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 – Dec 4
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL December Dec. 05, 2017 294 Nov 28, 2017
SOYBEAN OIL December Dec. 05, 2017 155 Nov 17, 2017
CORN December Dec. 05, 2017 1270 Nov 30, 2017
KC HRW WHEAT December Dec. 05, 2017 27 Nov 29, 2017
OATS December Dec. 05, 2017 53 Dec 01, 2017
WHEAT December Dec. 05, 2017 437 Nov 29, 2017

WHEAT
General Comments: Wheat closed higher on Friday, but was still lower for the week in Chicago. Minneapolis was also lower for the week, but Kansas City was higher. Trends remain down on the weekly charts. Demand concerns remain the reason to keep prices low at this time as the export sales reports have not been strong on a weekly basis. The weather could provide a reason to buy. Forecasts for later this week in the Great Plains showed cold and dry conditions. Temperatures could easily move below freezing during the cold spell and some Winter Wheat could be damaged. The crop has no snow cover, and it does not look likely that any snow will come before the cold air hits. The crop has been trying to develop under very warm and dry conditions until now, but development reports have not been good and USDA condition reports have been showing this. There have also been reports of excessive rains in Australia as the Wheat crop there gets harvested. There are quality and yield concerns about that crop. Meanwhile, domestic markets in the US are showing a firmer tone as farmers are not willing to sell. World production estimates in general remain large and US offers need to be low to take business. It will be another small US crop as farmers continue to reduce planted area year after year in response to low world and US prices.
Overnight News: The southern Great Plains should get mostly dry weather. Temperatures should be below normal. Northern areas should get chances for light Snow off and on this week. Temperatures should be blow normal. The Canadian Prairies should see mostly dry weather, but light snow is possible tomorrow. Temperatures should average below normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 431, 424, and 418 March, with resistance at 439, 445, and 450 March. Trends in Kansas City are mixed to down with objectives of 422 and 418 March. Support is at 428, 422, and 416 March, with resistance at 442, 451, and 456 March. Trends in Minneapolis are mixed to down with objectives of 611 March. Support is at 619, 615, and 608 March, and resistance is at 637, 646, and 651 March.

DJ Australia Govt Downgrades Wheat Production, Expected To Fall 42% — Market Talk
1301 GMT – Australia’s government has again downgraded the country’s wheat production forecast for the year ending in March, with production now expected to fall 42% on-year to 20.3 million metric tons. Such output, which has been hit by unseasonable weather conditions, would be 2% below the 10-year average. However, the government says that summer crop production is expected to increase by 23% to around 4.8 million metric tons. (lucy.craymer@wsj.com)

COT — Supplemental Report – Option and Futures Combined Positions as of November 28, 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 598,396
: Positions :
: 104,338 245,714 156,437 134,532 126,905 154,073 21,403 549,381 550,459: 49,015 47,937
: Changes from: November 21, 2017 (Change in open interest: -98,651) :
: 5,246 14,591 -78,344 -15,901 -26,708 -9,896 -6,993 -98,895 -97,454: 244 -1,197
: Percent of Open Interest Represented by Each Category of Trader :
: 17.4 41.1 26.1 22.5 21.2 25.7 3.6 91.8 92.0: 8.2 8.0
: Total Traders: 463 Number of Traders in Each Category :
: 128 164 160 94 98 26 16 345 361:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of November 28, 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 323,751
: Positions :
: 83,807 111,849 51,721 106,858 129,254 55,483 6,940 297,869 299,765: 25,883 23,987
: Changes from: November 21, 2017 (Change in open interest: -8,732) :
: 1,203 5,112 -7,760 -2,761 -3,663 1,625 -1,441 -7,693 -7,753: -1,039 -980
: Percent of Open Interest Represented by Each Category of Trader :
: 25.9 34.5 16.0 33.0 39.9 17.1 2.1 92.0 92.6: 8.0 7.4
: Total Traders: 285 Number of Traders in Each Category :
: 81 75 73 81 76 19 6 212 205:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of November 28, 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 70,102 :
: Positions :
: 29,931 41,730 3,013 0 1,886 8,059 2,343 4,233 7,430 6,041 2,384 :
: Changes from: November 21, 2017 :
: -5,029 -7,411 -273 0 -956 -278 1,017 96 -847 -1,081 -4,168 :
: Percent of Open Interest Represented by Each Category of Trader :
: 42.7 59.5 4.3 0.0 2.7 11.5 3.3 6.0 10.6 8.6 3.4 :
: Number of Traders in Each Category Total Traders: 103 :
: 47 43 4 0 5 18 4 6 13 8 12 :
—————————————————————————————————————-

RICE
General Comments: Rice closed lower on Friday, but higher for the week as the export demand remains good and the offer in the cash market remains almost impossible to find. T he export sales reports have held demand consistently above 75,000 tons, and many weeks have shown sales above 100,000 tons. This good demand has been noted and reflects better US quality and less competition in the western hemisphere. Mercosur countries have had less to offer, and the US has benefitted from the reduced competition. Cash markets inside the US remain slow and steady as producers and mills remain mostly out of the market. Cash markets in the southern Delta and into Texas are firm on tight supplies, while markets farther north are very quiet. The domestic cash market might stay slow now through the holidays. Futures still can work higher.
Overnight News: The Delta should get mostly dry weather, but showers are likely next week. Temperatures should be near to above normal through Tuesday, then near to below normal.
Chart Analysis: Trends are up with objectives of 1274 and 1301 January. Support is at 1244, 1234, and 1222 January, with resistance at 1258, 1263, and 1277 January.

Disaggregated Commitments of Traders Options and Futures Combined Positions as of November 28, 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 11,095 :
: Positions :
: 7,004 6,426 162 0 0 527 747 0 745 1,630 951 :
: Changes from: November 21, 2017 :
: -769 -220 0 0 0 2 -294 0 85 -27 -209 :
: Percent of Open Interest Represented by Each Category of Trader :
: 63.1 57.9 1.5 0.0 0.0 4.7 6.7 0.0 6.7 14.7 8.6 :
: Number of Traders in Each Category Total Traders: 59 :
: 19 17 . 0 0 . 6 0 13 8 13 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn was higher on speculator buying again on Friday, and managed to close a little higher for the week. There was some concern again about crop conditions in South America. There were some rains in the dryer pockets of Argentina last weekend. However, it should turn dry again this week as Lan Nina conditions continue. La Nina implies drier than normal weather for Argentina and southern Brazil. Ideas are that yields could start to suffer unless the overall weather pattern changes to a more conducive for rains in southern Brazil and northern Argentina. Ideas of big supplies and less than great demand keep pulling the market down fundamentally, but the funds have maintained a huge and near record short position in futures and might not be able to sell much more. Farmers in the US are not selling much. Not much selling is reported in South America.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 354, 352, and 351 December, and resistance is at 359, 361, and 362 March. Trends in Oats are mixed to down with objectives of 257 and 247 March. Support is at 259, 257, and 252 March, and resistance is at 267, 269, and 272 March.

COT — Supplemental Report – Option and Futures Combined Positions as of November 28, 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 1,856,263
: Positions :
: 240,625 471,420 411,219 569,486 680,611 395,587 67,722 1,616,916 1,630,971: 239,347 225,292
: Changes from: November 21, 2017 (Change in open interest: -226,299) :
: 2,038 -16,950 -134,439 -77,617 -50,376 -3,809 -11,136 -213,828 -212,901: -12,471 -13,398
: Percent of Open Interest Represented by Each Category of Trader :
: 13.0 25.4 22.2 30.7 36.7 21.3 3.6 87.1 87.9: 12.9 12.1
: Total Traders: 799 Number of Traders in Each Category :
: 192 161 206 338 338 27 16 655 644:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of November 28, 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 7,346 :
: Positions :
: 1,357 5,842 190 0 0 1,360 0 0 1,771 268 340 :
: Changes from: November 21, 2017 :
: -413 -358 0 0 0 -167 0 0 -12 -16 -902 :
: Percent of Open Interest Represented by Each Category of Trader :
: 18.5 79.5 2.6 0.0 0.0 18.5 0.0 0.0 24.1 3.7 4.6 :
: Number of Traders in Each Category Total Traders: 33 :
: 7 12 . 0 0 8 0 0 5 5 6 :
—————————————————————————————————————-

SOYBEANS AND PRODUCTS
General Comments: Soybeans closed higher on Friday and slightly higher for the week. Soybean Meal was also higher, but Soybean Oil closed a little lower. Soybean Oil continues to sag in response to the EPA announcement continuing the biofuels mandates. Traders were unhappy that the EPA did not increase the mandates, but just a few weeks ago it had been looking for ways to make the mandates smaller, so something unchanged to greater for the coming year is positive. Soybeans are turning into a weather market. Concern is expressed about the lack of rains in southern Brazil and northern Argentina. Argentina got some beneficial rains over the weekend, but dry weather is now in the forecast for this week and maybe a lot longer. It is a classic La Nina pattern and the weather could continue to support the market. The fundamental reason for Soybeans to work lower was fears of reduced Chinese demand. China might be forced to reduce demand as the government is making it harder to get safety permits and also is making some economic changes that could make getting credit harder. Meanwhile, it is wetter in the north of Brazil and crops in central and northern Brazil should be in mostly good condition.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed. Support is at 983, 977, and 967 January, and resistance is at 996, 1001, and 1005 January. Trends in Soybean Meal are mixed. Support is at 325.00, 323.00, and 319.00 January, and resistance is at 330.00, 332.00, and 333.00 January. Trends in Soybean Oil are mixed to down with objectives of 3350 January. Support is at 3360, 3340, and 3300 January, with resistance at 3430, 3460, and 3470 January.

U.S. Soybean Crushing, Production, Consumption, Stocks (Table)
By Dominic Carey
(Bloomberg) —
Following is a table detailing soybean crushing, production, consumption and stocks, according to the USDA’s oilseed report.
Oct. Sept. Year MOM% YOY%
2017 2017 Ago Chg Chg
Crush:
Soybeans crushed (tons) 5,277,397 4,361,207 5,276,415 21.0% 0.0%
in Mlns Bushels 175.913 145.374 175.880 21.0% 0.0%
Crude oil produced (1,000 lbs) 2,016,888 1,701,762 2,028,518 18.5% -0.6%
Cake and meal produced (tons) 3,847,770 3,188,771 3,830,125 20.7% 0.5%
For animal feed (tons) 3,804,878 3,153,899 3,767,699 20.6% 1.0%
For edible protein products (tons) 42,892 34,872 62,426 23.0% -31.3%
Millfeed produced (tons) 276,055 219,873 273,917 25.6% 0.8%
———————————————————————————————-
Refine (1,000 lbs):
Crude oil processed in refining 1,644,069 1,418,280 1,580,814 15.9% 4.0%
Once refined oil produced 1,601,067 1,389,339 1,542,749 15.2% 3.8%
———————————————————————————————-
Consumption (1,000 lbs):
Once refined oil removed 1,554,132 1,377,546 1,579,541 12.8% -1.6%
Removed for edible 1,211,510 1,031,352 1,238,448 17.5% -2.2%
Removed for inedible 342,622 346,194 341,093 -1.0% 0.4%
———————————————————————————————-
Stocks (end of month):
Cake and meal (tons) 350,935 353,758 335,413 -0.8% 4.6%
Millfeed (tons) 42,368 46,872 42,212 -9.6% 0.4%
Crude oil (1,000 lbs) 1,300,360 1,400,918 1,437,483 -7.2% -9.5%
Crusher 567,670 601,211 592,330 -5.6% -4.2%
Refiner 325,724 326,150 317,449 -0.1% 2.6%
Offsite 406,966 473,557 527,704 -14.1% -22.9%
Once refined oil (1,000 lbs) 325,863 310,036 357,828 5.1% -8.9%
SOURCE: National Agriculture Statistics Service

COT — Supplemental Report – Option and Futures Combined Positions as of November 28, 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 832,314
: Positions :
: 102,779 100,635 196,701 318,988 402,916 153,506 35,317 771,974 735,569: 60,340 96,746
: Changes from: November 21, 2017 (Change in open interest: -1,238) :
: 7,965 -7,829 -11,553 -3,353 8,677 5,498 4,482 -1,444 -6,223: 207 4,985
: Percent of Open Interest Represented by Each Category of Trader :
: 12.3 12.1 23.6 38.3 48.4 18.4 4.2 92.8 88.4: 7.2 11.6
: Total Traders: 610 Number of Traders in Each Category :
: 145 169 228 182 217 26 14 487 520:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of November 28, 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 485,484
: Positions :
: 92,695 69,287 110,717 131,387 254,742 118,185 20,999 452,983 455,745: 32,501 29,740
: Changes from: November 21, 2017 (Change in open interest: -29,978) :
: -4,879 14,545 -19,515 583 -22,984 -4,005 -3,356 -27,816 -31,310: -2,161 1,332
: Percent of Open Interest Represented by Each Category of Trader :
: 19.1 14.3 22.8 27.1 52.5 24.3 4.3 93.3 93.9: 6.7 6.1
: Total Traders: 314 Number of Traders in Each Category :
: 83 87 110 77 76 22 11 254 233:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of November 28, 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 439,901
: Positions :
: 75,811 40,358 76,034 135,432 272,966 108,643 20,095 395,920 409,453: 43,981 30,448
: Changes from: November 21, 2017 (Change in open interest: -2,588) :
: 17,868 -3,267 -7,974 -13,047 13,171 1,884 -2,664 -1,268 -735: -1,320 -1,854
: Percent of Open Interest Represented by Each Category of Trader :
: 17.2 9.2 17.3 30.8 62.1 24.7 4.6 90.0 93.1: 10.0 6.9
: Total Traders: 278 Number of Traders in Each Category :
: 68 61 85 91 90 23 12 237 210:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Canola was lower on Friday and lower for the week. The Canadian Dollar moved higher on Friday. Trends are down on the daily charts. Demand is called steady, especially from processors. Exporters are buying too, but the processors have been the best buyers in the market. Farmers are storing crops now as the harvest comes to a close and as they wait for higher prices, but elevators and crusher appear to have good supplies right now. StatsCan will issue its next production estimates on December 6. Palm Oil was lower. Export data last month was weaker, but still positive overall. Weak demand ideas come even though India is talking about increasing imports due to weak oilseeds production there this year. There is a lot of talk that supplies are more than adequate for demand. Charts show that the trends are down
Overnight News:
Chart Analysis: Trends in Canola are down with objectives of 502.00 and 495.00 January. Support is at 504.00, 500.00, and 498.00 January, with resistance at 509.00, 512.00, and 514.00 January. Trends in Palm Oil are down with objectives of 2560 and 2500 February. Support is at 2560, 2540, and 2510 February, with resistance at 2610, 2650, and 2680 February.

DJ Canadian Grain Handling Summary – Dec 1
WINNIPEG–The following are Canadian grain handling summary statistics
for the week ended November 26, 2017. Figures in thousands of metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This week 2828.6 564.1 200.4 339.3 89.5 1445.8 282.6 124.1 6865.2
Week ago 3045.5 570.7 200.5 271.5 92.3 1342.7 268.3 96.6 6817.0
Year ago 2097.5 670.5 152.2 220.8 54.3 1639.8 300.4 217.3 6486.2
PRODUCER DELIVERIES
This Week 406.1 107.1 40.6 95.8 12.0 427.6 21.4 16.4 1212.3
Week Ago 371.8 83.2 37.4 91.9 18.0 347.5 18.0 11.9 1041.1
To Date 6113.1 1190.9 849.7 1018.4 154.1 6856.9 1257.4 159.3 19447.7
Year Ago 5649.1 1519.0 721.0 812.3 101.9 6798.4 2106.5 118.8 20064.4
TERMINAL RECEIPTS
This Week 341.6 109.6 0.2 18.0 6.8 187.5 3.6 47.9 999.8
Week Ago 299.1 99.3 1.0 48.8 5.6 197.1 1.5 54.9 948.1
To Date 6368.7 1619.1 56.8 565.4 66.2 3818.2 849.4 190.1 16816.3
Year Ago 6753.9 1638.1 92.1 310.6 95.4 3668.7 1599.5 295.2 18243.0
EXPORTS
This Week 351.6 115.4 25.5 55.2 2.2 214.4 1.6 41.0 966.9
Week Ago 312.6 117.9 26.5 36.2 0.3 200.2 0.2 48.8 923.0
To Date 5084.0 1301.6 574.5 596.8 84.6 3406.5 887.2 153.5 13988.9
Year Ago 4720.4 1169.2 444.7 273.4 95.8 3050.6 1656.6 195.3 14143.4
DOMESTIC DISAPPEARANCE
This Week 78.1 13.8 4.7 23.6 2.4 208.0 2.9 18.1 425.0
Week Ago 74.1 5.0 3.7 23.7 1.4 206.3 4.7 8.7 412.8
To Date 1802.7 260.7 85.8 416.7 17.3 2881.0 68.2 216.6 6866.3
Year Ago 1005.5 102.5 147.5 443.6 17.0 3072.3 56.9 143.2 5368.0
*Totals include data from other crops not shown including rye soybeans
canary seed mustard seed beans lentils and chickpeas.
**Year Ago values for domestic disappearance and exports do not include
producer car volumes.
Source: Commodity News Service Canada (cnscanada@shaw.ca, or 204-414-9084)

DJ Canadian Oilseed Processors Association Weekly Crush – Dec 1
WINNIPEG–The Canadian Oilseed Processors Association reported
the Canadian oilseed crush for the week ended Nov. 29, 2017 as
follows:
Figures are in metric tons. R-denotes revision.
Cumulative
Week 2016/17 2015/16 2016/17 2015/16
Ended Canola Sybns
Nov 29 186,297 3,013,982 3,046,994 51,135 625,283 668,463
Nov 22 197,599 2,826,674 2,858,121 32,309 574,478 629,373
Nov 15 176,517 2,629,075 2,677,245 50,909 542,169 579,350
Nov 08 195,151 2,452,558 2,472,444 31,845 491,260 547,999
Nov 01 186,758 2,255,048 2,291,178 52,837 459,415 507,311
Crush Capacity Utilization
This week 2016/17 2015/16
Canola 84.0% 84.4% 87.8%
Soybeans 77.0% 59.0% 62.6%
Source: Commodity News Service Canada (cnscanada@shaw.ca,
204-414-9084)

Midwest Weather Forecast: Mostly dry, but a few showers are likely today and late in the week. Temperatures will be below normal.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
December 41 Dec 225 Dec 60 March 27-Jan minus 9 Dec
January 40 March 45 March 35 Jan
February 40 March 43 March 31-Mar
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Paraguay
December 65 Dec
January minus 19 Jan
February 65 Jan minus 18 Mar
All basis levels are positive unless noted as negative

DJ ICE Canada Cash Grain Close – Dec 1
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 490.09 dn 0.80
Basis: Thunder Bay
1 Can 516.10 dn 3.50
2 Can 503.10 dn 3.50
Basis: Vancouver
1 Can 531.10 dn 3.50
2 Can 518.10 dn 3.50
FEED WHEAT
Lethbridge 220.00 unchanged
WESTERN BARLEY
Lethbridge 219.00 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 – December 4
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
Dec 650.00 +02.50 Unquoted – –
Jan 652.50 +02.50 Unquoted – –
Feb/Mar 662.50 +02.50 Unquoted – –
Apr/May/Jun 672.50 +02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Dec 652.50 +02.50 Unquoted – –
Jan 655.00 +02.50 Unquoted – –
Feb/Mar 665.00 +02.50 Unquoted – –
Apr/May/Jun 675.00 +02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Dec 667.50 +02.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Dec 620.00 00.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Dec 2,510 -10.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Dec 327.00 +02.00 Unquoted – –
($1=MYR4.0600)

DJ China Dalian Grain Futures Closing Prices, Volume – Dec 04
Soybean No. 1
Turnover: 131,540 lots, or 4.80 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-18 3,589 3,602 3,570 3,600 3,574 3,587 13 71,306 211,364
Mar-18 3,671 3,687 3,671 3,671 3,636 3,672 36 32 58
May-18 3,710 3,743 3,709 3,735 3,708 3,726 18 59,376 149,962
Jul-18 – – – 3,728 3,728 3,728 0 0 2
Sep-18 3,776 3,815 3,776 3,814 3,782 3,802 20 728 2,394
Nov-18 – – – 3,818 3,818 3,818 0 0 4
Jan-19 3,879 3,899 3,849 3,881 3,872 3,882 10 90 352
Mar-19 – – – 3,884 3,884 3,884 0 0 2
May-19 3,958 3,958 3,955 3,957 3,928 3,957 29 8 30
Corn
Turnover: 619,166 lots, or 10.78 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-18 1,711 1,725 1,711 1,719 1,706 1,718 12 352,402 545,824
Mar-18 1,734 1,734 1,719 1,728 1,718 1,722 4 4,190 10,732
May-18 1,765 1,775 1,763 1,774 1,757 1,770 13 243,880 575,160
Jul-18 1,771 1,780 1,771 1,779 1,770 1,776 6 322 402
Sep-18 1,770 1,787 1,770 1,786 1,767 1,780 13 18,184 101,086
Nov-18 1,780 1,788 1,780 1,787 1,780 1,783 3 188 162
Soymeal
Turnover: 1,496,172 lots, or 42.77 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Dec-17 – – – 2,900 2,900 2,900 0 0 1,428
Jan-18 2,875 2,929 2,872 2,926 2,871 2,909 38 314,414 713,186
Mar-18 2,838 2,875 2,831 2,873 2,827 2,862 35 2,682 3,438
May-18 2,801 2,874 2,801 2,871 2,801 2,845 44 1,119,594 1,824,170
Jul-18 2,798 2,855 2,798 2,855 2,797 2,835 38 166 362
Aug-18 2,796 2,814 2,796 2,814 2,793 2,807 14 8 134
Sep-18 2,791 2,849 2,789 2,849 2,789 2,826 37 59,020 167,304
Nov-18 2,802 2,848 2,802 2,848 2,794 2,830 36 288 208
Palm Oil
Turnover: 390,342 lots, or 21.30 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Dec-17 – – – 5,504 5,504 5,504 0 0 0
Jan-18 5,350 5,386 5,320 5,372 5,336 5,352 16 54,248 117,426
Feb-18 – – – 5,414 5,414 5,414 0 0 2
Mar-18 5,378 5,378 5,378 5,378 5,420 5,378 -42 2 2
Apr-18 – – – 5,518 5,518 5,518 0 0 10
May-18 5,456 5,508 5,436 5,492 5,440 5,472 32 328,162 399,198
Jun-18 – – – 5,500 5,446 5,500 54 0 10
Jul-18 – – – 5,528 5,528 5,528 0 0 2
Aug-18 – – – 5,392 5,362 5,392 30 0 2
Sep-18 5,442 5,496 5,438 5,482 5,436 5,470 34 7,930 38,490
Oct-18 – – – 5,448 5,416 5,448 32 0 0
Nov-18 – – – 5,434 5,434 5,434 0 0 0
Soybean Oil
Turnover: 427,750 lots, or 25.61 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Dec-17 – – – 5,808 5,808 5,808 0 0 0
Jan-18 5,892 5,892 5,824 5,864 5,858 5,850 -8 123,742 407,562
Mar-18 – – – 5,938 5,938 5,938 0 0 16
May-18 6,046 6,066 6,010 6,056 6,036 6,038 2 299,140 581,190
Jul-18 – – – 6,070 6,070 6,070 0 0 2
Aug-18 – – – 6,150 6,150 6,150 0 0 4
Sep-18 6,194 6,214 6,162 6,200 6,172 6,190 18 4,868 22,402
Nov-18 – – – 6,176 6,176 6,176 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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