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 – May 9
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL May. 10, 2019 68 May 07, 2019
SOYBEAN OIL May. 10, 2019 222 May 08, 2019
ROUGH RICE May. 10, 2019 23 May 07, 2019
CORN May. 10, 2019 252 May 07, 2019
SOYBEAN May. 10, 2019 733 May 08, 2019
WHEAT May. 10, 2019 1 May 02, 2019

DJ U.S. Export Sales: Weekly Sales Totals – May 9
For the week ended May 2, in thousand metric tons, except cotton in
thousand running bales. Net changes in commitments are gross sales,
less cancellations, buy-backs and other downward adjustments. Total
commitments are total export shipments plus total sales.
The marketing year for wheat and barley began Jun 1, cotton and
and rice Aug 1, corn, soybeans and sorghum Sep 1, and soy meal and
soyoil Oct 1. Source: USDA
wk’s net chg total
in commitments undlvd sales
this yr next yr this yr last yr this yr next yr
wheat 90.6 412.3 25552.2 23538.5 4237.4 2557.5
hrw 34.4 176.0 9289.1 9250.1 1954.3 899.8
srw -1.4 35.5 3381.3 2520.2 651.3 486.8
hrs 29.3 71.4 6981.0 6089.0 836.6 551.1
white 3.9 86.4 5393.8 5274.9 736.0 462.7
durum 24.4 43.0 507.0 404.4 59.1 157.0
corn 287.6 6.9 46344.8 51631.4 10327.8 2249.2
soybeans -149.1 295.6 44988.2 55124.6 12118.4 1115.4
soymeal 150.8 45.7 10327.1 10151.7 2885.3 313.8
soyoil 16.4 0.0 686.1 844.2 172.1 4.2
upland cotton 235.8 56.5 14013.8 16037.5 5155.7 3083.5
pima cotton 2.1 5.7 701.2 588.8 248.8 46.1
sorghum 54.9 0.0 1565.4 5299.9 647.3 0.0
barley 0.0 0.0 61.3 40.0 22.0 31.6
rice 46.5 0.0 2861.2 2606.3 651.7 24.4

DJ Brazil Raises Estimate for 2018-2019 Soybean Crop to 114.3M Tons
By Jeffrey T. Lewis
SAO PAULO–Brazilian crop agency Conab raised its estimates for soybean and corn production for the 2018-2019 growing season after good weather later in recent months boosted productivity in many areas.
Brazilian farmers produced 114.3 million metric tons of soybeans in the 2018-2019 harvest, which is practically finished, Conab said Thursday. In April, the agency estimated a crop of 113.8 million tons, and in the 2017-2018 season Brazil produced 119.3 million tons of soybeans.
The decline from the previous season was due to unusually hot and dry weather in some states, especially Parana and Mato Grosso do Sul, at the start of the growing season, which reduced productivity in areas hit by the bad weather. But farmers who planted later, and who work in areas unaffected by the heat, had higher than normal productivity, according to Flavio Franca Jr., an analyst at Datagro.
“At first things looked bad, then the situation improved and then it got a lot better,” he said. “The soybeans planted in the last third of the season are in very good shape.”
The trade conflict between the U.S., the world’s biggest soybean grower, and China, the world’s biggest consumer, has helped prices for the crop in Brazil. With the recent increase in trade tensions between those two countries, Brazil should benefit, Mr. Franca said.
“Our whole crop will be consumed, either by the Chinese, or here in Brazil,” he said. “We started the year with very low stocks because of all the exports, and our crop is smaller this year, so there won’t be a surplus.”
The good weather toward the end of the season also is favoring corn production, Conab said. Brazilian farmers take advantage of the country’s mild winters to plant two crops per year, often soybeans in the summer then corn in the winter.
Conab raised its forecast for corn production to 95.2 million metric tons from 94 million tons in April. In the 2017-2018 season, Brazil grew 80.7 million tons of corn.

DJ Global Food Prices Hit 10-Month High in April -UN Food Agency
By Joe Wallace
LONDON–Global food prices hit a 10-month high in April, the United Nations’ food agency said Thursday in its monthly report.
The Food and Agriculture Organization’s food-price index rose 1.5% from a month earlier to reach its highest level since June 2018. However, prices remained 2.3% below where they stood in April last year, the FAO said.
Prices for most foodstuffs firmed, except for cereals. The sub-index for dairy posted the largest gain, rising 5.2% in April from March.
“International price quotations for butter, whole milk powder and cheese rose, as global import demand continued to be robust in anticipation of a further tightening in export availabilities from Oceania with dry weather conditions reinforcing the seasonal milk production drop,” the FAO said.
Meat prices also jumped as a result of a surge in demand for imported pork in Asia, where the Chinese pig herd–the largest in the world–has been ravaged by an outbreak of African swine fever. The meat-price index was up 3% compared with March, the FAO said.
Sugar prices rose 0.8% from a month earlier, driven by higher crude oil prices, which encouraged Brazilian producers to process sugar cane into ethanol for local sale.
Meanwhile vegetable-oil prices were up 0.9% compared with March, reflecting rising international demand for palm oil and domestic U.S. demand for soy oil to be used in the bio-fuel and food sectors.
However, cereal prices dropped 2.8% in April from March, the fourth straight month in which they have fallen. The FAO said this reflected booming supplies and weakening trade, in particular for wheat.

DJ Meat Trade to Surge as Virus Devastates Chinese Pig Herd, Says UN Food Agency
By Joe Wallace
The virus ravaging China’s pig herd will lead to a surge in the global meat trade and ripple through commodities such as poultry and whey powder, the UN’s food agency said Thursday in its twice-yearly market outlook.
African swine fever, which has a fatality rate of 100% in pigs and wild boar but is not harmful to humans, has swept through China since authorities confirmed the first outbreak in August last year. More than a million pigs have been culled in an effort to contain the virus, according to China’s Ministry of Agriculture and Rural Affairs, and the disease has spread to countries such as Vietnam and Cambodia.
World meat production will slip this year as a result of the culling, the Food and Agriculture Organization of the UN forecast, while Chinese imports will leap by up to 20%. That will help push global trade in meat and meat products up by 4.8% compared with 2018.
Around half the world’s pig population lives in China, and any shortfall has a magnified impact on pork prices because Chinese demand for the meat tends to hold up when it gets more expensive. The price of lean hogs has spiked more than 45% on the Chicago Mercantile Exchange this year.
Still, the pork shortfall has pushed up Chinese demand for other meats, the FAO said. That’s one reason why it expects global poultry trade to rise 3.7% to 13.8 million tons this year.
“At the end of the day it will affect all protein markets,” said Josef Schmidhuber, deputy director for trade and markets at the FAO. “China is just too big for a dent in its herd not to affect the world market.”
At the same time, the illness will hit Chinese demand of soybean, whey powder and other items used to feed pigs, the FAO forecast.
Prices for other agricultural commodities could also be hurt by a combination of favorable weather and weakening growth in the world economy.
Wheat production is on course to hit a record 767 million tons in the 2019/20 season, the FAO said, up 5% from 2018/19. Cereal production is forecast to rebound 2.7%, reaching a record 2,722 million tons, while strong harvests in Argentina and Brazil are expected to drive output of coarse grains such as corn and barley up 2.4%.
Warm and dry weather could threaten milk production, while sugar production is set to dip but outstrip consumption, and growth in fish demand is on course to slip amid trade tensions, the FAO said.
International food prices hit a 10-month high in April, led by a jump in the cost of dairy and meat produce and partially offset by a fall in serial prices, the FAO said in a separate report Thursday. The agency’s food-price index rose 1.5% from March, reaching its highest level since June 2018, but remained 2.3% lower than April last year.

DJ Fall Armyworm to Impact Chinese Crop Production — Market Talk
0142 GMT – The spread of the Fall Armyworm–a crop-eating pest–in China may result in lower production and crop quality, says the USDA. The disease has no natural predators, and chemicals are needed to control the pest. The agency notes the Armyworm, first detected in January currently impacts about 21 million acres of grain production in a half-dozen provinces. Experts report there is a high probability it will spread across all of China’s grain-production area the next year. (lucy.craymer@wsj.com)

DJ U.S. Wheat Production Estimates — Survey
CHICAGO–The following are analysts’ estimates for 2019-20 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 Friday.
2019-20 WHEAT PRODUCTION
Average Range USDA 2018-19
All Wheat 1,920 1,821-2,044 1,884
Winter Wheat 1,287 1,194-1,400 1,184
Hard Red Winter 779 662-905 662
Soft Red Winter 277 250-302 286
White Winter 236 201-270 236
All Wheat Winter Wheat Hard-Red Soft-Red White
Advanced Market 2,044 1,364 814 280 270
Agrivisor 1,903 1,278 778 275 225
Allendale 1,903 1,299 760 300 238
Citizens LLC 1,950 N/A N/A N/A N/A
DC Analysis 1,934 1,275 760 280 235
Doane 1,850 1,206 N/A N/A N/A
EDF Man 1,930 1,260 775 250 235
Farm Futures 1,928 1,224 767 258 201
INTL FCStone 1,925 1,308 780 302 226
Sid Love Consulting 1,900 N/A N/A N/A N/A
Northstar 1,931 1,400 905 250 245
Price Group 1,925 1,260 737 295 230
Prime-Ag 1,900 N/A N/A N/A N/A
RJ O’Brien 1,958 1,321 841 255 225
RMC 1,894 1,194 662 286 236
Vantage RM 1,821 1,231 696 283 252
Western Milling 1,994 1,397 859 287 249
Zaner Ag Hedge 1,863 1,294 769 283 241

DJ U.S. Corn, Soybean Production Estimates — Survey
CHICAGO–The following are analysts’ estimates for 2019 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 Friday.
U.S. Corn, Soybean Production (million bushels)
Average Range USDA 2018
Corn Production 14,765 14,220-15,010 14,420
Soybean Production 4,187 4,143-4,300 4,544
Corn Soybean
Production
Advanced Market 14,535 4,153
Agrivisor 14,995 4,143
Allendale 14,793 4,154
Citizens LLC 14,400 4,300
DC Analysis 14,755 4,207
Doane 14,840 4,155
EDF Man 14,532 4,208
Farm Futures 15,010 4,146
INTL FCStone 14,760 4,181
Sid Love Consultin 14,619 4,193
Price Group 15,010 4,150
Prime-Ag 14,928 4,185
RMC 14,220 4,240
US Commodities 14,731 4,190
Vantage RM 14,994 4,150
Western Milling 14,986 4,257
Zaner Ag Hedge 14,890 4,175

DJ U.S. May Grain, Soybean Stockpiles Estimates — Survey
CHICAGO–The following are analysts’ estimates in millions of bushels for U.S. ending stockpiles for 2018-19 and 2019-20, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Friday at noon ET.
U.S. 2018-19 Stockpiles (millions)
Average Range USDA April
Corn 2,061 1,935-2,216 2,035
Soybeans 925 880-1,038 895
Wheat 1,100 1,086-1,187 1,087
U.S. 2019-20 Stockpiles (millions)
Average Range USDA April
Corn 2,142 1,694-2,506 N/A
Soybeans 943 786-1,524 N/A
Wheat 1,073 980-1,173 N/A
2018-19 2019-20
Corn Soybeans Wheat Corn Soybeans Wheat
Advanced Market 2,060 925 1,087 2,205 958 1,044
Agrivisor 2,035 910 1,087 2,220 915 1,075
Allendale 2,035 895 1,087 2,174 959 1,097
Citizens LLC 2,050 915 1,100 1,950 950 1,100
DC Analysis 2,085 945 1,187 2,030 835 1,100
Doane 2,085 945 1,100 2,000 850 980
EDF Man 2,135 910 1,087 2,387 890 1,049
Farm Futures 2,069 934 1,086 2,097 970 1,075
INTL FCStone 2,216 1,038 1,103 2,158 1,524 1,106
Sid Love Consulting 1,935 895 1,087 1,694 855 982
Northstar 2,050 915 1,100 2,245 1,013 1,122
Prime-Ag 2,035 895 1,087 2,153 865 1,052
Price Group 2,035 895 1,101 2,245 850 1,058
RJ O’Brien 2,188 962 1,112 2,506 966 1,173
RMC 2,035 920 1,087 1,835 875 1,097
US Commodities 2,055 880 1,095 2,146 826 1,075
Vantage RM 2,011 880 1,087 2,166 786 993
Western Milling 1,985 964 1,118 2,251 1,063 1,146
Zaner Ag Hedge 2,060 945 1,102 2,240 968 1,055

DJ May 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 2018-19, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release its monthly estimates on Friday at noon ET.
2018-19 Brazil Corn, Soybean Production (million metric tons)
Average Range USDA April
Corn 96.6 95.0-98.5 96.0
Soybeans 116.9 116.0-118.0 117.0
Corn Soybeans
Advanced Market 97.0 117.0
Agrivisor 97.0 117.0
Allendale 96.0 116.5
Citizens LLC 97.0 118.0
DC Analysis 96.0 117.0
Doane 96.5 117.0
EDF Man 97.0 116.0
Farm Futures 95.0 117.0
INTL FCStone 96.8 116.5
North Star 98.5 117.8
Price Group 97.0 117.0
Prime Ag 96.0 117.0
RMC 96.0 116.0
US Commodities 95.5 116.5
Western Milling 98.0 116.0
Zaner Ag Hedge 97.0 118.0
2018-19 Argentina Corn, Soybean Production (million metric tons)
Average Range USDA April
Corn 48.2 46.5-50.0 47.0
Soybeans 55.8 55.0-57.0 55.0
Corn Soybeans
Advanced Market 49.0 56.0
Agrivisor 48.0 56.0
Allendale 47.0 55.0
Citizens LLC 48.0 56.5
DC Analysis 49.0 55.0
Doane 48.0 56.0
EDF Man 50.0 56.0
Farm Futures 48.0 56.0
INTL FCStone 47.5 56.0
North Star 49.0 57.0
Price Group 48.0 56.0
Prime Ag 49.0 56.0
RMC 48.0 55.5
US Commodities 46.5 55.5
Western Milling 48.0 56.0
Zaner Ag Hedge 48.0 55.0

DJ May 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 2018-19 and 2019-20, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Friday at noon ET.
World Stockpiles (million metric tons)
2018-19
Average Range USDA April
Corn 315.5 313.4-318.0 314.0
Soybeans 109.0 107.0-115.7 107.4
Wheat 276.1 274.1-277.5 275.6
2019-20
Average Range USDA April
Corn 304.0 271.2-329.0 N/A
Soybeans 113.0 100.0-143.1 N/A
Wheat 272.8 230.0-285.0 N/A
2018-19 2019-20
Corn Soybeans Wheat Corn Soybeans Wheat
Advanced Market 315.0 109.0 277.0 329.0 111.0 275.0
Agrivisor 315.0 108.4 275.6 307.0 105.0 285.0
Allendale 314.0 107.4 275.6 271.2 111.2 276.0
Citizens LLC 316.0 109.4 276.5 318.0 112.0 230.0
Doane 316.0 110.0 277.0 280.0 110.0 285.0
EDF Man 316.0 107.0 276.0 310.0 112.0 259.0
Farm Futures 316.0 110.6 274.1 285.0 100.0 274.5
INTL FCStone 313.4 115.7 274.8 300.4 143.1 272.6
Northstar 318.0 109.0 277.5 295.0 119.0 282.0
US Commodities 315.0 107.0 277.0 316.0 108.0 278.0
Prime-Ag 316.0 108.0 276.0 320.0 110.0 280.0
RMC 314.0 107.4 275.6 315.0 108.0 277.0
Western Milling 315.0 109.0 277.0 N/A N/A N/A
Zaner Ag Hedge 317.0 108.7 275.0 306.0 120.0 272.0

WHEAT
General Comments: Winter Wheat markets were a little lower in consolidation trading. Winter Wheat markets did not do much and appeared to be waiting for some demand news. Demand has not been as strong as expected in export markets this year, and the USDA reports this morning were not expected to change this fact. Minneapolis found some support from ideas of the planting delays that were confirmed in the USDA reports on Monday night. Spring Wheat areas could see more precipitation this week to keep US planting progress slow. The US Spring Wheat planting progress has been very slow as producers wait for the rains to go away and for the ground to dry. It is also cold there and some early planted Wheat could get hurt. There are forecasts for cold weather in Europe as well. Black Sea areas are still a little too dry.
Overnight News: The southern Great Plains should get showers and storms today, then dry conditions or light precipitation. Temperatures should be near to below normal after today. Northern areas should see mostly dry conditions or light precipitation. Temperatures should be near normal. The Canadian Prairies should see light precipitation or dry conditions. Temperatures should be below normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 435, 428, and 426 July, with resistance at 443, 448, and 454 July. Trends in Kansas City are mixed. Support is at 391, 387, and 384 July, with resistance at 409, 415, and 421 July. Trends in Minneapolis are mixed. Support is at 515, 512, and 507 July, and resistance is at 524, 525, and 529 July.

RICE
General Comments: Rice was slightly higher yesterday and held close to the close from Tuesday. It was a low volume session. Ideas of planting delays in Rice and continued good export demand have been reasons to support futures. Planting is still being reported near the Gulf Coast and in Texas, and initial development has been reported to be variable. Good reports are heard near and west of Houston. Reports from southern Louisiana suggest that the crop is not in that good shape. Planting progress has been more sporadic to the north due to cool and wet conditions, but some planting has been done. The domestic market is using price breaks to extend forward coverage as the mills push to own Rice into the next harvest. Prices have been firm in the south due to the export demand and have been steady in the north on the planting delays.
Overnight News: The Delta should get more precipitation all week. Temperatures should near to below normal.
Chart Analysis: Trends are up with objectives of 1124 and 1174 July. Support is at 1082, 1080, and 1066 July, with resistance at 1105, 1109, and 1117 July.

CORN AND OATS
General Comments: Corn was slightly lower in consolidation trading. The market was waiting for the export sales report today and also news from the meetings between China and the US that start today. Trump has threatened to increase tariffs on Chinese goods this Friday if no agreement is reached in negotiations in Washington and China has said it will retaliate. It’s still a weather market now as planting has fallen farther behind the pace of the last five years. More delays were seen last week as a series of storms moved through much of the Midwest. More precipitation, this time mostly rains, are expected for much of the Great Plains and Midwest this week to keep any planting progress slow. Drier weather is forecast for next week, then rains are expected to return. It is more and more likely that the crop overall will be planted late, and this fact increases the likelihood that there could be a little yield loss and that some area could be switched to Soybeans. Brazil Winter Corn appears to be in good condition. Crop estimates are high and have shown a tendency to increase as the crop develops. Most areas have seen enough rain for now. Corn prices are reported to be weakening in South America as the summer production from both Brazil and Argentina is now available.
Overnight News: Ethanol production rose to 1.036 million barrels per day this week, from 1.024 million the previous week and 1.037 million the previous year. Ethanol required the processing of an estimated 105.6 million bushels of corn for the week, from 104.4 million the previous week and 106.7 million the previous year. Estimated corn use to date for ethanol production totals 3.663 billion bushels. Ethanol stocks are now 22.5 million barrels, from 22.7 million the previous week and 22.0 million the previous year. Colombia bought 107,000 tons of US Corn.
Chart Analysis: Trends in Corn are mixed. Support is at 362, 359, and 355 July, and resistance is at 368, 372, and 373 July. Trends in Oats are mixed to down with objectives of 262 July. Support is at 275, 272, and 270 July, and resistance is at 281, 283, and 289 July.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and products were a little lower on forecasts for better planting weather next week and ideas of slow exports for the USDA reports this morning. Soybeans trends are still down. The market is waiting for the trade deal with China, but worried about overall Chinese Soybeans demand due to the Asian Swine Flu that has decimated the hog herd there. The market also expects big competition for export sales from South America now. Export differentials from the US and South America have been under pressure for this reason and also as the South American crop is now available. Prices are a little lower in Brazil than in the US despite a lack of farmer selling in Brazil.
Overnight News: Unknown destinations bought 369,000 tons of US Soybeans.
Chart Analysis: Trends in Soybeans are down with no objectives. Support is at 824, 817, and 812 July, and resistance is at 836, 841, and 851 July. Trends in Soybean Meal are down with objectives of 289.00 July. Support is at 293.00, 291.00, and 288.00 July, and resistance is at 297.00, 302.00, and 304.00 July. Trends in Soybean Oil are down with objectives of 2600 July. Support is at 2660, 2630, and 2600 July, with resistance at 2740, 2750, and 2780 July.

CANOLA AND PALM OIL
General Comments: Canola was a little lower in consolidation trading. This market is waiting for results from Washington along with everyone else. Trends are still down as the market is still pressured by the lack of demand from China. Prices have consolidated the losses in the last few days since the StatsCan stocks reports that were no worse for prices than expected. Demand remains light in the domestic market and the export market as fieldwork and planting are underway. Palm Oil was lower and made new contract lows on the price action in Chicago and in petroleum markets. Short term trends are now down.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 435.00, 430.00, and 427.00 July, with resistance at 445.00, 448.00, and 452.00 July. Trends in Palm Oil are mixed to down with objectives of 1940 July. Support is at 2000, 1990, and 1970 July, with resistance at 2040, 2090, and 2110 July.

Midwest Weather Forecast: More precipitation through this week. Drier this weekend and early next week. Temperatures should be below normal today, but warmer starting tonight.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
May +51 July +147 July +74 July +35 July +1 July
June +41 July +65 July +37 July
July +41 July +65 July +27 July
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Santos
May
June
July

DJ ICE Canada Cash Grain Close – May 8
By MarketsFarm
WINNIPEG, May 8 (MarketsFarm) – The following includes
average grain prices at various areas in Western Canada in
Canadian dollars per metric tonne.
Figures are provided by PDQ, which is owned by the Alberta
Wheat Commission, and provides information services, cash grain
market prices and related statistical data.
Producers are encouraged to check with several grain
companies for the basis levels in their area.
Prices as of Wednesday, May 8, 2019:
1 CWRS 1 CWAD 1 CPSR 1 CDA 2 YELLOW
13.5% 13.0% 11.5% CANOLA PEAS
Peace 239.61 N/A 212.10 409.94 243.96
N Alberta 243.54 N/A 215.82 418.34 251.46
S Alberta 244.65 245.84 215.63 421.13 245.73
NW Sask 237.65 236.75 208.30 414.53 243.27
SW Sask 231.75 237.77 187.54 413.46 239.02
NE Sask 229.22 239.87 202.64 413.15 231.60
SE Sask 228.24 243.33 196.30 411.65 226.40
W Manitoba 228.09 247.64 N/A 414.65 217.85
E Manitoba 233.06 N/A N/A 416.07 213.32

DJ Malaysian PM Cash Market Prices for Palm Oil – May 9
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Thursday applied 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
May 505.00 -05.00 Unquoted – –
Jun 507.50 -05.00 Unquoted – –
July/Aug/Sep 517.50 -05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
May 510.00 -05.00 Unquoted – –
Jun 512.50 -05.00 Unquoted – –
July/Aug/Sep 522.50 -05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
May 470.00 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
May 417.50 -02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 1,960 -20.00 Unuoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 141 -03.00 Unquoted – –
($1=MYR 4.1520)

DJ China Dalian Grain Futures Closing Prices, Volume – May 09
Soybean No. 1
Turnover: 210,478 lots, or 7.26 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-19 3,320 3,355 3,320 3,355 3,312 3,341 29 562 3,642
Jul-19 3,355 3,478 3,355 3,440 3,356 3,398 42 220 322
Sep-19 3,420 3,494 3,417 3,468 3,404 3,448 44 191,654 127,104
Nov-19 3,459 3,482 3,422 3,479 3,409 3,454 45 120 100
Jan-20 3,415 3,475 3,413 3,459 3,402 3,438 36 17,906 36,500
Mar-20 3,448 3,480 3,448 3,480 3,409 3,469 60 16 32
Corn
Turnover: 914,928 lots, or 17.66 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-19 1,870 1,878 1,869 1,869 1,869 1,870 1 10,792 89,058
Jul-19 1,907 1,919 1,907 1,913 1,906 1,913 7 107,686 374,280
Sep-19 1,920 1,937 1,920 1,929 1,920 1,930 10 686,182 1,231,358
Nov-19 1,943 1,949 1,942 1,946 1,938 1,945 7 282 1,190
Jan-20 1,955 1,957 1,947 1,953 1,946 1,953 7 109,174 279,548
Mar-20 1,967 1,967 1,958 1,961 1,957 1,961 4 812 8,408
Soymeal
Turnover: 4,578,408 lots, or 12.17 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-19 2,547 2,626 2,547 2,626 2,537 2,570 33 1,064 2,960
Jul-19 2,571 2,659 2,571 2,648 2,561 2,614 53 106,716 245,802
Aug-19 2,607 2,694 2,603 2,676 2,591 2,623 32 12,650 1,408
Sep-19 2,615 2,706 2,614 2,690 2,605 2,657 52 4,216,534 2,064,166
Nov-19 2,636 2,717 2,636 2,705 2,617 2,670 53 3,676 2,994
Dec-19 2,665 2,737 2,665 2,730 2,665 2,699 34 72 200
Jan-20 2,673 2,741 2,666 2,727 2,664 2,699 35 236,670 215,468
Mar-20 2,678 2,694 2,668 2,678 2,654 2,683 29 1,026 1,432
Palm Oil
Turnover: 398,714 lots, or 17.68 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-19 4,144 4,160 4,144 4,160 4,172 4,154 -18 402 15,936
Jun-19 4,196 4,434 4,196 4,302 4,370 4,308 -62 8 16
Jul-19 – – – 4,352 4,414 4,352 -62 0 32
Aug-19 – – – 4,218 4,278 4,218 -60 0 0
Sep-19 4,422 4,446 4,404 4,432 4,432 4,418 -14 364,750 555,048
Oct-19 – – – 4,510 4,510 4,510 0 0 22
Nov-19 – – – 4,556 4,556 4,556 0 0 20
Dec-19 – – – 4,662 4,676 4,662 -14 0 14
Jan-20 4,600 4,628 4,588 4,620 4,618 4,602 -16 33,554 92,600
Feb-20 – – – 4,544 4,558 4,544 -14 0 4
Mar-20 – – – 4,656 4,656 4,656 0 0 0
Apr-20 – – – 4,636 4,636 4,636 0 0 0
Soybean Oil
Turnover: 481,938 lots, or 26.13 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-19 5,400 5,400 5,242 5,262 5,262 5,310 48 104 14,648
Jul-19 5,438 5,438 5,282 5,282 5,330 5,368 38 8 12
Aug-19 5,350 5,356 5,350 5,356 5,376 5,352 -24 4 32
Sep-19 5,392 5,436 5,382 5,424 5,402 5,406 4 437,000 760,880
Nov-19 – – – 5,502 5,502 5,502 0 0 4
Dec-19 – – – 5,730 5,726 5,730 4 0 10
Jan-20 5,538 5,578 5,532 5,568 5,554 5,550 -4 44,772 90,152
Mar-20 5,704 5,704 5,562 5,670 5,652 5,636 -16 50 16
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