8$81.25
1200P1 3/8$43.75
1150P5/8$25
1100P1/4$6.25
ATM X1340p 27 27 3/4ATM STRADDLE 55 3/4EXPIRES 10/27/23
MAR ’24 1365 1/21260P17 3/8$868.75
 1200P7 3/4$387.50
 1100P2 1/4$112.5
1000P3/4$37.50
900P 3/8$18.75
ATM H1360p 54ATM STRADDLE 113 3/8EXPIRES 2/23/24
JUL ’24 13701260P29 3/8$1468.75
 1200P15 7/8$793.75
 1100P5 3/8$268.75
1000P2$100
900P7/8$43.75
ATM N1380p 80ATM STRADDLE 150 3/8EXPIRES 6/21/24
CORN CALLS
MONTHSTRIKEPRICECOST
DEC ’23 476 1/4500C7 1/8$356.25
550C1 1/2$75
600C5/8$31.25
650C3/8$18.75
700C1/8$6.25
ATM Z480c 13 3/4ATM STRADDLE 31 1/4EXPIRES 11/24/23
MAR ’24 490 1/2550C6 1/2$325
 600C2 3/8$118.75
 650C1 1/8$56.25
700C5/8$31.25
800C1/4$12.50
ATM H490c 23 1/8ATM STRADDLE 45 3/4EXPIRES 2/23/24
JUL ’24 503 3/4550C17 3/4$887.50
 600C9$450
650C4 3/8$218.75
700C2 7/8$143.75
800C1 1/8$56.25
ATM N500c 34 3/4ATM STRADDLE 65 7/8EXPIRES 6/21/24
CORN PUTS
MONTHSTRIKEPRICECOST
DEC ’23 476 1/4450P5 1/4$262.50
425P1 3/8$68.75
400P3/8$18.75
375P1/8$6.25
350P1/8$6.25
ATM Z480p 17 1/2ATM STRADDLE 31 1/4EXPIRES 11/24/23
MAR ’24 490 1/2450P7 1/4$362.50
 420P2 3/8$118.75
 400P1 1/8$56.25
370P3/8$18.75
350P1/8$6.25
ATM H490p 22 5/8ATM STRADDLE 45 3/4EXPIRES 2/23/24
JUL ’24 503 3/4450P11 1/8$556.25
420P5 1/8$256.25
400P3 $150
370P1 1/4$56.25
350P5/8$31.25
ATM 500p 31 1/8ATM STRADDLE 65 7/8EXPIRES 6/21/24
WHEAT CALLS
MONTHSTRIKEPRICECOST
DEC ’23 604 1/4650C15 1/4$762.50
700C7 3/8$368.75
 750C5$250
 800C3 3/8$168.75
900C1 3/4$87.50
ATM Z600c 30 3/4ATM STRADDLE 57 3/8EXPIRES 11/24/23
MAR ’24 629 1/2700C23 7/8$1193.75
800C11 3/8$568.75
900C6 1/2$325
1000C4 1/8$206.25
1100C2 3/4$137.50
ATM H630C 43 3/4ATM STRADDLE 88EXPIRES 2/23/24
JUL ’24 652 800C23 7/8$1193.75
900C14 1/8$706.25
1000C9$450
1100C6$300
1200C 4 1/4$212.50
ATM N650C 60 1/8ATM STRADDLE 118 1/4EXPIRES 6/21/24
WHEAT PUTS
MONTHSTRIKEPRICE COST
DEC ’23 604 1/4550P6 7/8$343.75
 525P3$150
 500P1 1/4$62.50
475P1/2$25
450P1/4$12.50
ATM Z600p 26 5/8ATM STRADDLE 57 3/8EXPIRES 11/24/23
MAR ’24 629 1/2550P10 3/8$518.75
500P3 1/8$156.25
450P7/8$43.75
400P1/8$6.25
350P1/8$6.25
ATM H630P 44 1/4ATM STRADDLE 88EXPIRES 2/23/24
 JUL ’24 652600P32$1600
550P14 3/8$718.75
500P5 5/8$281.25
450P2$100
400P5/8$31.25
ATM N650P 58 1/8ATM STRADDLE 118 1/4EXPIRES 6/21/24

Bill Allen
Senior Account Executive
Walsh Trading, Inc.
ballen@walshtrading.com
312.957.8079

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Bill Allen
Senior Account Executive
Walsh Trading, Inc.
ballen@walshtrading.com
312.957.8079


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