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 2017-18 U.S. Wheat Production Estimates — Survey
CHICAGO–The following are analysts’ estimates for 2018-19 U.S. wheat production, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated production forecasts at noon on Tuesday.
2018-19 Wheat Production
Average Range USDA May USDA 2017-18
All Wheat 1,820 1,754-1,870 1,821 1,741
Winter Wheat 1,187 1,127-1,228 1,192 1,269
Hard Red Winter 641 585-676 647 750
Soft Red Winter 319 314-325 315 292
White Winter 228 202-242 229 227
All Wheat Winter Wheat Hard-Red Soft-Red White
Advanced Market 1,813 1,184 632 318 234
Agrivisor 1,830 1,200 650 320 230
Allendale 1,813 1,183 658 322 202
DC Analysis 1,822 1,192 642 318 232
Doane 1,861 1,221 666 320 235
EDF Man 1,819 1,190 655 319 210
Farm Futures 1,858 1,178 635 325 218
Futures International 1,841 1,211 649 320 242
Hueber Report 1,821 1,192 647 315 229
INTL FCStone 1,787 1,159 608 324 229
Sid Love Consulting 1,781 1,166 607 320 239
MaxYield 1,820 N/A N/A N/A N/A
North Star 1,870 1,220 670 320 232
Price Group 1,829 1,199 654 314 231
Prime Ag 1,821 N/A N/A N/A N/A
RJ O’Brien 1,850 1,228 676 316 235
RMC 1,799 1,170 N/A N/A N/A
Vantage RM 1,801 1,184 635 320 229
Western Milling 1,754 1,127 585 321 221
Zaner Ag Hedge 1,801 1,170 626 315 229

DJ U.S. Corn, Soybean Production Estimates — Survey
CHICAGO–The following are analysts’ estimates for 2018 U.S. corn and soybean production in millions of bushels, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release its monthly estimates at noon on Tuesday.
U.S. 2018 Production (million bushels, bushels per acre)
Average Range USDA May USDA 2017
Corn Production 14,072 14,007-14,215 14,040 14,604
Soybean Production 4,293 4,275-4,430 4,280 4,392
Corn Yield 174.2 173.1-176.0 174.0 176.6
Soybean Yield 48.6 48.5-50.0 48.5 49.1
Corn Soybean
Production Yield Production Yield
Advanced Market 14,040 174 4,280 48.5
AgriSource 14,040 174 4,280 48.5
Agrivisor 14,040 174 4,280 48.5
Allendale 14,040 174.0 4,280 48.5
DC Analysis 14,215 N/A 4,307 N/A
Doane 14,105 175.0 4,275 48.5
EDF Man 14,040 174.0 4,280 48.5
Hueber Report 14,040 174.0 4,280 48.5
INTL FCStone 14,127 173.1 4,299 48.8
Sid Love Consulting 14,040 174.0 4,280 48.5
MaxYield 14,040 174.0 4,280 48.5
North Star 14,040 174.0 4,280 48.5
Price Group 14,040 174.0 4,280 48.5
Prime Ag 14,040 174.0 4,280 48.5
RMC 14,040 174.0 4,280 48.5
US Commodities 14,203 176.0 4,304 48.8
Vantage RM 14,160 175.5 4,297 48.7
Western Milling 14,007 174.0 4,430 50.0

DJ U.S. June Grain, Soybean Stockpiles Estimates — Survey
CHICAGO–The following are analysts’ estimates in millions of bushels for U.S. ending stockpiles for 2017-18 and 2018-19, 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. Stockpiles (millions)
2017-18
Average Range USDA May
Corn 2,163 2,125-2,208 2,182
Soybeans 523 473-550 530
Wheat 1,079 1,060-1,100 1,070
2018-19
Average Range USDA May
Corn 1,642 1,425-1,790 1,682
Soybeans 435 390-702 415
Wheat 957 820-994 955
2017-18 2018-19
Corn Soybeans Wheat Corn Soybeans Wheat
Advanced Market 2,150 530 1,085 1,650 415 965
AgriSource 2,125 530 1,100 1,600 415 985
Agrivisor 2,162 520 1,090 1,662 405 984
Allendale 2,172 520 1,075 1,652 405 957
DC Analysis 2,167 484 1,060 1,567 390 964
Doane 2,172 520 1,063 1,610 400 985
EDF Man 2,157 515 1,090 1,607 395 975
Farm Futures 2,134 504 1,087 1,689 442 994
Futures Internationa 2,177 520 1,077 1,677 405 981
Hueber Report 2,162 545 1,065 1,662 430 960
INTL FCStone 2,142 473 1,086 1,495 480 820
Sid Love Consulting 2,182 550 1,070 1,682 435 915
MaxYield 2,180 545 1,070 1,600 430 940
Northstar 2,182 540 1,090 1,682 420 980
Price Group 2,132 510 1,085 1,632 395 977
Prime-Ag 2,182 540 1,090 1,682 425 975
RJ O’Brien 2,132 519 1,082 1,725 495 980
RMC 2,175 530 1,070 1,675 415 955
US Commodities 2,177 525 1,070 1,790 434 940
Vantage RM 2,192 540 1,070 1,757 435 935
Western Milling 2,208 532 1,075 1,425 702 918
Zaner Ag Hedge 2,132 515 1,080 1,607 405 975

DJ June 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 May
Corn 84.0 73.9-87.0 87.0
Soybeans 117.5 117.0-119.0 117.0
Corn Soybeans
Advanced Market 87.00 118.00
Allendale 83.50 117.00
DC Analysis 83.00 118.00
Doane 82.00 118.00
EDF Man 85.00 117.00
Farm Futures 85.00 117.00
Futures International 85.00 118.00
Hueber Report 86.50 117.00
INTL FCStone 73.89 117.14
MaxYield 85.00 119.00
North Star 85.00 117.50
Price Group 82.00 117.00
Prime Ag 85.00 118.00
RMC 87.00 117.00
US Commodities 86.00 118.00
Western Milling 82.00 117.00
Zaner Ag Hedge 85.00 117.50
Argentina Corn, Soybean Production (million metric tons)

Average Range USDA May
Corn 32.4 31.0-33.0 33.0
Soybeans 37.8 36.0-39.0 39.0
Corn Soybeans
Advanced Market 33.00 38.00
Allendale 33.00 39.00
DC Analysis 32.00 36.00
Doane 32.00 37.00
EDF Man 33.00 39.00
Farm Futures 32.00 36.00
Futures International 32.00 37.50
Hueber Report 33.00 37.50
INTL FCStone 32.00 37.50
MaxYield 33.00 38.00
North Star 33.00 37.50
Price Group 32.00 38.00
Prime Ag 33.00 39.00
RMC 33.00 39.00
US Commodities 32.50 38.00
Western Milling 31.00 38.00
Zaner Ag Hedge 32.00 38.00

DJ June 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 and 2018-19, 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 Stockpiles (million metric tons)
2017-18
Average Range USDA May
Corn 193.4 190.0-195.0 194.9
Soybeans 91.2 88.3-93.0 92.2
Wheat 270.3 268.0-271.0 270.5
2018-19
Average Range USDA May
Corn 157.3 150.7-160.0 159.2
Soybeans 86.3 83.5-91.3 86.7
Wheat 263.7 260.0-268.0 264.3
2017-18 2018-19
Corn Soybeans Wheat Corn Soybeans Wheat
Advanced Market 194.0 92.6 271.0 158.7 87.0 261.0
Agrivisor 192.3 89.9 271.0 157.0 84.4 263.0
Allendale 194.5 91.9 270.9 157.2 86.6 265.7
Doane 192.0 91.0 270.5 157.0 85.0 264.0
EDF Man 193.0 92.0 271.0 156.0 86.0 265.0
Farm Futures 195.0 88.3 271.0 155.0 84.2 263.0
Futures International 193.0 89.0 270.5 158.0 83.5 262.5
Hueber Report 192.0 92.0 268.0 159.0 87.3 263.5
INTL FCStone 193.3 89.5 270.5 150.7 91.3 262.3
MaxYield 195.0 92.0 270.5 157.0 86.0 268.0
Northstar 192.8 91.5 270.0 157.0 86.0 260.0
Prime-Ag 195.0 93.0 270.0 160.0 87.0 265.0
RMC 194.7 92.1 270.5 159.0 86.7 264.1
US Commodities 194.5 92.0 270.0 160.0 87.0 263.0
Western Milling 190.0 92.0 269.0 158.0 87.0 263.0
Zaner Ag Hedge 192.8 90.9 271.0 157.7 86.2 265.8

Crop Progress
Date 3-Jun 20-May 2017 Avg
Cotton Planted 90 76 90 88
Cotton Squaring 15 9 14 10
Corn Emerged 94 86 93 92
Soybeans Planted 93 87 91 85
Soybeans Emerged 83 68 74 69
Sorghum Planted 80 61 69 68
Sorghum Headed 16 15 12
Peanuts Planted 91 83 94 94
Sunflowers Planted 72 49 77 60
Oats Emerged 95 90 99 97
Oats Headed 33 31 43 42
Winter Wheat Headed 91 83 91 90
Winter Wheat Harvested 14 5 16 10
Spring Wheat Emerged 94 81 94 89
Barley Emerged 92 82 90 90

Crop Condition
Very Poor Poor Fair Good Very Good
Cotton This Week 3 18 37 38 4
Cotton Last Week 1 15 42 38 4
Cotton Last Year 1 4 29 54 12

Corn This Week 1 3 19 59 18
Corn Last Week 1 2 19 61 17
Corn Last Year 2 6 25 57 10

Soybeans This Week 1 3 22 60 14
Soybeans Last Week 1 3 21 61 14
Soybeans Last Year 1 5 28 57 9

Winter Wheat This Week 15 20 27 30 8
Winter Wheat Last Week 14 21 28 29 8
Winter Wheat Last Year 5 11 34 42 8

Spring Wheat This Week 1 2 27 61 9
Spring Wheat Last Week 1 3 26 61 9
Spring Wheat Last Year 7 13 35 38 7

Sorghum This wWeek 4 10 36 46 4
Sorghum Last Week
Sorghum Last Year 0 2 31 62 5

Rice This Week 1 3 25 58 13
Rice Last Week 0 3 23 62 12
Rice Last Year 2 5 25 52 16

Peanuts This Week 2 4 34 53 7
Peanuts Last Week 2 4 35 54 5
Peanuts Last Year 0 3 21 64 12

Oats This Week 4 4 25 57 10
Oats Last Week 4 4 27 56 9
Oats Last Year 4 10 29 49 8

Barley This Week 0 1 16 74 9
Barley Last Week 1 2 18 66 13
Barley Last Year 3 4 21 60 12

Pastures and Ranges This Week 6 13 32 41 8
Pastures and Ranges Last Week 6 12 32 42 8
Pastures and Ranges Last Year 3 8 25 51 13

DJ USDA Grain Inspections for Export in Metric Tons – Jun 11
COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.
INFORMATION CONTAINED IN THIS REPORT REFLECTS EXPORTED GRAIN INSPECTED
AND WEIGHED THROUGH THE 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 JUN 07, 2018
— METRIC TONS —
————————————————————————-
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 06/07/2018 05/31/2018 06/08/2017 TO DATE TO DATE

BARLEY 0 0 144 0 288
CORN 1,408,902 1,555,585 1,072,900 40,969,660 45,395,876
FLAXSEED 0 0 0 0 196
MIXED 0 0 0 24 0
OATS 599 0 0 599 0
RYE 0 0 0 0 0
SORGHUM 4,777 576 1,392 4,624,626 4,813,300
SOYBEANS 644,327 573,294 511,718 47,457,003 51,636,844
SUNFLOWER 0 0 335 0 383
WHEAT 369,969 347,469 801,725 369,969 888,180
Total 2,428,574 2,476,924 2,388,214 93,421,881 102,735,067
————————————————————————-
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 Brazil Raises Soybean Harvest Estimate, Cuts Corn Crop Forecast
By Jeffrey T. Lewis
SÃO PAULO–Brazilian agriculture agency Conab raised its estimate for the country’s soybean harvest, helped by a record crop in the major producing state of Mato Grosso, and cut its forecast for the corn harvest.
Brazilian farmers produced 118 million metric tons of soybeans in the season, Conab said Tuesday, also a record, and up from its forecast of 117 million tons in May. Brazil produced 114.1 million tons of soybeans in the 2016-2017 season, the previous record.
The soybean harvest for this year in Brazil is finished except for a few small areas in some states, Conab said.
Conab forecast a total corn crop of 85 million metric tons in the 2017-2018 season, down from the 89.2 million metric tons the agency forecast in May.
Brazil’s mild winters allow the country’s farmers to plant two crops each year, and farmers often plant a soy crop in the summer and a corn crop in the winter. If planting of the soy crop begins late, as it did in the 2017-2018 season, that shortens the window for planting corn for the second crop and can reduce the size of the second crop, Conab said.

WHEAT
General Comments Wheat markets were lower on what appeared to be some speculative long liquidation before the next round of USDA reports that will be issued tomorrow. The losses were made bigger by selling seen in all markets, but Wheat generally held and is thought to have better upside price potential right now than Corn of Soybeans. The reports should show slightly less production potential here in the US and less around the world as well. Bad weather in many parts of the world continues. The market remains mostly concerned about East Europe and Russia. These areas remain mostly hot and dry. Australia is another producing country where some rains are badly needed. On the other hand, Canada and the northern Great Plains have been getting better rains. The US Winter Wheat harvest is moving north in the Great Plains. Yield reports have been highly variable, but the talk is that the crop yields are a little higher than current trade projections. Yields have ranged anywhere from in the teens to about 50 bushels per acre. The harvest is expected to move fast due to the generally sharply reduced yield potential due to dry conditions in the western Great Plains. Reports indicate that some initial harvest of the Soft Red Winter crop is underway in the Midwest, and yields should be good. The upside was limited by fears of a trade war with Canada and Mexico along with some general selling seen in the Chicago markets.
Overnight News: The southern Great Plains should get mostly dry weather, but some showers are posible in the north and east over the next couple of days. Temperatures should be above normal. Northern areas should see showers off and on into next week. Temperatures should be above normal. The Canadian Prairies should see showers off and on through the weekend. Temperatures should average mostly above normal.
Chart Analysis: Trends in Chicago are mixed to down with objectives of 479 July. Support is at 512, 503, and 499 July, with resistance at 520, 532, and 538 July. Trends in Kansas City are mixed. Support is at 531, 523, and 519 July, with resistance at 540, 549, and 554 July. Trends in Minneapolis are down with objectives of 578 and 559 July. Support is at 581, 574, and 568 July, and resistance is at 597, 605, and 608 July.

RICE:
General Comments: Rice was lower again yesterday, July rallied sharply in a squeeze atmosphere and the July – September spread closed at even money. There was a report of a new tender for 17,000 tons of milled Rice to account for the July moves. Trade tensions remain a focal point as Mexico is the largest buyer of US Rice. Mexico announced some of the markets it would use to retaliate against the US tariffs, and grains were not on the list. There were reports that Mexico will include a tariff on milled Rice, but not Rough Rice. Mexico mostly buys Rough Rice. Potential Iranian and Iraqi demand was hurt when Trump did not certify Iran a couple of weeks ago and moved to get a new nuclear deal with them. US export prices are high right now, and that is hurting demand, but the US is said to have little Rice that it can export now, anyway. Cash market traders say that the domestic cash market remains about unchanged. USDA should make few changes in the domestic estimates today, but might increase exports of old crop and cut ending stocks a bit.
Overnight News: The Delta should get mostly dry weather, but light precipitation is possible this weekend. Temperatures should be above normal.
Chart Analysis: Trends are mixed. Support is at 1145, 1126, and 1124 July, with resistance at 1170, 1184, and 1196 July.

CORN AND OATS
General Comments: Corn closed lower on ideas of good growing conditions and after things went badly in Canada at the G-7 meetings. No one knows what is going on in the talks with Mexico or any other tariff target, and the market is waiting for some answers. It did not get any positive answers over the weekend as relations between the US and Europe appeared to ge worse. In the meantime, the market is starting to prepare for more bad news as Mexico is the largest buyer of US Corn and sould start to look elsewhere for supplies. Ideas that Corn crops are in good condition in the Midwest also keep some selling interest alive. USDA condition ratings were high again last night, and the weekend saw many dry áreas get some very beneficial precipitation. However, there are still some dry pockets scattered around the Midwest, mostly in southern and western áreas. Some northern áreas have had way too much rain, with this área mostly concentrated near the Iowa-Minnesota border. Domestic demand remains strong, and demand for etanol is expected to remain strong. The weather problems with the Winter Corn crop in Brazil continue with no real rains in sight for major growing areas. There are chances for the crop to get smaller if rains do not appear. There are no rains in the forecast.
Overnight News: Mexico bought 152,000 tons of US Corn.
Chart Analysis: Trends in Corn are down with no objectives. Support is at 366, 363, and 362 July, and resistance is at 372, 376, and 379 July. Trends in Oats are mixed. Support is at 238, 236, and 234 July, and resistance is at 246, 248, and 251 July.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and Soybean Meal were lower again due to ideas of good weather and on continuing fears about new Chinese demand. Soybean Oil closed a little higher. The weather in the Midwest improved for both Corn and Soybeans as some dry áreas got some very beneficial rains. Crop ratins stayed higher in the USDA reports overnight. Many traders were also selling in response to the results from the G-7 meetings held over the weekend in Canada. It was a tough weekend for the US due to the trade disputes and tariff wars started by the US. But, the main problema for Soybean demand remains the US-China trade war. The Chinese made an offer to resolve the trade dispute with the US, but no response has been seen yet from Washington. The offer included purchases of up to $70 billion in agricultural and energy goods, but made no mention of intelectual property rights. The issue of intelectual property rights seems to be a big problema to get resolved, and it might be difficult as the Chinese say they are abiding by all agreements in the area. China said that the offer would be withdrawn and no longer valid if tariffs are instituted in response. The Trump administration previously said it was moving ahead with tariffs even though the negotiations between the two countries were going very well. The US went ahead with tariffs on metals imports from the EU, Canada, and Mexico a couple of weeks ago. There will be retaliation, and it is posible that grains and oilseeds will see new or increased tariffs.
Overnight News:
Chart Analysis: Trends in Soybeans are down with objectives of 948 July. Support is at 952, 940, and 928 July, and resistance is at 965, 972, and 977 July. Trends in Soybean Meal are down with objectives of 350.00 July. Support is at 350.00, 346.00, and 340.00 July, and resistance is at 361.00, 364.00, and 367.00 July. Trends in Soybean Oil are down with objectives of 3000 and 2860 July. Support is at 3030, 3020, and 2990 July, with resistance at 3100, 3160, and 3180 July.

CANOLA AND PALM OIL
General Comments: Canola was lower again on US ag markets and reports of better conditions in the Prairies. Some áreas of the western Prairies saw some beneficial rains last week. It is dry in parts of the Prairies, and there is concern that Canola could be affected if some rains do not return soon. Most think overall conditions are good. Funds have been the best sellers and have been liquidating long positions. Palm Oil was lower on ideas of big production and lackluster demand. The MPOB data was negarive to prices, and the exports reported sofar by the private surveyors are well below the pace of last month. The market thinks it has plenty of Palm Oil for any demand, but participants want to see the demand. Exports so far this month ar down from last month. Production is seasonally lower to help ending stocks ideas.
Overnight News:
Chart Analysis: Trends in Canola are down with no objectives. Support is at 516.00, 514.00, and 510.00 July, with resistance at 520.00, 522.00, and 525.00 July. Trends in Palm Oil are mixed to down with no objectives. Support is at 2350, 2330, and 2300 August, with resistance at 2390, 2410, and 2430 August.

MPOB Monthly Supply and Demand Data:
Observation period : May
Frequency : Monthly
Release date : Monday, 11 Jun
Forecast as follows:
Production – 1.49 mil tonnes, Down 4.4%
Exports – 1.40 mil tonnes, Down 9.2%
Ending Stocks – 2.09 mil tonnes, Down 3.8%
Actual as follows:
Production – 1.53 mil tonnes, Down 2.1%
Exports – 1.29 mil tonnes, Down 15.7%
Ending Stocks – 2.17 mil tonnes, Down 0.5%
Prior reading as follows:
Production – 1.56 mil tonnes, Down 0.6%
Exports – 1.54 mil tonnes, Down 1.9%
Ending Stocks – 2.17 mil tonnes, Down 6.5%

Midwest Weather Forecast: Mostly dry, but light precipitation is possible every few days, mostly in the north and east. Temnperatures mostly near normal.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
June 53 July 155 July 60 July 50 July 24-Jul
July 55 September 62 July 50 July
August 50 September 50 September 53 August
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paranagua Paranagua Paranagua Paranagua
July 88 July 6-Jul
August 102 August 4-Aug 85 September
September 4-Sep 84 September

DJ ICE Canada Cash Grain Close – Jun 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 509.50 dn 2.70
Basis: Thunder Bay
1 Can 531.70 dn 0.80
2 Can 518.70 dn 0.80
Basis: Vancouver
1 Can 556.70 dn 0.80
2 Can 543.70 dn 0.80
All prices in Canadian dollars per metric ton.
*Quote for previous day
Source: Commodity News Service Canada (cnscanada@shaw.ca, or 204-414-
9084)

DJ Malaysian PM Cash Market Prices for Palm Oil – June 12
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
Jun 607.50 -12.50 Unquoted – –
Jul 607.50 -12.50 Unquoted – –
Aug/Sep 612.50 -07.50 Unquoted – –
Oct/Nov/Dec 617.50 -05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Jun 610.00 -12.50 Unquoted – –
Jul 610.00 -12.50 Unquoted – –
Aug/Sep 615.00 -07.50 Unquoted – –
Oct/Nov/Dec 620.00 -05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jun 607.50 -02.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jun 492.50 -02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jun 2,350 -30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jun 200 -02.00 Unquoted – –
($1=MYR 3.9870)

DJ China Dalian Grain Futures Closing Prices, Volume – Jun 12
Soybean No. 1
Turnover: 120,216 lots, or 4.32 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-18 3,515 3,515 3,475 3,475 3,529 3,499 -30 10 286
Sep-18 3,575 3,588 3,565 3,580 3,576 3,577 1 105,188 241,354
Nov-18 3,662 3,662 3,615 3,615 3,662 3,638 -24 4 6
Jan-19 3,678 3,695 3,671 3,684 3,680 3,680 0 14,518 33,700
Mar-19 – – – 3,763 3,763 3,763 0 0 2
May-19 3,773 3,785 3,764 3,780 3,777 3,773 -4 362 2,456
Jul-19 – – – 3,761 3,761 3,761 0 0 8
Sep-19 3,823 3,828 3,817 3,824 3,824 3,820 -4 66 220
Nov-19 3,755 3,900 3,755 3,784 3,859 3,822 -37 68 14
Corn
Turnover: 261,528 lots, or 4.65 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-18 1,767 1,771 1,765 1,767 1,767 1,767 0 22,564 105,978
Sep-18 1,752 1,756 1,751 1,753 1,755 1,753 -2 134,148 606,672
Nov-18 1,790 1,795 1,785 1,789 1,790 1,787 -3 16,914 27,244
Jan-19 1,808 1,813 1,805 1,805 1,810 1,808 -2 81,560 403,430
Mar-19 1,840 1,850 1,840 1,847 1,849 1,847 -2 184 3,730
May-19 1,873 1,879 1,869 1,871 1,876 1,873 -3 6,158 49,498
Soymeal
Turnover: 1,406,108 lots, or 41.18 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-18 2,806 2,815 2,786 2,802 2,813 2,799 -14 15,256 51,734
Aug-18 2,892 2,893 2,892 2,893 2,892 2,892 0 14 632
Sep-18 2,904 2,915 2,885 2,910 2,908 2,904 -4 867,878 2,199,870
Nov-18 2,948 2,969 2,932 2,961 2,950 2,954 4 82,242 120,986
Dec-18 – – – 3,003 3,003 3,003 0 0 398
Jan-19 2,995 3,009 2,977 3,004 2,998 2,996 -2 396,212 1,620,646
Mar-19 2,912 2,919 2,901 2,913 2,913 2,910 -3 366 5,706
May-19 2,802 2,813 2,790 2,802 2,807 2,802 -5 44,140 313,716
Palm Oil
Turnover: 327,136 lots, or 16.27 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jun-18 – – – 5,206 5,206 5,206 0 0 0
Jul-18 – – – 5,106 5,106 5,106 0 0 0
Aug-18 – – – 5,236 5,236 5,236 0 0 12
Sep-18 4,964 4,988 4,918 4,924 4,978 4,956 -22 275,576 530,040
Oct-18 5,040 5,040 4,986 4,986 5,016 5,012 -4 8 10
Nov-18 – – – 5,228 5,242 5,228 -14 0 12
Dec-18 – – – 5,140 5,144 5,140 -4 0 6
Jan-19 5,052 5,080 5,026 5,032 5,068 5,054 -14 49,570 185,494
Feb-19 5,042 5,130 5,040 5,120 5,112 5,084 -28 60 2
Mar-19 – – – 5,156 5,156 5,156 0 0 0
Apr-19 – – – 5,238 5,266 5,238 -28 0 18
May-19 5,192 5,206 5,146 5,146 5,196 5,178 -18 1,922 5,072
Soybean Oil
Turnover: 595,536 lots, or 34.38 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-18 5,756 5,756 5,650 5,650 5,656 5,686 30 6 154
Aug-18 – – – 5,920 5,890 5,920 30 0 10
Sep-18 5,738 5,768 5,692 5,700 5,738 5,732 -6 451,228 915,054
Nov-18 5,846 5,888 5,844 5,844 5,876 5,858 -18 6 30
Dec-18 – – – 5,914 5,932 5,914 -18 0 16
Jan-19 5,908 5,930 5,858 5,862 5,900 5,894 -6 139,408 386,238
Mar-19 – – – 6,074 6,074 6,074 0 0 64
May-19 5,994 6,008 5,946 5,950 5,978 5,986 8 4,888 23,584
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