Jack Scoville
About The Author

Jack Scoville

Jack Scoville is an often quoted market analyst in the grain and soft commodities sectors. You will find his commentary throughout the Reuters, Wall Street Journal, Dow Jones, Bloomberg, and Barron's publications. Contact Mr. Scoville at (312) 264-4322

DJ U.S. April Grain, Soybean Stockpiles Estimates — Survey
CHICAGO–The following are analysts’ estimates in millions of bushels for U.S. ending stockpiles for 2016-17, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Tuesday at noon ET.
U.S. 2016-17 Stockpiles (millions)
Average Range USDA March USDA 2015-2016
Corn 2,345 2,270-2,484 2,320 1,737
Soybeans 447 425-471 435 197
Wheat 1,152 1,125-1,200 1,129 976
2016-17
Corn Soybeans Wheat
Advanced Market 2,300 445 1,150
Allendale 2,340 448 1,154
DC Analysis 2,345 450 1,154
Doane 2,320 435 1,154
EDFMan Capital 2,345 435 1,154
Farm Futures 2,300 425 1,169
Futures INTL 2,345 430 1,160
Hueber Report 2,350 440 1,125
INTL FCStone 2,484 471 1,184
North Star 2,300 470 1,140
Sid Love Consulting 2,370 450 1,149
MaxYield 2,380 445 1,200
Price Group 2,320 444 1,129
Prime Ag 2,295 460 1,129
RJ O’Brien 2,410 434 1,158
US Commodities 2,380 458 1,150
Vantage RM 2,355 435 1,129
Western Milling 2,345 465 1,170
Zaner Ag Hedge 2,270 445 1,134

DJ April World Grain, Soybean Stockpiles Estimates — Survey
CHICAGO–The following are analysts’ estimates in millions of metric tons for world grain and soybean ending stockpiles for 2016-17, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Tuesday at noon ET.
World 2016-17 Stockpiles (million metric tons)
Average Range USDA March USDA 2015-16
Corn 222.1 219.6-225.2 220.7 210.9
Soybeans 84.2 83.2-85.8 82.8 76.6
Wheat 250.6 249.0-253.0 249.9 240.3
2016-17
Corn Soybeans Wheat
Advanced Market 222.0 85.8 251.0
Allendale 221.0 83.9 250.2
Doane N/A 85.0 251.0
EDFMan Capital 222.0 83.5 250.5
Farm Futures 222.0 83.5 249.0
Futures INTL 223.0 84.5 253.0
Hueber Report 221.5 83.2 249.5
INTL FCStone 225.2 85.8 251.3
MaxYield 222.5 84.0 250.5
Northstar 222.0 85.3 251.0
Prime-Ag 222.0 84.0 250.0
US Commodities 222.1 84.0 250.9
Western Milling 222.0 83.5 250.0
Zaner Ag Hedge 219.6 83.4 250.1

DJ April Brazil, Argentina Corn, Soybean Production Estimates – Survey
CHICAGO–The following are analysts’ estimates in millions of metric tons for Brazil and Argentina corn and soybean production for 2016-17, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release its monthly estimates on Tuesday at noon ET.
Brazil Corn, Soybean Production (million metric tons)
Average Range USDA March USDA 2015-16
Corn 92.5 91.0-94.0 91.5 67.0
Soybeans 110.0 109.0-111.6 108.0 96.5
Corn Soybeans
Advanced Market 93.50 110.50
Allendale 91.50 109.00
DC Analysis 93.00 111.00
Doane 91.50 110.00
EDF Man Capital 93.00 110.00
Farm Futures 94.00 111.00
Futures INTL 91.50 111.00
Hueber Report 91.00 109.00
INTL FCStone 93.31 111.56
MaxYield 92.50 110.00
North Star 92.50 109.50
Price Group 91.50 109.00
Prime Ag 93.00 109.00
US Commodities 93.50 109.50
Western Milling 92.00 111.00
Zaner Ag Hedge 92.00 109.50
Argentina Corn, Soybean Production (million metric tons)
Average Range USDA March USDA 2015-16
Corn 37.8 37.2-39.0 37.5 29.0
Soybeans 56.0 55.0-57.0 55.5 56.8
Corn Soybeans
Advanced Market 39.00 56.50
Allendale 38.00 56.00
DC Analysis 37.50 56.00
Doane 37.50 56.00
EDF Man Capital 37.50 56.00
Farm Futures 38.00 56.50
Futures INTL 38.00 55.50
Hueber Report 37.20 56.00
INTL FCStone 37.50 56.00
MaxYield 38.50 56.00
North Star 38.00 55.50
Price Group 37.50 55.50
Prime Ag 38.00 56.00
US Commodities 37.50 56.00
Western Milling 38.00 57.00
Zaner Ag Hedge 37.50 55.00

WHEAT
General Comments: Wheat closed on a firm note to finish the .week. However, futures were a little lower for the week as a whole. Improved weather conditions in the Great Plains and forecasts for more precipitation this week forced the weaker overall price action. Futures are testing support areas on the charts and held on Friday US export demand has remained strong and should remain strong into the next harvest. There is talk now about some dry conditions in Europe and also in North Africa. The drier weather in North Africa could start to cause losses in yield potential. The cash markets have been slightly firmer. The Midwest should see chances for rain next week after a dry weekend and crop conditions should be good. World Wheat prices were stable, and US Wheat remains relatively cheap. Daily price trends suggest that both Chicago Wheat markets are in a range trade. Trends in Minneapolis are down.
Overnight News: The southern Great Plains should get some heavy precipitation over the middle of the week, otherwise mostly dry weather. Temperatures should be mostly above normal. Northern areas should get some precipitation over the middle of the week. Temperatures should be near normal. The Canadian Prairies should see mostly dry conditions. Temperatures will average near to above normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 419, 417, and 416 May, with resistance at 426, 431, and 435 May. Trends in Kansas City are mixed. Support is at 417, 415, and 412 May, with resistance at 427, 429, and 436 May. Trends in Minneapolis are down with objectives of 514 and 498 May. Support is at 516, 513, and 509 May, and resistance is at 522, 528, and 533 May.

COT — Supplemental Report – Option and Futures Combined Positions as of April 04, 2017
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
WHEAT-SRW – CHICAGO BOARD OF TRADE
CFTC Code #001602 Open Interest is 616,119
: Positions :
: 85,078 243,010 183,147 132,471 119,534 161,541 24,047 562,236 569,738: 53,882 46,381
: Changes from: March 28, 2017 (Change in open interest: 10,390) :
: -1,832 -1,197 9,050 4,728 6,725 -3,905 -5,138 8,040 9,440: 2,350 951
: Percent of Open Interest Represented by Each Category of Trader :
: 13.8 39.4 29.7 21.5 19.4 26.2 3.9 91.3 92.5: 8.7 7.5
: Total Traders: 467 Number of Traders in Each Category :
: 141 161 171 106 104 26 15 376 361:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of April 04, 2017
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
WHEAT-HRW – CHICAGO BOARD OF TRADE
CFTC Code #001612 Open Interest is 283,387
: Positions :
: 81,118 95,848 38,149 82,016 113,280 54,203 10,651 255,486 257,928: 27,901 25,459
: Changes from: March 28, 2017 (Change in open interest: 24,847) :
: 12,300 17,585 -488 8,798 2,247 1,454 4,085 22,065 23,429: 2,782 1,418
: Percent of Open Interest Represented by Each Category of Trader :
: 28.6 33.8 13.5 28.9 40.0 19.1 3.8 90.2 91.0: 9.8 9.0
: Total Traders: 270 Number of Traders in Each Category :
: 68 64 60 81 82 20 11 200 198:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 4, 2017
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
WHEAT-HRSpring – MINNEAPOLIS GRAIN EXCHANGE (CONTRACTS OF 5,000 BUSHELS) :
CFTC Code #001626 Open Interest is 70,331 :
: Positions :
: 35,857 41,249 2,565 425 2,689 4,520 2,157 830 4,139 4,499 7,208 :
: Changes from: March 28, 2017 :
: -902 -1,685 -281 100 189 19 -159 -422 133 -362 -339 :
: Percent of Open Interest Represented by Each Category of Trader :
: 51.0 58.6 3.6 0.6 3.8 6.4 3.1 1.2 5.9 6.4 10.2 :
: Number of Traders in Each Category Total Traders: 97 :
: 42 36 5 . 5 13 4 4 8 7 18 :
—————————————————————————————————————-

RICE
General Comments: Rice were higher and closed the week on a strong note. It looks like the market needs Rice and has turned to the futures market to gain some coverage. Speculators have been very short and are now being forced to cover part of these positions. Volumes traded have shown some improvement as the market is gaining some life. The charts show that the market hit most swing targets for the initial surge higher and are now consolidating. Chart trends remain up, and it could be that the market has finally found a lasting low. If so any correction lower should be short lived and small in distance. The lower than expected data from the Planting Intentions report has been the trigger for the move higher. Most of the planting and fieldwork has been reported from Louisiana and Texas until now. Mississippi and Arkansas might not get started in earnest until later this month.
Overnight News: The Delta should get showers and storms today and tomorrow, then crier weather. Temperatures should average near normal.
Chart Analysis: Trends are up with no objectives. Support is at 1014, 1005, and 1000 May, with resistance at 1026, 1032, and 1040 May.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 4, 2017
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
ROUGH RICE – CHICAGO BOARD OF TRADE (CONTRACTS OF 200,000 POUNDS) :
CFTC Code #039601 Open Interest is 11,113 :
: Positions :
: 4,780 4,160 282 826 0 1,103 2,037 0 1,270 1,605 810 :
: Changes from: March 28, 2017 :
: -560 466 -23 84 0 193 -780 0 -11 -97 2 :
: Percent of Open Interest Represented by Each Category of Trader :
: 43.0 37.4 2.5 7.4 0.0 9.9 18.3 0.0 11.4 14.4 7.3 :
: Number of Traders in Each Category Total Traders: 71 :
: 18 11 . . 0 4 8 0 20 9 10 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Futures closed slightly lower on what was called light volume fund selling. The market remains quiet and shows Little interest in developing much of a trend higher or lower at the moment. The market might stay quiet until the release of the monthly supply and demand updates from USDA tomorrow, but these reports are not expected to show much change for Corn. Planting in the south stalled last week due to rains and storms. More precipitation is possible this week to keep field activities slow. Export demand overall remains strong and should be strong for several more months as South America is not currently in a position to offer. Better market conditions for that part of the world to offer should appear by late Summer when the Winter crop in Brazil is made and ready for harvest. Traders are looking at good planting and initial development conditions in northern Brazil and anticipate a huge crop and big competition for sales.
Overnight News: Unknown destinations bought 101,600 tons of US Corn.
Chart Analysis: Trends in Corn are mixed. Support is at 358, 354, and 351 May, and resistance is at 367, 371, and 375 May. Trends in Oats are down with no objectives. Support is at 216, 212, and 210 May, and resistance is at 222, 225, and 228 May.

COT — Supplemental Report – Option and Futures Combined Positions as of April 04, 2017
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
CORN – CHICAGO BOARD OF TRADE
CFTC Code #002602 Open Interest is 1,854,437
: Positions :
: 235,103 373,613 447,265 538,561 703,216 401,649 106,306 1,622,579 1,630,400: 231,858 224,037
: Changes from: March 28, 2017 (Change in open interest: 40,322) :
: -6,398 -16,775 6,574 24,718 38,418 -699 18,539 24,195 46,756: 16,127 -6,434
: Percent of Open Interest Represented by Each Category of Trader :
: 12.7 20.1 24.1 29.0 37.9 21.7 5.7 87.5 87.9: 12.5 12.1
: Total Traders: 793 Number of Traders in Each Category :
: 191 166 238 327 320 27 18 684 633:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 4, 2017
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
OATS – CHICAGO BOARD OF TRADE (CONTRACTS OF 5,000 BUSHELS) :
CFTC Code #004603 Open Interest is 7,610 :
: Positions :
: 2,113 3,982 344 800 0 915 0 0 718 867 1,014 :
: Changes from: March 28, 2017 :
: 808 -209 28 600 0 -399 0 0 -77 -18 130 :
: Percent of Open Interest Represented by Each Category of Trader :
: 27.8 52.3 4.5 10.5 0.0 12.0 0.0 0.0 9.4 11.4 13.3 :
: Number of Traders in Each Category Total Traders: 37 :
: 8 11 . . 0 6 0 0 8 4 8 :
—————————————————————————————————————-

SOYBEANS AND PRODUCTS
General Comments: Soybeans and products closed mixed in quiet trading. Futures are trying to push through support areas on daily and weekly charts. The market remains under pressure longer term due to ideas of big production in South America. Many now expect Brazil to produce a crop above 111 million tons and for Argentina to produce a crop above 56 million tons. That is a lot of Soybeans that will be looking for demand in the world market. Chinese buying has been less, so it might be hard to hold prices. Total US export sales are now just above the forecast made by USDA in its monthly outlooks. USDA will be forced to increase export demand tomorrow due to the bigger than expected demand. Recent sales have been much reduced when compared to earlier in the season, but are probably at least as strong as many had expected for this time of year. Even so, there are plenty of Soybeans in the world that will need to be traded, so prices can generally remain under pressure without some kind of weather problem.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed. Support is at 937, 932, and 925 May, and resistance is at 948, 954, and 957 May. Trends in Soybean Meal are mixed. Support is at 307.00, 305.00, and 303.00 May, and resistance is at 311.00, 314.00, and 317.00 May. Trends in Soybean Oil are mixed to down with objectives of 3100 and 2880 May. Support is at 3110, 3090, and 3050 May, with resistance at 3200, 3220, and 3270 May.

COT — Supplemental Report – Option and Futures Combined Positions as of April 04, 2017
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEANS – CHICAGO BOARD OF TRADE
CFTC Code #005602 Open Interest is 972,367
: Positions :
: 106,513 133,081 279,527 379,132 393,173 146,977 29,600 912,148 835,380: 60,219 136,987
: Changes from: March 28, 2017 (Change in open interest: 71,518) :
: -20,739 15,895 50,233 43,811 497 -6,280 4,819 67,024 71,444: 4,494 74
: Percent of Open Interest Represented by Each Category of Trader :
: 11.0 13.7 28.7 39.0 40.4 15.1 3.0 93.8 85.9: 6.2 14.1
: Total Traders: 686 Number of Traders in Each Category :
: 176 201 250 199 230 27 15 537 581:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of April 04, 2017
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEAN OIL – CHICAGO BOARD OF TRADE
CFTC Code #007601 Open Interest is 470,552
: Positions :
: 63,211 118,328 105,469 166,116 198,807 99,732 14,093 434,528 436,697: 36,024 33,855
: Changes from: March 28, 2017 (Change in open interest: 28,580) :
: -3,071 13,869 8,629 23,901 5,805 -3,805 -1,549 25,654 26,754: 2,925 1,825
: Percent of Open Interest Represented by Each Category of Trader :
: 13.4 25.1 22.4 35.3 42.2 21.2 3.0 92.3 92.8: 7.7 7.2
: Total Traders: 333 Number of Traders in Each Category :
: 71 111 112 83 78 21 12 254 260:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of April 04, 2017
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEAN MEAL – CHICAGO BOARD OF TRADE
CFTC Code #026603 Open Interest is 420,501
: Positions :
: 71,342 60,202 74,841 120,178 234,389 107,700 10,494 374,061 379,925: 46,440 40,576
: Changes from: March 28, 2017 (Change in open interest: 13,227) :
: -450 10,311 4,303 7,567 -3,345 1,137 -981 12,558 10,287: 669 2,940
: Percent of Open Interest Represented by Each Category of Trader :
: 17.0 14.3 17.8 28.6 55.7 25.6 2.5 89.0 90.4: 11.0 9.6
: Total Traders: 287 Number of Traders in Each Category :
: 69 73 86 92 98 20 10 230 225:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Canola closed higher. A relatively tight cash market kept Canola stronger as did Canadian Dollar weakness. Farmers are unwilling sellers, but demand from crusher and exporters as weakened as well. The market is paying attention to competing vegetable oils prices as there is little to talk about in the internal market. Availability of South America Soybeans and products is increasing and that could hurt Canola prices longer term. Palm Oil was lower in response to the bearish MPOB data. Production was much bigger than expected and ending stocks were above trade expectations. Futures made new lows for the move and some more selling is possible this week.
Overnight News: ITS said that Malaysian Palm Oil exports ar 307,249 tons so far this month, from 254,141 tons last month. SGS said that exports are now 312,489 tons, from 250,481 tons last month.
Chart Analysis: Trends in Canola are mixed. Support is at 482.00, 479.00, and 474.00 May, with resistance at 491.00, 493.00, and 497.00 May. Trends in Palm Oil are mixed to down with no objectives. Support is at 2630, 2600, and 2570 June, with resistance at 2700, 2740, and 2810 June.

DJ Canadian Grain Handling Summary – Apr 7
Winnipeg–The following are Canadian grain handling summary statistics
for the week ended April 2, 2017. Figures in thousands of metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This week 2952.1 757.0 189.1 287.3 66.5 1318.2 369.0 158.1 6529.5
Week ago 3061.3 746.4 195.9 294.8 67.5 1469.9 331.1 189.5 6834.0
Year ago 2472.7 711.6 234.6 287.4 70.7 1479.8 276.5 192.8 5985.8
PRODUCER DELIVERIES
This week 340.6 110.2 16.8 47.1 7.2 318.9 92.5 8.6 989.5
Week ago 417.2 77.5 28.2 80.3 5.5 353.4 113.7 7.9 1134.6
To Date 12019.6 3377.6 1439.0 1779.6 284.6 13918.5 3356.6 277.5 39825.4
Year ago 13482.6 3607.8 1356.5 1774.1 407.3 12410.7 2256.8 255.8 38328.4
TERMINAL RECEIPTS
This week 250.4 63.7 6.0 21.0 1.7 254.0 113.9 8.4 766.0
Week ago 210.7 99.4 5.5 13.5 0.4 280.2 27.9 27.9 743.3
To Date 11292.6 3548.7 141.1 769.1 203.8 8098.3 2571.3 565.6 32462.1
Year ago 11640.7 4420.2 155.5 648.6 220.2 7432.6 1798.1 477.9 31527.3
EXPORTS
This week 346.5 88.0 20.9 28.8 2.0 334.7 117.7 N/A 981.6
Week ago 291.7 96.8 20.6 56.4 4.7 169.6 84.2 68.5 823.1
To date 9033.3 2806.6 894.3 765.7 225.3 7355.6 2644.6 372.9 28324.5
Year ago 11118.2 3277.8 738.6 738.7 246.2 6700.2 1936.0 257.3 28636.0
DOMESTIC DISAPPEARANCE
This week 56.8 6.2 3.7 23.4 1.2 183.0 2.9 11.8 321.6
Week ago 53.1 12.2 4.2 24.4 0.8 210.6 4.2 14.0 3351.9
To date 2001.5 227.9 173.5 883.5 36.8 6294.1 112.1 334.2 10977.7
Year ago 2291.2 289.2 269.3 891.0 50.9 5782.0 128.0 304.5 10918.4
*Totals include data from other crops not shown including rye, soybeans,
canary seed, mustard seed, beans, lentils, and chickpeas.
Source: Commodity News Service Canada (cnscanada@shaw.ca, or 204-414-9084)

DJ Canadian Oilseed Processors Association Weekly Crush – Apr 7
WINNIPEG–The Canadian Oilseed Processors Association reported
the Canadian oilseed crush for the week ended April 7, 2017, as follows:
Figures are in metric tons. R-denotes revision.
Cumulative
Week 2016/17 2015/16 2016/17 2015/16
Ended Canola Sybns
Apr 05 166,807 6,356,589 5,603,709 47,088 1,309,323 1,401,345
Mar 29 185,366 6,189,782 5,460,413 30,611 1,262,235 1,352,105
Mar 22 208,268 6,004,416 5,299,101 25,053 1,231,624 1,307,579
Mar 15 180,860 5,796,148 5,126,487 35,312 1,206,571 1,284,162
Mar 08 173,363 5,615,622 4,938,406 45,410 1,171,259 1,259,218
Crush Capacity Utilization
This Week Year-to-Date Year Ago
Canola 78.0% 90.1% 83.6%
Soybeans 71.6% 60.3% 64.5%
Source: Commodity News Service Canada (cnscanada@shaw.ca, or 204-414-
9084)

MPOB Report:
Observation period : Mar
Frequency : Monthly
Release date : Monday, 10 Apr
Forecast as follows:
Production – 1.39 mil tonnes, Up 10.4%
Exports – 1.18 mil tonnes, Up 7.0%
Ending Stocks – 1.46 mil tonnes, Up 0.1%
Actual as follows:
Production – 1.46 mil tonnes, Up 16.3%
Exports – 1.27 mil tonnes, Up 14.3%
Ending Stocks – 1.55 mil tonnes, Up 6.5%
Prior reading as follows:
Production – 1.26 mil tonnes, Down 1.4%
Exports – 1.11 mil tonnes, Down 14.0%
Ending Stocks – 1.46 mil tonnes, Down 5.3%

Midwest Weather Forecast: Precipitation today and tomorrow and again about Thursday. Temperatures will average near normal.

FOB Gulf Basis Levels-Cents per Bushel
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
April 33 May 106 May 52 May 20-Jul minus 4 May
May 36 July 52 July 22-Jul
June 30-Jul 40 July 18-Jul
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Paraguay
April plus 26 May minus 30 May
May plus 26 May minus 30 May
June plus 29 July minus 26 July

DJ ICE Canada Cash Grain Close – Apr 7
WINNIPEG–The following are the closing cash grain prices from
ICE Futures Canada.
Values are based on the commodity being delivered at Thunder
Bay, Ontario, unless otherwise noted.
Source: ICE Futures Canada
Price Change
CANOLA
*Par Region 485.70 up 1.40
Basis: Thunder Bay
1 Can 504.10 up 3.40
2 Can 491.10 up 3.40
Basis: Vancouver
1 Can 523.10 up 3.40
2 Can 510.10 up 3.40
FEED WHEAT
Lethbridge 173.00 unchanged
Can Feed 168.00 unchanged
WESTERN BARLEY
Lethbridge 160.00 unchanged
All prices in Canadian dollars per metric ton.
*Quote for previous day
Source: Commodity News Service Canada (cnscanada@shaw.ca, or
204-414-9084)

DJ Malaysian PM Cash Market Prices for Palm Oil – April 10
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Monday, supplied by commodity broker Matthes & Porton Bhd.
Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgit a ton. Palm kernel oil prices are in ringgit a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports
Offer Change Bid Change Traded
Apr 697.50 -02.50 Unquoted – –
May 677.50 -02.50 Unquoted – –
Jun 657.50 -02.50 Unquoted – –
Jul/Aug/Sep 607.50 -02.50 Unquoted – –
Oct/Nov/Dec 595.00 00.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Apr 697.50 -02.50 Unquoted – –
May 677.50 -02.50 Unquoted – –
Jun 657.50 -02.50 Unquoted – –
Jul/Aug/Sep 607.50 -02.50 Unquoted – –
Oct/Nov/Dec 595.00 00.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Apr 635.00 -10.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Apr 657.50 -02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Apr 2,900 -30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Apr 250.00 -16.00 Unquoted – –
($1=MYR 4.4325)

DJ China Dalian Grain Futures Closing Prices, Volume – Apr 10
Soybean No. 1
Turnover: 434,230 lots, or 16.56 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-17 3,710 3,788 3,710 3,770 3,716 3,749 33 45,158 76,748
Jul-17 3,838 3,858 3,838 3,858 3,789 3,851 62 6 58
Sep-17 3,775 3,866 3,766 3,847 3,769 3,821 52 383,392 240,108
Nov-17 3,860 3,860 3,860 3,860 3,827 3,860 33 6 26
Jan-18 3,809 3,913 3,809 3,891 3,809 3,869 60 5,402 19,128
Mar-18 – – – 3,939 3,878 3,939 61 0 10
May-18 3,926 3,999 3,922 3,984 3,920 3,956 36 258 738
Jul-18 – – – 4,001 3,965 4,001 36 0 8
Sep-18 3,978 4,032 3,978 4,030 3,965 4,014 49 8 10
Corn
Turnover: 1,402,366 lots, or 23.46 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-17 1,625 1,635 1,615 1,629 1,627 1,625 -2 110,424 426,096
Jul-17 1,627 1,639 1,621 1,635 1,634 1,632 -2 100 1,352
Sep-17 1,672 1,684 1,660 1,675 1,676 1,673 -3 1,174,012 1,972,180
Nov-17 1,692 1,705 1,691 1,697 1,698 1,693 -5 266 2,032
Jan-18 1,713 1,725 1,707 1,720 1,721 1,716 -5 116,826 530,742
Mar-18 1,723 1,723 1,720 1,723 1,733 1,721 -12 738 960
Soymeal
Turnover: 1,641,140 lots, or 45.21 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-17 2,762 2,798 2,761 2,797 2,768 2,778 10 141,744 474,912
Jul-17 2,761 2,794 2,754 2,777 2,754 2,771 17 246 1,306
Aug-17 2,762 2,792 2,762 2,792 2,752 2,786 34 26 560
Sep-17 2,735 2,774 2,732 2,762 2,737 2,751 14 1,442,414 2,375,378
Nov-17 2,766 2,800 2,766 2,783 2,785 2,778 -7 10 56
Dec-17 2,809 2,824 2,809 2,824 2,804 2,818 14 22 376
Jan-18 2,776 2,810 2,776 2,798 2,784 2,794 10 56,676 326,120
Mar-18 2,790 2,790 2,790 2,790 2,788 2,790 2 2 14
Palm Oil
Turnover: 1,272,832 lots, or 68.16 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Apr-17 – – – 5,810 5,810 5,810 0 0 0
May-17 5,750 5,816 5,632 5,636 5,772 5,736 -36 65,724 112,440
Jun-17 5,716 5,716 5,716 5,716 5,716 5,716 0 2 12
Jul-17 – – – 5,558 5,558 5,558 0 0 4
Aug-17 – – – 5,422 5,422 5,422 0 0 8
Sep-17 5,358 5,448 5,220 5,226 5,368 5,338 -30 1,136,852 621,774
Oct-17 5,436 5,436 5,386 5,386 5,384 5,410 26 4 10
Nov-17 5,248 5,274 5,178 5,252 5,404 5,246 -158 14 132
Dec-17 – – – 5,236 5,392 5,236 -156 0 4
Jan-18 5,260 5,356 5,156 5,160 5,280 5,250 -30 70,236 124,920
Feb-18 – – – 5,372 5,402 5,372 -30 0 6
Mar-18 – – – 5,334 5,364 5,334 -30 0 0
Soybean Oil
Turnover: 929,896 lots, or 55.61 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-17 5,868 5,944 5,858 5,864 5,894 5,894 0 137,520 192,394
Jul-17 5,824 5,928 5,824 5,928 5,966 5,876 -90 8 4
Aug-17 5,986 6,102 5,986 6,002 6,032 6,036 4 10 24
Sep-17 5,946 6,044 5,940 5,968 5,972 5,990 18 765,434 868,732
Nov-17 – – – 6,018 5,996 6,018 22 0 8
Dec-17 – – – 6,238 6,220 6,238 18 0 10
Jan-18 6,110 6,202 5,982 6,130 6,130 6,150 20 26,924 96,250
Mar-18 – – – 6,160 6,160 6,160 0 0 2
Notes:
1) Unit is Chinese yuan a metric ton;
2) Ch. is day’s settlement minus previous settlement;
3) Volume and open interest are in lots;
4) One lot is equivalent to 10 metric tons.
Questions? Ask Jack Scoville today at 312-264-4322

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The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or futures. The Price Futures Group, its officers, directors, employees, and brokers may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. Reproduction and/or distribution of any portion of this report are strictly prohibited without the written permission of the author. Trading in futures contracts, options on futures contracts, and forward contracts is not suitable for all investors and involves substantial risks. ©2017

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