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 CBOT Delivery Intentions: Totals – Aug 8
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL August Aug. 09, 2017 176 Aug 04, 2017
SOYBEAN OIL August Aug. 09, 2017 70 Aug 04, 2017
SOYBEAN August Aug. 09, 2017 256 Aug 04, 2017

DJ USDA Grain Inspections for Export in Metric Tons – Aug 7
COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.
INFORMATION CONTAINED IN THIS REPORT REFLECTS EXPORTED GRAIN INSPECTED AND
WEIGHED THROUGH GIPSA’S AUTHORITY UNDER THE U.S. GRAIN STANDARDS ACT.
NO ADDITIONAL ANALYSIS, COMPILATIONS OR DATA IS AVAILABLE.
GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT
REPORTED IN WEEK ENDING AUG 03, 2017
— METRIC TONS —
————————————————————————-
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 08/03/2017 07/27/2017 08/04/2016 TO DATE TO DATE
BARLEY 2,468 2,245 3,165 10,032 15,027
CORN 979,006 993,045 1,488,516 53,838,868 41,699,904
FLAXSEED 0 0 734 3,281 2,097
MIXED 0 0 0 0 0
OATS 0 100 0 1,397 2,499
RYE 0 0 0 0 0
SORGHUM 105,951 222,653 220,144 5,633,848 8,371,080
SOYBEANS 685,697 492,537 1,015,179 55,091,471 47,828,398
SUNFLOWER 0 0 0 383 108
WHEAT 586,149 584,503 439,642 5,611,586 4,802,567
Total 2,359,271 2,295,083 3,167,380 120,190,866 102,721,680
————————————————————————-
CROP MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND
FLAXSEED; SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.
INCLUDES WATERWAY SHIPMENTS TO CANADA.

DJ U.S. Corn, Soybean Production Estimates — Survey
CHICAGO–The following are analysts’ estimates for 2017 U.S. corn and soybean production in millions of bushels, as compiled by The Wall Street Journal. Yield estimates are in bushels per acre and harvested acres are in million acres. The U.S. Department of Agriculture is scheduled to release its monthly estimates at noon on Thursday.
U.S. 2017 Production (million bushels, bushels per acre)
Average Range USDA July USDA 2016
Corn Production 13,841 13,590-14,070 14,255 15,148
Soybean Production 4,202 4,165-4,260 4,260 4,307
Corn Yield 166.0 162.8-168.5 170.7 174.6
Soybean Yield 47.4 46.9-48.0 48.0 52.1
Corn Soybean
Production Yield Production Yield
AgriSource 13,893 166.4 4,215 47.5
Agrivisor 13,777 165.0 4,188 47.2
Allendale 13,637 163.3 4,165 46.9
DC Analysis 13,813 165.6 4,223 47.6
Doane 13,795 166.0 4,170 47.0
EDF Man 14,028 168.0 4,213 47.5
Farm Futures 13,618 163.5 4,214 47.5
Futures INTL 13,836 166.4 4,170 47.1
Hueber Report 14,070 168.5 4,170 47.5
INTL FCStone 13,590 162.8 4,235 47.7
Sid Love Consultin 13,778 165.0 4,213 47.5
MaxYield 14,030 168.0 4,260 48.0
Northstar 13,848 165.8 4,185 47.5
Price Group 13,860 166.0 4,260 48.0
Prime Ag 13,945 167.0 4,169 47.0
RMC 13,946 167.0 4,216 47.5
US Commodities 13,836 166.5 4,168 47.2
Vantage RM 13,994 168.0 4,213 47.5
Western Milling 13,671 165.0 4,188 47.0
Zaner 13,860 166.0 4,196 47.3

DJ U.S. August Grain, Soybean Stockpiles Estimates — Survey
CHICAGO–The following are analysts’ estimates in millions of bushels for U.S. ending stockpiles for 2016-17 and 2017-18, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Thursday at noon ET.
U.S. Stockpiles (millions)
2016-17
Average Range USDA July
Corn 2,366 2,320-2,400 2,370
Soybeans 401 370-430 410
Wheat 1,185 1,180-1,200 1,184
2017-18
Average Range USDA July
Corn 1,966 1,642-2,375 2,325
Soybeans 426 369-474 460
Wheat 907 806-948 938
2016-17 2017-18
Corn Soybeans Wheat Corn Soybeans Wheat
AgriSource 2,320 410 1,184 1,894 415 930
Agrivisor 2,360 395 1,184 1,787 423 905
Allendale 2,370 394 1,184 1,927 474 948
DC Analysis 2,380 391 N/A 1,993 456 901
Doane 2,320 430 1,184 1,870 465 903
EDF Man 2,370 410 N/A 2,375 440 938
Farm Futures 2,345 400 N/A 1,884 415 865
Futures INTL 2,380 410 N/A 2,324 410 901
Hueber Report 2,400 390 1180.0 2,220 410 930
INTL FCStone 2,363 395 1,184 1,642 466 868
Sid Love Consulting 2,370 420 1,184 1,848 423 913
MaxYield 2,370 370 1,200 1,900 420 925
Northstar 2,370 395 1,184 1,875 410 900
Price Group 2,340 400 1,184 1,920 450 885
Prime-Ag 2,370 410 1,184 2,015 369 806
RMC 2,370 410 1,184 1,996 440 938
US Commodities 2395 400 N/A 1,956 408 N/A
Vantage RM 2,385 400 1,184 2,081 405 945
Western Milling 2,395 381 1,184 1,816 404 894
Zaner Ag Hedge 2,345 410 1,184 1,995 416 943

DJ August 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 and 2017-18, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Thursday at noon ET.
World Stockpiles (million metric tons)
2016-17
Average Range USDA July
Corn 227.2 226.0-228.5 227.5
Soybeans 94.4 93.5-95.0 94.8
Wheat 258.1 256.0-261.0 258.1
2017-18
Average Range USDA July
Corn 194.7 183.0-200.1 200.8
Soybeans 92.2 89.0-94.0 93.5
Wheat 256.7 245.0-263.1 260.6
2016-17 2017-18
Corn Soybeans Wheat Corn Soybeans Wheat
Agrivisor 227.0 93.5 258.0 183.0 90.0 258.5
Allendale 227.3 94.2 258.1 193.9 93.6 263.1
Doane N/A 95.0 N/A N/A 92.5 N/A
EDF Man 227.5 95.0 N/A 199.0 93.0 258.0
Farm Futures 226.0 94.0 258.0 195.0 93.0 253.0
Futures INTL 227.5 93.5 257.0 196.0 89.0 257.0
Hueber Report 227.0 94.8 256.0 197.0 93.0 258.0
INTL FCStone 227.3 93.7 258.1 192.9 92.4 255.3
MaxYield 226.0 95.0 261.0 198.0 94.0 255.0
Northstar 228.0 94.8 259.0 190.0 92.5 259.0
Prime-Ag 227.0 95.0 258.0 195.0 92.0 245.0
RMC 227.0 94.7 257.6 200.1 93.5 260.1
Western Milling 228.0 94.2 258.0 198.0 93.0 259.0
Zaner Ag Hedge 228.5 94.0 258.1 193.5 89.9 256.2

DJ U.S. Wheat Production Estimates — Survey
CHICAGO–The following are analysts’ estimates for 2017-18 U.S. wheat production, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated production forecasts at noon on Thursday.
2017-18 WHEAT PRODUCTION
Average Range USDA July USDA 2016-17
All Wheat 1,713 1,550-1,784 1,760 2,310
Winter Wheat 1,278 1,258-1,293 1,279 1,672
Hard Red Winter 757 737-775 758 1,082
Soft Red Winter 306 300-310 306 345
White Winter 215 205-224 216 245
Other Spring 393 350-440 423 534
Durum 57 52-65 58 104
All Winter Other
Wheat Hard-Red Soft-Red White Spring Durum
Allendale 1784 1279 758 306 216 440 65
AgriVisor 1725 1270 760 300 210 395 60
DC Analysis 1711 1280 758 306 216 373 57
Doane 1742 1279 758 306 216 407 56
EDF Man 1761 1280 760 310 210 423 57
Farm Futures 1719 1279 746 309 224 376 64
Futures INTL 1729 N/A N/A N/A N/A 397 52
Hueber Report 1752 1279 758 306 216 418 55
INTL FCStone 1716 1278 757 306 216 382 55
MaxYield 1550 N/A N/A N/A N/A N/A N/A
Northstar 1715 1290 775 310 205 375 N/A
Sid Love Consultin 1735 1279 758 306 216 400 55
Price Group 1682 1280 753 307 220 350 52
Prime Ag 1628 N/A N/A N/A N/A N/A N/A
RMC 1740 1271 756 306 N/A N/A N/A
Vantage RM 1733 1258 737 300 216 418 58
Western Milling 1715 1279 758 306 216 377 55
Zaner Ag Hedge 1705 1293 767 308 218 359 53

Crop Progress
Date 6-Aug 30-Jul 2016 Avg
Cotton Squaring 93 87 95 96
Cotton Setting Bolls 58 46 68 68
Cotton Bolls Opening 8 9 7
Corn Silking 93 86 96 94
Corn Dough 42 23 50 4
Carn Dent 7 8 11
Soybeans Blooming 90 82 90 88
Soybeans Setting Pods 65 48 67 62
Sorghum Headed 62 49 72 63
Sorghum Coloring 26 23 30 32
Rice Headed 84 64 84 72
Rice Harvested 9 8 5
Peanuts Pegging 91 87 94 92
Oats Harvested 50 35 66 59
Winter Wheat Harvested 94 88 93 92
Spring Wheat Harvested 24 9 27 21
Barley Harvested 25 6 29 22

Crop Condition
Very Poor Fair Good Very Good
Cotton This Week 6 8 29 41 16
Cotton Last Week 5 9 30 43 13
Cotton Last Year 3 13 36 40 8
Spring Wheat This Week 22 21 25 25 7
Spring Wheat Last Week 22 21 26 26 5
Spring Wheat Last Year 2 6 23 58 10
Corn This Week 4 9 27 47 13
Corn Last Week 4 9 26 48 13
Corn Last Year 2 5 19 54 20
Soybeans This Week 3 9 28 50 10
Soybeans Last Week 4 9 28 49 10
Soybeans Last Year 2 5 21 55 17
Sorghum This Week 2 7 30 52 9
Sorghum Last Week 2 7 30 54 7
Sorghum Last Year 1 6 28 53 12
Rice This Week 1 5 22 55 17
Rice Last Week 1 5 23 53 18
Rice Last Year 2 5 27 51 15
Oats This Week 10 13 26 42 9
Oats Last Week 9 13 27 33 9
Oats Last Year 3 7 26 53 11
Barley This Week 8 12 35 37 8
Barley Last Week 6 11 34 43 6
Barley Last Year 1 4 23 57 15
Peanuts This Week 0 3 18 58 21
Peanuts Last Week 0 4 24 53 19
Peanuts Last Year 1 5 28 53 13
Pasture and Range This Week 9 15 32 38 6
Pasture and Range Last week 9 14 32 39 6
Pasture and Range Last Year 5 12 32 44 7

WHEAT
General Comments: US markets were higher as the US Dollar moved slightly lower and reports of strong demand continued. The export inspections report was above expectations for Wheat and ideas remain that US Wheat is relatively cheap in world markets. Minneapolis rallied as Spring Wheat areas are forecast to see very little rain in the next couple of weeks. Traders anticipate reduced production estimates for Spring Wheat from USDA on Thursday. Ideas are that all three markets could be near some lows and could turn higher in the short-term as seasonal trades suggest higher prices from about now into late in the year. The US Winter Wheat harvest is about ready to wind down now and USDA will most likely issue its final progress report next week. The Spring Wheat harvest is increasing.. There are lower production expectations for the Canadian Prairies as it remains dry in western sections and variable in eastern areas. Australia has suffered from hot and dry weather as the crop moves to maturity and the harvest should be sharply lower. European crops show variable conditions, but the higher quality crops are expected to be smaller due to bad weather in the north. Both Germany and Poland have seen excessive rains. US prices are very competitive in the world market, and the recently weaker US Dollar this week should help increase export demand.
Overnight News: The southern Great Plains should get mostly dry weather, but some showers are expected late this week. Temperatures should be near to below normal. Northern areas should get mostly dry weather, but a few showers are possible late this week. Temperatures should be near to below normal. The Canadian Prairies should see mostly dry weather, but showers are possible on Wednesday. Temperatures will average near top below normal.
Chart Analysis: Trends in Chicago are mixed to down with objectives of 454 and 446 September. Support is at 453, 443, and 441 September, with resistance at 464, 473, and 478 September. Trends in Kansas City are mixed to down with objectives of 458 and 444 September. Support is at 457, 445, and 438 September, with resistance at 471, 472, and 480 September. Trends in Minneapolis are mixed to down with objectives 675, 667, and 554 September. Support is at 708, 687, and 678 September, and resistance is at 736, 748, and 764 September.

RICE
General Comments: Rice closed lower again yesterday on hat appeared to be some speculative long liquidation. USDA showed almost unchanged crop conditions after the close and noted that crop progress is a head of normal. It is now including the harvest pace in its data. The harvest is active in Louisiana and Texas. The quality appears to be good so far in Louisiana amid average to below average yields. Texas is showing very good yields and ideas are that the quality will be very good as well. Harvest activity will move to other states soon. Mississippi has seen some early cutting in southern areas. Arkansas and Missouri will not get started until late August at the earliest. Crop potential in these states is an open question due primarily to harsh weather at the start of the growing season and variable conditions for much of the year. Current weather is mostly good.
Overnight News: The Delta should get scattered showers each day Temperatures should average near to below normal.
Chart Analysis: Trends are mixed to down with objectives of 1199 and 1172 September. Support is at 1181, 1174, and 1165 September, with resistance at 1225, 1237, and 1245 September.

CORN AND OATS
General Comments: Corn closed higher yesterday as the crop continued to deteriorate. Traders are starting to talk more about production potential this year and what USDA might show on Thursday. Just about everyone expects sub trend yields, and some yield estimates are below 165 bushels per acre. However, USDA might now show that kind of loss this time around as this report will be mostly a populations survey and other measurements like ear length and weight that are used to determine overall yields will not really be measured for this month. USDA could easily forecast a yield between 165 and 170 bushels per acre. Price Group held a one day trip to see the crops in Central Illinois on Sunday. Crop potential varies widely depending on the rains and timing of the rains. Yield estimates ranged from about 140 bushels to over 240 bushels per acre. The Corn is mostly in the milk stage and still needs a lot of time to get to maturity. Growing conditions remain variable, Minnesota and parts of Iowa have good crops, but stress is possible in other western areas from the overall dry conditions. However, Missouri and parts of Illinois have good crops. Eastern areas have seen too much rain in many cases.
Overnight News:
Chart Analysis: Trends in Corn are mixed to up with objectives of 373, 379, and 405 September. Support is at 368, 367, and 365 September, and resistance is at 373, 377, and 379 September. Trends in Oats are mixed to down with objectives of 266 abd 249 September. Support is at 274, 269, and 267 September, and resistance is at 282, 286, and 289 September.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and Soybean Meal were higher, but Soybean Oil closed lower. Most traders were looking ahead to the weekly condition reports and also the USDA production reports on Thursday. USDA showed slight improvement in crop condition in its reports last night.. Word last week that China could retaliate against the US in a developing trade dispute by limiting Soybeans imports from the US created the most selling interest. The US is after China to do something about an intellectual property dispute and might complain to the WTO. China would then retaliate by restricting the Soybeans imports. The trade is putting more attention on the coming USDA reports and is trying to estimate yields. Most expect USDA to cut yields from its trend line estimate of 47 bushels per acre, but it might not do that yet as it will have very little information about the crop from this survey. Any significant change in yield estimates might wait until more information about the crop becomes available next month. The Price Group trip to Central Illinois yesterday showed highly variable conditions and production potential for Soybeans. Some fields will not be harvested, and all fields showed short Soybeans plants even if the color and other factors were good. It is highly unlikely that the market will get trend line yields in the end. The Soybeans are just starting to flower now and have not yet set pods. The crop progress is well beyond last year. Wet weather in eastern areas has hurt Soybeans potential, although recent drier weather could allow for some improvement. Plants are small and are not likely to yield well due to all of the rain. Western areas could use some rain, but many crops appear to be in good condition.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed to down with objectives of 945 and 895 September. Support is at 959, 949, and 948 September, and resistance is at 967, 968, and 975 September. Trends in Soybean Meal are mixed to down with objectives of 304.00 and 285.00 September. Support is at 309.00, 305.00, and 302.00 September, and resistance is at 312.00, 315.00, and 317.00 September. Trends in Soybean Oil are mixed to down with no objectives. Support is at 3320, 3300, and 3250 September, with resistance at 3400, 3440, and 3530 September.

CANOLA AND PALM OIL
General Comments: Canola was higher again yesterday in sympathy with Chicago Soybeans and as many western areas remain too dry for good production potential. Ideas are that crop conditions are highly variable, but it is the hot and dry conditions in the est that have the most trade attention. Reports of tight supplies and limited offers in the cash market continue. Palm Oil was higher along with the outside markets.e. MPOB releases new data this week that should show bigger production. The July exports reported by the private sources held strong into the end of the month.. There are reports of strong Chinese buying interest in Palm Oil. Traders talked once again about increasing production. Futures are showing that a short-term bottom might have been completed in the last couple of weeks.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 495.00, 493.00, and 486.00 November, with resistance at 505.00, 510.00, and 514.00 November. Trends in Palm Oil are mixed to up with objectives of 2710 October. Support is at 2560, 2540, and 2530 October, with resistance at 2640, 2660, and 2700 October.

Trades Estimates for the MPOB Report from Reuters:
Observation period : Jul
Frequency : Monthly
Release date : Thursday, 10 Aug
Forecast as follows:
Production – 1.68 mil tonnes, Up 11.0%
Exports – 1.43 mil tonnes, Up 4.0%
Ending Stocks – 1.63 mil tonnes, Up 6.5%
Prior reading as follows:
Production – 1.51 mil tonnes, Down 8.5%
Exports – 1.38 mil tonnes, Down 8.4%
Ending Stocks – 1.53 mil tonnes, Down 1.9%
Breakdown of July estimates (in tonnes):
Range Median
Production 1,590,000 – 1,718,583 1,681,000
Exports 1,420,000 – 1,449,000 1,434,900
Imports 46,000 – 55,000 49,300
Closing Stocks 1,552,000 – 1,660,000 1,626,000
* Official stocks of 1,527,043 tonnes in June plus the above estimated output and imports give a total July supply of 3,257,343 tonnes. Based on the median of the exports and closing stocks estimates, Malaysia’s domestic consumption in July would be 197,343 tonnes.

Midwest Weather Forecast: Showers and storms today and late in the week. Temperatures should average below normal.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
August 25-Sep 110 Sep 37 Sep 42 Aug minus 4 Sep
September 27-Sep 52 Sep 43 Nov
October 25-Dec 50 Dec 46 Nov
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Paraguay
August
September 95 Sep minus 25 Sep 44 Sep
October minus 20 Oct 33 Dec
All basis levels are positive unless noted as negative

DJ ICE Canada Cash Grain Close – Aug 4
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 477.60 dn 3.40
Basis: Thunder Bay
1 Can 508.30 up 2.70
2 Can 495.30 up 2.70
Basis: Vancouver
1 Can 523.30 up 2.70
2 Can 510.30 up 2.70
FEED WHEAT
Lethbridge 205.00 unchanged
Can Feed 178.00 unchanged
WESTERN BARLEY
Lethbridge 197.00 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 – August 8
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Tuesday, 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
Aug 642.50 +07.50 Unquoted – –
Sep 642.50 +07.50 Unquoted – –
Oct/Nov/Dec 637.50 +07.50 Unquoted – –
Jan/Feb/Mar 647.50 +07.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 647.50 +07.50 Unquoted – –
Sep 647.50 +07.50 Unquoted – –
Oct/Nov/Dec 642.50 +07.50 Unquoted – –
Jan/Feb/Mar 652.50 +07.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 620.00 +05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Aug 615.00 +05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 2,635 +35.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 275.00 +03.00 Unquoted – –
($1=MYR4.2835)

DJ China Dalian Grain Futures Closing Prices, Volume – Aug 08
Soybean No. 1
Turnover: 330,032 lots, or 13.00 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-17 3,846 3,885 3,846 3,863 3,818 3,867 49 69,252 58,360
Nov-17 3,884 3,922 3,883 3,914 3,921 3,905 -16 30 6
Jan-18 3,926 3,990 3,921 3,951 3,881 3,958 77 256,984 188,460
Mar-18 – – – 3,976 3,899 3,976 77 0 28
May-18 3,954 4,015 3,954 3,981 3,925 3,991 66 3,588 3,974
Jul-18 – – – 3,895 3,895 3,895 0 0 2
Sep-18 3,989 4,030 3,980 4,010 3,954 4,005 51 88 86
Nov-18 3,987 3,987 3,987 3,987 4,004 3,987 -17 8 8
Jan-19 3,991 4,006 3,991 4,006 3,970 4,005 35 82 58
Corn
Turnover: 452,642 lots, or 7.60 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-17 1,663 1,669 1,662 1,667 1,661 1,666 5 130,704 621,026
Nov-17 1,682 1,682 1,682 1,682 1,680 1,682 2 2 616
Jan-18 1,677 1,683 1,676 1,680 1,672 1,679 7 290,886 1,027,036
Mar-18 1,694 1,694 1,693 1,693 1,681 1,693 12 4 1,208
May-18 1,723 1,728 1,719 1,725 1,722 1,724 2 31,036 122,862
Jul-18 1,740 1,740 1,740 1,740 1,736 1,740 4 10 80
Soymeal
Turnover: 1,428,800 lots, or 40.10 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-17 – – – 2,820 2,820 2,820 0 0 0
Sep-17 2,811 2,856 2,809 2,846 2,808 2,835 27 197,690 452,022
Nov-17 2,844 2,853 2,842 2,850 2,821 2,848 27 32 220
Dec-17 2,824 2,862 2,824 2,854 2,828 2,844 16 84 638
Jan-18 2,780 2,825 2,777 2,819 2,777 2,805 28 1,178,400 1,677,164
Mar-18 2,737 2,775 2,737 2,772 2,727 2,756 29 36 366
May-18 2,706 2,745 2,706 2,741 2,709 2,727 18 52,546 251,248
Jul-18 2,706 2,763 2,706 2,763 2,723 2,732 9 12 74
Palm Oil
Turnover: 683,218 lots, or 36.59 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-17 – – – 5,630 5,630 5,630 0 0 0
Sep-17 5,380 5,450 5,356 5,448 5,400 5,418 18 74,926 143,880
Oct-17 – – – 5,488 5,488 5,488 0 0 8
Nov-17 5,426 5,450 5,424 5,450 5,448 5,436 -12 8 6
Dec-17 – – – 5,354 5,364 5,354 -10 0 2
Jan-18 5,304 5,390 5,276 5,384 5,354 5,346 -8 602,034 655,810
Feb-18 – – – 5,406 5,414 5,406 -8 0 10
Mar-18 – – – 5,428 5,428 5,428 0 0 0
Apr-18 – – – 5,620 5,620 5,620 0 0 10
May-18 5,448 5,530 5,412 5,526 5,486 5,476 -10 6,248 43,314
Jun-18 5,548 5,548 5,548 5,548 5,568 5,548 -20 2 14
Jul-18 – – – 5,570 5,570 5,570 0 0 2
Soybean Oil
Turnover: 571,334 lots, or 35.39 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-17 – – – 6,200 6,200 6,200 0 0 54
Sep-17 6,020 6,138 6,008 6,136 6,046 6,084 38 111,458 242,484
Nov-17 – – – 6,184 6,146 6,184 38 0 32
Dec-17 – – – 6,200 6,162 6,200 38 0 4
Jan-18 6,152 6,272 6,140 6,272 6,188 6,218 30 454,292 712,712
Mar-18 6,184 6,222 6,184 6,222 6,232 6,202 -30 4 0
May-18 6,290 6,394 6,262 6,388 6,320 6,340 20 5,580 35,332
Jul-18 – – – 6,420 6,420 6,420 0 0 0
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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