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 U.S. April 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 Tuesday at noon ET.
U.S. 2017-18 Stockpiles (millions)
Average Range USDA March USDA 2016-2017
Corn 2,192 2,050-2,265 2,127 2,293
Soybeans 570 520-609 555 302
Wheat 1,040 1,010-1,080 1,034 1181
2017-18
Corn Soybeans Wheat
Advanced Market 2,187 575 1,050
AgriSource 2,200 575 1,034
Agrivisor 2,202 560 1,034
Allendale 2,184 575 1,060
DC Analysis 2,177 520 1,034
Doane 2,222 550 1,063
EDFMan Capital 2,177 580 1,059
Farm Futures 2,119 582 1,033
Futures INTL 2,167 560 1,051
Hueber Report 2,175 570 1,025
INTL FCStone 2,265 609 1,060
North Star 2,167 580 1,025
Sid Love Consulting 2,227 565 1,034
MaxYield 2,240 585 1,010
Price Group 2,177 555 1,034
Prime Ag 2,227 605 1,034
RJ O’Brien 2,247 573 1,080
RMC 2,200 575 1,030
Turner’s Take Ag Ma 2,050 525 1,020
US Commodities 2,197 550 1,039
Vantage RM 2,250 570 1,039
Western Milling 2,203 587 1,040
Zaner Ag Hedge 2,152 588 1,021

DJ April 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 Tuesday at noon ET.
World 2017-18 Stockpiles (million metric tons)
Average Range USDA March USDA 2016-17
Corn 197.0 191.5-202.0 199.2 231.9
Soybeans 92.9 91.0-96.0 94.4 96.7
Wheat 268.4 266.5-270.0 268.9 252.6
2017-18
Corn Soybeans Wheat
Advanced Market 202.0 92.5 268.0
Agrivisor 198.5 93.5 268.5
Allendale 199.9 92.4 269.1
Doane 195.0 94.0 270.0
EDFMan Capital 201.0 92.0 270.0
Farm Futures 199.0 93.0 269.2
Futures INTL 195.7 92.0 269.2
Hueber Report 195.0 93.4 267.5
INTL FCStone 191.5 91.5 266.8
MaxYield 194.0 91.4 266.5
Northstar 194.0 91.0 268.0
Prime-Ag 202.0 96.0 269.0
RMC 198.8 94.1 267.6
Turner’s Take A 195.0 91.0 268.0
US Commodities 198.0 93.0 268.5
Western Milling 193.0 93.0 270.0
Zaner Ag Hedge 197.4 95.3 266.7

DJ April 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 Tuesday at noon ET.
Brazil Corn, Soybean Production (million metric tons)
Average Range USDA March USDA 2016-17
Corn 92.2 86.5-96.0 94.5 98.5
Soybeans 115.6 113.3-118.0 113.0 114.1
Corn Soybeans
Advanced Market 94.5 114.5
Agrivisor 94.5 115.0
Allendale 93.0 116.0
DC Analysis 89.0 118.0
Doane 90.0 117.0
EDF Man Capital 93.0 115.0
Farm Futures 94.0 117.0
Futures INTL 92.5 115.0
Hueber Report 92.5 114.0
INTL FCStone 86.5 115.9
MaxYield 92.0 116.0
North Star 93.0 116.0
Price Group 90.0 116.0
Prime Ag 96.0 115.0
RMC 94.5 113.3
Sid Love Consulti 95.0 114.0
Turner’s Take Ag 92.0 115.0
US Commodities 91.0 116.0
Western Milling 89.0 117.0
Zaner Ag Hedge 92.0 116.0
Argentina Corn, Soybean Production (million metric tons)
Average Range USDA March USDA 2016-17
Corn 33.5 31.0-36.0 36.0 41.0
Soybeans 42.3 39.0-45.0 47.0 57.8
Corn Soybeans
Advanced Market 33.0 43.0
Agrivisor 33.0 43.0
Allendale 36.0 42.5
DC Analysis 32.0 39.0
Doane 34.0 41.0
EDF Man Capital 35.0 45.0
Farm Futures 33.9 42.2
Futures INTL 32.0 42.0
Hueber Report 34.0 44.0
INTL FCStone 33.0 42.0
MaxYield 34.0 43.0
North Star 33.0 42.0
Price Group 32.0 41.0
Prime Ag 33.0 45.0
RMC 35.0 40.5
Sid Love Consulti 34.0 42.0
Turner’s Take Ag 34.0 42.0
US Commodities 34.0 43.0
Western Milling 31.0 39.0
Zaner Ag Hedge 35.0 44.0

DJ USDA Grain Inspections for Export in Metric Tons – Apr 9
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 APR 05, 2018
— METRIC TONS —
————————————————————————-
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 04/05/2018 03/29/2018 04/06/2017 TO DATE TO DATE
BARLEY 0 0 73 21,071 32,362
CORN 1,937,040 1,445,186 1,212,682 26,475,989 34,553,205
FLAXSEED 0 0 2,229 4,745 28,990
MIXED 0 0 0 0 0
OATS 399 0 100 12,579 13,293
RYE 0 0 0 0 0
SORGHUM 246,316 125,239 162,895 4,067,385 3,906,037
SOYBEANS 373,940 578,838 858,320 41,893,537 47,842,322
SUNFLOWER 0 0 0 0 0
WHEAT 430,080 424,880 659,183 20,368,295 22,493,275
Total 2,987,775 2,574,143 2,895,482 92,843,601 108,869,484
————————————————————————-
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.

Crop Progress
Date 8-Apr 1-Apr 2017 Avg
Cotton Planted 7 7 6 5
Corn Planted 2 3 2
Sorghum Planted 17 9 18 15
Rice Planted 21 17 29 22
Rice Emerged 11 6 12 8
Sugar beets Planted 1 4 5
Oats Planted 27 26 32 34
Oats Emerged 25 25 26 27
Winter Wheat Headed 3 8 4
Spring Wheat Planted 2 4 6
Barley Planted 4 8 12

Crop Condition
Very Poor Fair Good Very Good
Winter Wheat This Week 14 21 35 26 4
Winter Wheat Last Week 11 19 38 28 4
Winter Wheat Last Year 3 10 34 46 7

Brazil’s 2017/18 soybean crop to reach record of 114.96 mln T – Conab – Reuters
10-Apr-2018 07:05:33 AM
To view this story on Eikon, click here
SAO PAULO, April 10 (Reuters) –
• Brazil’s 2017/18 soybean crop seen at 114.96 mln tns vs 113.02 mln tns seen in March and 114.08 mln tns last season – Conab
• Brazil’s 2017/18 total grain crop seen at 229.53 mln tns vs 226.03 mln tns seen in March and 237.67 mln tns last season – Conab
• Brazil’s 2017/18 second-corn planted area estimated at 11.54 mln hectares vs 11.39 mln hectares in March preview – Conab
• Brazil’s 2017/18 total corn crop seen at 88.61 mln tns vs 87.28 mln tns seen in March and 97.84 mln tns last season – Conab
• Brazil’s 2017/18 second-corn crop seen at 63.01 mln tns vs 62.16 mln in March preview and 67.38 tns last season – Conab
• Brazil’s 2017/18 average corn yields seen at 5,336 kg/hectare vs 5,562 kg/hectare last season – Conab
• Brazil’s 2017/18 avg soybean yields seen as 3,276 kg/hectare vs 3,364 kg/hectare in prior season – Conab
(Reporting by Ana Mano)
(( ana.mano@thomsonreuters.com ; Tel: +55-11-5644-7704; Mob: +55-119-4470-4529; Reuters Messaging: ana.mano.thomsonreuters.com@reuters.net ))

WHEAT
General Comments Wheat markets were higher as weather continued as a dominant factor in the market. It was very cold in the Great Plains over the weekend and it is possible that some of the Winter Wheat was hurt. The crop is out of dormancy and is trying to develop, but it remains too dry and temperatures have been either very warm or very cold. Forecasts still call for dry weather in Texas and Oklahoma and it is dry again in Kansas. There is no real relief in sight as temperatures finally turn warmer in the eastern two-thirds of the US this week. It should be cold again this weekend and next week. USDA showed generally poor crop ratings in its initial crop progress and condition reports last night, and the crop seems to be regressing as condition ratings were worse than the previous week. USDA will issue its monthly supply and demand reports this morning, and an uptick in ending stocks estimates is possible due to the poor export demand until now. The daily charts for all three markets show stability in prices, and the charts for HRW are showing potential for up trends. The weekly charts still show weakness, but the markets seem to be cheap enough due to the ongoing weather problems in the Great Plains. Minneapolis is also starting to turn to at least sideways trends as the weather remains very cold in Canada and the northern Great Plains. Farmers want to start on fieldwork, but the cold temperatures have made that an impossible task. The Canadian Prairies and northern Great Plains look to stay cold this week and snow is possible early in the week.
Overnight News: The southern Great Plains should get mostly dry weather. Temperatures should be above normal. Northern areas should see Snow and rain late this week. Temperatures should be near to below normal. The Canadian Prairies should see mostly dry weather or some light precipitation. Temperatures should average mostly above normal.
Chart Analysis: Trends in Chicago are up with objectives of 482, 487, and 503 May. Support is at 464, 461, and 452 May, with resistance at 479, 483, and 485 May. Trends in Kansas City are up with objectives of 534 and 587 May. Support is at 511, 507, and 499 May, with resistance at 530, 531, and 533 May. Trends in Minneapolis are up with no objectives. Support is at 613, 610, and 608 May, and resistance is at 630, 636, and 640 May.

RICE:
General Comments: Rice was higher and closed near the highs for the day. Prices broke through important resistance areas on the weekly charts near 1250 May, and big speculative short covering was seen. Ideas are that Little old crop Rice is available in the cash market, and the situation is not likely to improve before the new crop becomes available late this Summer. The situation might not get much better next year. On farm stocks are now very low as most farmers have already sold. Farmers will plant more Rice this year, but the increase in planted area is not considered burdensome. Planting progress has been ahead of average so far, but has stalled recently due to cool and wet weather in Gulf coastal areas. It has been very wet and cold in the northern Delta states as well, but warmer temperatures are likely to appear later this week. Indications are that producers are more willing to plant other crops instead of Rice, and early ideas of a significant increase in planted Rice area have gone away. Farmers and bankers are worried about profitability, and planting other crops such as Soybeans or Cotton could mean better returns for some producers.
Overnight News: The Delta should get some precipitation over the next couple of days, then drier weather. Temperatures should be near to below normal early in the week and above normal late in the week.
Chart Analysis: Trends are up with objectives of 1290 and 1330 May. Support is at 1260, 1254, and 1252 May, with resistance at 1293, 1295, and 1307 May.

CORN AND OATS
General Comments: Corn closed higher in sympathy with the other markets and on ideas that the NAFTA dispute could be resolved soon. The Mexican representative said he thought an agreement in principle could be down by the end of May. The weekly export inspections report was very strong and the strongest since at least the late 1980’s. USDA showed only animal planting progress in its first report on Corn last night.. Strong domestic and export demand finally allowed futures to recover by the end of the week. The trade is now waiting for the monthly USDA supply and demand updates that will be released on Tuesday morning, and increased export demand and lower ending stocks are very possible. Weather in the Midwest remains too cold, and it has been very wet in southern production areas. Fieldwork has been stalled in almost all areas. It will finally turn warmer in the Midwest over the second half of this week, and some initial fieldwork might finally be possible. The market focus will move more from old crop to new crop from now on as traders start to monitor new crop progress and condition along with the old crop demand.
Overnight News:
Chart Analysis: Trends in Corn are mixed to up with objectives of 393, 410, and 430 May. Support is at 389, 386, and 381 May, and resistance is at 393, 395, and 400 May. Trends in Oats are mixed to up with no objectives. Support is at 234, 230, and 227 May, and resistance is at 238, 242, and 245 May.

SOYBEANS AND PRODUCTS
General Comments: Soybeans were higher in reaction to tweets from President Trump that he expects successful negotiations with China over the trade disputes. It was good news for Soybeans as China is a major source of demand. Other buyers have appeared in the market as the price spread between Brazil and the US has grown very wide in cash markets. Daily sales announcements have been seen for the last couple of days as end users and crusher look to buy cheaper US Soybeans. News that Chinese buyers were leaving the US market and increasing purchases in Brazil sent Brazil premiums soaring to cover a big amount of the potential percentage increase in taxes. The tariff threats by the US and China have turned into a financial boon for the Brazilian producer, and they have taken advantage of the great prices by selling. Brazil premiums did settle back a bit at the end of the week and again yesterday on news that some European crusher had cancelled Brazil purchases to take advantage of the far cheaper US prices. All these cash market trends can continue this week. USDA will issue its latest supply and demand estimates, and there is doubt over how USDA will handle the trade threats and changes. Chances are that USDA will wait and see what actually happens to US demand before making many changes. USDA will likely cut Argentine production due to the continuing drought there, but increase production in Brazil due to reports of good yields there. Prices will likely remain volatile until the tariff threat is clarified. This might take at least a couple of months due top US laws and the desire expressed by the US and China to find a negotiated solution.
Overnight News: Argentina bought 120,000 tons of US Soybeans. China bought 132,000 tons of US Soybeans. Unknown destinations bought 279,000 tons of US Soybeans.
Chart Analysis: Trends in Soybeans are mixed to up with objectives of 1085 May. Support is at 1038, 1034, and 1021 May, and resistance is at 1060, 1070, and 1082 May. Trends in Soybean Meal are up with objectives of 393.00, 410.00, and 413.00 May. Support is at 384.00, 376.00, and 369.00 May, and resistance is at 400.00, 404.00, and 406.00 May. Trends in Soybean Oil are mixed. Support is at 3130, 3100, and 3070 May, with resistance at 3180, 3200, and 3250 May.

CANOLA AND PALM OIL
General Comments: Canola was a little lower after trading higher for much of the day on buying related to the cold weather in the Prairies that has made initial fieldwork impossible. A stronger Canadian Dollar hurt the buyers and created some late selling in the market. Charts show that trends are up. 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 price action in Chicago and on what appeared to be speculative long liquidation. The market thinks it has plenty of Palm Oil for any demand. China reported solid Palm Oil imports for February in data released overnight. Production is seasonally lowered to help ending stocks ideas. The market tested support and the support held for now.
Overnight News: SGS said that Malaysian Palm Oil exports are now 450,659 tons so far this month, from 339,931 tons last month. Am Spec said that exports are now 449,997 tons, from 358,150 tons last month.
Chart Analysis: Trends in Canola are up with objectives of 538.00 and 555.00 May. Support is at 531.00, 527.00, and 522.00 May, with resistance at 534.00, 538.00, and 544.00 May. Trends in Palm Oil are mixed to up with objectives of 2530 and 2600 June. Support is at 2460, 2430, and 2410 June, with resistance at 2520, 2540, and 2560 June.

Monthly MPOB Supply and Demand Reports:
Observation period : March
Frequency : Monthly
Release date : Tuesday, 10 Apr
Forecast as follows:
Production – 1.49 mil tonnes, Up 11.3%
Exports – 1.57 mil tonnes, Up 19.3%
Ending Stocks – 2.27 mil tonnes, Down 8.6%
Actual as follows:
Production – 1.57 mil tonnes, Up 17.2%
Exports – 1.57 mil tonnes, Up 19.2%
Ending Stocks – 2.32 mil tonnes, Down 6.2%
Prior reading as follows:
Production – 1.34 mil tonnes, Down 15.4%
Exports – 1.31 mil tonnes, Down 13.3%
Ending Stocks – 2.48 mil tonnes, Down 2.8%

Midwest Weather Forecast: Chances for more precipitation late this week, Temperatures mostly below normal early in the week and over the weekend and above normal late in the week. Below normal again starting late this weekend.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
April 56 May 160 May 65 May 72 May 15-May
May 57 May 65 May 65 May
June 53 July 48 July 62 July
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Paraguay
April 170 May
May 170 May 5-May
June 150 July 4-May
All basis levels are positive unless noted as negative

DJ ICE Canada Cash Grain Close – Apr 9
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 519.80 up 2.80
Basis: Thunder Bay
1 Can 546.00 dn 0.80
2 Can 533.00 dn 0.80
Basis: Vancouver
1 Can 569.00 dn 0.80
2 Can 556.00 dn 0.90
FEED WHEAT
Lethbridge N/A
WESTERN BARLEY
Lethbridge N/A
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 – April 10
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Tuesday, 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
Apr 662.50 -05.00 Unquoted – –
May/Jun 662.50 -05.00 Unquoted – –
Jul/Aug/Sep 662.50 -05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Apr 662.50 -05.00 Unquoted – –
May/Jun 662.50 -05.00 Unquoted – –
Jul/Aug/Sep 662.50 -05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Apr 665.00 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Apr 580.00 -10.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Apr 2,460 -20.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Apr 240 -02.00 Unquoted – –
($1=MYR 3.8650)

DJ China Dalian Grain Futures Closing Prices, Volume – Apr 10
Soybean No. 1
Turnover: 324,300 lots, or 12.84 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-18 3,880 3,917 3,838 3,870 3,924 3,877 -47 104,998 103,058
Jul-18 4,033 4,033 3,904 3,920 3,967 3,928 -39 204 104
Sep-18 4,035 4,041 3,956 3,990 4,041 3,998 -43 212,844 178,196
Nov-18 – – – 4,050 4,065 4,050 -15 0 0
Jan-19 4,076 4,092 3,996 4,010 4,122 4,039 -83 5,862 7,002
Mar-19 – – – 4,083 4,140 4,083 -57 0 2
May-19 4,110 4,112 4,056 4,067 4,113 4,091 -22 298 398
Jul-19 4,122 4,135 4,028 4,028 4,017 4,065 48 70 28
Sep-19 4,179 4,179 4,110 4,110 4,172 4,142 -30 24 54
Corn
Turnover: 1,163,200 lots, or 20.40 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-18 1,777 1,777 1,755 1,756 1,775 1,764 -11 74,544 147,576
Jul-18 1,758 1,760 1,747 1,750 1,762 1,752 -10 719,182 479,000
Sep-18 1,759 1,760 1,748 1,749 1,766 1,751 -15 345,002 970,826
Nov-18 1,871 1,873 1,769 1,770 1,785 1,776 -9 104 800
Jan-19 1,797 1,797 1,778 1,783 1,798 1,782 -16 23,806 116,858
Mar-19 1,800 1,800 1,782 1,785 1,807 1,786 -21 562 1,758
Soymeal
Turnover: 5,594,280 lots, or 18.40 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-18 3,280 3,307 3,215 3,225 3,292 3,261 -31 265,152 256,020
Jul-18 3,315 3,336 3,243 3,255 3,312 3,300 -12 651,478 286,800
Aug-18 3,325 3,325 3,249 3,279 3,331 3,297 -34 166 586
Sep-18 3,325 3,343 3,239 3,251 3,340 3,289 -51 3,801,506 2,893,230
Nov-18 3,344 3,345 3,234 3,260 3,350 3,293 -57 1,176 2,148
Dec-18 3,345 3,345 3,236 3,244 3,361 3,306 -55 82 332
Jan-19 3,340 3,361 3,221 3,235 3,368 3,283 -85 872,222 585,342
Mar-19 3,329 3,331 3,213 3,228 3,335 3,272 -63 2,498 2,064
Palm Oil
Turnover: 411,282 lots, or 21.20 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Apr-18 – – – 5,034 5,034 5,034 0 0 0
May-18 5,102 5,142 5,092 5,100 5,182 5,114 -68 52,520 102,302
Jun-18 – – – 5,242 5,242 5,242 0 0 4
Jul-18 – – – 5,224 5,224 5,224 0 0 0
Aug-18 – – – 5,194 5,194 5,194 0 0 10
Sep-18 5,158 5,190 5,128 5,142 5,222 5,160 -62 338,638 407,628
Oct-18 – – – 5,220 5,282 5,220 -62 0 4
Nov-18 – – – 5,208 5,270 5,208 -62 0 20
Dec-18 – – – 5,328 5,390 5,328 -62 0 0
Jan-19 5,178 5,210 5,148 5,160 5,230 5,170 -60 20,124 54,802
Feb-19 – – – 5,200 5,200 5,200 0 0 2
Mar-19 – – – 5,146 5,146 5,146 0 0 0
Soybean Oil
Turnover: 754,984 lots, or 44.94 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-18 5,816 5,826 5,766 5,790 5,880 5,796 -84 75,610 162,460
Jul-18 5,900 5,900 5,900 5,900 5,856 5,900 44 2 98
Aug-18 – – – 6,068 6,024 6,068 44 0 10
Sep-18 5,976 5,992 5,926 5,950 6,050 5,960 -90 632,712 815,192
Nov-18 – – – 6,142 6,142 6,142 0 0 22
Dec-18 – – – 6,114 6,114 6,114 0 0 2
Jan-19 6,132 6,142 6,058 6,080 6,200 6,094 -106 46,654 87,304
Mar-19 6,220 6,220 6,106 6,160 6,292 6,162 -130 6 6
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