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

WHEAT
General Comments: US markets were higher last week, and trends are up on the weekly charts. The harvest is moving to completion in Texas and Oklahoma, and reports continue to be mixed. Results indicate that the protein levels are not strong in these areas. Yields are lower as well. The Kansas crop harvest is very active. Yield reports were mixed, but protein levels were considered satisfactory. Minneapolis has been supported by bad growing conditions in Spring Wheat areas of the northern Great Plains and the Canadian Prairies. Provincial reports from Canada suggest improving conditions there, although it remains dry in western growing areas. It is dry in the Dakotas and the southern Prairies, while other parts of the northern Prairies have seen too much rain. The Spring Wheat conditions and ratings are creating concern about the potential for a smaller crop even as demand expectations increase due to the lower Winter Wheat quality and yields. The Midwest has seen plenty of rain, so a lower quality crop is expected, although yields in general could be strong. Lower supply expectations will help support Winter Wheat futures but the lower quality will hurt the overall demand profile. The export market will remain difficult as there is still a lot of Wheat around. Russia is cutting back production expectations a bit and there are questions about Ukraine and Europe Wheat production, but Australia has a very good crop and Argentina is talking about a very good crop as well. Overall, though, the theme is that world production will be less than previous expectations. The weekly charts show the potential for Winter Wheat prices to move significantly higher.
Overnight News: The southern Great Plains should get dry weather. Temperatures should be near to above normal. Northern areas should get mostly dry weather. Temperatures should be near to above normal. The Canadian Prairies should see chances for showers over the middle of the week. Temperatures will average near to below normal.
Chart Analysis: Trends in Chicago are up with objectives of 474, 477, and 500 July. Support is at 461, 456, and 454 July, with resistance at 471, 477, and 481 July. Trends in Kansas City are up with objectives of 481 and 493 July. Support is at 460, 451, and 448 July, with resistance at 478, 484, and 490 July. Trends in Minneapolis are up with objectives of 650 July. Support is at 633, 623, and 618 July, and resistance is at 646, 652, and 658 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 13, 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 556,853
: Positions :
: 85,239 207,553 179,931 95,406 102,716 150,203 23,760 510,778 513,959: 46,075 42,894
: Changes from: June 6, 2017 (Change in open interest: -19,303) :
: -1,056 -18,474 3,822 -12,343 1,428 -6,632 -8,441 -16,210 -21,664: -3,093 2,361
: Percent of Open Interest Represented by Each Category of Trader :
: 15.3 37.3 32.3 17.1 18.4 27.0 4.3 91.7 92.3: 8.3 7.7
: Total Traders: 447 Number of Traders in Each Category :
: 121 160 169 101 99 30 17 359 353:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 13, 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 305,985
: Positions :
: 87,314 70,182 63,324 69,560 136,859 59,344 8,965 279,542 279,331: 26,443 26,655
: Changes from: June 6, 2017 (Change in open interest: 522) :
: 3,952 -15,061 5,499 -6,388 11,827 -1,405 -3,243 1,658 -978: -1,136 1,500
: Percent of Open Interest Represented by Each Category of Trader :
: 28.5 22.9 20.7 22.7 44.7 19.4 2.9 91.4 91.3: 8.6 8.7
: Total Traders: 264 Number of Traders in Each Category :
: 71 55 67 81 88 20 11 204 197:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 13, 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 86,838 :
: Positions :
: 38,885 55,255 3,034 0 1,881 11,780 0 673 2,735 7,127 7,605 :
: Changes from: June 6, 2017 :
: 2,785 4,627 -380 0 -548 2,294 0 144 -112 1,465 2,089 :
: Percent of Open Interest Represented by Each Category of Trader :
: 44.8 63.6 3.5 0.0 2.2 13.6 0.0 0.8 3.1 8.2 8.8 :
: Number of Traders in Each Category Total Traders: 104 :
: 46 41 4 0 5 20 0 4 11 10 17 :
—————————————————————————————————————-

RICE
General Comments: Rice closed higher again last week after holding support areas on the charts. The Price action on Thursday was very strong after the collapse on Wednesday and implied that much higher prices are coming soon. The potential for smaller US crops this year continues to support the move higher. The weather in most growing areas has improved as it remains warmer and drier, but many parts of the Delta and along the Gulf Coast remain too wet and this weather has affected production potential. Only Texas is in good to very good condition. California has good looking crops, but the crops were planted late so top yields are not likely. The Delta from Louisiana to Arkansas and Missouri remains the big problem area, and this is where the big production normally is. The emergence remains slightly behind the average pace. Crops are in flood in the south and going into flood in the north. The crop condition improved on a week to week bases, but remains slightly behind the conditions of last year. The weekly charts show that the rally could move higher over time, with final targets near 1275 basis the nearest futures contract possible.
Overnight News: The Delta should get a few showers today, then dry weather. Temperatures should average near to above normal.
Chart Analysis: Trends are up with objectives of 1153, 1161, aned 1166 July. Support is at 1136, 1126, and 1113 July, with resistance at 1150, 1166, and 1185 July.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 13, 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 10,831 :
: Positions :
: 4,095 5,405 234 517 0 2,074 631 0 848 1,310 1,319 :
: Changes from: June 6, 2017 :
: 122 503 0 30 0 209 12 0 15 2 111 :
: Percent of Open Interest Represented by Each Category of Trader :
: 37.8 49.9 2.2 4.8 0.0 19.1 5.8 0.0 7.8 12.1 12.2 :
: Number of Traders in Each Category Total Traders: 71 :
: 20 14 . . 0 8 . 0 18 13 16 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn was lower and Oats were higher last week. Oats moved to new highs on the daily charts. Weekly charts suggest that this particular market has some major rally potential. Trends are up on the daily and weekly charts for Corn, and the weekly charts imply that rallies to 403 and 430 bases the nearby contract are possible. The Corn Belt saw some very hot temperatures over the first part of last week, then some very timely rains. Crops in some areas are still showing signs of stress. There are already reports of leaves rolling in many parts of the Midwest as the roots have not developed enough to tap into subsoil moisture. The areas that got rain in the last week now have better conditions and the stress should be less. Crop progress remains generally good, as emergence is reported everywhere. Ideas are already that the top edge of yield potential is gone, although the potential for very good production is still very much there. But, the weather must stay good and so far the weather has been variable at best. Variable and potentially stressful conditions are expected to return with hotter temperatures by the end of this month and into July. The trade is concerned about the potential for more hot and dry weather later this Summer due to the much above normal temperatures seen this early in the season, and these fears will help keep buying interest in the market for a while or until July when reproduction will be done. Most analysts have cut yield projections already and now estimate yields at about 157 to 168 bushels per acre. Initial projects had been above 170 bushels per acre in line with USDA trend line yield calculations.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 380, 377, and 375 July, and resistance is at 384, 385, and 389 July. Trends in Oats are up with objectives of 274, 279, and 298 July. Support is at 265, 255, and 249 July, and resistance is at 263, 276, and 279 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 13, 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 1,923,781
: Positions :
: 261,237 326,378 530,134 472,249 725,079 397,914 116,273 1,661,534 1,697,864: 262,247 225,917
: Changes from: June 6, 2017 (Change in open interest: 60,563) :
: 6,766 -99,549 71,421 -25,740 77,060 -1,425 -4,821 51,022 44,112: 9,541 16,452
: Percent of Open Interest Represented by Each Category of Trader :
: 13.6 17.0 27.6 24.5 37.7 20.7 6.0 86.4 88.3: 13.6 11.7
: Total Traders: 818 Number of Traders in Each Category :
: 224 168 255 325 317 29 19 714 649:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 13, 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 8,090 :
: Positions :
: 1,841 5,244 298 800 0 1,253 0 0 713 143 918 :
: Changes from: June 6, 2017 :
: 14 449 -2 0 0 -39 0 0 45 -175 -29 :
: Percent of Open Interest Represented by Each Category of Trader :
: 22.8 64.8 3.7 9.9 0.0 15.5 0.0 0.0 8.8 1.8 11.4 :
: Number of Traders in Each Category Total Traders: 38 :
: 6 10 . . 0 8 0 0 9 6 7 :
—————————————————————————————————————-

SOYBEANS AND PRODUCTS
General Comments: Soybeans were higher and Soybean Meal was lower last week. These markets remain the most negative markets at CBOT due to very high production expectations here couple with high production in South America. South American producers remain reluctant sellers at current prices, and American farmers have been able to get planting done under relatively better conditions than those seen for Corn. Soybeans are in the ground now and most have emerged. The weather has been very warm, but showers were seen late last week and over the weekend and cooler temperatures are expected this week. Crop ratings are not as high as expected, but should show some improvement in the data that will be released on Monday afternoon. Speculators appear are still the best sellers right now as they add to short positions. Overall the trade remains bearish on the price potential for the entire complex, but is keeping a close eye on the US Dollar that acts weak and the Midwest weather that might turn hot and dry again by the end of the month. Demand for US Soybeans remains strong, with solid export sales on a weekly basis that run above trade and USDA expectations and a stronger than expected crush rate in the domestic market as reported by NOPA last week. The weekly charts still show overall down trends, but daily charts are showing the potential for a short term rally from current levels.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed to up with objectives of 957, 976, and 990 July. Support is at 932, 926, and 920 July, and resistance is at 945, 949, and 953 July. Trends in Soybean Meal are mixed. Support is at 297.00, 295.00, and 292.00 July, and resistance is at 306.00, 310.00, and 312.00 July. Trends in Soybean Oil are up with objectives of 3350, 3360, and 3550 July. Support is at 3220, 3180, and 3150 July, with resistance at 3340, 3420, and 3440 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 13, 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 903,351
: Positions :
: 88,870 194,714 254,271 369,554 300,726 128,699 42,019 841,394 791,730: 61,957 111,621
: Changes from: June 6, 2017 (Change in open interest: -1,582) :
: 2,434 -16,041 9,647 -9,437 6,677 -1,809 1,756 836 2,039: -2,418 -3,621
: Percent of Open Interest Represented by Each Category of Trader :
: 9.8 21.6 28.1 40.9 33.3 14.2 4.7 93.1 87.6: 6.9 12.4
: Total Traders: 639 Number of Traders in Each Category :
: 162 190 244 178 204 26 19 502 545:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 13, 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 463,085
: Positions :
: 83,619 113,432 112,372 143,817 196,827 89,766 6,630 429,574 429,261: 33,511 33,824
: Changes from: June 6, 2017 (Change in open interest: -38,250) :
: -2,366 -16,358 -12,159 -15,278 680 -8,092 -7,290 -37,895 -35,127: -355 -3,123
: Percent of Open Interest Represented by Each Category of Trader :
: 18.1 24.5 24.3 31.1 42.5 19.4 1.4 92.8 92.7: 7.2 7.3
: Total Traders: 344 Number of Traders in Each Category :
: 93 91 133 83 78 22 13 274 274:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 13, 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 454,939
: Positions :
: 61,237 101,361 98,244 159,172 189,637 88,513 23,606 407,166 412,849: 47,773 42,090
: Changes from: June 6, 2017 (Change in open interest: -1,626) :
: 2,469 -3,359 5,010 1,404 3,926 -10,332 -7,046 -1,449 -1,468: -177 -157
: Percent of Open Interest Represented by Each Category of Trader :
: 13.5 22.3 21.6 35.0 41.7 19.5 5.2 89.5 90.7: 10.5 9.3
: Total Traders: 307 Number of Traders in Each Category :
: 71 73 96 104 93 23 15 257 241:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Canola was higher on price action in Chicago. Some forecasts for beneficial rains in the western Prairies was negative for prices. Eastern areas are in relatively good condition at this time. Even so, planting is behind normal in Alberta and Saskatchewan. Reports of tight supplies and limited offers in the cash market provided the best reasons to buy. Palm Oil was higher on buying related to currency considerations. Stronger world vegetable oil prices also supported Palm Oil.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 508.00, 506.00, and 500.00 July, with resistance at 517.00, 520.00, and 522.00 July. Trends in Palm Oil are up with objectives of 2530 and 2600 September. Support is at 2460, 2420, and 2390 September, with resistance at 2530, 2570, and 2590 September.

DJ Canadian Oilseed Processors Association Weekly Crush – Jun 16
WINNIPEG–The Canadian Oilseed Processors
Association reported the Canadian oilseed crush for the week ended June
14, as follows:
Figures are in metric tons. R-denotes revision.
Cumulative
Week Canola 2016/17 2015/16 Soybeans 2016/17 2015/16
Ended
Jun 14 173,306 8,006,587 7,131,123 44,239 1,656,365 1,729,373
Jun 07 159,373 7,832,023 6,972,670 26,276 1,612,431 1,688,764
May 31 139,069 7,678,006 6,798,797 43,793 1,587,692 1,658,643
May 24 159,098 7,538,937 6,658,810 27,822 1,543,899 1,643,955
May 17 149,800 7,379,839 6,479,325 44,287 1,516,077 1,618,625
Crush Capacity Utilization
This week 2016/17 2015/16
Canola 81.1% 88.5% 82.6%
Soybeans 67.2% 59.5% 62.1%
Source: Commodity News Service Canada (cnscanada@shaw.ca, or 204-414-9084)

DJ Canadian Grain Handling Summary – Jun 16
Winnipeg–The following are Canadian grain handling summary statistics
for the week ended June 11, 2017. Figures in thousands of metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This week 2615.6 659.0 146.7 280.9 83.6 850.6 142.6 175.9 5263.1
Week ago 2469.0 562.8 147.2 26.03 82.8 815.1 134.4 190.8 4956.9
Year ago 2031.0 566.2 234.2 165.4 96.7 1280.4 125.5 221.5 4984.8
PRODUCER DELIVERIES
This week 525.2 122.6 25.9 76.6 6.4 372.4 41.4 9.9 1220.6
Week ago 490.5 150.9 21.6 62.9 5.4 379.2 39.7 9.0 1209.9
To Date 15518.0 4393.9 1673.2 2311.3 347.4 17292.0 3812.9 364.4 49551.2
Year ago 16455.7 4084.3 1599.4 2155.2 508.2 15779.6 2490.0 338.1 46358.7
TERMINAL RECEIPTS
This week 305.4 180.5 1.2 21.5 3.5 167.4 20.7 39.3 801.6
Week ago 279.7 61.4 N/A 15.7 2.9 196.8 13.0 62.4 655.5
To Date 15093.6 4999.8 152.5 1043.6 235.6 10485.3 3075.3 888.9 41794.8
Year ago 15318.1 5162.8 236.2 818.5 296.0 9789.0 2116.4 869.2 39617.5
EXPORTS
This week 333.7 118.6 9.8 1.9 1.0 164.1 0.6 19.5 659.4
Week ago 244.1 28.1 12.3 4.8 0.3 205.9 32.9 85.8 654.7
To date 12334.7 3722.4 1044.6 1028.3 256.6 9640.0 3234.9 696.8 36506.1
Year ago 14083.2 3953.7 927.9 919.9 288.2 8879.4 2260.8 598.7 35708.3
DOMESTIC DISAPPEARANCE
This week 41.9 6.2 7.2 22.1 1.1 152.2 3.2 31.3 285.8
Week ago 53.6 6.1 6.6 23.8 0.9 129.3 10.4 13.9 283.8
To date 2542.3 277.5 230.0 1134.9 45.3 7926.2 151.9 460.3 13965.5
Year ago 2897.5 355.1 341.8 1212.5 62.5 7595.0 162.1 406.6 14141.7
*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)

Midwest Weather Forecast: Showers and storms today and tomorrow then about Friday. Temperatures should average near to above normal.

FOB Gulf Basis Levels-Cents per Bushel
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
June 29-Jul 190 July 43 Jul 28-Jul July Price
July 30-Jul 45 Jul 37 Jul
August 40 Sep 41 Jul
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Paraguay
July 65 Jul minus 30 Jul
August 65 Aug minus 19 Aug 25-Sep
September minus 19 Aug 25-Sep
All basis levels are positive unless noted as negative

DJ ICE Canada Cash Grain Close – Jun 16
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 514.91 up 3.40
Basis: Thunder Bay
1 Can 549.10 up 1.10
2 Can 536.10 up 1.10
Basis: Vancouver
1 Can 561.10 up 1.10
2 Can 548.10 up 1.10
FEED WHEAT
Lethbridge 190.00 unchanged
Can Feed 178.00 unchanged
WESTERN BARLEY
Lethbridge 177.00 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 – June 19
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
Jul 672.50 -17.50 Unquoted – –
Aug 640.00 – Unquoted – –
Sep 620.00 – Unquoted – –
Oct/Nov/Dec 610.00 +07.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports

Jul 677.50 -17.50 Unquoted – –
Aug 645.00 – Unquoted – –
Sep 625.00 – Unquoted – –
Oct/Nov/Dec 615.00 +07.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jul 622.50 – Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jul 622.50 – Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jul 2,700 – Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jul 263.00 – Unquoted – –
($1=MYR 4.2670)

DJ China Dalian Grain Futures Closing Prices, Volume – Jun 19
Soybean No. 1
Turnover: 279,062 lots, or 10.92 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-17 – – – 3,797 3,797 3,797 0 0 68
Sep-17 3,933 3,948 3,878 3,888 3,948 3,911 -37 252,282 198,054
Nov-17 3,964 3,964 3,964 3,964 3,985 3,964 -21 2 14
Jan-18 3,909 3,932 3,893 3,896 3,924 3,907 -17 26,482 52,586
Mar-18 3,937 3,937 3,937 3,937 3,941 3,937 -4 4 10
May-18 3,936 3,960 3,929 3,929 3,952 3,941 -11 290 2,042
Jul-18 – – – 3,946 3,946 3,946 0 0 0
Sep-18 3,948 3,948 3,948 3,948 3,976 3,948 -28 2 50
Nov-18 – – – 3,853 3,880 3,853 -27 0 0
Corn
Turnover: 1,081,460 lots, or 18.18 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-17 1,620 1,629 1,618 1,618 1,625 1,622 -3 20 722
Sep-17 1,672 1,682 1,659 1,660 1,678 1,669 -9 872,750 1,607,842
Nov-17 1,696 1,703 1,683 1,687 1,705 1,693 -12 108 1,438
Jan-18 1,730 1,740 1,719 1,722 1,741 1,730 -11 199,094 721,200
Mar-18 1,741 1,745 1,729 1,729 1,745 1,732 -13 86 1,416
May-18 1,783 1,787 1,769 1,769 1,785 1,778 -7 9,402 29,578
Soymeal
Turnover: 1,770,552 lots, or 47.94 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-17 2,617 2,661 2,566 2,618 2,588 2,619 31 208 1,214
Aug-17 2,665 2,721 2,655 2,683 2,661 2,672 11 70 700
Sep-17 2,692 2,731 2,677 2,709 2,680 2,704 24 1,558,108 2,484,560
Nov-17 2,701 2,750 2,701 2,715 2,697 2,714 17 22 260
Dec-17 2,717 2,724 2,710 2,724 2,698 2,717 19 12 448
Jan-18 2,721 2,762 2,711 2,743 2,717 2,735 18 185,156 690,760
Mar-18 2,702 2,728 2,701 2,714 2,712 2,711 -1 36 300
May-18 2,681 2,714 2,668 2,698 2,674 2,687 13 26,940 84,746
Palm Oil
Turnover: 573,524 lots, or 30.58 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-17 – – – 5,588 5,588 5,588 0 0 2
Aug-17 – – – 5,422 5,412 5,422 10 0 6
Sep-17 5,332 5,412 5,312 5,380 5,308 5,366 58 478,752 505,782
Oct-17 – – – 5,330 5,326 5,330 4 0 6
Nov-17 5,220 5,240 5,220 5,240 5,148 5,230 82 12 118
Dec-17 – – – 5,192 5,156 5,192 36 0 2
Jan-18 5,120 5,188 5,092 5,170 5,092 5,150 58 92,424 348,748
Feb-18 – – – 5,200 5,142 5,200 58 0 6
Mar-18 – – – 5,126 5,070 5,126 56 0 4
Apr-18 5,252 5,376 5,200 5,352 5,286 5,292 6 18 14
May-18 5,258 5,324 5,228 5,296 5,236 5,294 58 2,318 13,448
Jun-18 – – – 5,148 5,148 5,148 0 0 0
Soybean Oil
Turnover: 439,686 lots, or 26.13 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-17 – – – 5,710 5,710 5,710 0 0 12
Aug-17 5,860 5,860 5,854 5,854 5,788 5,856 68 6 50
Sep-17 5,896 5,944 5,874 5,914 5,886 5,914 28 365,674 794,648
Nov-17 – – – 5,954 5,912 5,954 42 0 18
Dec-17 – – – 6,034 6,034 6,034 0 0 8
Jan-18 6,058 6,106 6,040 6,080 6,052 6,080 28 72,960 270,828
Mar-18 – – – 6,054 6,028 6,054 26 0 6
May-18 6,154 6,212 6,138 6,176 6,128 6,182 54 1,046 4,626
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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Past results are not necessarily indicative of future results. Investing in futures can involve substantial risk of loss & is not suitable for everyone. Trading foreign exchange also involves a high degree of risk. The leverage created by trading on margin can work against you as well as for you, and losses can exceed your entire investment. Before opening an account and trading, you should seek advice from your advisors as appropriate to ensure that you understand the risks and can withstand the losses.

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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