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 – Mar 7
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL March Mar. 08, 2018 135 Mar 02, 2018
SOYBEAN OIL March Mar. 08, 2018 35 Mar 01, 2018
ROUGH RICE March Mar. 08, 2018 6 Feb 28, 2018
CORN March Mar. 08, 2018 67 Feb 27, 2018
KC HRW WHEAT March Mar. 08, 2018 7 Mar 01, 2018
OATS March Mar. 08, 2018 2 Mar 01, 2018

DJ U.S. January Grain Exports-Mar 7
In kilograms (top) and in bushels (bottom), except flour in cwt and malt
in pounds. /1 denotes includes commercial and donated. Source: U.S. Department
of Commerce.
(*)NOTE: Year ago figures reflect data reported at that time.
Data includes Exports and Re-Exports.
——- In Kilograms ——-
Jan 18 Dec 17 Nov 17 Jan 17(*)
Barley 1,761,118 7,090,655 3,605,428 1,009,320
Corn /1 3,839,485,000 3,568,321,000 2,594,626,000 4,623,482,000
Sorghum 630,737,000 452,153,000 637,792,000 1,011,899,000
Oats 2,627,032 2,632,526 2,633,243 2,945,737
Rye 15,101 489,000 101,000 32,979
Wheat /1 1,811,475,212 2,158,726,395 1,397,094,442 1,915,976,574
wheat flour /1 18,712,134 21,284,402 16,732,702 32,006,047
Malt 30,083,178 39,537,596 38,306,618 37,343,187
——- In Bushels, CWT or Pounds ——-
Jan 18 Dec 17 Nov 17 Jan 17(*)
Barley 80,887 325,668 165,594 46,357
Corn /1 151,152,296 140,477,151 102,144,865 182,016,578
Sorghum 24,830,764 17,800,295 25,108,504 39,836,295
Oats 180,986 181,365 181,414 202,943
Rye 594 19,251 3,976 1,298
Wheat /1 66,559,637 79,318,803 51,333,906 70,399,365
wheat flour /1 412,532 469,241 368,893 705,613
Malt 66,322,066 87,165,494 84,451,651 82,327,649
1/Includes commercial and donated.

DJ U.S. January Oilseed, Meal, Oils/Fats Exports-Mar 7
In kilograms (top). Oils in pounds, soybeans in bushels, meal and hulls in
short tons (bottom). Source: U.S. Department of Commerce.
(*)NOTE: Year ago figures reflect data reported at that time.
Data includes Exports and Re-Exports.
——- In Kilograms ——-
Jan 18 Dec 17 Nov 17 Jan 17(*)
soybeans 5,762,856,798 6,451,809,059 9,032,416,013 7,423,077,441
soyoil 81,949,633 78,471,806 59,877,675 119,569,398
crude 67,939,406 60,891,520 41,848,689 95,883,319
refined 153,133 233,967 208,519 129,304
other/1 13,644,000 17,200,797 17,618,312 23,126,050
hydrogenated 213,094 145,522 202,155 430,725
cottonseed oil 7,433,036 3,036,047 3,709,126 4,943,898
crude 21,702 76,466 97,344 50,617
refined 1,481,864 1,930,068 2,746,100 4,168,067
other/1 5,886,764 1,011,580 865,682 651,975
hydrogenated 42,706 17,933 0 73,239
sunseeds 99,038 200,469 162,836 63,571
sunseed oil 3,442,565 1,738,682 2,444,900 3,835,767
rapeseed 8,410,875 7,050,300 26,042,999 4,426,995
rapeseed oil 13,103,741 6,985,745 8,593,882 12,060,355
crude 7,661,509 2,989,264 1,866,587 5,855,077
refined 5,442,232 3,996,481 6,727,295 6,205,278
linseed meal 225,283 223,773 220,593 492,332
cottonseed meal 9,079,227 8,414,423 5,261,215 7,180,143
soymeal 963,675,889 831,002,634 805,972,547 955,041,070
soymeal/flour 100,965,014 240,068,750 195,890,936 227,812,033
soymeal hulls 8,479,000 4,638,000 10,000,000 3,045,000
lard 1,776,401 1,862,582 1,876,203 1,220,240
edible tallow 7,134,344 10,897,092 11,464,248 9,599,083
inedible tallow 37,110,590 22,363,491 23,106,613 32,716,622
ch white grease 5,907 195,818 341,350 7,648
——- In Bushels, Pounds or Short Tons ——-
Jan 18 Dec 17 Nov 17 Jan 17(*)
soybeans 211,746,566 237,060,969 331,881,069 272,748,606
soyoil 180,668,046 173,000,748 132,007,699 263,605,445
crude 149,780,777 134,242,845 92,260,582 211,386,570
refined 337,601 515,809 459,706 285,067
other/1 30,079,876 37,921,273 38,841,736 50,984,222
hydrogenated 469,792 320,821 445,676 949,586
cottonseed oil 16,387,042 6,693,339 8,177,224 10,899,431
crude 47,845 168,579 214,607 111,591
refined 3,266,951 4,255,072 6,054,115 9,189,016
other/1 12,978,095 2,230,153 1,908,502 1,437,359
hydrogenated 94,151 39,536 0 161,464
sunseeds 218,341 441,959 358,992 140,150
sunseed oil 7,589,558 3,833,138 5,390,083 8,456,420
rapeseed 18,542,808 15,543,254 57,414,995 9,759,855
rapeseed oil 28,888,809 15,400,934 18,946,270 26,588,536
crude 16,890,739 6,590,200 4,115,121 12,908,237
refined 11,998,070 8,810,734 14,831,149 13,680,299
linseed meal 248 247 243 543
cottonseed meal 10,008 9,275 5,799 7,915
soymeal 1,062,260 916,014 888,424 1,052,742
soymeal flour/me 111,294 264,628 215,931 251,117
soymeal hulls 9,346 5,112 11,023 3,357
lard 3,916,295 4,106,291 4,136,320 2,690,169
edible tallow 15,728,539 24,023,980 25,274,345 21,162,359
inedible tallow 81,814,860 49,303,067 50,941,370 72,127,817
ch white grease 13,023 431,705 752,548 16,861

DJ U.S. January Grain Imports-Mar 7
In kilograms, from the U.S. Commerce Department, converted to
pounds by Dow Jones.
—-Jan 2018—- —-Dec 2017—-
kilograms pounds kilograms pounds
durum wheat 2,136,051 4,709,992 3,737,648 8,241,514
spring wheat 21,886,068 48,258,780 12,179,986 26,856,869
winter wheat 34,972,904 77,115,253 15,136,043 33,374,975
wheat/meslin 22,273,778 49,113,680 13,896,876 30,642,612
TOTAL WHEAT 81,268,801 179,197,706 44,950,553 99,115,969
barley 3,152,883 6,952,107 7,702,290 16,983,549
oats 938,534 2,069,467 182,403 402,199
corn 83,153,665 183,353,831 32,307,784 71,238,664
other corn 22,946,699 50,597,471 13,520,689 29,813,119
TOTAL CORN 106,100,364 233,951,303 45,828,473 101,051,783

DJ U.S. Jan Soymeal, Vegetable Oils/Oilseed Imports-Mar 7
In kilograms from the U.S. Commerce Department, converted to pounds
by Dow Jones.
—-Jan 2018—- —-Dec 2017—-
kilograms pounds kilograms pounds
coconut oil 73,278,385 161,578,839 12,522,541 27,612,203
palm kernel oil 37,885,850 83,538,299 16,147,026 35,604,192
palm oil 184,982,915 407,887,328 118,256,259 260,755,051
soybean 37,834,777 83,425,683 60,728,312 133,905,928
soymeal 0 0 0 0
soyoil 10,052,948 22,166,750 14,157,512 31,217,314
rapeseed oil
edible 174,424,881 384,606,863 144,193,409 317,946,467
rapeseed oil,
inedible 45,596 100,539 43,713 96,387

DJ U.S. March 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 Thursday at noon ET.
U.S. Stockpiles (millions)
2017-18
Average Range USDA February USDA 2016-2017
Corn 2,299 2,222-2,352 2,352 2,293
Soybeans 529 478-590 530 302
Wheat 1,013 990-1,050 1,009 1181
2017-18
Corn Soybeans Wheat
Advanced Market 2,325 540 1,009
AgriSource 2,322 510 1,000
Allendale 2,349 554 1,025
DC Analysis 2,227 478 1,009
Doane 2,227 490 1,025
EDFMan Capital 2,352 530 1,009
Farm Futures 2,277 510 1,020
Futures INTL 2,327 555 1,009
Hueber Report 2,333 530 998
INTL FCStone 2,240 580 1,035
Sid Love Consulting 2,252 530 1,009
MaxYield 2,300 530 1,050
Northstar 2,300 520 1,009
Price Group 2,302 530 1,009
RMC 2,342 520 1,009
RJ O’Brien 2,222 590 1,030
US Commodities 2,302 495 1,002
Vantage RM 2,352 540 999
Western Milling 2,328 513 990

DJ March 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 Thursday at noon ET.
World Stockpiles (million metric tons)
2017-18
Average Range USDA February USDA 2016-17
Corn 198.9 191.0-204.0 203.1 229.8
Soybeans 95.5 93.7-98.0 98.1 96.1
Wheat 266.2 264.7-267.5 266.1 252.6
2017-18
Corn Soybeans Wheat
Advanced Market 204.0 95.0 266.0
Allendale 202.8 96.2 266.9
Doane 199.0 94.0 266.0
EDFMan Capital 203.0 98.0 266.0
Farm Futures 197.0 95.0 267.0
Futures INTL 197.0 94.0 267.5
Hueber Report 200.3 95.2 264.7
INTL FCStone 192.3 93.7 266.8
MaxYield 201.0 97.1 266.0
Northstar 198.0 95.0 265.0
RMC 203.0 98.0 266.1
US Commodities 197.0 95.0 265.0
Western Milling 191.0 95.0 267.0

DJ March Brazil, Argentina Corn, Soybean Production Estimates – Survey
CHICAGO–The following are analysts’ estimates in millions of metric tons for Brazil and Argentina corn and soybean production for 2017-18, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release its monthly estimates on Thursday at noon ET.
Brazil Production (million metric tons)
Average Range USDA February USDA 2016-17
Corn 91.8 86.2-95.0 95.0 98.5
Soybeans 114.0 112.0-116.0 112.0 114.1
Corn Soybeans
Advanced Market 95.0 114.0
Allendale 94.0 114.5
DC Analysis 89.0 115.0
Doane 90.0 115.0
EDF Man Capital 92.0 113.0
Farm Futures 92.0 115.0
Futures INTL 92.0 113.5
Hueber Report 94.3 114.0
INTL FCStone 86.2 112.9
Sid Love Consulti 93.0 114.0
MaxYield 95.0 114.0
North Star 93.0 114.0
Price Group 89.0 112.0
RMC 95.0 112.2
US Commodities 92.0 116.0
Western Milling 88.0 115.0
Argentina Production (million metric tons)
Average Range USDA February USDA 2016-17
Corn 36.3 33.0-38.5 39.0 41.0
Soybeans 48.1 43.0-53.5 54.0 57.8
Corn Soybeans
Advanced Market 36.0 49.0
Allendale 38.0 47.5
DC Analysis 35.0 43.0
Doane 36.0 46.0
EDF Man Capital 37.0 48.0
Farm Futures 36.6 47.0
Futures INTL 35.0 48.0
Hueber Report 36.7 48.3
INTL FCStone 37.0 46.0
Sid Love Consulti 36.0 50.0
MaxYield 38.0 52.0
North Star 36.0 49.0
Price Group 36.0 49.0
RMC 38.5 53.5
US Commodities 36.0 49.0
Western Milling 33.0 45.0

WHEAT
General Comments Wheat markets were lower on what appeared to be speculative selling in front of the next round of USDA supply and demand reports that will be released tomorrow. Ideas are that USDA will make few changes of importance in its estimates. Wheat futures are in a weather market, and this rally is more about supply problems in the US and supply and logistical problems in Europe and Russia. La Nina conditions are still affecting the production potential for Hard Red Winter areas and there are no real changes in the forecast to indicate improving conditions. The market is noting dry conditions in western Kansas and other parts of the western Great Plains and the La Nina Winter weather forecast. A drought remains in the region and has become serious. A large part of the HRW crop is still rated in poor to very poor condition as crops start to come out of dormancy. Minneapolis prices remain weaker in part on high Canadian production and in part on ideas of increased planted area for Spring Wheat in the US this coming season. Black Sea prices remain firm. Russia and Europe have had some very cold weather in the last week and some traders expect to hear reports of Winterkill and production losses from both areas this week. The weekly charts show that both Winter Wheat markets are now in up trends and Minneapolis Spring Wheat markets remain in sideways trends.
Overnight News: The southern Great Plains should get mostly dry weather, but some precipitation is possible on today. Temperatures should be above normal. Northern areas should see mostly dry weather, but some big precipitation is forecast for today. Temperatures should be near to below normal. The Canadian Prairies should see mostly dry weather, but light precipitation is possible in southern areas today. Temperatures should average mostly below normal.
Chart Analysis: Trends in Chicago are mixed to up with objectives of 523 May. Support is at 495, 493, and 479 May, with resistance at 518, 524, and 529 May. Trends in Kansas City are mixed to up with objectives of 554 May. Support is at 526, 517, and 504 May, with resistance at 548, 550, and 552 May. Trends in Minneapolis are mixed. Support is at 615, 608, and 596 May, and resistance is at 636, 640, and 645 May.

RICE: Rice closed slightly higher again yesterday in light volume speculative trading. It has been quiet so far this week as the market waits for the USDA reports on Thursday. Few changes are anticipated for the supply and demand reports. Trends are mostly up on the daily charts. Cash market bids remain generally strong amid tight supplies. Reports indicate that Texas producers are about sold out for the marketing year. Reports indicate that there is a limited amount of Rice still owned by farmers in the state, so commercials are raising bids to try to buy what is left. Limited amounts of Rice are reported to be owned by farmers in Louisiana and Mississippi as well. The amount of Rice still owned by farmers in Arkansas and Missouri is less clear, but the cash market indicates tight conditions.
Overnight News: The Delta should get mostly dry conditions. Temperatures should be variable.
Chart Analysis: Trends are mixed to up with objectives of 1265 and 1305 May. Support is at 1236, 1226, and 1219 May, with resistance at 1254, 1260, and 1265 May.

DJ USDA World Market Rice Prices – Mar 7
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 15.96 10.21 0.00
Medium/Short Grain 15.59 10.55 0.00
Brokens 9.63 —- —-

CORN AND OATS
General Comments: Corn closed a little higher on strong demand ideas, but Oats were a little lower. Consolidation trading is expected today before the monthly USDA supply and demand estimates tomorrow. USDA could raise Corn export demand, but will probably wait on any major changes until it sees the quarterly stocks data at the end of the month. The export sales over the last couple of months have been the strongest in a long time, and sales for the marketing year are still on a pace to beat the USDA targets in a big way. Corn is a demand market with reasons to move higher once the producer selling was completed. Ethanol demand also remains very strong. More demand is also possible due to the problems in South America due to the weather. Brazil is not offering Corn and appears to be sold out, while Argentina is struggling with dry weather problems of its own that are being caused by La Nina. Brazil has been too wet in central and northern areas to get the Safrinha Corn planted well. US farmers have reportedly sold a lot of Corn on the rally as they have held the Corn in farm storage for too long. These sales might be less now that the market is moving higher and as farmers now probably have much more manageable stocks in on farm storage.
Overnight News:
Chart Analysis: Trends in Corn are up with objectives of 407 and 445 May. Support is at 382, 379, and 375 May, and resistance is at 389, 393, and 395 May. Trends in Oats are mixed. Support is at 264, 258, and 257 May, and resistance is at 270, 276, and 279 May.

SOYBEANS AND PRODUCTS
General Comments: Soybeans were mixed, with nearby months lower and deferred months a little higher. Soybean Oil was higher and Soybean Meal was lower. The market acts tired and is showing signs that a correction is coming. The correction could start ahead of the monthly USDA supply and demand estimates that will be released tomorrow. Few changes are expected in any of the estimates. Better demand ideas for Soybeans did not provide much support as the speculators are already long. Futures prices remain supported due to high prices in South America that have come from the drought in Argentina and too much rain in parts of central and northern Brazil. More dry weather now in the Argentine forecast implies that Soybeans production losses will be significant. There is now some rain in the forecast for about 10 days out, but these rains might be too late to help too much. Production ideas are dropping by the day due to the weather related losses. Ideas that Soybeans production in Argentina are still suffering from dry weather are still support prices in the market, but production estimates for Brazil remain high at near 114 million tons. Some talk of Brazil production at or above 117 million tons. There has been too much rain in central and northern Brazil and crop losses are possible.. Argentine production estimates now range from 45 to 50 million tons, from closer to 55 million at the start of the growing season.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed to up with objectives of 1090 May. Support is at 1064, 1056, and 1044 May, and resistance is at 1084, 1096, and 1108 May. Trends in Soybean Meal are mixed to up with objectives of 419.00 May. Support is at 384.00, 382.00, and 3789.00 May, and resistance is at 400.00, 404.00, and 406.00 May. Trends in Soybean Oil are mixed. Support is at 3220, 3200, and 3190 May, with resistance at 3300, 3350, and 3380 May.

CANOLA AND PALM OIL
General Comments: Canola was lower, with strength in the Canadian Dollar hurting prices. Charts still show an up trend. The market is watching Brazil and Argentina and vegetable oils markets worldwide. Farmers are selling in moderate amounts. Palm Oil was a little lower on news that India had increased import taxes. He expects overall demand for Palm Oil and vegetable oils in general to be strong and to help rally prices this year. China is likely to import less due to big soybeans imports. Production is seasonally lowered to help ending stocks ideas. The market tested support and the support held for now.
Overnight News:
Chart Analysis: Trends in Canola are up with objectives of 532.00 May. Support is at 523.00, 519.00, and 515.00 May, with resistance at 531.00, 532.00, and 533.00 May. Trends in Palm Oil are mixed. Support is at 2450, 2420, and 2390 May, with resistance at 2500, 2530, and 2550 May.

Midwest Weather Forecast: Precipitation through midweek, then dry into the weekend, Temperatures near to above normal.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
March 58 May 195 May 63 May 41 May 8-May
April 58 May 58 May 40 May
May 58 May 58 May 40 May
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Paraguay
March 83 May minus 12 May
April 83 May minus 12 May
May 82 May minus 16 May
All basis levels are positive unless noted as negative

DJ ICE Canada Cash Grain Close – Mar 6
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 513.50 up 2.40
Basis: Thunder Bay
1 Can 536.00 dn 3.50
2 Can 523.00 dn 3.50
Basis: Vancouver
1 Can 556.00 dn 3.50
2 Can 543.00 dn 3.50
FEED WHEAT
Lethbridge 232.00 unchanged
WESTERN BARLEY
Lethbridge 235.00 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 – March 7
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Wednesday, 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
Mar 660.00 -07.50 Unquoted – –
Apr/May/Jun 660.00 -07.50 Unquoted – –
Jul/Aug/Sep 650.00 -10.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 660.00 -07.50 Unquoted – –
Apr/May/Jun 660.00 -07.50 Unquoted – –
Jul/Aug/Sep 650.00 -10.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 667.50 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Mar 612.50 -02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Mar 2,480.00 -30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Mar 240.00 0.00 Unquoted – –
($1=MYR3.9012)

DJ China Dalian Grain Futures Closing Prices, Volume – Mar 07
Soybean No. 1
Turnover: 169,388 lots, or 6.26 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-18 – – – 3,270 3,270 3,270 0 0 52
May-18 3,695 3,718 3,665 3,675 3,689 3,688 -1 152,014 186,804
Jul-18 3,689 3,707 3,689 3,707 3,770 3,698 -72 4 6
Sep-18 3,754 3,774 3,732 3,738 3,752 3,747 -5 16,946 42,426
Nov-18 – – – 3,777 3,777 3,777 0 0 2
Jan-19 3,828 3,830 3,796 3,796 3,821 3,812 -9 410 2,458
Mar-19 – – – 3,804 3,804 3,804 0 0 2
May-19 3,863 3,867 3,856 3,856 3,868 3,861 -7 14 124
Jul-19 – – – 3,859 3,859 3,859 0 0 2
Corn
Turnover: 887,222 lots, or 16.26 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-18 – – – 1,960 1,960 1,960 0 0 0
May-18 1,879 1,879 1,852 1,857 1,877 1,863 -14 454,610 875,688
Jul-18 1,816 1,817 1,801 1,802 1,814 1,807 -7 189,214 181,430
Sep-18 1,805 1,808 1,784 1,787 1,807 1,793 -14 228,398 667,120
Nov-18 1,795 1,795 1,780 1,782 1,791 1,786 -5 398 732
Jan-19 1,796 1,796 1,777 1,778 1,792 1,782 -10 14,602 91,436
Soymeal
Turnover: 3,403,972 lots, or 10.57 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-18 – – – 3,202 3,202 3,202 0 0 0
May-18 3,123 3,158 3,108 3,117 3,122 3,125 3 1,935,898 1,910,952
Jul-18 3,099 3,133 3,084 3,094 3,099 3,097 -2 246,082 163,606
Aug-18 3,074 3,120 3,072 3,085 3,079 3,088 9 84 282
Sep-18 3,072 3,117 3,060 3,068 3,067 3,082 15 1,153,950 1,572,658
Nov-18 3,029 3,060 3,022 3,027 3,032 3,034 2 1,004 742
Dec-18 2,979 3,000 2,979 2,983 2,979 2,994 15 22 50
Jan-19 2,958 2,998 2,946 2,965 2,959 2,966 7 66,932 206,084
Palm Oil
Turnover: 358,924 lots, or 18.81 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-18 – – – 5,246 5,246 5,246 0 0 0
Apr-18 – – – 5,220 5,244 5,220 -24 0 10
May-18 5,272 5,290 5,206 5,212 5,264 5,246 -18 256,592 370,370
Jun-18 5,258 5,258 5,258 5,258 5,296 5,258 -38 2 4
Jul-18 – – – 5,288 5,288 5,288 0 0 0
Aug-18 – – – 5,242 5,278 5,242 -36 0 2
Sep-18 5,246 5,256 5,196 5,198 5,240 5,220 -20 98,312 234,802
Oct-18 5,312 5,312 5,192 5,192 5,246 5,248 2 42 4
Nov-18 – – – 5,334 5,332 5,334 2 0 10
Dec-18 – – – 5,292 5,292 5,292 0 0 0
Jan-19 5,242 5,252 5,200 5,208 5,240 5,220 -20 3,914 17,336
Feb-19 5,292 5,604 5,282 5,298 5,212 5,324 112 62 40
Soybean Oil
Turnover: 526,306 lots, or 30.74 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-18 – – – 4,958 4,958 4,958 0 0 8
May-18 5,850 5,852 5,752 5,766 5,852 5,796 -56 374,348 662,022
Jul-18 – – – 5,944 5,960 5,944 -16 0 32
Aug-18 – – – 5,940 5,940 5,940 0 0 14
Sep-18 6,000 6,000 5,900 5,912 6,004 5,944 -60 148,098 331,252
Nov-18 – – – 6,082 6,082 6,082 0 0 22
Dec-18 – – – 5,948 5,948 5,948 0 0 2
Jan-19 6,134 6,134 6,044 6,046 6,134 6,078 -56 3,860 18,354
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