About The Author

Jack Scoville

Jack Scoville is an often quoted market analyst in the grain and soft commodities sectors. You will find his commentary throughout the Reuters, Wall Street Journal, Dow Jones, Bloomberg, and Barron's publications. Contact Mr. Scoville at (312) 264-4322

DJ USDA Hogs And Pigs: U.S. Inventory, By Class, Weight-Jun 28
Hogs and Pigs: Inventory Number by Class, Weight Group,
and Quarter, United States, 2017-2018
====================================================================
2018 as
Item 2017 2018 percent
of 2017
=====================================================================
==- 1,000 Head ==- percent
March 1 inventory
All hogs and pigs 70,701 72,938 103
Kept for breeding 6,098 6,210 102
Market 64,603 66,728 103
Market hogs and pigs by weight groups
Under 50 pounds 20,407 21,047 103
50-119 pounds 17,862 18,422 103
120-179 pounds 14,435 14,941 104
180 pounds and over 11,899 12,317 104
June 1 inventory
All hogs and pigs 71,010 73,451 103
Kept for breeding 6,109 6,320 103
Market 64,901 67,131 103
Market hogs and pigs by weight groups
Under 50 pounds 20,647 21,387 104
50-119 pounds 18,741 19,388 103
120-179 pounds 13,646 14,198 104
180 pounds and over 11,867 12,157 102
September 1 inventory
All hogs and pigs 73,559
Kept for breeding 6,117
Market 67,442
Market hogs and pigs by weight groups
Under 50 pounds 21,673
50-119 pounds 19,781
120-179 pounds 13,919
180 pounds and over 12,069
December 1 inventory
All hogs and pigs 73,695
Kept for breeding 6,179
Market 67,516
Market hogs and pigs by weight groups
Under 50 pounds 21,582
50-119 pounds 18,694
120-179 pounds 14,030
180 pounds and over 13,209
====================================================================

DJ CBOT Delivery Intentions: Totals – Jul 2
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
2 YEAR TREASURY NOTE June Jul. 03, 2018 1250 Jun 01, 2018
SOYBEAN OIL July Jul. 03, 2018 1470 Jun 28, 2018
ROUGH RICE July Jul. 03, 2018 124 Jun 27, 2018
CORN July Jul. 03, 2018 912 Jun 20, 2018
KC HRW WHEAT July Jul. 03, 2018 252 Jun 28, 2018
SOYBEAN July Jul. 03, 2018 929 Jun 28, 2018
WHEAT July Jul. 03, 2018 1 Mar 02, 2018

DJ Canadian 2018/19 Principal Field Crop Area – StatsCan
WINNIPEG–Following is Statistics Canada’s 2018/19
estimates of principal field crop area report. The figures are
as of June 2018, in thousands of acres. Source: Statistics
Canada.
——-acres——-
2018/19 2018/19 2017/18
June March
Barley 6,499 6,059 5,766
Edible Beans 301 246 333
Canary Seed 212 223 255
Canola 22,740 21,383 22,997
Chickpeas 469 346 160
Corn for grain 3,634 3,758 3,576
Fababeans 76 83 95
Flaxseed 885 989 1,040
Lentils 3,767 4,050 4,405
Mixed grains 356 262 303
Mustard seed 504 438 385
Oats 3,053 3,148 3,200
Peas, dry 3,603 3,868 4,093
Rye 201 309 260
Soybeans 6,320 6,452 7,282
Sugar beets 47 28 26
Summerfallow 1,786 1,921 2,200
Sunflower seed 79 45 65
Triticale 99 76 65
Total wheat 24,710 25,259 22,391
Durum wheat 6,185 5,777 5,205
Spring wheat 17,296 18,241 15,801
Winter wheat 1,228 1,242 1,385
*Total wheat includes spring wheat, durum wheat, and winter
wheat remaining after winterkill
Source: Commodity News Service Canada (cnscanada@shaw.ca, or
204-414-9084)

DJ USDA Report: Summary For June Acreage, Quarterly Grain Stocks
The following table is provided as a service to Wall Street Journal
subscribers in conjunction with the U.S. Department of Agriculture’s
quarterly stockpiles and acreage reports scheduled for release at
noon ET on Friday.
U.S. Stockpiles on June 1, 2018 (million bushels)
Friday’s
Estimate Average Range June 1 2017 March 1 2018
Corn 5,306 5,263 5,004-5,450 5,229 8,892
Soybeans 1,222 1,218 1,115-1,283 966 2,109
Wheat 1,100 1,098 1,042-1,200 1,181 1,495
***
U.S. Grain, Soybean Planting (million acres)
Friday’s
Estimate Average Range USDA March USDA 2017
Corn 89.128 88.372 87.5-89.0 88.026 90.167
Soybeans 89.557 89.789 89.3-89.7 88.982 90.142
All Wheat 47.821 47.122 46.7-47.7 47.339 46.012
Winter Wheat 32.732 32.718 32.6-33.1 32.708 32.696
Spring Wheat 13.202 12.413 12.0-13.0 12.627 11.009
Durum Wheat 1.887 2.017 2.0-2.1 2.004 2.307

WHEAT
General Comments Wheat markets were higher after the USDA reports, with news that French production had been downgraded the main feature of the market. The USDA quarterly stocks reports held no real surprises, but the planted area report showed that much more Spring Wheat had been planted when compared to trade expectations. The StatsCan planted area report also showed that more Spring Wheat had been planted when compared to expectations, so new crop Minneapolis futures got a double dose of bad news on Friday. The overall price action remains weak due to price weakness in Black Sea ports and some forecasts for improved rains on the fringes of the production areas of eastern Europe and Russia. It is also sensing the US harvest that is now moving passed the halfway point. The market remains mostly concerned about East Europe and Russia, but Australia has also had drought problems. These areas remain mostly hot and dry, but there have been some showers recently in parts of Ukraine. Australia is another producing country where some rains are badly needed, but only some showers have been reported. Production estimates have been dropping. 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 and Midwest. Yield reports in the Great Plains have been highly variable, but Midwest yield reports have been good. Protein levels for Great Plains Wheat have been strong as is usual during warm and dry growing seasons.
Overnight News: The southern Great Plains should get mostly dry weather. Temperatures should be above normal. Northern areas should see frequent periods of precipitation. Temperatures should be above normal. The Canadian Prairies should see showers today and late this week. Temperatures should average near to above normal. Egypt bought 120,000 tons of Russian Wheat.
Chart Analysis: Trends in Chicago are mixed. Support is at 492, 483, and 476 September, with resistance at 509, 521, and 537 September. Trends in Kansas City are mixed. Support is at 488, 472, and 469 September, with resistance at 496, 503, and 512 September. Trends in Minneapolis are mixed to down with objectives of 526 September. Support is at 534, 528, and 522 September, and resistance is at 543, 550, and 555 September.

COT — Supplemental Report – Option and Futures Combined Positions as of June 26, 2018
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
WHEAT-SRW – CHICAGO BOARD OF TRADE
CFTC Code #001602 Open Interest is 589,541
: Positions :
: 82,764 122,347 179,095 112,304 194,323 186,114 46,766 560,276 542,531: 29,264 47,009
: Changes from: June 19, 2018 (Change in open interest: -63,217) :
: -3,173 -229 -35,839 -8,790 -11,032 -13,617 -14,959 -61,419 -62,059: -1,798 -1,158
: Percent of Open Interest Represented by Each Category of Trader :
: 14.0 20.8 30.4 19.0 33.0 31.6 7.9 95.0 92.0: 5.0 8.0
: Total Traders: 435 Number of Traders in Each Category :
: 103 151 149 95 109 35 18 339 339:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 26, 2018
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
WHEAT-HRW – CHICAGO BOARD OF TRADE
CFTC Code #001612 Open Interest is 264,423
: Positions :
: 66,741 37,577 45,947 65,960 133,227 65,114 19,760 243,761 236,512: 20,661 27,911
: Changes from: June 19, 2018 (Change in open interest: -29,982) :
: -2,699 10,930 -11,901 -6,976 -25,556 -8,095 -3,196 -29,671 -29,723: -312 -259
: Percent of Open Interest Represented by Each Category of Trader :
: 25.2 14.2 17.4 24.9 50.4 24.6 7.5 92.2 89.4: 7.8 10.6
: Total Traders: 251 Number of Traders in Each Category :
: 76 48 62 70 79 25 14 196 188:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 26, 2018
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
WHEAT-HRSpring – MINNEAPOLIS GRAIN EXCHANGE (CONTRACTS OF 5,000 BUSHELS) :
CFTC Code #001626 Open Interest is 55,327 :
: Positions :
: 26,688 22,288 2,586 0 152 5,485 13,376 950 4,991 2,594 2,699 :
: Changes from: June 19, 2018 :
: -2,657 -3,396 -747 0 -128 76 2,643 437 -316 -1,531 -439 :
: Percent of Open Interest Represented by Each Category of Trader :
: 48.2 40.3 4.7 0.0 0.3 9.9 24.2 1.7 9.0 4.7 4.9 :
: Number of Traders in Each Category Total Traders: 89 :
: 44 33 4 0 . 10 15 4 8 4 8 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 26, 2018
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
BLACK SEA WHEAT FINANCIAL – CHICAGO BOARD OF TRADE 50 Metric Tons :
CFTC Code #00160F Open Interest is 21,900 :
: Positions :
: 10,930 20,920 400 180 300 9,510 0 0 200 100 300 :
: Changes from: June 19, 2018 :
: 10 -140 0 0 0 -50 0 0 0 100 0 :
: Percent of Open Interest Represented by Each Category of Trader :
: 49.9 95.5 1.8 0.8 1.4 43.4 0.0 0.0 0.9 0.5 1.4 :
: Number of Traders in Each Category Total Traders: 22 :
: 9 14 . . . . 0 0 . . . :
—————————————————————————————————————-

RICE:
General Comments: Rice was Little changed, except July was higher, in response to the USDA reports. The reports showed that a very tight supply situation has developed and is developing for old crop Rice. The market overall shows the tight nearby supplies with farmers in the US mostly sold out. The reports showed that much more area had been planted to Rice than expected. The market had expected about 2.73 million acres had been planted, but USDA found about 2.84 million had already been planted. The crop has been running a little late this year and there are ideas that there will not be much new crop Rice available to deliver against the September contract. That means that bull spreads should continue to work for a while longer. Trade tensions remain a focal point as Mexico is the largest buyer of US Rice. Most of the US crop appears in good shape.
Overnight News: The Delta should get mostly dry weather. Temperatures should be above normal.
Chart Analysis: Trends are mixed to up with no objectives. Support is at 1110, 1104, and 1087 September, with resistance at 1144, 1152, and 1155 September.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 26, 2018
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
ROUGH RICE – CHICAGO BOARD OF TRADE (CONTRACTS OF 200,000 POUNDS) :
CFTC Code #039601 Open Interest is 8,629 :
: Positions :
: 4,621 3,612 194 0 0 446 3,027 7 962 130 455 :
: Changes from: June 19, 2018 :
: -1,372 -373 -235 0 0 87 -928 0 -4 -35 -1,575 :
: Percent of Open Interest Represented by Each Category of Trader :
: 53.5 41.9 2.2 0.0 0.0 5.2 35.1 0.1 11.2 1.5 5.3 :
: Number of Traders in Each Category Total Traders: 51 :
: 13 11 . 0 0 4 10 . 14 4 9 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn closed higher despite negative USDA reports released them Friday. USDA released its quarterly stocks and annual planted acreage reports. Corn stocks and planted area were higher than the average trade expectation, and Corn planted area was above all trade expectations. Production estimates for now will be well over 14.2 billion bushels. Corn still is a market with positive fundamentals and has a chance to move higher. The market will now have to pay more attention to the Midwest weather and will see a big crop coming as good conditions continue. Temperatures will now turn hot for a few days and possibly could stay hot for a couple of weeks according to some of the computer models. . Prices could move significantly higher if a very big crop is not assured as the demand is consistent. There are still some dry pockets scattered around the Midwest, mostly in southern and western areas. Some northern areas have had way too much rain, with this area mostly concentrated near the Iowa-Minnesota border. A trip to east central Wisconsin over the weekend showed that the Corn is very short
Overnight News:
Chart Analysis: Trends in Corn are mixed to down with objectives of 349 and 337 September. Support is at 354, 352, and 348 September, and resistance is at 361, 365, and 369 September. Trends in Oats are mixed. Support is at 235, 233, and 230 September, and resistance is at 245, 247, and 251 September.

COT — Supplemental Report – Option and Futures Combined Positions as of June 26, 2018
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
CORN – CHICAGO BOARD OF TRADE
CFTC Code #002602 Open Interest is 2,386,393
: Positions :
: 379,066 387,108 585,211 737,609 978,761 460,447 172,951 2,162,334 2,124,031: 224,059 262,362
: Changes from: June 19, 2018 (Change in open interest: -249,563) :
: -5,037 38,008 -133,980 -63,456 -110,249 -45,019 -33,286 -247,493 -239,508: -2,070 -10,055
: Percent of Open Interest Represented by Each Category of Trader :
: 15.9 16.2 24.5 30.9 41.0 19.3 7.2 90.6 89.0: 9.4 11.0
: Total Traders: 954 Number of Traders in Each Category :
: 255 154 250 408 415 36 24 795 767:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 26, 2018
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
OATS – CHICAGO BOARD OF TRADE (CONTRACTS OF 5,000 BUSHELS) :
CFTC Code #004603 Open Interest is 5,297 :
: Positions :
: 1,549 2,092 235 0 0 0 1,214 0 1,051 106 184 :
: Changes from: June 19, 2018 :
: -11 90 -61 0 0 -70 25 0 224 31 -289 :
: Percent of Open Interest Represented by Each Category of Trader :
: 29.2 39.5 4.4 0.0 0.0 0.0 22.9 0.0 19.8 2.0 3.5 :
: Number of Traders in Each Category Total Traders: 26 :
: 8 9 . 0 0 0 7 0 4 . . :
—————————————————————————————————————-

SOYBEANS AND PRODUCTS
General Comments: Soybeans and products were lower again last week due to ideas of good weather and on continuing fears about new Chinese demand. US futures also reacted to the USDA reports on Friday that showed stocks levels as expected by the trade, but less planted area against trade expectations. But, the main problem 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 tariffs are scheduled to start on July 6, but everyone hopes for a deal first. The issue of intellectual property rights seems to be a big problem 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 possible that grains and oilseeds will see new or increased tariffs. USDA said that it will account for the potential changes to export demand starting with the July monthly supply and demand data.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed to down with objectives of 863 August. Support is at 860, 848, and 836 August, and resistance is at 885, 896, and 904 August. Trends in Soybean Meal are mixed. Support is at 330.00, 323.00, and 320.00 August, and resistance is at 337.00, 341.00, and 350.00 August. Trends in Soybean Oil are mixed to down with objectives of 2870 and 2810 August. Support is at 2900, 2870, and 2840 August, with resistance at 2950, 2970, and 3010 August.

COT — Supplemental Report – Option and Futures Combined Positions as of June 26, 2018
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEANS – CHICAGO BOARD OF TRADE
CFTC Code #005602 Open Interest is 1,020,620
: Positions :
: 91,649 167,074 243,654 376,323 413,391 232,248 91,540 943,874 915,660: 76,746 104,960
: Changes from: June 19, 2018 (Change in open interest: -179,153) :
: -10,854 12,181 -88,186 -49,424 -86,327 -32,574 -10,978 -181,038 -173,310: 1,885 -5,843
: Percent of Open Interest Represented by Each Category of Trader :
: 9.0 16.4 23.9 36.9 40.5 22.8 9.0 92.5 89.7: 7.5 10.3
: Total Traders: 707 Number of Traders in Each Category :
: 197 162 239 215 244 37 19 568 570:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 26, 2018
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEAN OIL – CHICAGO BOARD OF TRADE
CFTC Code #007601 Open Interest is 524,465
: Positions :
: 100,795 163,104 108,029 156,495 196,074 115,741 18,544 481,061 485,751: 43,404 38,714
: Changes from: June 19, 2018 (Change in open interest: -38,224) :
: 3,131 -2,783 -21,787 -8,910 -11,974 -14,897 -4,951 -42,462 -41,495: 4,238 3,271
: Percent of Open Interest Represented by Each Category of Trader :
: 19.2 31.1 20.6 29.8 37.4 22.1 3.5 91.7 92.6: 8.3 7.4
: Total Traders: 342 Number of Traders in Each Category :
: 66 108 107 79 72 29 19 251 266:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 26, 2018
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
SOYBEAN MEAL – CHICAGO BOARD OF TRADE
CFTC Code #026603 Open Interest is 545,769
: Positions :
: 93,467 26,814 134,824 150,603 320,177 116,786 25,548 495,681 507,363: 50,088 38,406
: Changes from: June 19, 2018 (Change in open interest: -48,247) :
: -16,672 -378 -16,031 -8,369 -24,923 -7,351 -9,318 -48,424 -50,649: 178 2,403
: Percent of Open Interest Represented by Each Category of Trader :
: 17.1 4.9 24.7 27.6 58.7 21.4 4.7 90.8 93.0: 9.2 7.0
: Total Traders: 327 Number of Traders in Each Category :
: 92 46 112 103 104 28 13 286 248:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Canola was lower in reaction to the Chicago price action and despite less planted area from StatsCan than expected Reports of improved conditions in the Prairies help keep selling interest alive on rallies. Conditions are still somewhat favorable in the Prairies. Some areas of the western Prairies saw some beneficial rains last week, but some areas remain too hot and dry. StatsCan releases updated acreage projections on Friday, and Canola is expected to show increased planted area, Palm Oil was a little higher on ideas that Malaysian production will drop a bit this month. June demand should be weak again when the private sources release data early next week. Production ideas are about steady from last month. The exports reported so far 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. Production is seasonally lowered to help ending stocks ideas.
Overnight News: SGS said Malaysian Palm Oil exports were 1.058 million tons in June, from 1.199 million in the previous month.
Chart Analysis: Trends in Canola are mixed. Support is at 507.00, 503.00, and 500.00 November, with resistance at 514.00, 516.00, and 517.00 November. Trends in Palm Oil are up with objectives of 2340 and 2390 September. Support is at 2290, 2270, and 2240 September, with resistance at 2350, 2390, and 2420 September.

DJ Canadian Grain Handling Summary – Jun 29
WINNIPEG–The following are Canadian grain handling summary statistics
for the week ended June 24, 2018. Figures in thousands of metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This week 2080.8 536.3 160.9 268.4 64.1 1018.0 328.6 143.6 5150.8
Week ago 2207.0 556.8 152.3 298.2 71.0 1066.4 333.1 207.1 5433.5
Year ago 2786.3 649.3 160.3 302.5 89.4 808.3 131.3 146.9 5386.5
PRODUCER DELIVERIES
This Week 428.8 132.2 44.0 42.5 18.3 354.7 58.7 11.2 1175.8
Week Ago 430.4 120.6 44.1 43.6 18.8 357.0 76.2 23.7 1198.1
To Date 16704.6 3536.0 1971.5 2860.4 428.3 17414.4 2748.4 581.9 50097.3
Year Ago 16481.0 4639.9 1718.0 2481.7 359.4 17910.2 3854.7 380.7 51726.9
Terminal Receipts
This Week 325.4 36.3 0.0 18.7 3.4 189.7 14.7 57.2 695.5
Week Ago 330.4 64.3 4.0 28.1 10.5 228.3 34.7 71.6 894.4
To Date 16316.3 3889.9 212.4 1644.0 196.4 9862.2 1760.6 1107.0 40596.6
Year Ago 15900.8 5267.1 162.1 1170.0 244.1 10951.5 3140.7 928.9 43713.8
EXPORTS
This Week 371.6 36.7 24.1 10.0 9.0 192.4 23.6 129.8 887.7
Week Ago 360.2 33.0 20.0 3.0 1.1 225.7 62.2 71.5 836.7
To Date 14767.1 3517.5 1405.3 1748.8 275.8 9355.5 1867.5 1138.1 38160.8
Year Ago 12939.7 3886.9 1068.3 1141.9 259.6 9978.3 3310.0 756.8 37947.7
DOMESTIC DISAPPEARANCE
This Week 76.2 31.3 5.5 25.3 0.3 155.3 1.9 26.2 349.0
Week Ago 63.2 3.8 5.3 25.3 1.3 160.5 2.5 24.3 320.8
To Date 4234.4 674.4 277.9 1124.0 51.3 8414.1 207.4 781.9 18063.8
Year Ago 2648.9 284.3 235.2 1179.0 47.0 8187.2 156.8 477.3 14461.3
*Totals include data from other crops not shown including rye, soybeans,
canary seed, mustard seed, beans, lentils and chickpeas.
**Year Ago values for domestic disappearance and exports do not include
producer car volumes.
Source: Commodity News Service Canada (cnscanada@shaw.ca, or 204-414-9084)

Midwest Weather Forecast: Mostly dry and warm early in the week, chances for showers and cooler late in the week.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
June 53 July 146 July 62 July 55 July 25-Jul
July 55 September 66 July 55 July
August 52 September 50 September 56 August
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Paraguay
July 13-Jul
August 10-Aug 85 September
September 210 September 12-Sep 85 September

DJ ICE Canada Cash Grain Close – Jun 28
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 509.90 up 4.90
Basis: Thunder Bay
1 Can 535.40 dn 2.50
2 Can 522.40 dn 2.50
Basis: Vancouver
1 Can 560.40 dn 2.50
2 Can 547.40 up 2.50
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 – July 2
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Monday, 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
Jul 600.00 00.00 Unquoted – –
Aug 602.50 00.00 Unquoted – –
Sep 602.50 00.00 Unquoted – –
Oct/Nov/Dec 607.50 00.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jul 602.50 00.00 Unquoted – –
Aug 605.00 00.00 Unquoted – –
Sep 605.00 00.00 Unquoted – –
Oct/Nov/Dec 610.00 00.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jul 595.00 -02.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jul 495.00 00.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jul 2,350 +20.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jul 220.00 -05.00 Unquoted – –
($1=MYR4.0382)

DJ China Dalian Grain Futures Closing Prices, Volume – Jul 02
Soybean No. 1
Turnover: 194,188 lots, or 7.24 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-18 – – – 3,645 3,645 3,645 0 0 144
Sep-18 3,681 3,741 3,681 3,716 3,677 3,715 38 170,630 187,130
Nov-18 – – – 3,715 3,715 3,715 0 0 8
Jan-19 3,796 3,827 3,784 3,809 3,782 3,806 24 22,212 75,656
Mar-19 3,848 3,848 3,799 3,799 3,754 3,823 69 4 6
May-19 3,839 3,868 3,834 3,845 3,836 3,853 17 1,220 4,294
Jul-19 3,908 3,908 3,908 3,908 3,779 3,908 129 2 8
Sep-19 3,936 3,953 3,911 3,931 3,925 3,929 4 120 204
Nov-19 – – – 3,886 3,883 3,886 3 0 14
Corn
Turnover: 321,428 lots, or 5.85 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-18 1,779 1,779 1,754 1,754 1,754 1,774 20 12 24,918
Sep-18 1,789 1,792 1,783 1,785 1,783 1,787 4 158,992 558,778
Nov-18 1,818 1,824 1,814 1,815 1,810 1,819 9 40,438 35,160
Jan-19 1,847 1,855 1,847 1,848 1,845 1,851 6 105,530 529,966
Mar-19 1,883 1,889 1,883 1,885 1,877 1,886 9 478 3,478
May-19 1,924 1,929 1,919 1,920 1,916 1,924 8 15,978 99,302
Soymeal
Turnover: 2,805,826 lots, or 89.17 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-18 3,060 3,072 3,026 3,059 3,011 3,059 48 788 4,964
Aug-18 3,115 3,158 3,115 3,154 3,100 3,137 37 72 586
Sep-18 3,150 3,188 3,129 3,178 3,129 3,162 33 1,609,150 1,865,826
Nov-18 3,180 3,229 3,166 3,222 3,166 3,202 36 179,186 130,976
Dec-18 3,220 3,220 3,220 3,220 3,184 3,220 36 2 360
Jan-19 3,226 3,258 3,202 3,252 3,205 3,230 25 920,306 1,936,702
Mar-19 3,055 3,081 3,010 3,072 3,045 3,064 19 468 5,532
May-19 2,876 2,912 2,873 2,896 2,876 2,893 17 95,854 415,356
Palm Oil
Turnover: 355,154 lots, or 17.32 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-18 – – – 5,106 5,106 5,106 0 0 0
Aug-18 5,040 5,040 4,916 4,916 4,844 4,978 134 4 20
Sep-18 4,856 4,892 4,828 4,872 4,856 4,856 0 272,314 378,084
Oct-18 4,880 4,880 4,880 4,880 4,862 4,880 18 4 8
Nov-18 – – – 4,900 4,900 4,900 0 0 10
Dec-18 – – – 4,942 4,942 4,942 0 0 6
Jan-19 4,942 4,974 4,916 4,946 4,946 4,942 -4 80,226 254,248
Feb-19 5,074 5,074 5,000 5,000 4,934 5,036 102 4 6
Mar-19 – – – 4,980 4,980 4,980 0 0 0
Apr-19 – – – 5,082 5,082 5,082 0 0 18
May-19 5,060 5,094 5,036 5,058 5,068 5,060 -8 2,602 31,816
Jun-19 – – – 5,068 5,068 5,068 0 0 8
Soybean Oil
Turnover: 467,766 lots, or 26.44 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-18 – – – 5,400 5,326 5,400 74 0 62
Aug-18 – – – 5,494 5,494 5,494 0 0 10
Sep-18 5,580 5,622 5,554 5,596 5,580 5,586 6 294,218 667,928
Nov-18 – – – 5,610 5,610 5,610 0 0 52
Dec-18 – – – 5,736 5,736 5,736 0 0 16
Jan-19 5,756 5,796 5,736 5,776 5,760 5,764 4 156,872 495,458
Mar-19 5,864 5,864 5,864 5,864 5,852 5,864 12 2 64
May-19 5,786 5,804 5,742 5,768 5,794 5,768 -26 16,674 55,086
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