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 – Jan 12
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL January Jan. 16, 2018 47 Jan 10, 2018
SOYBEAN OIL January Jan. 16, 2018 46 Jan 11, 2018
ROUGH RICE January Jan. 16, 2018 10 Jan 11, 2018
SOYBEAN January Jan. 16, 2018 63 Jan 11, 2018

DJ Brazil Raises 2017-2018 Soybean, Corn Crop Forecasts, Citing Good Weather
By Jeffrey T. Lewis
SAO PAULO–Brazilian agriculture agency Conab raised its estimates for the country’s soybean and corn harvests in the 2017-2018 growing season as good weather helped the crops.
Brazilian farmers will produce 110.4 million metric tons of soybeans in the season, Conab said Thursday, up from its forecast of 109.2 million tons in December. Brazil produced a record 114.1 million tons of soybeans in the 2016-2017 season.
Conab forecast a total corn crop of 92.3 million metric tons in the 2017-2018 season, up from the 92.2 million tons the agency forecast in December, though less than the 97.8 million tons produced in 2016-2017.
Brazil’s mild winters permit the country’s farmers to grow two crops of corn a year.

DJ Survey: USDA U.S. Winter Wheat Seedings Estimates
CHICAGO–The following are analysts’ estimates in millions of acres for 2018-19 U.S. winter wheat that was planted in October and November, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release its report at noon ET on Friday.
U.S. 2018-19 U.S. Winter Wheat Seedings Estimates
Average Range USDA 2017-18
All Winter Wheat 31.4 30.1 – 32.0 32.7
Hard Red Winter 22.4 21.1 – 22.9 23.4
Soft Red Winter 5.5 5.2 – 5.9 5.7
White Winter 3.5 3.1 – 3.8 3.5
All Winter Hard-Red Soft-Red White
Advanced Market 31.8 22.9 5.5 3.4
Agrivisor 31.4 22.4 5.5 3.5
Allendale 31.8 22.8 5.5 3.5
DC Analysis 31.2 22.3 5.4 3.5
Doane 30.1 21.1 5.6 3.4
EDFMan Capital 31 22 5.5 3.5
Farm Futures 31.2 22.9 5.2 3.1
INTL FCStone 31.2 21.9 5.9 3.4
Linn 31.7 22.7 5.5 3.5
Sid Love Consulting 32 22.6 5.9 3.5
MaxYield 31.5
Price Group 30.9 21.9 5.5 3.5
Prime-Ag 31.5 22.5 5.5 3.5
RJ O’Brien 31.2 22.2 5.5 3.5
U.S. Commodities 31.7 22.7 5.6 3.4
Vantage RM 31 22.1 5.5 3.5
Western Milling 31.8 22.6 5.4 3.8
Zaner Ag Hedge 31.8 22.6 5.7 3.5

DJ Survey: Dec. 1 Quarterly Grain, Soybean Stockpiles Estimates
CHICAGO–The following are analysts’ estimates in millions of bushels for December 1 quarterly U.S. grain and soybean stockpiles, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated tables at noon ET on Friday.
U.S. Stockpiles on Dec. 1, 2017 (million bushels)
USDA
Average Range Sept. 2017 Dec. 2016
Corn 12,407 12,230 – 12,675 2,295 12,386
Soybeans 3,186 2,963 – 3,305 301 2,898
Wheat 1,849 1,795 – 1,906 2,253 2,077
Corn Soybeans Wheat
Advanced Market 12,460 3,210 1,824
Agrivisor 12,330 3,175 1,830
Allendale 12,453 3,166 1,837
DC Analysis 12,458 3,203 1,878
Doane 12,420 3,185 1,845
EDFMan Capital 12,365 3,260 1,795
Farm Futures 12,675 3,158 1,892
INTL FCStone 12,270 3,305 1,864
Sid Love Consul 12,250 3,296 1,906
MaxYield 12,400 3,100 1,900
Price Group 12,345 3,150 1,835
Prime-Ag 12,400 3,175 1,850
RJ O’Brien 12,457 3,213 1,834
U.S. Commoditie 12,230 3,197 1,830
Vantage RM 12,562 2,963 1,821
Western Milling 12,343 3,225 1,809
Zaner Ag Hedge 12,495 3,173 1,889

DJ January 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 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 Friday at noon ET.
World Stockpiles (million metric tons)
2017-18 USDA
Average Range December
Corn 202.9 198.5-205.8 204.1
Soybeans 99.1 97.0-100.5 98.3
Wheat 267.9 265.0-271.0 268.4
2017-18
Corn Soybeans Wheat
Advanced Market 205.8 99.3 267.8
Agrivisor 200.0 97.5 268.0
Allendale 202.8 99.8 268.6
Doane 204.0 99.0 267.0
Farm Futures 204.0 97.0 268.0
Futures INTL 203.8 99.0 271.0
Hueber Report 203.1 98.2 268.1
INTL FCStone 198.5 100.4 266.7
MaxYield 205.0 100.5 265.0
Northstar 205.0 99.0 269.5
Prime-Ag 204.0 100.0 270.0
RMC 204.0 98.3 268.4
US Commodities 203.0 99.0 269.0
Western Milling 200.0 99.0 265.0
Zaner Ag Hedge 199.9 100.4 266.8

DJ U.S. January Grain, Soybean Stockpiles Estimates — Survey
CHICAGO–The following are analysts’ estimates in millions of bushels for U.S. ending stockpiles for 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 Friday at noon ET.
U.S. 2017-18 Stockpiles (millions)
USDA
Average Range December 2016-17
Corn 2,414 2,263-2,519 2,437 2,295
Soybeans 477 425-595 445 301
Wheat 962 855-987 960 1,181
2017-18
Corn Soybeans Wheat
Advanced Market 2,450 455 960
Agrivisor 2,330 450 960
Allendale 2,415 543 972
DC Analysis 2,327 486 986
Doane 2,401 460 980
Farm Futures 2,432 444 948
Futures INTL 2,453 496 982
Hueber Report 2,365 442 962
INTL FCStone 2,394 531 986
Linn 2,295 595 937
Sid Love Consulting 2,459 470 960
MaxYield 2,380 425 970
Northstar 2,500 465 980
Price Group 2,263 470 960
Prime-Ag 2,442 450 960
RJ O’Brien 2,465 498 980
RMC 2,437 445 960
US Commodities 2,477 484 855
Vantage RM 2,460 455 970
Western Milling 2,519 491 987
Zaner Ag Hedge 2,435 470 950

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 on Friday at noon ET.
U.S. Corn, Soybean Production (million bushels)
USDA
Average Range November 2016
Corn Production 14,557 14,434-14,663 14,578 15,148
Corn Yield 175.2 173.7-176.4 175.4 174.6
Harvested Acres 83.1 82.9-83.2 83.1 86.7
Soybean Production 4,425 4,385-4,466 4,425 4,296
Soybean Yield 49.4 49.0-49.9 49.5 52.0
Harvested Acres 89.5 89.4-89.9 89.5 82.7
Corn Soybean
Production Yield Harvested Production Yield Harvested
Acres
Advanced Market 14,600 175.7 83.1 4,441 49.4 89.9
Agrivisor 14,471 174.1 83.1 4,415 49.3 89.5
Allendale 14,545 175.4 83.0 4,410 49.3 89.5
DC Analysis 14,592 175.6 83.1 4,425 49.5 89.5
Doane 14,546 175.0 83.1 4,425 49.5 89.5
Farm Futures 14,663 176.2 83.2 4,404 49.0 89.9
Futures INTL 14,568 175.2 83.1 4,421 49.4 89.5
Hueber Report 14,503 175.0 82.9 4,417 49.4 89.4
INTL FCStone 14,434 173.7 N/A 4,466 49.9 N/A
Linn 14,600 N/A N/A 4,440 N/A N/A
Sid Love Consultin 14,600 175.7 83.1 4,425 49.5 89.5
MaxYield 14,600 175.6 83.1 4,450 49.8 89.5
North Star 14,645 176.4 83.1 4,425 49.5 89.5
Price Group 14,453 173.9 83.1 4,410 49.2 89.5
Prime-Ag 14,608 176.0 83.0 4,405 49.2 89.5
RJ O’Brien 14,630 176.0 N/A 4,448 49.7 N/A
RMC 14,526 174.8 N/A 4,425 49.5 N/A
US Commodities 14,592 175.6 83.1 4,439 49.6 89.5
Vantage RM 14,578 175.4 83.1 4,425 49.5 89.5
Western Milling 14,459 174.0 N/A 4,430 49.5 N/A
Zaner Ag Hedge 14,476 174.2 83.1 4,385 49.0 89.5

WHEAT
General Comments: US markets closed a little lower yesterday in consolidation trading. Prices remain generally firm on ideas of reduced planted area for Winter Wheat this year. The funds remain very short the market and have been covering a part of these positions. It remains dry in most of the Great Plains, and temperatures are cold again. The crops in the region are not well established. There are no forecasts for significant precipitation in the Great Plains for now. Less concern was heard about Midwest crops as these crops have had snow cover, although the snow is melting this week. The Midwest is also turning colder again, although no extreme cold is forecast. The daily and weekly charts show that Winter Wheat trends are turning up. Minneapolis is showing up trends on the daily charts. USDA will issue its Winter Wheat plantings reports along with new supply and demand estimates tomorrow. Price Group expects all Winter Wheat area at only 30.65 million acres. Hard Red Winter area could be 21.89 million acres and Soft Red Winter area could be 21.89 million acres. Quarterly stocks could be about1.835 billion bushels, and USDA should leave its ending stocks estimates unchanged at 960 million bushels.
Overnight News: The southern Great Plains should get mostly dry weather. Temperatures should be below normal. Northern areas should see mostly dry weather. Temperatures should be below normal. The Canadian Prairies should see mostly dry weather. Temperatures should average much below normal.
Chart Analysis: Trends in Chicago are mixed to up with objectives of 462 and 486 March. Support is at 429, 424, and 421 March, with resistance at 437, 443, and 445 March. Trends in Kansas City are mixed to up with objectives of 446, 462, and 464 March. Support is at 436, 431, and 424 March, with resistance at 442, 451, and 486 March. Trends in Minneapolis are mixed to up with no objectives. Support is at 628, 621, and 617 March, and resistance is at 634, 646, and 651 March.

RICE
General Comments: Rice prices closed lower in light volume trading and in response to a very por week of export sales. Net sales were justo ver 1,000 tons due to weak demand and a cancellation of 15,000 tons from Iraq.. Trading is slow as the market waits for the USDA reports that will be released this morning and as the domestic cash market remains slow. The situation for Rice remains somewhat bullish at this time. USDA will issue its latest production and supply and demand reports on Friday. Little overall change is expected on production. Demand has been at least as strong as expected and USDA could increase export demand slightly and reduce ending stocks slightly.
Overnight News: The Delta should get rain and snow today, then dry weather. Temperatures should be below normal again.
Chart Analysis: Trends are mixed to down with objectives of 1160, 1142, and 1135 March. Support is at 1170, 1161, and 1157 March, with resistance at 1185, 1195, and 1200 March.

CORN AND OATS
General Comments: Corn closed near unchanged once again. Prices remain near the bottom end of the recent trading range. Oats were firm and trends are still mostly up. There are hopes for increased Corn demand from the export market due to cheap prices, and ethanol demand remains good overall as energy and petroleum prices move higher. The trade continues to monitor the dry weather in southern Brazil and Argentina, and opinions are mixed. Forecasts for this week are mostly hot and dry, but some showers are possible in the driest areas of Argentina and southern Brazil next week. Some crop losses are increasingly possible and the La Nina conditions imply short soil moisture conditions for most of the growing season. USDA will issue its latest production and supply and demand estimates at the end of the week. Price Group expects USDA to estimate Corn production a little lower at 14.453 billion bushels on a yield of 173.9 bushels per acre. Ending stocks should be near 2.263 billion bushels.
Overnight News: Unknown destinations bought 320,000 tons of US Corn.
Chart Analysis: Trends in Corn are mixed to down with objectives of 345 and 341 March. Support is at 347, 343, and 340 March, and resistance is at 352, 354, and 360 March. Trends in Oats are mixed to up with objectives of 255, 260, and 264 March. Support is at 260, 247, and 243 March, and resistance is at 254, 257, and 260 March.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and products were lower on fund selling. Traders expect bearish reports for Soybeans today from USDA and are also watching the weather in South America. The trade anticipates that USDA will cut export demand estimates on Friday due to the lower level of export sales through this week. USDA could easily cut 50 million bushels from the demand estimates due to the reduced export pace, and some say that the lost export demand could be doublé that total. Lost demand could push Soybeans ending stocks well above 500 million bales. There is talk that Soybeans will need to trade well below $9.00 per bushel in an attempt to cut US crop production in the coming year. Ideas that Soybeans production in southern Brazil and Argentina are still suffering from dry weather are still the main features of the market. However, there are rains forecast for next week in the driest areas, so some of the recent buyers started to sell. Speculators remain very short in Soybeans and added to these positions yesterday. USDA will issue its production and supply and demand estimates on Friday. Price Group expects production near 4.425 billion bushels with an average national yield of 49.5 bushels per acre. Soybeans quarterly stocks are estimated at 3.150 billion bushels and ending stocks are estimated at 470 million bushels.
Overnight News:
Chart Analysis: Trends in Soybeans are down with objectives of 948, 945, and 939 March. Support is at 949, 944, and 938 March, and resistance is at 961, 968, and 970 March. Trends in Soybean Meal are down with objectives of 313.00, 306.00, and 199.00 March. Support is at 312.00, 309.00, and 305.00 March, and resistance is at 318.00, 320.00, and 323.00 March. Trends in Soybean Oil are mixed. Support is at 3300, 3270, and 3250 March, with resistance at 3370, 3280, and 3410 March.

CANOLA AND PALM OIL
General Comments: Canola was lower yesterday. The market is watching Brazil and as vegetable oils markets worldwide. Farmers are selling in small to moderate amounts and cash markets inside Canada are reported mostly quiet. Export demand is said to be quiet due to the strength in the Canadian Dollar. Palm Oil was lower on action in the other vegetable oils markets and in delayed reaction to the monthly MPOB data that showed production increasing more than demand. Demand can remain strong as the Malaysian government has cancelled export tariffs for now. The market has been strong recently due to good export demand, so the elimination of taxes should mean higher prices paid internally to producers and processors. Speculators appeared to be the best buyers as chart trends turned up. Recent export data from the private surveyors showed that exports were above month ago levels for the first time in several months. 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:
Chart Analysis: Trends in Canola are mixed to down with objectives of 485.00 March. Support is at 490.00, 485.00, and 484.00 January, with resistance at 498.00, 500.00, and 502.00 January. Trends in Palm Oil are mixed to down with objectives of 2400 and 2300 March. Support is at 2560, 2550, and 2510 March, with resistance at 2610, 2630, and 2650 March.

Monthly MPOB Supply and Demand Report:
Observation period : December
Frequency : Monthly
Release date : Wednesday, 10 Jan
Forecast as follows:
Production – 1.82 mil tonnes, Down 6.6%
Exports – 1.46 mil tonnes, Up 7.8%
Ending Stocks – 2.69 mil tonnes, Up 5.1%
Actual as follows:
Production – 1.83 mil tonnes, Down 5.6%
Exports – 1.42 mil tonnes, Up 4.9%
Ending Stocks – 2.73 mil tonnes, Up 7.0%
Prior reading as follows:
Production – 1.94 mil tonnes, Down 3.3%
Exports – 1.35 mil tonnes, Down 11.9%
Ending Stocks – 2.19 mil tonnes, Up 16.0%

Midwest Weather Forecast: Very cold again after today with some chances for Snow on Thursday and Friday,

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
January 48 March 230 March 55 March 42 March 1-Mar
February 47 March 50 March 36 March
March 45 March 54 March 34 March
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Paraguay
January 83 March minus 12 March
February 76 March minus 17 March
March 65 March minus 19 May
All basis levels are positive unless noted as negative

DJ ICE Canada Cash Grain Close – Jan 11
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 475.60 dn 2.80
Basis: Thunder Bay
1 Can 500.80 dn 2.80
2 Can 487.80 dn 2.80
Basis: Vancouver
1 Can 516.80 dn 2.80
2 Can 503.80 dn 2.80
FEED WHEAT
Lethbridge 222.00 unchanged
WESTERN BARLEY
Lethbridge 220.00 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 – January 12
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 652.50 -07.50 Unquoted – –
Feb 652.50 -07.50 Unquoted – –
Mar 657.50 -10.00 Unquoted – –
Apr/May/Jun 660.00 -07.50 Unquoted – –
Jul/Aug/Sep 650.00 -05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 655.00 -07.50 Unquoted – –
Feb 655.00 -07.50 Unquoted – –
Mar 660.00 -10.00 Unquoted – –
Apr/May/Jun 662.50 -07.50 Unquoted – –
Jul/Aug/Sep 652.50 -05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 665.00 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jan 625.00 -05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 2,520.00 -20.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 303.00 -07.00 Unquoted – –
($1=MYR3.9695)

DJ China Dalian Grain Futures Closing Prices, Volume – Jan 12
Soybean No. 1
Turnover: 114,798 lots, or 4.18 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-18 3,190 3,199 3,120 3,120 3,125 3,135 10 1,064 5,516
Mar-18 3,206 3,218 3,186 3,192 3,218 3,198 -20 1,742 14,404
May-18 3,662 3,674 3,638 3,644 3,670 3,650 -20 107,892 238,806
Jul-18 3,703 3,703 3,650 3,650 3,703 3,676 -27 4 2
Sep-18 3,729 3,731 3,695 3,698 3,724 3,708 -16 3,974 18,100
Nov-18 – – – 3,738 3,738 3,738 0 0 4
Jan-19 3,807 3,807 3,777 3,781 3,804 3,782 -22 96 1,510
Mar-19 – – – 3,859 3,859 3,859 0 0 6
May-19 3,872 3,885 3,862 3,862 3,880 3,867 -13 26 166
Corn
Turnover: 369,250 lots, or 6.71 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-18 – – – 1,830 1,830 1,830 0 0 76
Mar-18 1,809 1,822 1,809 1,821 1,827 1,816 -11 17,238 23,184
May-18 1,823 1,827 1,814 1,827 1,822 1,820 -2 304,176 1,044,666
Jul-18 1,855 1,855 1,816 1,823 1,825 1,821 -4 62 1,138
Sep-18 1,797 1,804 1,791 1,802 1,797 1,797 0 47,744 302,796
Nov-18 1,792 1,795 1,790 1,795 1,792 1,792 0 30 828
Soymeal
Turnover: 862,970 lots, or 23.62 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-18 – – – 2,825 3,005 2,825 -180 0 700
Mar-18 2,812 2,814 2,785 2,792 2,821 2,809 -12 16,930 7,092
May-18 2,759 2,759 2,725 2,729 2,755 2,737 -18 710,122 1,973,420
Jul-18 2,760 2,763 2,733 2,737 2,759 2,740 -19 104 858
Aug-18 2,736 2,736 2,713 2,719 2,763 2,722 -41 10 136
Sep-18 2,745 2,746 2,715 2,716 2,747 2,725 -22 135,728 455,120
Nov-18 2,748 2,748 2,728 2,728 2,760 2,735 -25 76 648
Dec-18 – – – 2,730 2,730 2,730 0 0 24
Palm Oil
Turnover: 315,340 lots, or 16.65 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-18 5,190 5,190 5,190 5,190 5,200 5,190 -10 142 3,524
Feb-18 – – – 5,262 5,272 5,262 -10 0 6
Mar-18 – – – 5,274 5,284 5,274 -10 0 2
Apr-18 – – – 5,332 5,342 5,332 -10 0 20
May-18 5,306 5,318 5,250 5,262 5,336 5,280 -56 297,810 511,500
Jun-18 – – – 5,340 5,396 5,340 -56 0 8
Jul-18 5,058 5,264 5,058 5,252 5,316 5,190 -126 6 6
Aug-18 – – – 5,228 5,354 5,228 -126 0 2
Sep-18 5,324 5,338 5,274 5,284 5,356 5,294 -62 17,382 76,500
Oct-18 – – – 5,294 5,294 5,294 0 0 0
Nov-18 – – – 5,332 5,394 5,332 -62 0 10
Dec-18 – – – 5,492 5,556 5,492 -64 0 0
Soybean Oil
Turnover: 361,922 lots, or 20.88 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-18 – – – 5,416 5,428 5,416 -12 0 2,296
Mar-18 – – – 5,544 5,544 5,544 0 0 52
May-18 5,776 5,794 5,722 5,738 5,788 5,748 -40 311,992 890,050
Jul-18 5,866 5,866 5,824 5,824 5,908 5,854 -54 8 14
Aug-18 – – – 5,868 5,868 5,868 0 0 10
Sep-18 5,910 5,926 5,860 5,882 5,926 5,880 -46 49,914 123,730
Nov-18 5,962 5,982 5,962 5,982 6,016 5,970 -46 8 14
Dec-18 – – – 5,960 5,960 5,960 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. ©2018

Questions? Ask Jack Scoville today at 312-264-4322         A Subsidiary of Price Holdings, Inc. – a Diversified Financial Services Firm. Member NIBA, NFA 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. ©2018