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 USDA Cold Storage: Totals-Sep 22
WASHINGTON (Dow Jones)–U.S. stocks of pork bellies in freezers
totaled 19.080 million pounds, in August, 8.4% above the previous
month, but 40.5% below August 2016, the U.S. Department Agriculture
said Friday.
In thousand pounds.
public
Aug 31 Jul 31 Aug 31 Jul 31 warehouse
2017 2017 2016 2016 stocks/Aug
pork bellies 19,080 17,602 32,053 50,733
orange juice 471,509 505,491 653,114 710,973
french fries 919,604 922,100 904,433 882,810
other potatoes 270,595 279,584 256,089 266,218
chicken rstr (whole) 22,227 22,807 22,965 24,617
ham 203,636 194,968 226,070 188,441
ttl pork 575,681 554,854 608,955 598,592 507,601
ttl beef 476,260 431,836 476,593 469,735 469,368
ttl red meat 1/ 1,099,635 1,029,788 1,130,461 1,118,065 1,024,644
ttl chicken 780,154 798,120 773,705 823,897
ttl turkey 607,855 595,623 532,579 530,278
ttl poultry 1,391,877 1,397,646 1,315,876 1,363,566 1,290,091

DJ Summary For September USDA Monthly Cattle On Feed Data
Data from the U.S. Department of Agriculture’s monthly cattle-on-feed report, released at 3:00 p.m. ET Friday, and analysts’ estimates as compiled by the Wall Street Journal. In million head.
Numbers USDA’s Average Range
2017 2016 estimated of analysts’ of analysts’
% of prev yr estimates
On-feed Sep 1 10.504M 10.135M 104 102.7 101.1- 104.0
Placed in Aug 1.928M 1.879M 103 97.3 88.3- 104.3
Marketed in Aug 1.979M 1.868M 106 105.8 104.3- 107.1
Note: USDA rounds its estimates to the nearest whole number.

DJ Uneven Monsoon Rains to Hit India’s Grain Output — Market Talk
1114 GMT – India is expected to experience a 2.8% shortfall in food grain production to about 134.67 million tons, hurt by lower output of summer crops such as rice. Uneven distribution of the June-September monsoon rains, which accounts for about 80% of the country’s total rainfall, resulted in floods in some parts and dry weather elsewhere. As a result, production of rice is estimated to fall 2% to 94.48 million tons, while that of lentils could decline 7.5% to 8.71 million tons, says India’s agriculture ministry. (vibhuti.agarwal@wsj.com)

WHEAT
General Comments: Wheat markets closed mostly higher, but a little lower in Chicago SRW, on ideas of improving demand and higher world market prices. Ideas that demand can start to improve now and a generally weaker US Dollar keep supporting Wheat, and on Friday strength in the Soy complex also provided support. Reuters noted late last week that US prices are now below those from Australia for delivery into Asia, a sign of the poor production potential in Australia as much as anything else. The US Dollar remains generally weak, so US Wheat should be more attractive than many other origins into other markets. World and US conditions are still far from perfect, and US planting of the next Winter Wheat crop has been slow to get started due to some dry conditions in parts of the Great Plains. It is also still dry in Australia and in parts of eastern Europe, and Argentina has been too wet. The current rains in Argentina are damaging the Wheat crop as it was getting mature and ready for harvest. Chart patterns still show the chance for higher prices.
Overnight News: The southern Great Plains should get a lot of rain and showers early this week, then dry weather. Temperatures should be above normal. Northern areas should get mostly dry weather. Temperatures should be near to above normal late this week and cooler this weekend. The Canadian Prairies should see mostly dry weather. Temperatures will trends to above normal.
Chart Analysis: Trends in Chicago are mixed to up with objectives of 461, 463, and 483 December. Support is at 446, 442, and 436 December, with resistance at 455, 465, and 468 December. Trends in Kansas City are mixed. Support is at 446, 441, and 435 December, with resistance at 452, 454, and 465 December. Trends in Minneapolis are mixed. Support is at 615, 607, and 594 December, and resistance is at 640, 648, and 653 December.

COT — Supplemental Report – Option and Futures Combined Positions as of September 19, 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 548,266
: Positions :
: 99,888 199,631 160,927 94,327 120,964 146,997 19,231 502,139 500,754: 46,128 47,513
: Changes from: September 12, 2017 (Change in open interest: -364) :
: 4,308 4,252 -3,557 -2,996 -2,733 2,318 1,227 73 -810: -437 446
: Percent of Open Interest Represented by Each Category of Trader :
: 18.2 36.4 29.4 17.2 22.1 26.8 3.5 91.6 91.3: 8.4 8.7
: Total Traders: 444 Number of Traders in Each Category :
: 111 160 145 106 109 29 16 338 346:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 19, 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 288,542
: Positions :
: 84,012 77,151 42,754 77,517 135,769 59,689 9,402 263,972 265,077: 24,570 23,464
: Changes from: September 12, 2017 (Change in open interest: -233) :
: -1,878 -810 -378 2,299 1,614 1,259 546 1,302 972: -1,535 -1,205
: Percent of Open Interest Represented by Each Category of Trader :
: 29.1 26.7 14.8 26.9 47.1 20.7 3.3 91.5 91.9: 8.5 8.1
: Total Traders: 265 Number of Traders in Each Category :
: 72 55 63 80 82 23 7 199 187:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 19, 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 87,593 :
: Positions :
: 42,591 51,180 3,856 472 1,144 8,200 2,107 4,060 6,158 9,180 7,215 :
: Changes from: September 12, 2017 :
: 2,738 1,414 -200 -51 871 -520 392 366 -577 -184 -478 :
: Percent of Open Interest Represented by Each Category of Trader :
: 48.6 58.4 4.4 0.5 1.3 9.4 2.4 4.6 7.0 10.5 8.2 :
: Number of Traders in Each Category Total Traders: 124 :
: 50 43 5 . 4 16 5 4 16 13 27 :
—————————————————————————————————————-

RICE
General Comments: Rice closed lower again Friday open long liquidation and new selling from some producers and speculators. Chart trends turned down with the price action on Friday, and some additional selling is possible this week. The harvest advances even with ideas of decent yields and good quality. The harvest is now well passed the halfway point. Field yields in the entire Rice Belt have been variable to good, and quality is generally called good. Arkansas and Missouri are increasingly active under what seems to be good conditions. The weather in general has been much better for finishing the crop in good condition than it was for planting and initial development. Bullish traders hope for good demand news as US prices are still relatively cheap when compared to those from South America and it is looking more and more like the US will have good quality Rice to sell and export this year.
Overnight News: The Delta should get scattered showers off and on all week. Temperatures should average near to below normal.
Chart Analysis: Trends are down with objectives of 1237 and 1205 November. Support is at 1231, 1223, and 1216 November, with resistance at 1245, 1256, and 1266 November.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 19, 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 11,556 :
: Positions :
: 4,551 7,282 148 131 0 2,939 259 0 909 2,057 692 :
: Changes from: September 12, 2017 :
: 297 -10 0 15 0 -17 58 0 20 185 -31 :
: Percent of Open Interest Represented by Each Category of Trader :
: 39.4 63.0 1.3 1.1 0.0 25.4 2.2 0.0 7.9 17.8 6.0 :
: Number of Traders in Each Category Total Traders: 78 :
: 16 16 . . 0 15 . 0 20 15 12 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn was a little higher as it followed the other markets higher, but was held down on ideas that the US harvest is set to expand soon and on some forecasts for rains in Brazil in the next week or two. Weakness also came from ideas of weaker demand due to widespread availability of feed grains in world markets. It is very warm in the Midwest to speed maturity along. The warm weather should last for a couple more days, then cooler and more seasonable temperatures are likely. Many Midwest areas have seen some record highs for the date in the last week. Corn in eastern Wisconsin is starting to dry down and get mature for harvest, and there has been just a very small amount harvested so far. USDA raised yields and production to high levels, but so far the initial results do not support USDA projections. The harvest is starting now in some areas, so more reports should become available over the course of the week. Brazil has been dry and some initial Soybeans planting has been delayed. This might delay or prevent some planting of the Winter crop in Brazil in some areas. The rains being forecast would allow Soybeans to get planted and increase the chances for a bigger Winter Corn crop this year. Producers continue to show very little interest in selling Corn Trends are up for Oats and sideways for Corn.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 351, 346, and 344 December, and resistance is at 357, 360, and 363 December. Trends in Oats are up with objectives of 255 December. Support is at 242, 238, and 235 September, and resistance is at 252, 260, and 263 December.

COT — Supplemental Report – Option and Futures Combined Positions as of September 19, 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 1,785,555
: Positions :
: 246,493 403,810 438,672 493,563 672,314 363,110 44,899 1,541,838 1,559,695: 243,717 225,859
: Changes from: September 12, 2017 (Change in open interest: 48,615) :
: 7,171 18,850 21,654 12,539 -1,840 730 2,983 42,094 41,646: 6,521 6,968
: Percent of Open Interest Represented by Each Category of Trader :
: 13.8 22.6 24.6 27.6 37.7 20.3 2.5 86.4 87.4: 13.6 12.6
: Total Traders: 794 Number of Traders in Each Category :
: 200 178 219 323 303 30 19 658 626:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 19, 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 6,916 :
: Positions :
: 965 3,841 263 300 0 640 123 0 1,145 317 1,507 :
: Changes from: September 12, 2017 :
: 208 277 -1 0 0 -21 46 0 36 -363 36 :
: Percent of Open Interest Represented by Each Category of Trader :
: 14.0 55.5 3.8 4.3 0.0 9.3 1.8 0.0 16.6 4.6 21.8 :
: Number of Traders in Each Category Total Traders: 35 :
: 8 11 . . 0 5 . 0 11 . 8 :
—————————————————————————————————————-

SOYBEANS AND PRODUCTS
General Comments: Soybeans and Soybean Meal were higher on reports of strong export demand from unknown destinations and China. The export demand was strong last week, and those sales could continue this week. Soybean Oil was lower. Forecasts for some beneficial rains in Brazil in the next couple of weeks continue to be Heard, but for now it remains mostly dry. It is planting time for Soybeans there, but many producers have not yet started as it has been too dry. The Soybeans harvest has started in a few sections of central and southern Illinois and Indiana, and yields so far do not really support the high USDA yield estimates. Most estimates appear to be below those of last year. It is still very early and many more reports will be heard and will affect the price action over the next few weeks. The weather this week will feature warmer temperatures early and more normal temperatures late.
Overnight News:
Chart Analysis: Trends in Soybeans are up with objectives of 1003, 1013, and 1043 November. Support is at 978, 974, and 972 November, and resistance is at 988, 997, and 1002 November. Trends in Soybean Meal are up with objectives of 324.00 and 329.00 October. Support is at 312.00, 310.00, and 308.00 October, and resistance is at 318.00, 322.00, and 323.00 October. Trends in Soybean Oil are mixed to down with objectives of 3400 October. Support is at 3400, 3360, and 3340 October, with resistance at 3440, 3480, and 3520 October.

COT — Supplemental Report – Option and Futures Combined Positions as of September 19, 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 821,337
: Positions :
: 89,943 118,901 232,851 295,155 346,940 147,920 26,151 765,869 724,842: 55,468 96,495
: Changes from: September 12, 2017 (Change in open interest: -5,937) :
: 1,599 -13,333 4,892 -13,003 5,243 97 -1,574 -6,416 -4,772: 479 -1,165
: Percent of Open Interest Represented by Each Category of Trader :
: 11.0 14.5 28.4 35.9 42.2 18.0 3.2 93.2 88.3: 6.8 11.7
: Total Traders: 645 Number of Traders in Each Category :
: 141 226 249 171 195 27 16 506 543:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 19, 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 473,144
: Positions :
: 117,983 34,340 99,119 91,484 286,587 125,672 24,091 434,257 444,137: 38,887 29,007
: Changes from: September 12, 2017 (Change in open interest: 280) :
: -661 1,305 -2,350 -1,026 -5,351 4,460 4,474 423 -1,921: -143 2,201
: Percent of Open Interest Represented by Each Category of Trader :
: 24.9 7.3 20.9 19.3 60.6 26.6 5.1 91.8 93.9: 8.2 6.1
: Total Traders: 319 Number of Traders in Each Category :
: 101 60 125 73 74 21 10 272 234:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 19, 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 415,551
: Positions :
: 47,623 69,183 79,374 143,566 211,201 99,827 23,702 370,390 383,460: 45,162 32,092
: Changes from: September 12, 2017 (Change in open interest: -9,318) :
: 1,616 -12,256 -4,763 -11,019 9,069 5,233 350 -8,932 -7,599: -386 -1,719
: Percent of Open Interest Represented by Each Category of Trader :
: 11.5 16.6 19.1 34.5 50.8 24.0 5.7 89.1 92.3: 10.9 7.7
: Total Traders: 279 Number of Traders in Each Category :
: 57 69 93 91 85 24 14 230 221:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Canola was higher and made new highs for the move and a new high close for the move. Harvest conditions are bad in a big part of the Prairies as it has been cold and wet. The harvest is active in drier areas, and yield reports for now indicate better than expected production. Some selling was reported yesterday. Speculators are trading both side of the market. Palm Oil was lower today on weakness in the outside markets and despite the positive demand news from the private sources. Overall the trends are up in futures. There is a conference going on in India for vegetable oils and outlooks from analysts appear to be price neutral to bearish so far.
Overnight News: SGS said that Malaysian Palm Oil exports are now 1.105 million tons, from 956,547 tons last month. ITS said that exports are now 1.085 million tons, from 934,544 tons last month.
Chart Analysis: Trends in Canola are mixed to up with objectives of 499.00 November. Support is at 490.00, 487.00, and 483.00 November, with resistance at 498.00, 503.00, and 507.00 November. Trends in Palm Oil are mixed. Support is at 2730, 2710, and 2650 December, with resistance at 2800, 2840, and 2860 December.

DJ Canadian Grain Handling Summary – Sep 22
Winnipeg September–The following are Canadian grain
handling summary statistics for the week ended September 20 2017. Figures
in thousands of metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This Week 3280.2 654.8 240.8 282.9 63.9 1294.0 493.6 48.1 6691.8
Week Ago 3122.7 686.8 238.5 270.4 62.5 1176.0 575.9 58.3 6481.6
Year Ago 2132.2 521.1 184.9 182.4 22.4 1039.5 589.9 131.8 5300.1
Producer Deliveries
This Week 402.5 72.8 64.9 51.8 5.3 591.1 71.6 3.2 1368.1
Week Ago 404.3 58.8 69.7 70.8 3.4 627.0 118.2 6.0 1393.8
To Date 2586.6 467.8 432.8 321.4 29.2 2334.9 1005.8 47.9 7561.7
Year Ago 2175.7 361.2 308.1 231.9 37.7 2140.7 1534.3 46.4 7289.8
Terminal Receipts
This Week 270.0 50.0 0.1 28.9 0.9 266.3 127.2 0.6 764.1
Week Ago 361.2 56.5 11.5 1.9 1.4 166.4 192.3 0.3 800.4
To Date 2711.8 656.4 14.7 157.7 17.3 932.6 536.5 40.1 5198.7
Year Ago 2828.3 556.7 30.3 9.9 59.9 969.4 881.8 58.6 5711.9
Exports
This Week 242.1 43.1 55.6 0.4 1.0 115.5 162.8 – 637.7
Week Ago 230.0 62.3 80.0 0.2 4.4 96.4 131.1 – 638.6
To Date 2117.6 574.7 240.2 185.4 33.6 778.3 452.4 63.3 4568.0
Year Ago-*1748.8 339.4 208.6 1.8 23.6 862.2 869.6 59.4 4259.9
Domestic Disappearance
This Week 115.3 7.3 4.5 27.1 1.4 148.6 3.9 13.8 342.8
Week Ago 73.2 2.5 4.7 24.8 1.1 140.8 2.1 7.8 280.2
To Date 741.4 145.1 34.1 167.0 6.5 881.5 29.1 78.7 2241.0
Year Ago-* 395.7 32.6 62.0 189.4 7.1 1158.0 22.3 61.0 2073.2
*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 – Sep 22
WINNIPEG–The Canadian Oilseed Processors Association
reported
the Canadian oilseed crush for the week ended September 20, 2017 as
follows:
Figures are in metric tons. R-denotes revision.
Cumulative
Week 2017/18 2016/17 2017/18 2016/17
Ended Canola soybns
Sep 20 169,720 1,100,025 1,173,442 27,839 225,870 259,932
Sep 13 176,184 930,305 982,819 26,970 198,031 245,301
Sep 06 155,144 753,829 803,523 40,924 170,904 209,694
Aug 30 143,867 598,571 634,350 32,285 134,138 162,150
Aug 23 112,154 454,704 475,517 28,302 101,853 134,473
Crush Capacity Utilization
This week 2017/18 2016/17
Canola 76.6% 73.1% 79.3%
Soybeans 42.3% 50.6% 57.1%
Source: Commodity News Service Canada (cnscanada@shaw.ca, or 204-414-
9084)

Midwest Weather Forecast: Mostly dry. Temperatures will average above normal today and tomorrow, then near to below normal.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
September 22-Dec 170 Dec 45 Dec 43 Nov Oct Price
October 30-Dec 45 Dec 37 Nov
November 35 Dec 50 Dec 42 Nov
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Paraguay
September
October 86 Nov minus 15 Oct 54 Dec
November minus 17 Dec 56 Dec
All basis levels are positive unless noted as negative

DJ ICE Canada Cash Grain Close – Sep 22
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 472.10 up 0.80
Basis: Thunder Bay
1 Can 504.80 up 2.70
2 Can 491.80 up 2.70
Basis: Vancouver
1 Can 519.80 up 2.70
2 Can 506.80 up 2.70
FEED WHEAT
Lethbridge 190.00 unchanged
Can Feed N/A
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 – Sept 25
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
Sep 675.00 -17.50 Unquoted – –
Oct 675.00 -17.50 Unquoted – –
Nov/Dec 675.00 -15.00 Unquoted – –
Jan/Feb/Mar 672.50 -10.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Sep 680.00 -17.50 Unquoted – –
Oct 680.00 -17.50 Unquoted – –
Nov/Dec 680.00 -15.00 Unquoted – –
Jan/Feb/Mar 677.50 -10.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Sep 687.50 -07.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Sep 640.00 -02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sep 2,720 -45.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sep 326.00 -13.00 Unquoted – –
($1=MYR 4.1940)

DJ China Dalian Grain Futures Closing Prices, Volume – Sep 25
Soybean No. 1
Turnover: 108,974 lots, or 4.17 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-17 3,689 3,774 3,689 3,718 3,733 3,726 -7 12 94
Jan-18 3,836 3,836 3,814 3,825 3,810 3,822 12 103,168 275,064
Mar-18 3,825 3,825 3,812 3,815 3,786 3,819 33 8 26
May-18 3,853 3,856 3,836 3,843 3,830 3,843 13 5,674 16,430
Jul-18 – – – 3,893 3,893 3,893 0 0 6
Sep-18 3,877 3,892 3,877 3,880 3,877 3,889 12 90 662
Nov-18 – – – 3,894 3,882 3,894 12 0 2
Jan-19 3,943 3,943 3,932 3,932 3,916 3,934 18 22 104
Mar-19 – – – 3,941 3,941 3,941 0 0 0
Corn
Turnover: 469,150 lots, or 8.05 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-17 1,674 1,674 1,665 1,667 1,673 1,666 -7 76 998
Jan-18 1,716 1,718 1,707 1,713 1,715 1,712 -3 411,604 1,064,942
Mar-18 1,709 1,712 1,709 1,712 1,713 1,710 -3 8 1,190
May-18 1,746 1,749 1,740 1,745 1,748 1,743 -5 56,154 293,780
Jul-18 – – – 1,758 1,758 1,758 0 0 260
Sep-18 1,766 1,768 1,761 1,765 1,768 1,763 -5 1,308 15,060
Soymeal
Turnover: 1,618,460 lots, or 45.22 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-17 2,777 2,848 2,777 2,838 2,812 2,823 11 42 240
Dec-17 2,820 2,820 2,804 2,817 2,796 2,809 13 70 388
Jan-18 2,791 2,816 2,788 2,809 2,770 2,803 33 1,371,604 2,111,194
Mar-18 2,798 2,809 2,790 2,809 2,779 2,797 18 10 280
May-18 2,737 2,755 2,732 2,747 2,719 2,742 23 236,714 691,670
Jul-18 2,761 2,780 2,761 2,767 2,746 2,767 21 10 218
Aug-18 2,766 2,779 2,752 2,770 2,745 2,768 23 72 206
Sep-18 2,762 2,778 2,755 2,767 2,750 2,765 15 9,938 26,160
Palm Oil
Turnover: 548,514 lots, or 30.86 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Oct-17 – – – 5,730 5,730 5,730 0 0 0
Nov-17 – – – 5,830 5,830 5,830 0 0 4
Dec-17 – – – 5,712 5,712 5,712 0 0 2
Jan-18 5,644 5,692 5,572 5,592 5,636 5,626 -10 517,390 511,008
Feb-18 – – – 5,716 5,716 5,716 0 0 4
Mar-18 – – – 5,656 5,656 5,656 0 0 2
Apr-18 – – – 5,702 5,702 5,702 0 0 10
May-18 5,626 5,662 5,560 5,578 5,632 5,606 -26 30,606 83,132
Jun-18 5,598 5,598 5,598 5,598 5,720 5,598 -122 2 10
Jul-18 – – – 5,672 5,672 5,672 0 0 6
Aug-18 – – – 5,712 5,744 5,712 -32 0 2
Sep-18 5,594 5,616 5,524 5,530 5,592 5,554 -38 516 2,080
Soybean Oil
Turnover: 452,428 lots, or 28.11 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-17 – – – 6,448 6,448 6,448 0 0 28
Dec-17 – – – 6,350 6,350 6,350 0 0 12
Jan-18 6,236 6,268 6,158 6,174 6,240 6,206 -34 423,306 739,976
Mar-18 – – – 6,288 6,322 6,288 -34 0 4
May-18 6,338 6,362 6,258 6,282 6,340 6,300 -40 28,838 115,776
Jul-18 – – – 6,404 6,444 6,404 -40 0 4
Aug-18 – – – 6,410 6,450 6,410 -40 0 6
Sep-18 6,426 6,440 6,346 6,360 6,416 6,382 -34 284 904
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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