About The Author

Jack Scoville

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

DJ CBOT Delivery Intentions: Totals – Mar 11
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL March Mar. 12, 2019 181 Mar 08, 2019
SOYBEAN OIL March Mar. 12, 2019 91 Mar 08, 2019
ROUGH RICE March Mar. 12, 2019 4 Mar 07, 2019
CORN March Mar. 12, 2019 937 Mar 08, 2019
KC HRW WHEAT March Mar. 12, 2019 8 Mar 04, 2019
OATS March Mar. 12, 2019 1 Mar 08, 2019
SOYBEAN March Mar. 12, 2019 578 Mar 08, 2019
WHEAT March Mar. 12, 2019 22 Mar 06, 2019

DJ USDA Report: Summary for U.S. Agriculture Supply, Demand
Following are key numbers from the USDA’s crop report Friday and
how the government’s estimates compared to analysts’ forecasts in a
Wall Street Journal survey.
U.S. Stockpiles (million bushels)
Friday’s
2018-19 Estimate Average Range USDA February
Corn 1,835.0 1,755 1,685-1,835 1,735
Soybeans 900.0 898 852-940 910
Wheat 1,055.0 1,024 1,010-1,050 1,010
***
World Stockpiles (million metric tons)
2018-19
Friday’s
Estimate Average Range USDA February
Corn 308.5 309.1 306.3-312.0 309.8
Soybeans 107.2 106.3 104.4-113.6 106.7
Wheat 270.5 267.8 266.0-269.0 267.5
***
Brazil Production (million metric tons)
Friday’s
Estimate Average Range USDA February
Corn 94.5 94.6 93.0-96.0 94.5
Soybeans 116.5 115.4 113.0-117.0 117.0
Argentina Production (million metric tons)
Friday’s
Estimate Average Range USDA February
Corn 46.0 46.0 44.0-47.0 46.0
Soybeans 55.0 55.2 53.0-56.7 55.0

DJ USDA Supply/Demand: Crop Summary – Mar 8
U.S. ending stocks in million bushels, except soy oil in million pounds,
cotton in million (480 pound) bales and rice in million cwt. Exports and
Production in million metric tons except cotton in million (480 pound)
bales.
Projections based on trends and analysts’ judgments, not survey
date. Source: USDA’s World Agricultural Outlook Board.
======U.S.====== ================WORLD===================
Ending Stocks Exports Production
18/19 17/18 16/17 : 18/19 17/18 16/17 : 18/19 17/18 16/17
Soybeans 900.0 438.0 302.0 :154.20 152.96 147.50 : 360.08 340.47 349.31
Brazil na na : 79.50 76.18 63.14 : 116.50 120.80 114.60
Argentina na na : 6.30 2.11 7.03 : 55.00 37.80 55.00
China na na : 0.10 0.13 0.11 : 15.90 15.20 13.64
Soyoil 2,010 1,990 1,711 : 11.33 10.49 11.24 : 56.97 55.17 53.72
Corn 1,835 2,140 2,293 :166.96 146.59 160.05 :1101.16 1076.231,123.30
China na na : 0.05 0.02 0.08 : 257.33 259.07 263.61
Argentina na na : 30.00 20.30 25.99 : 46.00 32.00 41.00
S.Africa na na : 1.60 2.10 2.29 : 11.00 13.10 17.55
Cotton 4.30 4.30 2.75 : 42.18 40.92 37.91 : 118.89 123.78 106.66
All Wheat 1,055 1,099 1,181 :178.91 181.23 183.35 : 733.00 763.07 756.41
China na na : 1.20 1.00 0.75 : 131.43 134.33 133.27
EU 27 na na : 23.00 23.29 27.43 : 137.60 151.26 145.37
Canada na na : 24.00 21.95 20.16 : 31.80 29.98 32.14
Argentina na na : 14.20 12.16 13.83 : 19.50 18.50 18.40
Australia na na : 10.00 13.85 22.64 : 17.30 21.30 31.82
Russia na na : 37.00 41.42 27.81 : 71.69 84.99 72.53
Ukraine na na : 16.50 17.78 18.11 : 25.00 26.98 26.79
Sorghum 65.0 35.0 33.0 : na na na
Barley 91.0 94.0 106.0 : na na na
Oats 36.0 41.0 50.0 : na na na : na na na
Rice 49.6 29.4 46.0 : 47.37 47.13 47.19 : 501.57 495.37 490.94

DJ Summary for February USDA Monthly Cattle on Feed Data-Mar 8
Data from the U.S. Department of Agriculture’s monthly cattle-on-feed report, released at 3:00 p.m. ET Friday, and analysts’ estimates as compiled by the Wall Street Journal. In million head.
[December preceding year]
Numbers USDA’s Average Range
2019 2018 estimated of analysts’ of analysts’
% of prev yr estimates
On-feed Feb 1 11.678M 11.630M 100 100.2 99.1- 100.6
Placed in Jan 1.959M 2.068M 95 92.6 87.0- 95.9
Marketed in Jan 1.910M 1.858M 103 102.3 96.9- 102.9
Note: USDA rounds its estimates to the nearest whole number.

WHEAT
General Comments Winter Wheat markets were sharply lower again last week. Demand worries and ideas of big supplies in the US even with a reduced crop supported the selling. USDA supported those ideas on Friday by showing increased ending stocks estimates on reduced export demand. Export demand for US Wheat has improved recently as Russian prices have stayed above those in the US, but the stronger US Dollar Index has helped to keep Wheat prices on the defensive as the stronger Dollar promotes higher US prices in local currencies. Word of cheaper offers from Europe and Russia put US Wheat values down. The temperatures in the US remain cold, and Winter Wheat is still dormant. Long range forecasts suggest that the US Great Plains and Canadian Prairies will suffer through below normal temperatures at least through the end of the month. The Fall season in both Winter Wheat regions featured a lot of rain that hurt harvest and planting, and it is likely that not all intended acreage got planted to Wheat. Wet weather has continued for much of the Winter, and it is likely that the crop will have good soil moisture to work with as it comes out of dormancy in the next month. The state departments of agriculture released their monthly crop condition updates a week ago, and the Winter Wheat crop condition is not good and significantly worse than previous reports due to the Fall planting problems and the extreme weather seen in Winter Wheat growing areas over the Winter. Weekly chart trends are down for SRW with a target near 420. Weekly trends for HRW are down and also target about 420. Minneapolis remains the stronger market and has not completely turned trends down. It could move to about 525 if it does go lower, and possibly 485 over time.
Overnight News: The southern Great Plains should get some snow or rain by the middle of next week. Temperatures should be near to below normal. Northern areas should see occasional light precipitation by the middle of this week. Temperatures should be near to below normal. The Canadian Prairies should see precipitation in the south. Temperatures should be near to below normal.
Chart Analysis: Trends in Chicago are down with objectives of 432 and 415 May. Support is at 434, 431, and 428 May, with resistance at 447, 454, and 464 May. Trends in Kansas City are down with objectives of 417 and 397 May. Support is at 424, 421, and 418 May, with resistance at 442, 448, and 453 May. Trends in Minneapolis are mixed to down with objectives of 541 May. Support is at 548, 545, and 542 May, and resistance is at 557, 566, and 573 May.

COT — Supplemental Report – Option and Futures Combined Positions as of March 05, 2019
: 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 602,962
: Positions :
: 63,510 172,117 201,449 117,661 121,777 168,874 56,963 551,495 552,306: 51,467 50,656
: Changes from: February 26, 2019 (Change in open interest: 35,184) :
: 1,909 15,157 28,743 5,715 -9,573 -3,284 4,407 33,084 38,734: 2,100 -3,550
: Percent of Open Interest Represented by Each Category of Trader :
: 10.5 28.5 33.4 19.5 20.2 28.0 9.4 91.5 91.6: 8.5 8.4
: Total Traders: 439 Number of Traders in Each Category :
: 124 140 159 99 94 46 25 350 345:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of March 05, 2019
: 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 320,860
: Positions :
: 66,584 108,390 68,323 92,470 103,760 57,867 19,890 285,244 300,363: 35,616 20,497
: Changes from: February 26, 2019 (Change in open interest: 12,483) :
: 4,918 5,498 7,587 5,077 810 -5,046 -482 12,535 13,413: -52 -930
: Percent of Open Interest Represented by Each Category of Trader :
: 20.8 33.8 21.3 28.8 32.3 18.0 6.2 88.9 93.6: 11.1 6.4
: Total Traders: 279 Number of Traders in Each Category :
: 71 60 70 85 79 31 13 218 196:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 5, 2019
: 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 61,483 :
: Positions :
: 34,338 30,669 2,362 0 12 6,115 14,444 1,174 4,965 3,150 2,211 :
: Changes from: February 26, 2019 :
: 861 1,479 108 -250 0 624 755 179 184 212 741 :
: Percent of Open Interest Represented by Each Category of Trader :
: 55.8 49.9 3.8 0.0 0.0 9.9 23.5 1.9 8.1 5.1 3.6 :
: Number of Traders in Each Category Total Traders: 88 :
: 49 32 4 0 . 10 6 . 6 7 7 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 5, 2019
: 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 13,340 :
: Positions :
: 4,884 11,394 2,313 0 208 3,877 250 821 700 300 267 :
: :
: Changes from: February 26, 2019 :
: -1,986 -1,317 -163 0 -4 875 -121 171 -24 0 67 :
: :
: Percent of Open Interest Represented by Each Category of Trader :
: 36.6 85.4 17.3 0.0 1.6 29.1 1.9 6.2 5.2 2.2 2.0 :
: :
: Number of Traders in Each Category Total Traders: 27 :
: 12 9 4 0 . 4 . . . . . :
—————————————————————————————————————-

RICE
General Comments: Rice was higher for the week and made new highs for the move. Rice is now a weather market as planting conditions remain very difficult in much of Texas and areas near the Gulf coast. It is still raining in most Rice production areas, and initial fieldwork is not really getting done. Planted area estimated by USDA might go lower yet unless the weather gets better or the prices show significant improvement. USDA made no real changes in its monthly supply and demand estimates. Demand is holding strong as seen in the weekly export sales reports. Cash prices paid to farmers have been mostly stable on moderate mill demand. Cash prices for new crop Rice are below those for the current crop due to ideas on unchanged planted area and better yield potential. All that could change if the weather remains as it is for another few weeks. There has been some Rice planted near Houston now, but most areas are still quiet and farmers are waiting for drier weather. The planting season is off to a tough start.
Overnight News: The Delta should get showers by the middle of this week. Temperatures should be near to above normal, and much above normal on Thursday.
Chart Analysis: Trends are mixed to up with objectives of 1150 May. Support is at 1072, 1067, and 1059 May, with resistance at 1097, 1100, and 1108 May.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 5, 2019
: 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 9,021 :
: Positions :
: 5,963 2,379 148 0 0 73 4,688 14 689 211 509 :
: Changes from: February 26, 2019 :
: -151 -234 2 0 0 -17 0 0 -55 -3 53 :
: Percent of Open Interest Represented by Each Category of Trader :
: 66.1 26.4 1.6 0.0 0.0 0.8 52.0 0.2 7.6 2.3 5.6 :
: Number of Traders in Each Category Total Traders: 53 :
: 16 10 . 0 0 . 13 . 14 4 10 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn closed lower last week on demand concerns. Oats closed slightly higher. USDA confirmed some of those concerns on Friday by dropping food and ethanol demand in its monthly supply and demand updates. It also dropped export demand, and this was a little of a surprise for the market. Traders have been worried about demand even though the weekly export sales reports have been strong. Ethanol demand has been dropping with weaker petroleum prices and demand for animal feed has been weak for a year and remains weak. There are problems with the new trade agreement with China. Negotiations are continuing, but there have been problems with some of the provisions wanted by the US and resisted by China. The US government says it still expects to have an agreement, but a signing ceremony by the end of the month looks doubtful at this time. South American weather is generally good as more showers are reported in central and northern Brazil. The Winter Corn crop is being planted as Soybeans get harvested, so the rains are very beneficial after an extended dry season. US farmers are still trying to decide on their planting mix this year. Corn planting should be starting in areas near the Gulf Coast, but fieldwork in many cases has been delayed by excessive rains in the past few weeks. The pattern of big rains every few days does not seem to be changing for this week. Weekly chart trends in Corn are down with targets of 353 and 338 on the nearest futures contract. Weekly chart trends in Oats are down with objectives of 322 and 282 bases the nearest futures contract.
Overnight News:
Chart Analysis: Trends in Corn are down with no objectives. Support is at 363, 360, and 357 May, and resistance is at 370, 374, and 376 May. Trends in Oats are mixed. Support is at 262, 260, and 258 May, and resistance is at 268, 270, and 274 May.

COT — Supplemental Report – Option and Futures Combined Positions as of March 05, 2019
: 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 2,011,395
: Positions :
: 227,970 415,251 535,561 606,827 693,030 384,133 150,826 1,754,492 1,794,667: 256,904 216,728
: Changes from: February 26, 2019 (Change in open interest: 38,054) :
: -1,253 65,065 26,711 13,299 -66,753 -6,403 21,820 32,354 46,843: 5,700 -8,789
: Percent of Open Interest Represented by Each Category of Trader :
: 11.3 20.6 26.6 30.2 34.5 19.1 7.5 87.2 89.2: 12.8 10.8
: Total Traders: 842 Number of Traders in Each Category :
: 188 162 222 355 351 49 28 691 676:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 5, 2019
: 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 4,506 :
: Positions :
: 963 2,540 156 0 0 289 414 2 1,341 192 261 :
: Changes from: February 26, 2019 :
: 24 -468 6 0 0 -265 116 -3 23 -24 7 :
: Percent of Open Interest Represented by Each Category of Trader :
: 21.4 56.4 3.5 0.0 0.0 6.4 9.2 0.0 29.8 4.3 5.8 :
: Number of Traders in Each Category Total Traders: 23 :
: 8 8 . 0 0 . . . 5 . . :
—————————————————————————————————————-

SOYBEANS AND PRODUCTS
General Comments: Soybeans and products were lower last week. USDA released its monthly supply and demand estimates on Friday and showed a slight increase in crush demand and unchanged exports. Ending stocks estimates were in line with trade expectations. Production estimated were slightly lower in Brazil due to the earlier extreme weather and unchanged in Argentina. Demand for US Soybeans was strong in the world export markets again last week. The US sold more than 1.0 million tons to various buyers including China. China was also reported to have bought a significant quantity, perhaps another 2.0 million tons of US Soybeans, again late last week. Brazil is over half done with its harvest now and should start to show increased offers and very competitive prices soon. Argentina also looks to export this year as crops there are much better. Ideas are that the US export sales pace will fall seasonally in the near term. Everyone is waiting for the resolution of the US-China trade dispute. Negotiations are continuing, but there have been problems with some of the provisions wanted by the US and resisted by China. The US government says it still expects to have an agreement, but a signing ceremony by the end of the month looks doubtful at this time. The weather in the US is very cold in the north and very wet in the south. Very little fieldwork is getting done, and planting delays are possible for Corn and Rice. This could force more acres to Soybeans unless the weather changes in the next month. Weekly chart trends are mostly sideways in Soybeans and Soybean Meal, with Soybean Meal still holding at important support areas near 300.00 basis the nearest month.
Overnight News:
Chart Analysis: Trends in Soybeans are down with objectives of 889 May. Support is at 891, 885, and 882 May, and resistance is at 905, 907, and 909 May. Trends in Soybean Meal are mixed to down with objectives of 299.00 May. Support is at 303.00, 301.00, and 298.00 May, and resistance is at 308.00, 311.00, and 313.00 May. Trends in Soybean Oil are down with objectives of 2870 and 2740 May. Support is at 2930, 2890, and 2870 May, with resistance at 2990, 3010, and 3030 May.

DJ USDA Confirms Sizable Sale of Soybeans to China — Market Talk
09:40 ET – The USDA confirmed this morning that 926,000 metric tons of US soybeans have been sold to China for delivery in the 2018/19 marketing year. This confirmation comes after China said that it would purchase 10M metric tons of soybeans from the US. The purchase does not cover the Chinese expectations, and traders are becoming weary of not knowing anything concrete about the amount in any trade deal. “The soybean market needs new positive news,” says Tomm Pfitzenmaier of Summit Commodity Brokerage. The market didn’t get a needed shot of positivity last week, with soybean futures on the CBOT down below $9.00 per bushel to finish trading after the WASDE ending supply grew and demand dipped.

COT — Supplemental Report – Option and Futures Combined Positions as of March 05, 2019
: 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 763,800
: Positions :
: 64,050 146,542 200,268 278,686 281,956 166,496 39,073 709,499 667,839: 54,301 95,961
: Changes from: February 26, 2019 (Change in open interest: 14,717) :
: 1,206 9,210 19,162 -3,687 -18,121 -1,741 8,558 14,940 18,809: -223 -4,092
: Percent of Open Interest Represented by Each Category of Trader :
: 8.4 19.2 26.2 36.5 36.9 21.8 5.1 92.9 87.4: 7.1 12.6
: Total Traders: 629 Number of Traders in Each Category :
: 112 175 203 185 235 46 26 476 530:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of March 05, 2019
: 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 515,328
: Positions :
: 77,755 70,785 148,441 117,433 251,022 137,299 17,121 480,928 487,368: 34,400 27,959
: Changes from: February 26, 2019 (Change in open interest: 3,409) :
: 1,239 2,227 5,315 2,936 -3,028 -1,611 1,012 7,879 5,526: -4,470 -2,117
: Percent of Open Interest Represented by Each Category of Trader :
: 15.1 13.7 28.8 22.8 48.7 26.6 3.3 93.3 94.6: 6.7 5.4
: Total Traders: 345 Number of Traders in Each Category :
: 88 85 127 72 77 37 21 281 261:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of March 05, 2019
: 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 472,620
: Positions :
: 53,916 97,957 92,917 174,097 203,409 104,541 42,484 425,472 436,767: 47,148 35,853
: Changes from: February 26, 2019 (Change in open interest: -2,756) :
: 7,215 -149 -3,593 -3,758 788 933 4,349 797 1,394: -3,553 -4,150
: Percent of Open Interest Represented by Each Category of Trader :
: 11.4 20.7 19.7 36.8 43.0 22.1 9.0 90.0 92.4: 10.0 7.6
: Total Traders: 305 Number of Traders in Each Category :
: 52 89 84 100 86 34 17 247 226:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Canola was a little higher on speculative short covering. China has cancelled one shipment of Canola continued to hurt demand ideas. Prices recovered to close with small gains on ideas that the market had become very oversold. The two countries are having a war of words over a jailed Huawei executive, the financial officer charged with industrial espionage. Ideas of big supplies are hurting nearby prices, and the government has recently increased ending stocks estimates for the current crop. Ending stocks are now estimated at 2.5 million tons. There is talk of improved export demand, but most of the demand talk is negative right now. Palm Oil was slightly lower to start the week on ideas that the monthly MPOB data will be bearish. Weaker outside markets were negative, too. There is talk that February production will be stronger than expected. Short term trends remain down in this market.
Overnight News: SGS said that Malaysian Palm Oil exports are now 412,253 tons, from 392,484 tons last month.
Chart Analysis: Trends in Canola are mixed to down with no objectives. Support is at 452.00, 449.00, and 446.00 March, with resistance at 464.00, 470.00, and 474.00 May. Trends in Palm Oil are mixed to down with no objectives. Support is at 2120, 2090, and 2060 May, with resistance at 2180, 2210, and 2230 May.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 5, 2019
: 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 188,787 :
: Positions :
: 116,571 72,065 7,081 1,281 165 26,141 72,489 13,780 11,612 15,180 12,391 :
: Changes from: February 26, 2019 :
: 9,344 2,585 1,895 -334 -68 -1,059 5,341 1,781 34 2,373 2,546 :
: Percent of Open Interest Represented by Each Category of Trader :
: 61.7 38.2 3.8 0.7 0.1 13.8 38.4 7.3 6.2 8.0 6.6 :
: Number of Traders in Each Category Total Traders: 228 :
: 22 32 . . . 4 56 13 46 66 31 :
—————————————————————————————————————-

DJ Canadian Grain Handling Summary – Mar 7
WINNIPEG–The following are Canadian grain handling summary statistics
for the week ended March 3, 2019. Figures in thousands of metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This week 2907.6 936.5 227.1 428.2 52.2 1172.9 356.7 424.9 7301.9
Week ago 2831.6 950.1 208.8 440.3 49.6 1214.4 336.5 441.6 7241.5
Year ago 3048.2 616.1 215.5 454.1 68.5 1462.5 239.9 172.6 6900.8
PRODUCER DELIVERIES
This Week 380.0 131.1 40.7 77.0 8.5 323.1 61.0 12.5 1087.7
Week Ago 370.8 131.9 24.6 89.3 10.2 331.5 37.4 9.2 1051.6
To Date 13082.6 2471.4 1391.8 2378.7 219.4 11276.2 2141.9 340.3 36004.6
Year Ago 10872.1 2410.0 1399.0 2016.4 264.2 11769.5 1659.5 301.0 33532.9
TERMINAL RECEIPTS
This Week 247.9 71.5 1.7 40.7 0.0 98.3 31.2 22.2 549.0
Week Ago 273.1 60.4 11.0 60.9 0.0 103.0 49.4 26.4 598.0
To Date 12338.7 2243.4 281.3 1421.4 70.7 6146.5 1185.8 801.6 29755.4
Year Ago 10103.5 2679.5 122.8 1092.2 144.6 6602.0 1100.0 556.6 27081.5
EXPORTS
This Week 285.2 76.8 13.6 97.8 1.6 168.7 44.5 32.6 726.7
Week Ago 354.2 0.4 46.8 20.0 4.7 132.7 66.5 0.0 654.4
To Date 10725.8 2017.4 949.0 1524.9 145.9 5801.6 1239.9 905.4 27109.2
Year Ago 9149.2 2411.4 975.5 1132.8 198.0 6178.5 1150.0 419.4 24962.3
DOMESTIC DISAPPEARANCE
This Week 40.6 3.9 5.9 22.8 1.6 152.8 3.9 21.5 274.5
Week Ago 39.2 1.9 4.0 25.7 0.4 142.4 3.3 15.9 262.8
To Date 2417.3 197.3 172.9 665.1 34.1 5485.2 126.0 708.2 11415.3
Year Ago 2739.4 441.3 152.9 711.8 31.9 5289.3 140.0 374.4 11588.7
*Totals include data from other crops not shown including rye, soybeans,
canary seed, mustard seed, beans, lentils and chickpeas.
Source: Commodity News Service Canada (cnscanada@shaw.ca, or 204-414-9084)

Midwest Weather Forecast: Chances for significant precipitation by the middle of this week. Temperatures should be near to above normal and much above normal on Wednesday and Thursday.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
March 52 May 173 May 95 May 41 May Price
April 52 May 95 May 40 May
May 52 May 90 May 40 May
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Santos
March
April 41 May -17 May
May 55 May -17 May

DJ ICE Canada Cash Grain Close – Mar 8
WINNIPEG — The following are the closing
cash canola prices from ICE Futures.
Source: ICE Futures
Price Change
CANOLA
*Par Region 440.76 up 1.40
Basis: Thunder Bay
1 Can 472.30 up 1.10
2 Can 459.30 up 1.10
Basis: Vancouver
1 Can 482.30 up 1.10
2 Can 469.30 up 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 – March 11
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
Mar 522.50 -02.50 Unquoted – –
Apr 530.00 -05.00 Unquoted – –
May/Jun 545.00 -02.50 Unquoted – –
Jul/Aug/Sep 562.50 -02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 527.50 -02.00 Unquoted – –
Apr 535.00 -05.00 Unquoted – –
May/Jun 550.00 -02.50 Unquoted – –
Jul/Aug/Sep 567.50 -02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 517.50 00.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Mar 472.50 +02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Mar 1,970 -10.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Mar 150.00 -03.00 Unquoted – –
($1=MYR4.0885)

DJ China Dalian Grain Futures Closing Prices, Volume – Mar 11
Soybean No. 1
Turnover: 241,720 lots, or 8.16 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-19 – – – 3,277 3,277 3,277 0 0 0
May-19 3,378 3,396 3,342 3,395 3,390 3,369 -21 220,006 154,566
Jul-19 3,454 3,465 3,416 3,465 3,458 3,430 -28 54 144
Sep-19 3,458 3,470 3,430 3,466 3,462 3,451 -11 19,492 35,358
Nov-19 – – – 3,338 3,348 3,338 -10 0 14
Jan-20 3,377 3,385 3,363 3,382 3,379 3,377 -2 2,168 21,368
Corn
Turnover: 663,816 lots, or 12.25 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-19 – – – 1,760 1,760 1,760 0 0 0
May-19 1,826 1,839 1,821 1,835 1,829 1,830 1 384,468 1,023,220
Jul-19 1,849 1,863 1,843 1,862 1,852 1,850 -2 72,344 97,800
Sep-19 1,864 1,879 1,856 1,878 1,861 1,868 7 202,218 633,516
Nov-19 1,886 1,903 1,886 1,903 1,886 1,897 11 102 1,850
Jan-20 1,911 1,930 1,905 1,927 1,908 1,916 8 4,684 49,718
Soymeal
Turnover: 2,036,702 lots, or 51.71 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-19 2,346 2,496 2,346 2,496 2,407 2,421 14 4 0
May-19 2,522 2,541 2,508 2,524 2,521 2,525 4 1,598,650 1,996,190
Jul-19 2,563 2,575 2,547 2,558 2,559 2,563 4 64,960 108,566
Aug-19 2,577 2,597 2,577 2,587 2,599 2,589 -10 32 238
Sep-19 2,586 2,600 2,578 2,587 2,591 2,588 -3 358,276 1,012,772
Nov-19 2,615 2,623 2,607 2,614 2,614 2,614 0 188 3,614
Dec-19 2,660 2,660 2,660 2,660 2,669 2,660 -9 2 242
Jan-20 2,663 2,676 2,657 2,664 2,665 2,666 1 14,590 104,968
Palm Oil
Turnover: 506,452 lots, or 23.47 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-19 – – – 4,714 4,714 4,714 0 0 0
Apr-19 – – – 4,676 4,676 4,676 0 0 20
May-19 4,582 4,632 4,574 4,584 4,596 4,600 4 410,032 530,228
Jun-19 4,782 4,782 4,728 4,728 4,770 4,754 -16 4 52
Jul-19 – – – 4,774 4,774 4,774 0 0 28
Aug-19 – – – 4,732 4,732 4,732 0 0 2
Sep-19 4,760 4,794 4,746 4,748 4,780 4,770 -10 88,642 167,524
Oct-19 – – – 4,784 4,784 4,784 0 0 10
Nov-19 – – – 4,868 4,868 4,868 0 0 16
Dec-19 4,976 4,976 4,976 4,976 4,958 4,976 18 2 88
Jan-20 4,788 4,814 4,778 4,780 4,804 4,798 -6 7,772 39,094
Feb-20 – – – 4,882 4,882 4,882 0 0 0
Soybean Oil
Turnover: 403,058 lots, or 23.21 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-19 – – – 5,266 5,266 5,266 0 0 0
May-19 5,724 5,762 5,708 5,724 5,724 5,730 6 295,380 656,870
Jul-19 – – – 5,764 5,764 5,764 0 0 16
Aug-19 – – – 5,820 5,820 5,820 0 0 2
Sep-19 5,804 5,854 5,800 5,806 5,822 5,820 -2 98,414 317,836
Nov-19 – – – 5,862 5,862 5,862 0 0 2
Dec-19 – – – 5,908 5,908 5,908 0 0 10
Jan-20 5,932 5,950 5,900 5,902 5,932 5,920 -12 9,264 32,794
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