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 Grain Inspections for Export in Metric Tons – Dec 26
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 DEC 21, 2017
— METRIC TONS —
————————————————————————-
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 12/21/2017 12/14/2017 12/22/2016 TO DATE TO DATE
BARLEY 269 783 807 18,182 28,785
CORN 609,281 636,851 981,879 9,842,026 16,410,681
FLAXSEED 0 0 49 4,673 12,590
MIXED 0 0 0 0 0
OATS 200 799 600 7,187 8,499
RYE 0 0 0 0 0
SORGHUM 85,546 199,291 167,289 1,515,978 1,722,715
SOYBEANS 1,283,200 1,793,007 1,720,590 27,172,986 31,413,519
SUNFLOWER 0 0 0 0 0
WHEAT 493,550 624,942 540,613 14,229,516 15,130,817
Total 2,472,046 3,255,673 3,411,827 52,790,548 64,727,606
————————————————————————-
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 Table of China November Oilseed, Vegoil, Grain Imports
Table of Imports by Grain, Oil Type and Origin
(All figures in metric tons)
Nov Change Jan-Nov Change
in Tons on Year in Tons on Year
Wheat
Total 155,817 +465.43% 4,115,455 +30.61%
Australia 50,838 +430.14% 1,852,789 +45.07%
USA 8,431 -29.17% 1,552,608 +92.95%
Canada 69,633 +4271.19% 434,453 -45.39%
Kazakhstan 21,825 +390.15% 262,556 -4.01%
Russia 5,091 – 12,841 –
Hungary – -100% 208 +985.05%
Barley
Total 641,526 +51.65% 8,282,204 +80.03%
Australia 299,792 -17.85% 6,149,038 +102.74%
Canada 146,043 +155.41% 1,222,230 +111.71%
Ukraine 120,470 – 737,713 +109.15%
France 75,220 – 162,386 -74.45%
Denmark – -100% 10,837 +464.31%
Corn
Total 21,756 -31.18% 2,371,456 -21.61%
Ukraine 1,971 – 1,488,667 -44.04%
USA 5,216 +71.02% 748,196 +254.02%
Laos 14,442 -46.71% 90,524 +56.83%
Myanmar – -100% 40,516 +27.41%
Russia – – 2,226 -96.48%
Bulgaria – – 706 –
Peru 126 +46.51% 260 -34.58%
China 1 – 202 –
Germany – – 81 -47.03%
France – -100% 42 -47.5%
Argentina – – 27 +131.84%
Chile 0 – 8 +335.59%
Rice
Total 310,368 -7.49% 3,567,476 +15.31%
Vietnam 187,088 +45.26% 2,130,123 +39.8%
Thailand 75,959 -15.59% 1,005,750 +37.62%
Pakistan 29,856 -56.78% 192,269 -68.75%
Cambodia 14,018 -32.33% 155,319 +53.52%
Myanmar 500 -94.47% 45,456 -33.29%
Laos 2,822 -84.22% 34,486 -35.04%
Russia – – 3,423 +267.67%
Japan 106 +21036.8% 292 +108.72%
Taiwan 18 – 123 -49.45%
South Korea – – 109 -66.43%
China – – 100 –
India – – 10 –
USA 1 – 10 +80616.67%
Canada – -100% 5 +237400%
Italy 0 – 2 -45.63%
Soybean
Total 8,684,180 +10.83% 85,990,261 +14.78%
Brazil 2,760,485 +280.79% 48,986,831 +29.29%
USA 4,661,950 -17.01% 26,666,126 +2.33%
Argentina 665,030 -37.31% 5,942,154 -25.85%
Uruguay 414,374 +54.59% 2,419,351 +45.62%
Canada 136,707 -7.84% 1,522,224 +63.1%
Russia 42,711 +172.02% 415,377 +17%
Ukraine 571 +84.75% 20,157 +469.63%
Ethiopia 1,781 – 12,849 +5740.44%
Kazakhstan 571 – 4,708 –
China – – 261 +186.54%
Mozambique – – 225 –
Rapeseed
Total 458,959 +50.32% 4,418,883 +32.92%
Canada 416,247 +86.5% 4,231,189 +31.55%
Mongolia 25,720 +96.49% 89,192 +179.33%
Australia – -100% 55,000 -13.02%
Russia 16,992 +192.78% 43,503 +234.48%
Rapeseed Oil
Total 41,984 -42.92% 697,853 +9.3%
Canada 29,315 -58.65% 624,592 +15.19%
Australia 905 +2565.2% 38,887 +30.55%
Russia 5,063 +708.9% 17,293 +49.84%
Kazakhstan 1,972 – 5,659 +33.73%
Ukraine 3,044 +76.81% 4,091 -63.7%
UK – – 3,816 +42990.02%
France 541 – 1,571 -92.87%
UAE 1,029 – 1,029 -74.91%
Spain 28 – 212 +973.82%
Japan 19 +0.96% 210 +25.59%
USA 15 -52.38% 127 +0.25%
Turkey 46 – 106 +40.27%
Germany – -100% 77 -99.3%
Poland – -100% 65 +307314.29%
Malaysia – – 54 -83.25%
Italy – -100% 38 +105.32%
Sweden 7 +28.57% 17 +6.25%
Austria 0 – 6 –
Belgium – – 4 +424.77%
Rapeseed Meal
Total 135,605 +8753.63% 909,402 +114.72%
Canada 135,605 +8753.63% 877,562 +110.67%
Australia – – 19,896 +185.37%
Ethiopia – – 11,944 –
Soyoil
Total 16,137 -79.62% 620,909 +18.6%
Brazil – -100% 338,848 +17.53%
Russia 9,603 +77.22% 103,321 +47.37%
USA 15 -99.98% 83,007 +1.52%
Ukraine 3,358 -36.81% 58,895 -19.1%
Turkey 2,676 +21.07% 29,967 +997.67%
Kazakhstan 408 – 4,036 +1245.37%
Serbia – – 993 +116.34%
Vietnam 77 -7.4% 793 +18.08%
Argentina – – 739 +64.7%
Malaysia – -100% 123 -83.51%
France – – 107 –
Sweden – – 51 +144.54%
Austria – – 17 –
Spain – – 6 –
Japan – – 3 –
Soy Meal
Total 3,860 +328.89% 59,495 +302.82%
India – – 41,377 +1032.36%
Denmark 2,400 +166.67% 10,850 +9.6%
South Korea 1,460 – 6,760 +188990.91%
USA – – 365 –
Taiwan – – 120 -83.58%
Netherlands – – 23 -95.32%
Palm Oil
Total 546,908 +22.57% 4,511,621 +18.77%
Indonesia 375,184 +42.47% 2,850,563 +31.37%
Malaysia 171,615 -6.13% 1,659,611 +2.23%
Thailand 109 – 1,396 +705.45%
Denmark – – 42 –
India – – 4 –
Netherlands – -100% 4 +75%
Germany – – 1 +14.29%
The tables above are based on selected data provided by China’s General Administration of Customs.

DJ Table of China November Oilseed, Vegoil, Grain Exports
Table of Exports by Grain, Oil Type and Destination
(All figures in metric tons)
Nov Change Jan-Nov Change
in Tons on Year in Tons on Year
Wheat
Total 653 +65339900% 654 -93.79%
Ethiopia 653 – 653 -93.8%
Barley
Total 6 +327.68% 52 +54.2%
USA 6 +327.68% 28 +15.78%
Malaysia – – 23 +228.57%
Corn
Total 1,721 +147.49% 79,207 +2890.65%
North Korea 100 -81.64% 50,118 +2381.02%
Japan – – 19,866 –
Netherlands 979 – 4,823 –
Canada 427 – 2,089 –
Laos – – 1,089 –
Mongolia – – 499 –
Vietnam 213 +41.53% 345 +25.06%
Philippines – – 250 –
Russia – – 103 -65.75%
Cameroon – – 11 –
Angola – – 5 -54.55%
Sierra Leone – – 3 -30.56%
Bahamas 0 – 3 –
South Korea – – 2 -90.91%
Togo – – 1 –
Rice
Total 149,032 +122.14% 1,127,631 +152.03%
Ivory Coast 25,872 – 309,200 +419.66%
South Korea 2,000 -93.18% 152,262 -5.49%
Turkey 3,450 +2660% 71,950 +2402.61%
Senegal 8,000 – 66,504 –
Mozambique 33,726 – 61,007 +471.12%
Liberia 20,000 +7900% 59,707 +97.38%
Sierra Leone 2,051 – 59,306 +976934.6%
Guinea-Bissau – – 49,361 –
Cameroon 21,780 – 41,814 +2534081.82%
North Korea 672 -63.95% 34,353 -10.14%
Philippines 3,174 -12.55% 26,812 +136.04%
Guinea – – 13,596 –
Hong Kong 1,569 -11.84% 12,343 -28.99%
Mongolia 1,638 +0.79% 10,822 -13.29%
Kenya – – 10,523 –
Congo(K) – – 10,000 +165189.26%
Gambia – – 9,068 –
Zimbabwe 1,506 -67% 7,906 -59.89%
Lebanon 875 – 7,837 +1467.4%
South Sudan 1,506 – 7,756 +356.24%
Soybean
Total 12,849 -17.81% 98,632 -14.89%
South Korea 7,513 -19.89% 34,423 +13.8%
Japan 2,257 -3.55% 25,806 -4.51%
Netherlands 1,395 +885.01% 8,354 +246.08%
Italy 418 -64.98% 7,986 -32.73%
USA 60 -90.87% 7,822 -70.44%
Taiwan 67 -94.84% 3,976 +7.48%
Denmark 492 – 2,085 +114.87%
Hong Kong 109 -46.1% 2,067 -1.36%
Malaysia 207 +39.16% 1,348 +19.24%
Russia – – 1,319 +90.11%
Spain 167 +35.83% 847 +21.71%
UK 123 +446.03% 615 +174.86%
Belgium – -100% 402 -71.53%
Australia – – 335 -12.17%
India – – 225 –
Vietnam 6 -25% 105 +189.78%
Germany 22 +450% 97 -45.74%
Singapore – -100% 95 -15.15%
Philippines 0 -99.43% 91 +1.23%
North Korea – -100% 91 -85.18%
Rapeseed
Total 0 -78.12% 78 -92.67%
Japan – – 34 +99.68%
South Korea 0 -67.95% 23 +64.29%
Pakistan – – 6 -45.75%
Thailand – – 5 –
Kazakhstan – – 5 +250500%
Taiwan – -100% 3 +1971.03%
Nepal – – 1 +18.8%
Rapeseed Oil
Total 1,392 +28.66% 18,833 +358.07%
Hong Kong 414 -60.98% 15,358 +328.49%
Malaysia 627 – 2,383 –
Singapore 334 +1078190.32% 898 +2895416.13%
Macau 14 +30.5% 128 +29.29%
Mongolia – – 54 -85.46%
Angola – -100% 9 –
South Africa 2 – 2 –
Congo(K) – – 1 –
Rapeseed Meal
Total 1,164 -43.23% 11,012 -89.58%
USA 1,095 +114.68% 6,018 +75.35%
UK – -100% 2,473 +161.28%
Canada 39 -83.65% 1,022 -12.36%
Germany – -100% 981 -76.14%
Japan – – 486 -37.88%
Laos 30 – 30 –
Soyoil
Total 15,006 +88.43% 115,890 +48.74%
North Korea 10,878 +57.32% 89,244 +39.41%
Hong Kong 3,526 +342.42% 19,368 +220.12%
South Korea 48 – 4,271 +3.43%
Singapore 524 – 2,050 +7.11%
Mongolia – -100% 798 -52.75%
Macau 10 -50% 114 –
Bahamas – – 22 –
Malaysia 20 – 20 –
Bangladesh – – 1 –
Taiwan – – 1 –
Cameroon – – 1 –
Cook Islands – – 1 –
Soy Meal
Total 76,327 -38.35% 899,371 -49.59%
Japan 47,258 -44.25% 580,880 -47.44%
Netherlands 6,572 +47.62% 79,931 +16.95%
Denmark 4,671 +7.56% 51,813 +50.51%
USA 4,662 -38.39% 38,849 -46.06%
UK 4,013 -22.36% 37,301 -10.06%
North Korea 1,090 -11.38% 22,886 +140.06%
South Korea 229 -98.13% 15,511 -70.49%
Italy 2,746 +172.91% 13,136 -1.23%
France 1,862 +113.99% 11,253 +68.4%
Canada 365 -8.68% 7,165 -16.93%
Germany – -100% 6,964 -47.85%
Norway 515 – 5,836 +1.52%
Indonesia 60 – 5,700 -84.41%
Vietnam 781 +218.78% 5,471 -97.79%
Spain 427 +863.91% 3,544 -18.99%
Ecuador – -100% 3,073 +16.36%
Australia 12 – 2,630 +66.35%
Sweden – – 1,907 -49.4%
Mongolia 185 – 976 -39.68%
Slovenia 499 – 696 +290.15%
Palm Oil
Total 2,671 +185.25% 15,515 +157.96%
North Korea 1,740 – 7,245 +10624.91%
Hong Kong 468 -7.69% 4,896 +48.82%
Mongolia 463 +7.79% 3,374 +27.99%
The tables above are based on selected data provided by China’s General Administration of Customs.

WHEAT
General Comments: US markets closed a little lower despite forecasts continue for some very cold temperatures to move into the Great Plains this week. The crops in the region are not well established, and the cold would come with little snow cover to protect the crops. Some significant Winterkill is possible, but forecast lows have moderated so big damage potential should be reduced. The weekly charts show that winter wheat price trends remain down, but the holiday trading has turned to sideways price action. The market is also noting dry conditions in western Kansas and other parts of the western Great Plains and the La Nina Winter weather forecast. In fact, a drought has developed in the region and could become serious. The crop has not established itself well due to the dry weather. The market continues to be worried about Russia and its ability to control the world Wheat offer and price. Russia is still exporting a lot of Wheat and has said that it expects another very big crop as the weather going into dormancy in Winter Wheat areas has been very good.
Overnight News: The southern Great Plains should get mostly dry weather, but light precipitation is possible today. Temperatures should be much below normal. Northern areas should see light Snow today, then mostly dry weather. Temperatures should be much below normal late in the week. The Canadian Prairies should see mostly dry weather. Temperatures should trend too much below normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 417, 415, and 411 March, with resistance at 429, 434, and 443 March. Trends in Kansas City are mixed. Support is at 418, 416, and 411 March, with resistance at 428, 433, and 441 March. Trends in Minneapolis are mixed. Support is at 611, 608, and 605 March, and resistance is at 618, 632, and 627 March.

RICE
General Comments: Rice was lower as First Notice Day for January comes at the end of the week. There was a lot of position Rolling from January into March during the day. There was very little selling outright interest noted, so those who need to buy were able to get some good pricing. The situation for Rice remains somewhat bullish at this time. Mercosur countries have had less to offer, and the US has benefitted from the reduced competition. However, year-end export sales have not been strong. Futures remain undervalued in relationship to the US domestic cash market. However, futures often find a top and work lower into January due to increased farm selling that often surfaces in the first part of the year, so any rally attempt now might not go too far in the short to medium term. China imported 1,000 tons of US Rice in November!
Overnight News: The Delta should get mostly dry weather, but showers are likely Friday and Friday. Temperatures should be below too much below normal.
Chart Analysis: Trends are mixed. Support is at 1166, 1148, and 1138 January, with resistance at 1184, 1204, and 1212 January.

DJ USDA World Market Rice Prices – Dec 27
USDA today announced the prevailing world market prices
of milled and rough rice, adjusted for U.S. milling yields
and location, and the resulting marketing loan gain (MLG)
and loan deficiency payment LDP) rates. Source: USDA
—-World Price—– MLG/LDP Rate
Milled Value Rough
($/cwt) ($/cwt) ($/cwt)
Long Grain 15.62 9.95 0.00
Medium/Short Grain 15.23 10.31 0.00
Brokens 9.42 —- —-

CORN AND OATS
General Comments: Corn closed a little higher again and technical traders note that the market is above some moving averages and that some other indicators are turning positive. There are hopes for increased Corn demand from the export market due to cheap prices, and ethanol demand remains good. Mexico bought yesterday. The trade is also looking at the dry weather in southern Brazil and Argentina. Some timely rains were reported Argentina over the weekend, with amounts up to 1.5 inches seen from southern Buenos Aires to Cordoba. Forecasts for this week are hot and dry, but some showers are forecast for this weekend with only light amounts and por coverage expected. Some crop losses are increasingly possible. Ideas of big supplies and less than great demand keep pulling the market down fundamentally, but it has been the funds who have established a huge and near record short position in futures. They could cover part of this position this week. Farmers are not selling much Corn even in the last part of the harvest due to weak basis and futures price levels. Basis levels have improved, but farmer offers remain down due to the weaker futures prices. Not much selling is reported in South America. La Nina has started and could create dry weather in South America that could really hurt yields.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 349, 346, and 343 December, and resistance is at 354, 360, and 361 March. Trends in Oats are mixed. Support is at 240, 236, and 233 March, and resistance is at 247, 252, and 257 March.

SOYBEANS AND PRODUCTS
General Comments: Soybeans were higher on speculative short covering and on ideas that Soybeans production in southern Brazil and Argentina are still suffering. Speculators added to short positions in the data last week and now seem ready to cover at least part of these sales. It has been hot and dry in these areas, although some good rains were reported in some of the important growing areas from Buenos Aires into Cordoba over the weekend. Forecasts for this week call for drier conditions again, and just light showers are forecast for this weekend. Planting has been stalled in some areas on continued reports of drought in far southern Brazil and parts of Argentina. Soybeans have been stronger due to fears of potential crop losses in southern Brazil and Argentina. US prices are now cheap enough that China is buying much more from the US. Brazil has been able to capture more business that otherwise would have gone to the US due to the huge crop last year. However, US Soybeans are very well priced right now and demand news over the last couple of weeks has improved. Ideas are that the market is oversold at this time and that a good rally into the end of the year is possible.
Overnight News: China bought 110,000 tons of US Soybeans.
Chart Analysis: Trends in Soybeans are mixed to down with no objectives. Support is at 952, 948, and 941 January, and resistance is at 964, 968, and 972 January. Trends in Soybean Meal are down with objectives of 310.00 January. Support is at 312.00, 309.00, and 306.00 January, and resistance is at 315.00, 320.00, and 324.00 January. Trends in Soybean Oil are mixed to down with objectives of 3190, 3170, and 3090 January. Support is at 3280, 3250, and 3240 January, with resistance at 3350, 3360, and 3380 January.

CANOLA AND PALM OIL
General Comments: Canola was closed for Boxing Day it remains very cold in the Prairies and farmers are not willing sellers. Farmers are storing crops now as the harvest is over and as they wait for higher prices, but elevators and crusher appear to have good supplies right now. Palm Oil was higher along with Chicago and on bigger demand ideas. Recent export data from the private surveyors showed that exports are now above month ago levels for the first time in several months. A stronger Malaysian Riggit recently has also been a bearish factor. Ideas are that production could be as strong as in any month in the last couple of years. There is a lot of talk that supplies are more than adequate for demand.
Overnight News: SGS said that Malaysian Palm Oil exports are now 1.108 million tons, from 1.094 million last month. ITS said that exports were 1.090 million tons, from 1.079 million last month.
Chart Analysis: Trends in Canola are mixed to up with objectives of 501.00 and 507.00 January. Support is at 495.00, 490.00, and 484.00 January, with resistance at 498.00, 503.00, and 504.00 January. Trends in Palm Oil are down with objectives of 2400 and 2300 March. Support is at 2450, 2440, and 2410 March, with resistance at 2500, 2530, and 2560 March.

DJ Canadian Oilseed Processors Association Weekly Crush – Dec 22
WINNIPEG–The Canadian Oilseed
Processors Association reported the Canadian oilseed crush for the week
ended Dec. 20, 2017 as follows:
Figures are in metric tons. R-denotes revision.
Cumulative
Week 2017/18 2016/17 2017/18 2016/17
Ended Canola Sybns
Dec 20 201 677 3,588,571 3,597,531 31,042 731,035 780,871
Dec 13 182 592 3,386,894 3,386,894 50,025 699,993 733,769
Dec 06 196,846 3,204,411 3,246,678 32,763 651,563 697,403
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
Crush Capacity Utilization
This week 2017/18 2016/17
Canola 90.9% 85.7% 88.4%
Soybeans 47.2% 58.8% 62.4%
Source: Commodity News Service Canada (cnscanada@shaw.ca, or 204-414-
9084)

DJ Canadian Grain Handling Summary – Dec 22
WINNIPEG–The following are Canadian grain handling summary statistics
for the week ended December 17, 2017. Figures in thousands of metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This week 3094.1 652.8 206.5 320.6 103.7 1454.4 285.6 143.1 7154.6
Week ago 2935.5 707.9 203.0 298.2 123.8 1503.6 260.8 133.3 6998.9
Year ago 2126.2 723.9 214.9 225.8 59.5 1549.3 268.5 255.8 6267.6
PRODUCER DELIVERIES
This Week 387.1 91.2 41.8 63.9 16.8 475.2 38.8 18.3 1216.2
Week Ago 344.0 118.0 47.7 56.8 12.1 375.9 23.4 15.4 1083.4
To Date 7314.8 1530.0 976.0 1195.6 200.6 8141.2 1357.8 212.5 23088.7
Year Ago 6757.1 1904.3 868.4 976.1 130.1 8136.5 2265.9 142.5 23699.6
TERMINAL RECEIPTS
This Week 337.4 122.9 4.3 45.1 9.4 282.1 26.0 45.5 1149.7
Week Ago 330.7 80.1 7.8 45.6 10.1 271.0 12.2 36.9 905.3
To Date 7485.5 1952.6 75.8 699.1 109.0 4649.2 889.3 370.0 20214.1
Year Ago 7677.0 2116.7 120.3 423.6 109.0 4496.9 1719.2 369.4 21304.4
EXPORTS
This Week 367.4 87.3 33.2 47.7 10.0 375.7 4.2 70.8 1137.3
Week Ago 319.4 75.8 30.3 55.3 25.6 234.8 37.7 48.7 910.1
To Date 6187.2 1476.7 661.1 724.9 121.8 4210.0 930.2 294.3 17095.6
Year Ago 5426.1 1466.0 507.8 378.1 116.5 3810.2 1781.4 229.5 16900.9

DOMESTIC DISAPPEARANCE
This Week 105.8 25.2 4.5 26.8 1.7 186.4 5.0 17.8 456.9
Week Ago 91.6 10.2 4.6 20.4 1.3 138.3 3.8 16.0 318.2
To Date 2092.1 316.0 103.0 489.9 22.1 3405.5 84.6 270.3 8150.4
Year Ago 1183.5 122.4 166.6 524.8 21.0 3687.2 65.6 168.8 6398.5
*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)

Midwest Weather Forecast: Very cold with some chances for Snow from Thursday to Sunday.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
December 30-Mar 225 March 45 March 368 Jan minus 9 Jan
January 35 March 50 March 41 Jan
February 41 March 50 March 35 March
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Paraguay
December
January
February 75 Mar minus 21 Mar
All basis levels are positive unless noted as negative

DJ ICE Canada Cash Grain Close – Dec 21
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
NOTE: Revised report that was sent at 15:48 EDT.
Price Change
CANOLA
*Par Region 480.71 up 1.91
Basis: Thunder Bay
1 Can 502.10 dn 2.70
2 Can 489.10 dn 2.70
Basis: Vancouver
1 Can 517.10 dn 2.70
2 Can 504.10 dn 2.70
FEED WHEAT
Lethbridge 221.00 unchanged
WESTERN BARLEY
Lethbridge 223.00 unchanged
All prices in Canadian dollars per metric ton.
*Quote for previous day
Source: Commodity News Service Canada (cnscanada@shaw.ca
204-414-9084)

DJ Malaysian PM Cash Market Prices for Palm Oil – December 22
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Friday, 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
Jan 610.00 -02.50 Unquoted – –
Feb/Mar 622.50 -02.50 Unquoted – –
Apr/May/Jun 632.50 00.00 Unquoted – –
Jul/Aug/Sep 627.50 00.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 612.50 -02.50 Unquoted – –
Feb/Mar 625.00 -02.50 Unquoted – –
Apr/May/Jun 635.00 00.00 Unquoted – –
Jul/Aug/Sep 630.00 00.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 612.50 -02.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jan 595.00 00.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 2,410 00.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 285.00 -06.00 Unquoted – –
($1=MYR4.0790)

DJ China Dalian Grain Futures Closing Prices, Volume – Dec 27
Soybean No. 1
Turnover: 94,498 lots, or 3.43 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-18 3,310 3,310 3,276 3,280 3,301 3,286 -15 8,874 38,752
Mar-18 3,369 3,379 3,350 3,359 3,368 3,357 -11 424 970
May-18 3,666 3,683 3,655 3,670 3,674 3,667 -7 83,144 218,516
Jul-18 – – – 3,681 3,681 3,681 0 0 6
Sep-18 3,714 3,715 3,693 3,706 3,710 3,703 -7 1,992 13,662
Nov-18 – – – 3,764 3,764 3,764 0 0 4
Jan-19 3,799 3,799 3,780 3,785 3,796 3,792 -4 50 1,190
Mar-19 – – – 3,835 3,835 3,835 0 0 10
May-19 3,875 3,875 3,862 3,862 3,868 3,870 2 14 32
Corn
Turnover: 471,468 lots, or 8.54 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-18 1,739 1,765 1,739 1,752 1,741 1,755 14 32,442 66,126
Mar-18 1,774 1,780 1,773 1,779 1,770 1,777 7 1,366 14,050
May-18 1,816 1,823 1,813 1,816 1,808 1,817 9 387,366 1,048,018
Jul-18 1,818 1,822 1,813 1,813 1,817 1,817 0 142 1,040
Sep-18 1,790 1,797 1,789 1,792 1,789 1,792 3 50,082 253,148
Nov-18 1,801 1,802 1,798 1,801 1,801 1,801 0 70 678
Soymeal
Turnover: 792,920 lots, or 22.41 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-18 2,915 2,923 2,902 2,917 2,902 2,914 12 34,026 74,444
Mar-18 2,872 2,877 2,863 2,873 2,861 2,868 7 7,514 2,770
May-18 2,822 2,830 2,811 2,824 2,814 2,822 8 695,078 1,938,862
Jul-18 2,819 2,828 2,819 2,828 2,821 2,821 0 100 728
Aug-18 – – – 2,804 2,804 2,804 0 0 134
Sep-18 2,806 2,818 2,800 2,813 2,802 2,808 6 56,090 221,854
Nov-18 2,812 2,822 2,808 2,819 2,811 2,812 1 110 492
Dec-18 2,792 2,792 2,792 2,792 2,786 2,792 6 2
Palm Oil
Turnover: 328,262 lots, or 17.14 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-18 5,008 5,050 5,002 5,050 5,000 5,024 24 5,784 12,844
Feb-18 – – – 5,072 5,048 5,072 24 0 4
Mar-18 – – – 5,050 5,026 5,050 24 0 2
Apr-18 – – – 5,154 5,130 5,154 24 0 24
May-18 5,206 5,250 5,192 5,232 5,174 5,222 48 310,280 544,010
Jun-18 – – – 5,306 5,306 5,306 0 0 10
Jul-18 – – – 5,230 5,210 5,230 20 0 0
Aug-18 – – – 5,226 5,178 5,226 48 0 2
Sep-18 5,260 5,302 5,252 5,286 5,234 5,280 46 12,198 54,448
Oct-18 – – – 5,230 5,230 5,230 0 0 0
Nov-18 – – – 5,254 5,210 5,254 44 0 10
Dec-18 – – – 5,374 5,328 5,374 46 0 0
Soybean Oil
Turnover: 318,960 lots, or 18.11 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-18 5,322 5,360 5,322 5,360 5,324 5,346 22 19,824 42,890
Mar-18 5,494 5,494 5,414 5,470 5,472 5,454 -18 52 78
May-18 5,690 5,718 5,656 5,706 5,666 5,690 24 284,632 911,116
Jul-18 – – – 5,768 5,768 5,768 0 0 6
Aug-18 – – – 5,780 5,770 5,780 10 0 10
Sep-18 5,838 5,870 5,812 5,864 5,822 5,846 24 14,452 52,174
Nov-18 – – – 5,842 5,820 5,842 22 0 6
Dec-18 – – – 6,056 6,056 6,056 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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