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 Cold Storage: Totals-Dec 21
WASHINGTON (Dow Jones)==U.S. stocks of pork bellies in freezers
totaled 36.859 million pounds, in November, 38.1% above the previous
month, and 4.8% above November 2017, the U.S. Department Agriculture
said Friday.
In thousand pounds.
public
Nov 30 Oct 31 Nov Oct warehouse
2018 2018 2017 2017 stocks/Nov
pork bellies 36,859 26,690 35,164
orange juice 528,847 566,387 468,090
french fries 963,212 1,002,221 1,010,300
other potatoes 235,390 247,991 263,835
chicken rstr (whole) 17,738 17,072 16,350
ham 96,380 176,085 98,224
total pork 507,557 570,894 502,324 455,003
total beef 514,720 515,584 485,187 508,419
total red meat 1,069,243 1,135,640 1,032,287 1,010,296
total chicken 935,193 940,620 896,602
total turkey 274,123 445,016 288,536
total poultry 1,212,266 1,389,038 1,188,015 1,140,393
================================================================================

WHEAT
General Comments Winter Wheat markets were lower for the week as Russia still has not regulated exports. A meeting on Friday between the government and exporters was supposed to reaffirm the agreement between the two to limit exports or face controls, but instead produced an announcement that exports could actually be a little larger for the year than previously agreed to. The move caused selling in the US and all three markets are now in short-term down trends on the weekly charts. However, world markets were firm to higher, so Wheat could respond with higher prices this week. The US market needs demand, and the weekly export sales report remain average at best. Ideas are that demand for US Wheat is about to improve, and the weekly charts show that higher prices possible in the next few weeks. World crop reports continue to indicate less production and tightening supplies. Firm prices extend from Russia to Australia on reduced world production, although Russia still shows the potential for strong exports this year. Australian and European prices have also been relatively strong. Argentine prices showed a little weakness last week as the weather in the country is about to turn drier and more favorable for the remaining Wheat crop to be harvested. The crop might have suffered some quality damage.
Overnight News: The southern Great Plains should get mostly dry weather early and some precipitation starting on Wednesday. Temperatures should be above normal. Northern areas should see precipitation mid-week. Temperatures should be near to above normal. The Canadian Prairies should see mostly dry conditions. Temperatures should be above normal.
Chart Analysis: Trends in Chicago are down with objectives of 508 March. Support is at 510, 504, and 500 March, with resistance at 520, 530, and 538 March. Trends in Kansas City are down with objectives of 498 March. Support is at 491, 485, and 483 March, with resistance at 508, 517, and 524 March. Trends in Minneapolis are down with no objectives. Support is at 561, 559, and 554 March, and resistance is at 568, 574, and 576 March.

COT — Supplemental Report – Option and Futures Combined Positions as of December 18, 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 538,634
: Positions :
: 72,808 110,370 162,725 87,541 161,500 179,422 58,114 502,496 492,709: 36,138 45,926
: Changes from: December 11, 2018 (Change in open interest: 20,057) :
: 7,784 -8,023 11,623 -6,025 11,718 3,988 4,749 17,370 20,067: 2,687 -10
: Percent of Open Interest Represented by Each Category of Trader :
: 13.5 20.5 30.2 16.3 30.0 33.3 10.8 93.3 91.5: 6.7 8.5
: Total Traders: 399 Number of Traders in Each Category :
: 103 113 138 90 110 47 23 323 310:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of December 18, 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 309,503
: Positions :
: 71,088 75,869 64,771 74,513 130,843 70,234 15,875 280,607 287,358: 28,897 22,145
: Changes from: December 11, 2018 (Change in open interest: 1,731) :
: -3,419 -8,315 3,848 1,328 6,623 -1,524 -1,161 232 995: 1,498 735
: Percent of Open Interest Represented by Each Category of Trader :
: 23.0 24.5 20.9 24.1 42.3 22.7 5.1 90.7 92.8: 9.3 7.2
: Total Traders: 271 Number of Traders in Each Category :
: 69 55 70 75 88 34 13 211 198:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of December 18, 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 60,859 :
: Positions :
: 30,715 27,975 1,882 0 0 8,215 11,255 1,307 5,130 7,515 2,209 :
: Changes from: December 11, 2018 :
: 561 2,141 109 0 -7 -463 -3,571 427 26 1,583 -154 :
: Percent of Open Interest Represented by Each Category of Trader :
: 50.5 46.0 3.1 0.0 0.0 13.5 18.5 2.1 8.4 12.3 3.6 :
: Number of Traders in Each Category Total Traders: 90 :
: 44 31 4 0 0 9 8 4 9 7 8 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of December 18, 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 18,736 :
: Positions :
: 9,927 16,278 1,078 400 500 6,137 0 0 414 500 100 :
: Changes from: December 11, 2018 :
: -800 -131 -191 0 300 835 0 -150 -34 0 0 :
: Percent of Open Interest Represented by Each Category of Trader :
: 53.0 86.9 5.8 2.1 2.7 32.8 0.0 0.0 2.2 2.7 0.5 :
: Number of Traders in Each Category Total Traders: 25 :
: 10 12 . . . . 0 0 . . . :
—————————————————————————————————————-

RICE
General Comments: Rice was slightly higher on Friday, but slightly lower for the week in continued slow trading. Weekly charts show the potential for a down trend, and the quiet tone in the cash market is reflected in the futures market as buyers and sellers are not eager to be involved. The holiday period is usually very quiet for the US cash market, and this year has seen a slow trade and stable prices. However, basis levels have been firming as the market needs a little Rice and is not getting much offer from the producers. Producers do not seem interested in further sales at this time. The export demand is holding relatively strong, and there is some mill demand. It will probably take until after the first of the year to see much movement in Rice futures and cash markets.
Overnight News: The Delta should get precipitation over the second half of the week. Temperatures should be mostly near to above normal.
Chart Analysis: Trends are mixed. Support is at 1037, 1035, and 1033 January, with resistance at 1064, 1069, and 1071 January.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of December 18, 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 8,282 :
: Positions :
: 5,356 3,974 151 0 0 0 2,269 5 830 17 569 :
: Changes from: December 11, 2018 :
: -138 -513 0 0 0 -233 536 -99 163 1 93 :
: Percent of Open Interest Represented by Each Category of Trader :
: 64.7 48.0 1.8 0.0 0.0 0.0 27.4 0.1 10.0 0.2 6.9 :
: Number of Traders in Each Category Total Traders: 46 :
: 12 12 . 0 0 0 10 . 10 5 10 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn was higher for the week, but price weakness in the middle of the week kept the weekly price gains small. Trends are down short-term on the daily and up on weekly charts. The Corn market seems to found increased selling interest when prices get close to the 390 March area, and has failed now with the recent weakness in prices. Corn demand for ethanol has softened in the wake of the crushing move to lower prices over the last couple of months in petroleum futures markets. Ethanol prices have also weakened and blenders no longer have a profit margin and are cutting back on production. Export demand as noted in the USDA weekly sales reports represented a very strong week, and demand for US Corn in the world market and the domestic market is considered strong. The weather in the Midwest was somewhat better for harvesting as conditions were warm and dry early in the week. Wetter weather was noted in central and eastern areas late in the week. Cool, but quiet conditions are expected for much of this week, although significant precipitation is possible midweek from west to east. Planting progress in southern Brazil is reported to be ahead of the normal pace. Argentine planting progress is in line with its average pace.
Overnight News:
Chart Analysis: Trends in Corn are down with objectives of 374 and 366 March. Support is at 375, 372, and 370 March, and resistance is at 380, 384, and 387 March. Trends in Oats are down with objectives of 270 and 254 March. Support is at 273, 263, and 260 March, and resistance is at 280, 282, and 284 March.

COT — Supplemental Report – Option and Futures Combined Positions as of December 18, 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 1,903,441
: Positions :
: 269,499 207,127 423,936 553,943 925,540 449,251 126,983 1,696,629 1,683,586: 206,812 219,854
: Changes from: December 11, 2018 (Change in open interest: 2,471) :
: 15,529 -17,095 4,845 -13,336 12,849 1,046 -43 8,083 555: -5,612 1,916
: Percent of Open Interest Represented by Each Category of Trader :
: 14.2 10.9 22.3 29.1 48.6 23.6 6.7 89.1 88.4: 10.9 11.6
: Total Traders: 849 Number of Traders in Each Category :
: 173 137 205 352 388 50 26 681 672:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of December 18, 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 6,080 :
: Positions :
: 1,121 4,089 149 0 0 1,361 199 0 1,245 550 163 :
: Changes from: December 11, 2018 :
: -81 98 0 0 0 34 2 0 15 -151 -4 :
: Percent of Open Interest Represented by Each Category of Trader :
: 18.4 67.3 2.5 0.0 0.0 22.4 3.3 0.0 20.5 9.1 2.7 :
: Number of Traders in Each Category Total Traders: 33 :
: 8 10 . 0 0 9 . 0 6 . 4 :

SOYBEANS AND PRODUCTS
General Comments: Soybeans and products were lower last week despite news of new Chinese purchases of US Soybeans. The weekly export sales report was very strong in part to the first round of Chinese buying, and they bought more last week. The country might have bought 4.0 million tons in the last couple of weeks. China bought US Soybeans to fulfill its part of an agreement made in Buenos Aires, and it is expected to buy more in the next few weeks. However, the market knows that there are plenty of Soybeans to sell from the US and South America. Plus, there are no guarantees that the overall trade dispute will be resolved in the next three months, and the trade war could intensify if an agreement is not found. Brazil has been planting and plans on bigger crops. Argentina is also planting, but most of the trade attention is on Brazil. Producers in southern areas are ahead of the normal pace for planting progress, and there are reports of limited harvest activity in western Parana and in the Mato Grosso. Meanwhile, ending stocks projections for the US are very high and give little reason to expect a major rally anytime soon.
Overnight News:
Chart Analysis: Trends in Soybeans are down with objectives of 868, 843, and 837 January. Support is at 880, 871, and 864 January, and resistance is at 897, 900, and 903 January. Trends in Soybean Meal are mixed. Support is at 303.00, 300.00, and 297.00 January, and resistance is at 309.00, 312.00, and 315.00 January. Trends in Soybean Oil are down with objectives of 2780, 2760, and 2700 January. Support is at 2770, 2760, and 2740 January, with resistance at 2830, 2850, and 2880 January.

COT — Supplemental Report – Option and Futures Combined Positions as of December 18, 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 876,677
: Positions :
: 62,869 115,479 230,121 325,881 370,213 191,029 58,368 809,899 774,181: 66,777 102,496
: Changes from: December 11, 2018 (Change in open interest: -6,761) :
: -155 -11,397 -1,898 -412 5,838 -4,725 3,024 -7,190 -4,434: 429 -2,327
: Percent of Open Interest Represented by Each Category of Trader :
: 7.2 13.2 26.2 37.2 42.2 21.8 6.7 92.4 88.3: 7.6 11.7
: Total Traders: 623 Number of Traders in Each Category :
: 121 163 213 209 233 45 27 508 531:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of December 18, 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 508,126
: Positions :
: 59,909 105,808 138,914 155,850 221,514 115,353 11,882 470,026 478,119: 38,100 30,007
: Changes from: December 11, 2018 (Change in open interest: -25,256) :
: -3,876 -547 -8,420 -4,513 -8,288 -7,584 -6,374 -24,394 -23,629: -862 -1,627
: Percent of Open Interest Represented by Each Category of Trader :
: 11.8 20.8 27.3 30.7 43.6 22.7 2.3 92.5 94.1: 7.5 5.9
: Total Traders: 319 Number of Traders in Each Category :
: 64 85 106 84 74 37 16 253 242:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of December 18, 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 470,693
: Positions :
: 46,187 58,372 98,311 159,726 249,317 109,748 25,912 413,972 431,912: 56,722 38,781
: Changes from: December 11, 2018 (Change in open interest: -17,696) :
: 1,064 -3,166 -11,018 -5,388 -500 -2,051 -2,939 -17,393 -17,623: -303 -73
: Percent of Open Interest Represented by Each Category of Trader :
: 9.8 12.4 20.9 33.9 53.0 23.3 5.5 87.9 91.8: 12.1 8.2
: Total Traders: 293 Number of Traders in Each Category :
: 60 62 88 101 87 35 15 250 216:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Canola was lower along with Chicago. Some selling came on good weather in South America that is producing ideas of huge crops there. Commercials have plenty on hand for crushing or exporting. The daily charts show that futures are in a down trend. Palm Oil was a little lower on what appeared to be some long liquidation by speculators. Weaker world vegetable oils prices were a dragon  Palm Oil.
Overnight News:
Chart Analysis: Trends in Canola are down with objectives of 471.00 January. Support is at 472.00, 471.00, and 469.00 January, with resistance at 478.00, 481.00, and 483.00 January. Trends in Palm Oil are up with objectives of 2275 and 2400 March. Support is at 2140, 2130, and 2100 March, with resistance at 2200, 2220, and 2250 March.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of December 18, 2018
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
CANOLA – ICE FUTURES U.S. (20 Metric Tonnes) :
CFTC Code #135731 Open Interest is 180,316 :
: Positions :
: 110,219 80,907 5,585 963 246 31,589 63,180 12,365 8,823 11,308 9,925 :
: Changes from: December 11, 2018 :
: -1,571 -7,430 -4,934 -339 -86 -382 -1,792 1,369 -1,480 935 -1,412 :
: Percent of Open Interest Represented by Each Category of Trader :
: 61.1 44.9 3.1 0.5 0.1 17.5 35.0 6.9 4.9 6.3 5.5 :
: Number of Traders in Each Category Total Traders: 226 :
: 29 24 4 4 . 6 52 12 66 51 25 :
—————————————————————————————————————-

Midwest Weather Forecast: Mostly dry early this week and chances for big precipitation later in the week. Temperatures should be near to above normal.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
December 42 March 140 March 75 March 29 January 2 January
January 47 March 80 March 36 January
February 46 March 85 March 22 March
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Santos
December
January
February -14 March

DJ ICE Canada Cash Grain Close – Dec 21
WINNIPEG–The following are the closing cash canola prices
from ICE Futures.
Source: ICE Futures
Price Change
CANOLA
*Par Region 464.36 dn 3.14
Basis: Thunder Bay
1 Can 494.70 dn 1.10
2 Can 481.70 dn 1.10
Basis: Vancouver
1 Can 506.70 dn 1.10
2 Can 493.70 dn 1.10
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 – Dec 24
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
Jan 507.50 -02.50 Unquoted – –
Feb 530.00 +02.50 Unquoted – –
Mar 537.50 -02.50 Unquoted – –
Apr/May/Jun 552.50 -05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 512.50 -02.50 Unquoted – –
Feb 535.00 +02.50 Unquoted – –
Mar 542.50 -02.50 Unquoted – –
Apr/May/Jun 557.50 -05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 490.00 +05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jan 345.00 00.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 2,070 -30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 193.00 +01.00 Unquoted – –
($1=MYR4.1835)

DJ China Dalian Grain Futures Closing Prices, Volume – Dec 24
Soybean No. 1
Turnover: 205,726 lots, or 6.81 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-19 3,144 3,176 3,141 3,169 3,153 3,159 6 68,782 80,590
Mar-19 3,211 3,218 3,195 3,215 3,207 3,207 0 238 2,320
May-19 3,407 3,418 3,352 3,369 3,417 3,382 -35 132,772 160,188
Jul-19 – – – 3,479 3,479 3,479 0 0 8
Sep-19 3,471 3,481 3,423 3,437 3,479 3,450 -29 3,226 11,248
Nov-19 – – – 3,500 3,529 3,500 -29 0 14
Jan-20 3,521 3,521 3,460 3,475 3,500 3,479 -21 708 1,088
Corn
Turnover: 673,226 lots, or 12.41 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-19 1,853 1,853 1,824 1,827 1,861 1,830 -31 34,070 80,000
Mar-19 1,851 1,852 1,821 1,821 1,853 1,830 -23 3,672 24,364
May-19 1,857 1,859 1,831 1,831 1,864 1,840 -24 556,722 1,200,796
Jul-19 1,883 1,883 1,857 1,857 1,889 1,865 -24 1,402 12,528
Sep-19 1,889 1,890 1,865 1,865 1,896 1,874 -22 76,444 316,350
Nov-19 1,916 1,916 1,892 1,894 1,920 1,899 -21 916 1,300
Soymeal
Turnover: 1,748,820 lots, or 46.60 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-19 2,875 2,884 2,831 2,856 2,897 2,852 -45 133,290 128,466
Mar-19 2,811 2,817 2,757 2,779 2,822 2,794 -28 171,058 156,932
May-19 2,647 2,661 2,604 2,623 2,655 2,628 -27 1,313,078 1,509,792
Jul-19 2,654 2,661 2,612 2,625 2,659 2,634 -25 1,556 8,270
Aug-19 – – – 2,663 2,677 2,663 -14 0 262
Sep-19 2,691 2,701 2,649 2,668 2,699 2,670 -29 127,930 368,084
Nov-19 2,707 2,712 2,665 2,678 2,707 2,685 -22 1,898 1,284
Dec-19 2,763 2,763 2,695 2,695 2,729 2,722 -7 10 18
Palm Oil
Turnover: 415,424 lots, or 18.87 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-19 4,172 4,190 4,128 4,150 4,196 4,158 -38 24,836 60,930
Feb-19 – – – 4,368 4,368 4,368 0 0 30
Mar-19 4,350 4,350 4,350 4,350 4,414 4,350 -64 2 4
Apr-19 – – – 4,484 4,548 4,484 -64 0 18
May-19 4,590 4,606 4,536 4,556 4,602 4,562 -40 371,712 438,092
Jun-19 4,674 4,674 4,648 4,648 4,738 4,652 -86 20 54
Jul-19 4,672 4,672 4,660 4,660 4,668 4,664 -4 18 34
Aug-19 – – – 4,662 4,664 4,662 -2 0 2
Sep-19 4,646 4,656 4,604 4,622 4,666 4,624 -42 18,818 45,570
Oct-19 4,674 4,674 4,670 4,670 4,744 4,670 -74 10 26
Nov-19 4,690 4,690 4,690 4,690 4,784 4,690 -94 8 12
Dec-19 – – – 4,636 4,636 4,636 0 0 0
Soybean Oil
Turnover: 423,322 lots, or 22.89 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-19 5,038 5,052 5,008 5,024 5,070 5,024 -46 39,612 87,920
Mar-19 – – – 5,184 5,184 5,184 0 0 150
May-19 5,436 5,468 5,406 5,462 5,440 5,436 -4 346,500 648,810
Jul-19 – – – 5,476 5,480 5,476 -4 0 18
Aug-19 – – – 5,496 5,500 5,496 -4 0 2
Sep-19 5,510 5,556 5,490 5,550 5,518 5,520 2 37,208 90,000
Nov-19 – – – 5,538 5,536 5,538 2 0 4
Dec-19 5,584 5,584 5,584 5,584 5,600 5,584 -16 2 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