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 13
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL May. 14, 2019 4 May 07, 2019
SOYBEAN OIL May. 14, 2019 137 May 10, 2019
CORN May. 14, 2019 114 May 09, 2019
SOYBEAN May. 14, 2019 315 May 10, 2019
WHEAT May. 14, 2019 5 May 07, 2019

DJ USDA Report: Summary for U.S. Agriculture Supply, Demand
WASHINGTON–The following are key numbers from USDA’s crop report Friday
and how the government’s estimates compared to analysts’ forecasts in a
Wall Street Journal survey.
U.S. Corn, Soybean Production (million bushels)
Friday’s
Estimate Average Range
Corn 15,030 14,765 14,220-15,010
Soybean 4,150 4,187 4,143-4,300
***
U.S. Stockpiles (million bushels)
2018-19 Friday’s
Estimate Average Range USDA April
Corn 2,095 2,061 1,935-2,216 2,035
Soybeans 995 925 880-1,038 895
Wheat 1,127 1,100 1,086-1,187 1,087
2019-20 Friday’s
Estimate Average Range USDA April
Corn 2,485 2,142 1,694-2,506 na
Soybeans 970 943 786-1,524 na
Wheat 1,141 1,073 980-1,173 na
***
World Stockpiles (million metric tons)
2018-19 Friday’s
Estimate Average Range USDA April
Corn 325.9 315.5 313.4-318.0 314.0
Soybeans 113.2 109.0 107.0-115.7 107.4
Wheat 275.0 276.1 274.1-277.5 275.6
2019-20 Friday’s
Estimate Average Range USDA April
Corn 314.7 304.0 271.2-329.0 na
Soybeans 113.1 113.0 100.0-143.1 na
Wheat 293.0 272.8 230.0-285.0 na
***
2019-20 Wheat Production (million bushels)
Friday’s Average Range
Estimate
Winter Wheat 1,268 1,287 1,194-1,400
Hard Red Winter 780 779 662-905
Soft Red Winter 265 277 250-302
White Winter 224 236 201-270
***
2018-19 Brazil Production (million metric tons)
Friday’s
Estimate Average Range USDA April
Corn 100.0 96.6 95.0-98.5 96.0
Soybeans 117.0 116.9 116.0-118.0 117.0
2018-19 Argentina Production (million metric tons)
Friday’s
Estimate Average Range USDA April
Corn 49.0 48.2 46.5-50.0 47.0
Soybeans 56.0 55.8 55.0-57.0 55.0

DJ USDA Supply/Demand: Crop Summary – May 10
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
19/20 18/19 17/18: 19/20 18/19 17/18: 19/20 18/19 17/18
Soybeans 970.0 995.0 438.0:151.15 150.30 152.96:355.66 362.08 341.54
Brazil na na: 75.00 78.50 76.18:123.00 117.00 122.00
Argentina na na: 7.00 6.30 2.11: 53.00 56.00 37.80
China na na: 0.13 0.13 0.13: 17.00 15.90 15.20
Soyoil 1,450 1,865 1,995: 11.77 11.21 10.51: 57.69 56.54 55.17
Corn 2,485 2,095 2,140:171.61 170.32 148.70: 1,134 1,119 1,078
China na na: 0.02 0.02 0.02:254.00 257.33 259.07
Argentina na na: 32.50 31.50 22.50: 49.00 49.00 32.00
S.Africa na na: 1.50 1.00 2.10: 14.00 11.00 13.10
Cotton(a) 6.40 4.65 4.30: 45.35 42.03 40.93:125.45 118.43 123.78
All Wheat 1,141 1,127 1,099:184.60 177.91 181.77:777.49 731.55 762.24
China na na: 1.30 1.20 1.00:132.00 131.43 134.33
EU 27 na na: 27.00 24.00 23.29:153.80 137.22 151.14
Canada na na: 24.00 24.00 21.95: 34.50 31.80 29.98
Argentina na na: 14.00 13.70 12.66: 20.00 19.50 18.50
Australia na na: 13.50 10.00 13.85: 22.50 17.30 21.30
Russia na na: 36.00 37.00 41.42: 77.00 71.69 85.17
Ukraine na na: 19.00 16.50 17.78: 29.00 25.06 26.98
Sorghum 45.0 60.0 35.0: na na na
Barley 90.0 89.0 94.0: na na na
Oats 33.0 33.0 41.0: na na: na na na
Rice 58.8 53.6 29.4: 47.60 46.73 47.10:498.42 499.89 495.03

WHEAT
General Comments: Winter Wheat markets were mixed, with Winter Wheat markets a little lower and Minneapolis Spring wheat a little higher. Chicago HRW was the weakest market in response to the Kansas Crop Tour that found chances for very high yields. The Great Plains have seen a lot of rain and snow since last Fall, and crops have had plenty to drink. The rains should help produce great yields for Winter Wheat but also lower protein levels. The rains have helped to support Spring Wheat futures due to some increasing planting delays in the US. Canadian crops have also seen some planting delays due to cold and wet weather. US planting intentions were lower, and there could be further planted area losses this year if the weather does not start to improve soon. Chicago SRW markets were also a little lower, but held the range from the previous week. The SRW crop saw some extreme cold over the Winter and has seen a lot of precipitation so far this Spring. There has been some talk of disease problems for the crop. Demand has been the big problem for any bullish traders for the last year and demand does not seem to be getting any better now. The demand is the past year has been disappointing as weaker prices have not improved sales. World prices have been stronger than those in the US due to less production in major world exporters such as Russia, Europe, and Australia. The outlook is for improved production this year so the chances for the US to sell a lot more Wheat into the world markets are fading. The daily and weekly charts imply that overall price weakness will continue.
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 down with objectives of 406, 384, and 366 July. Support is at 420, 417, and 414 July, with resistance at 435, 439, and 443 July. Trends in Kansas City are down with objectives of 378, 366, and 361 July. Support is at 384, 381, and 378 July, with resistance at 398, 406, and 408 July. Trends in Minneapolis are mixed. Support is at 512, 507, and 505 July, and resistance is at 524, 525, and 529 July.

COT — Supplemental Report – Option and Futures Combined Positions as of May 07, 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 588,174
: Positions :
: 63,393 178,304 192,301 109,977 101,492 177,339 68,450 543,010 540,547: 45,164 47,628
: Changes from: April 30, 2019 (Change in open interest: 8,739) :
: 2,985 63 6,584 -5,237 -2,464 4,662 4,815 8,994 8,997: -255 -258
: Percent of Open Interest Represented by Each Category of Trader :
: 10.8 30.3 32.7 18.7 17.3 30.2 11.6 92.3 91.9: 7.7 8.1
: Total Traders: 414 Number of Traders in Each Category :
: 109 128 142 99 93 44 25 330 323:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of May 07, 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 356,511
: Positions :
: 58,854 111,318 96,548 98,723 92,590 66,706 33,909 320,832 334,364: 35,680 22,147
: Changes from: April 30, 2019 (Change in open interest: 6,295) :
: -1,229 -1,374 5,023 2,744 2,356 -804 1,079 5,734 7,084: 560 -789
: Percent of Open Interest Represented by Each Category of Trader :
: 16.5 31.2 27.1 27.7 26.0 18.7 9.5 90.0 93.8: 10.0 6.2
: Total Traders: 272 Number of Traders in Each Category :
: 68 63 72 82 76 32 17 218 198:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of May 7, 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 63,356 :
: Positions :
: 34,208 28,873 1,895 0 840 4,438 17,021 556 6,320 2,185 2,946 :
: Changes from: April 30, 2019 :
: 168 1,993 28 0 400 226 200 297 225 212 -265 :
: Percent of Open Interest Represented by Each Category of Trader :
: 54.0 45.6 3.0 0.0 1.3 7.0 26.9 0.9 10.0 3.4 4.7 :
: Number of Traders in Each Category Total Traders: 87 :
: 45 37 5 0 . 4 10 . 9 6 10 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of May 7, 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 18,196 :
: Positions :
: 7,666 13,568 1,960 233 438 4,006 300 1,689 634 8 1,362 :
: Changes from: April 30, 2019 :
: 449 -1,335 0 -27 -8 -1,927 0 -60 92 -293 -84 :
: Percent of Open Interest Represented by Each Category of Trader :
: 42.1 74.6 10.8 1.3 2.4 22.0 1.6 9.3 3.5 0.0 7.5 :
: Number of Traders in Each Category Total Traders: 28 :
: 12 13 . . . 4 . . . . . :
—————————————————————————————————————-

RICE
General Comments: Rice was higher for the week and futures are now pushing to trade in the upper half of the trading range on the weekly charts. Ideas of planting delays in Rice and continued good export demand have been reasons to support futures. Growing areas near the Gulf Coast and in Texas are mostly planted now, and initial development has been reported to be uneven. Some areas look very good while others have struggled to get good stands due to excessive rains. Planting progress has been more sporadic to the north due to cool and wet conditions, but some planting has been done. Ideas are that just under half of the total crop has now been planted. The market seems content to trade in a wide trading range for now and this implies that somewhat higher prices are possible over the next couple of weeks. 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 Texas due to good demand for limited supplies. Much of the Rice is moving to Mexico. Prices have been firm in Arkansas due to a lack of producer selling as they wait to get the next crop planted. Current supplies are high and bearish traders point to this fact as reason to keep prices relatively cheap or at least in a trading range. USDA showed big supplies for this year and also for next year and weak prices. However, the crop needs to get planted and to grow before the big supplies for the next production year can be assured. The delayed plantings should continue to support prices.
Overnight News: The Delta should get more precipitation all week. Temperatures should near to below normal.
Chart Analysis: Trends are mixed to up with objectives of 1124 and 1174 July. Support is at 1091, 1082, and 0806 July, with resistance at 1103, 1105, and 1109 July.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of May 7, 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 7,949 :
: Positions :
: 5,282 2,330 151 0 0 137 3,572 0 606 325 208 :
: Changes from: April 30, 2019 :
: 64 180 3 0 0 137 171 0 143 134 45 :
: Percent of Open Interest Represented by Each Category of Trader :
: 66.4 29.3 1.9 0.0 0.0 1.7 44.9 0.0 7.6 4.1 2.6 :
: Number of Traders in Each Category Total Traders: 41 :
: 12 7 . 0 0 . 10 0 8 5 5 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn was lower last week as demand for US Corn has fallen off. The weekly export sales reports have shown less demand over the last couple of weeks, and the market is starting to anticipate increased competition in world markets for sales from South America. The USDA monthly supply and demand reports showed no reason to worry about supplies this year or next year. US and world ending stocks levels were estimated high and above trade expectations. USDA is estimating weaker prices for the coming year and the supply and demand estimates show no reason to doubt this. The market has been finding support from tight supplies and delayed planting progress. Producers have been unable to get much done in most of the Midwest. US weather remains cool and wet for most of the Midwest and further planting delays are expected. Yield potential will stare to drop now. Brazil Winter Corn appears to be in good condition as the crop develops and moves to pollination. 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. Meanwhile, the slow planting pace here and in Canada has supported Oats futures.
Overnight News:
Chart Analysis: Trends in Corn are down with objectives of 341 July. Support is at 348, 345, and 342 July, and resistance is at 355, 359, and 362 July. Trends in Oats are mixed to up with objectives of 302, 303, and 321 July. Support is at 283, 280, and 277 July, and resistance is at 289, 296, and 298 July.

COT — Supplemental Report – Option and Futures Combined Positions as of May 07, 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 2,033,686
: Positions :
: 194,725 495,891 507,425 603,878 622,892 421,565 202,369 1,727,592 1,828,577: 306,094 205,108
: Changes from: April 30, 2019 (Change in open interest: 7,751) :
: -2,651 -18,977 13,120 -18,432 9,050 3,404 4,003 -4,558 7,195: 12,309 556
: Percent of Open Interest Represented by Each Category of Trader :
: 9.6 24.4 25.0 29.7 30.6 20.7 10.0 84.9 89.9: 15.1 10.1
: Total Traders: 866 Number of Traders in Each Category :
: 199 160 224 378 345 50 30 734 667:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of May 7, 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 6,007 :
: Positions :
: 1,012 4,614 142 0 0 1,006 155 0 1,738 111 184 :
: Changes from: April 30, 2019 :
: -106 -38 -6 0 0 107 49 0 -70 35 19 :
: Percent of Open Interest Represented by Each Category of Trader :
: 16.8 76.8 2.4 0.0 0.0 16.7 2.6 0.0 28.9 1.8 3.1 :
: Number of Traders in Each Category Total Traders: 27 :
: 11 . 0 0 6 . 0 4 . . :
—————————————————————————————————————-

SOYBEANS AND PRODUCTS
General Comments: Soybeans and Soybean Meal were lower last week. Soybeans trends are still down as the market has seen some extreme selling and very little buying interest in the last few weeks. The weekly charts for Soybeans show the potential for futures to move to about 770 bases the nearest futures contract. Soybean Meal trends are also 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 government reports that at least 18% of its hog herd has been lost and private estimates show much higher loss potential. It is an indication of the very strong demand potential from China for hogs and pork and products and also an indication that Soybeans and Meal demand could be significantly less in the coming year as China works to eradicate the disease and then repopulate its herds. The Soybeans demand could take several years to recover as it will take time to rebuild the herds. President Trump announced increased tariffs on China last week but the two sides are still talking. China has aid it will retaliate but so far has not announced any new measures of its own. There had been ideas that an agreement could be reached this week when a Chinese delegation comes to Washington, but the US has accused China of trying to renegotiate on already agreed to measures and negotiations will now take longer. 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. USDA released its monthly supply and demand estimates that also included a look at the coming production year. USDA indicates no shortages of Soybeans anywhere, so prices are expected to remain relatively weak as sellers search for new buyers and everyone wonders just how strong the Chinese demand will be in the world market.
Overnight News:
Chart Analysis: Trends in Soybeans are down with no objectives. Support is at 806, 800, and 794 July, and resistance is at 817, 827, and 836 July. Trends in Soybean Meal are down with no objectives. Support is at 285.00, 282.00, and 279.00 July, and resistance is at 293.00, 297.00, and 302.00 July. Trends in Soybean Oil are down with objectives of 2600 July. Support is at 2640, 2630, and 2600 July, with resistance at 2700, 2740, and 2750 July.

COT — Supplemental Report – Option and Futures Combined Positions as of May 07, 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 936,496
: Positions :
: 63,091 231,072 270,441 364,362 278,678 178,842 69,524 876,735 849,714: 59,761 86,782
: Changes from: April 30, 2019 (Change in open interest: 57,154) :
: 3,738 10,266 31,739 13,281 13,573 4,887 4,121 53,644 59,699: 3,510 -2,545
: Percent of Open Interest Represented by Each Category of Trader :
: 6.7 24.7 28.9 38.9 29.8 19.1 7.4 93.6 90.7: 6.4 9.3
: Total Traders: 639 Number of Traders in Each Category :
: 132 186 201 189 213 46 31 493 523:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of May 07, 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 536,990
: Positions :
: 72,498 149,391 128,371 170,099 199,404 130,674 28,153 501,643 505,320: 35,348 31,671
: Changes from: April 30, 2019 (Change in open interest: 27,295) :
: 2,202 12,239 13,300 7,296 781 3,308 1,204 26,105 27,523: 1,190 -228
: Percent of Open Interest Represented by Each Category of Trader :
: 13.5 27.8 23.9 31.7 37.1 24.3 5.2 93.4 94.1: 6.6 5.9
: Total Traders: 355 Number of Traders in Each Category :
: 81 107 117 83 73 37 21 273 272:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of May 07, 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 515,579
: Positions :
: 48,722 91,424 123,754 188,410 221,044 104,507 40,438 465,393 476,660: 50,186 38,919
: Changes from: April 30, 2019 (Change in open interest: 24,036) :
: -4,039 18,409 9,011 17,812 -6,513 -1,049 1,969 21,735 22,877: 2,301 1,159
: Percent of Open Interest Represented by Each Category of Trader :
: 9.5 17.7 24.0 36.5 42.9 20.3 7.8 90.3 92.5: 9.7 7.5
: Total Traders: 309 Number of Traders in Each Category :
: 53 85 87 105 88 35 16 252 229:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Canola was a little lower ion Friday. This market is waiting for results from Washington along with everyone else and was also reacting to the USDA monthly reports. 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 higher after making new contract lows on the price action in Chicago and in petroleum markets. Demand ideas are improving. Short term trends are now down.
Overnight News: SGS said that Malaysian Palm Oil exports are now 559,545 tons, from 525,986 tons last month. AmSpec said exports are now 550,785 tons, from 481,425 tons last month.
Chart Analysis: Trends in Canola are mixed. Support is at 434.00, 430.00, and 427.00 July, with resistance at 441.00, 445.00, and 448.00 July. Trends in Palm Oil are mixed to down with objectives of 1940 July. Support is at 1970, 1950, and 1920 July, with resistance at 2010, 2030, and 2050 July.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of May 7, 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 182,731 :
: Positions :
: 123,174 43,941 2,708 1,466 467 20,513 81,908 11,659 3,782 21,985 19,427 :
: Changes from: April 30, 2019 :
: 8,156 1,533 191 -946 62 -482 3,613 1,086 -2,979 513 126 :
: Percent of Open Interest Represented by Each Category of Trader :
: 67.4 24.0 1.5 0.8 0.3 11.2 44.8 6.4 2.1 12.0 10.6 :
: Number of Traders in Each Category Total Traders: 267 :
: 29 35 . . . 6 57 14 45 96 38 :
—————————————————————————————————————-

Midwest Weather Forecast: More precipitation through early this week. Drier the rest of the 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 +154 July +80 July +35 July +1 July
June +41 July +64 July +30 July
July +41 July +64 July +30 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 10
By MarketsFarm
WINNIPEG, May 10 (MarketsFarm) – The following are the
closing cash canola prices from ICE Futures.
Source: ICE Futures
Price Change
CANOLA
*Par Region 426.70 dn 0.80
Track Thunder Bay 440.80 up 0.90
Track Vancouver 455.80 up 0.90
All prices in Canadian dollars per metric ton.

DJ Malaysian PM Cash Market Prices for Palm Oil – May 13
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Monday 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 500.00 -02.50 Unquoted – –
Jun 500.00 -05.00 Unquoted – –
July/Aug/Sep 510.00 -05.00 Unquoted – –
Oct/Nov/Dec 530.00 -02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
May 505.00 -02.50 Unquoted – –
Jun 505.00 -05.00 Unquoted – –
July/Aug/Sep 515.00 -05.00 Unquoted – –
Oct/Nov/Dec 535.00 -02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
May 467.50 00.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
May 415.00 00.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 1,950 00.00 Unuoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 141 +01 Unquoted – –
($1=MYR 4.1648)

DJ China Dalian Grain Futures Closing Prices, Volume – May 13
Soybean No. 1
Turnover: 116,360 lots, or 4.03 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-19 – – – 3,391 3,391 3,391 0 0 554
Jul-19 3,443 3,443 3,381 3,396 3,415 3,404 -11 44 312
Sep-19 3,456 3,484 3,450 3,459 3,454 3,463 9 104,358 119,474
Nov-19 3,466 3,472 3,450 3,450 3,467 3,460 -7 22 100
Jan-20 3,466 3,474 3,437 3,445 3,448 3,453 5 11,924 39,078
Mar-20 3,466 3,476 3,460 3,466 3,451 3,467 16 12 32
Corn
Turnover: 1,013,280 lots, or 19.66 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-19 1,870 1,885 1,870 1,880 1,870 1,875 5 14,944 66,020
Jul-19 1,912 1,929 1,911 1,929 1,912 1,921 9 73,066 372,878
Sep-19 1,927 1,950 1,925 1,949 1,925 1,939 14 787,494 1,204,352
Nov-19 1,944 1,965 1,944 1,965 1,941 1,952 11 382 1,070
Jan-20 1,953 1,976 1,949 1,975 1,949 1,965 16 136,606 313,498
Mar-20 1,961 1,984 1,960 1,984 1,957 1,973 16 788 8,772
Soymeal
Turnover: 2,861,402 lots, or 76.21 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-19 2,616 2,616 2,609 2,609 2,601 2,614 13 402 1,872
Jul-19 2,638 2,650 2,614 2,627 2,637 2,627 -10 65,104 240,584
Aug-19 2,654 2,669 2,642 2,667 2,666 2,652 -14 2,936 1,656
Sep-19 2,660 2,686 2,647 2,659 2,670 2,662 -8 2,618,516 2,164,314
Nov-19 2,683 2,700 2,660 2,678 2,680 2,679 -1 460 2,902
Dec-19 2,693 2,709 2,681 2,682 2,708 2,692 -16 76 180
Jan-20 2,703 2,715 2,675 2,687 2,708 2,693 -15 173,198 241,482
Mar-20 2,656 2,664 2,630 2,636 2,666 2,645 -21 710 2,520
Palm Oil
Turnover: 396,444 lots, or 17.47 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-19 4,206 4,206 4,092 4,092 4,134 4,096 -38 230 15,874
Jun-19 4,344 4,344 4,344 4,344 4,288 4,344 56 2 14
Jul-19 – – – 4,400 4,400 4,400 0 0 32
Aug-19 – – – 4,252 4,198 4,252 54 0 0
Sep-19 4,400 4,418 4,372 4,382 4,414 4,394 -20 371,318 564,750
Oct-19 4,420 4,526 4,420 4,478 4,510 4,474 -36 6 22
Nov-19 – – – 4,520 4,556 4,520 -36 0 20
Dec-19 – – – 4,662 4,662 4,662 0 0 14
Jan-20 4,590 4,600 4,560 4,568 4,598 4,578 -20 24,884 96,168
Feb-20 4,640 4,640 4,640 4,640 4,542 4,640 98 2 6
Mar-20 4,654 4,654 4,654 4,654 4,674 4,654 -20 2 8
Apr-20 – – – 4,636 4,636 4,636 0 0 0
Soybean Oil
Turnover: 340,836 lots, or 18.39 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-19 – – – 5,250 5,250 5,250 0 0 7,492
Jul-19 – – – 5,308 5,308 5,308 0 0 12
Aug-19 5,360 5,360 5,352 5,352 5,352 5,356 4 4 32
Sep-19 5,378 5,404 5,362 5,380 5,388 5,382 -6 314,398 775,474
Nov-19 – – – 5,496 5,502 5,496 -6 0 4
Dec-19 – – – 5,712 5,712 5,712 0 0 10
Jan-20 5,530 5,552 5,514 5,530 5,536 5,534 -2 26,434 99,276
Mar-20 – – – 5,636 5,636 5,636 0 0 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        
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