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

WHEAT
General Comments: Wheat markets were lower as weather here in the US and around the world got better. The weather is drier for harvesting in the southern Great Plains and the harvest is fully underway. High yields are being reported for the HRW crop and this is as it should be as the region saw a lot of rain during the growing season. It is finally turning drier in the Midwest so the Winter Wheat harvest should get underway soon. Yields might not be so impressive in this area due to the extreme weather seen over the Winter that probably caused Winterkill. In addition, there are ideas that the SRW crop will show disease due to all of the rain until now. Protein levels for both HRW and SRW crops should be lower than normal due to the rains. Meanwhile, rains have improved in the northern Great Plains and into Canada and growing conditions for the Spring Wheat crops are improving. Additional rains were forecast for Canada over the weekend, and beneficial rains were reported. Conditions are also reported to be improving in Spring Wheat areas in Russia as temperatures are expected to moderate and some showers are expected. It is still hot and dry near the Black Sea so crops in these areas of Russia and Ukraine are being hurt. It is harvest time for Winter crops in these areas as well. Conditions are reported to be generally good in Europe. USDA released its monthly supply and demand updates early last week and showed the potential for more feed demand in the US. This comes as a result of the problems getting the US Corn crop planted that will keep Corn prices relatively elevated and the expected abundance of low protein Wheat in the Great Plains that will be very good for feed but not so good for milling.
Overnight News: The southern Great Plains should get mostly dry conditions. Temperatures should be below normal. Northern areas should see light to moderate precipitation off and on all week. Temperatures should be near to below normal. The Canadian Prairies should see scattered showers late this week. Temperatures should be near to below normal.
Chart Analysis: Trends in Chicago are mixed to up with objectives of 555, 557, and 564 July. Support is at 514, 513, and 508 July, with resistance at 529, 538, and 544 July. Trends in Kansas City are mixed. Support is at 450, 445, and 444 July, with resistance at 465, 474, and 481 July. Trends in Minneapolis are down with objectives of 533 and 510 July. Support is at 532, 528, and 524 July, and resistance is at 543, 546, and 553 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 18, 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 606,510
: Positions :
: 65,805 90,666 231,362 87,700 170,031 184,567 67,260 569,434 559,320: 37,076 47,190
: Changes from: June 11, 2019 (Change in open interest: 18,861) :
: 6,430 -12,763 16,367 -9,282 15,586 5,303 854 18,818 20,043: 43 -1,183
: Percent of Open Interest Represented by Each Category of Trader :
: 10.8 14.9 38.1 14.5 28.0 30.4 11.1 93.9 92.2: 6.1 7.8
: Total Traders: 399 Number of Traders in Each Category :
: 89 120 141 90 114 44 23 309 330:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 18, 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 315,157
: Positions :
: 46,870 68,831 92,545 85,062 107,187 61,884 22,867 286,361 291,430: 28,796 23,727
: Changes from: June 11, 2019 (Change in open interest: -12,896) :
: -971 -2,475 -8,562 -6,075 -4,397 3,181 1,780 -12,427 -13,654: -469 758
: Percent of Open Interest Represented by Each Category of Trader :
: 14.9 21.8 29.4 27.0 34.0 19.6 7.3 90.9 92.5: 9.1 7.5
: Total Traders: 256 Number of Traders in Each Category :
: 61 56 70 71 79 33 15 203 192:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 18, 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 61,122 :
: Positions :
: 33,680 34,315 1,437 0 576 3,109 7,817 873 5,778 1,519 4,239 :
: Changes from: June 11, 2019 :
: 1,587 530 74 0 -400 -808 -1,078 -734 139 -303 239 :
: Percent of Open Interest Represented by Each Category of Trader :
: 55.1 56.1 2.4 0.0 0.9 5.1 12.8 1.4 9.5 2.5 6.9 :
: Number of Traders in Each Category Total Traders: 86 :
: 50 39 . 0 . 5 8 . 8 6 11 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 18, 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 22,221 :
: Positions :
: 8,105 18,047 2,796 0 1,020 6,975 150 1,399 512 0 879 :
: Changes from: June 11, 2019 :
: -803 771 176 -5 -85 1,011 0 -319 -20 -440 19 :
: Percent of Open Interest Represented by Each Category of Trader :
: 36.5 81.2 12.6 0.0 4.6 31.4 0.7 6.3 2.3 0.0 4.0 :
: Number of Traders in Each Category Total Traders: 28 :
: 12 13 4 0 . 4 . . . 0 . :
—————————————————————————————————————-

RICE
General Comments: Rice was lower last week as the rally collapsed. The export sales report was weaker and USDA did not show any big losses in its monthly supply and demand updates early last week. Funds and other speculators were the best sellers. Nearby futures got close to some important support near $11.00 per hundredweight before finding much buying interest. That point will continue to serve as important support this week. The weather seems to be better in Rice country. There was less rain reported in the south and into Mississippi and crop development near the Gulf Coast is called good. The better crop development has created some selling interest for the last of the old crop Rice in producer storage. Some of the producers in Mississippi, Arkansas, and southern Missouri will stop trying to plant Rice and will try to plant Soybeans instead. There can be little doubt now that total planted area will be somewhat reduced, especially in Mississippi and Arkansas. Just how much the planted area will be reduced seems to be a guess at this point. California is reporting good conditions now with hot and drier weather. The crop was planted a little late and the crop condition ratings have not been as strong as is normally seen in the state. The crop there is probably about a week behind normal development. Crop development seems to be generally good in the main Rice Belt and crops in southern areas are now in flood. This has helped ease some quality concerns for producers. World prices remain stable to firm so there is a good chance for more US sales to the west as South America does not appear to be competitive this year. Mostly stable prices are reported in Asia. Indian price trends in the near future are a guess as the monsoon has been late to arrive. There are forecasts for reduced rains from the monsoon this year implying lower yields and lower overall production potential. That would be great for the world market as India usually dumps it surplus out to the world at very low prices that are subsidized by the government.
Overnight News: The Delta should get showers and storms on Tuesday and again over the weekend. Temperatures should be near to below normal.
Chart Analysis: Trends are down with objectives of 1072 and 1051 July. Support is at 1116, 1109, and 1103 July, with resistance at 1138, 1146, and 1156 July.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 18, 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 9,225 :
: Positions :
: 3,956 5,309 126 160 0 1,702 701 0 437 840 842 :
: Changes from: June 11, 2019 :
: 221 343 -1 0 0 219 36 -25 -22 -33 180 :
: Percent of Open Interest Represented by Each Category of Trader :
: 42.9 57.5 1.4 1.7 0.0 18.5 7.6 0.0 4.7 9.1 9.1 :
: Number of Traders in Each Category Total Traders: 53 :
: 11 16 . . 0 9 . 0 8 9 10 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn and Oats both closed lower last week. The highs in Corn were made in response to the monthly USDA supply and demand updates. USDA trimmed planted area by three million acres and also cut yields by ten bushels per acre to 166 bushels per acre. The estimates were more or less expected by the trade, and further adjustments are expected over time. USDA is likely to show less planted area over time and there is also potential for yields to be cut further. The crop is planted for all intents and purposes and much of the crop has been planted in the last few weeks and is very short and very far behind normal progress. There is a chance that cold weather this Fall will catch much of the crop before it is mature and even more bushels could be lost. There is a long way to go before that can be a consideration, and the weather outlook for the coming week seems to be improved. There will be showers but overall the forecast seems drier. It looks like the Midwest will turn warmer, so overall growing conditions should be better. This will be great for the crops as there is plenty of soil moisture and the crops should really start to develop with some sun and warmer temperatures. Futures were unable to sustain the rally for that reason and there are ideas that the rally might be over for now until more is known about the size of the actual crop. Discovering the potential crop size is likely to take quite some time as USDA will need to find the actual acreage and that might not come until producers certify the area for various government programs in the next couple of months. The market will stay very close to all-weather forecasts as the weather will need to be just about perfect from here on out to promote the best yield potential. More extreme weather will cost even more yield and force smaller crops, something the market will react to in a big way. Either way, a move close to or above $5.00 per bushel for new crop Corn futures seems very possible.
Overnight News:
Chart Analysis: Trends in Corn are mixed to up with objectives of 474 and 484 July. Support is at 437, 431, and 421 July, and resistance is at 451, 454, and 457 July. Trends in Oats are down with objectives of 272, 270, and 262 July. Support is at 275, 270, and 264 July, and resistance is at 285, 290, and 292 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 18, 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 2,708,872
: Positions :
: 262,325 162,819 791,916 756,156 1,247,541 506,129 209,989 2,316,527 2,412,265: 392,345 296,607
: Changes from: June 11, 2019 (Change in open interest: 135,866) :
: 8,603 -23,972 34,090 33,168 88,568 39,120 26,335 114,981 125,022: 20,886 10,845
: Percent of Open Interest Represented by Each Category of Trader :
: 9.7 6.0 29.2 27.9 46.1 18.7 7.8 85.5 89.1: 14.5 10.9
: Total Traders: 968 Number of Traders in Each Category :
: 248 145 269 429 443 51 33 843 787:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 18, 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 6,798 :
: Positions :
: 1,007 5,316 136 0 0 1,691 66 6 1,517 0 278 :
: Changes from: June 11, 2019 :
: -113 -240 -1 0 0 -131 -33 0 -75 -30 -285 :
: Percent of Open Interest Represented by Each Category of Trader :
: 14.8 78.2 2.0 0.0 0.0 24.9 1.0 0.1 22.3 0.0 4.1 :
: Number of Traders in Each Category Total Traders: 34 :
: 9 12 . 0 0 10 . . 9 0 4 :
—————————————————————————————————————-

SOYBEANS AND PRODUCTS
General Comments: Soybeans were higher and Soybean Meal was lower last week. The weather is a feature in this market as it has been for Corn. The planting of Soybeans has been just as difficult as planting has been for Corn. There is still a significant part of the crop to be planted and producers will not get done in the USDA data on Monday. Producers still have time to get the Soybeans in the ground as most indicate they will still plant this week and possibly into the Independence Day holiday in the US on July 4th. That should be it, but it could be enough time to get the crop planted depending on the weather. There will undoubtedly be yield loss and USDA will start to calculate the lost crop potential in its monthly updates next month. It seems unlikely now that lost Corn area will get planted to Soybeans as USDA is allowing cover crops to be harvested early in response to the lost Corn production. The trade is also worried about a permanent loss of demand from China due in part to the Swine Flu there and in other parts of Southeast Asia and the trade war with China. This is also happening and the Brazilian producer has been the beneficiary on increased demand from China due to the trade wars. The US has been selling Soybeans almost everywhere else as US prices have been competitive, but the biggest buyer in the world will not buy from the US due to the increased trade tensions. Neither side seems ready to make a deal right now although Trump and Xi will meet this week at the G-20 meetings to try to get talks going again. The Brazilian Real has firmed again in the last week. This will increase Brazil prices and will help the US remain competitive in world markets.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed to up with objectives of 953 July. Support is at 901, 897, and 894 July, and resistance is at 917, 920, and 921 July. Trends in Soybean Meal are mixed. Support is at 315.00, 314.00, and 312.00 July, and resistance is at 323.00, 327.00, and 328.00 July. Trends in Soybean Oil are up with objectives of 2950 July. Support is at 2810, 2780, and 2750 July, with resistance at 2870, 2910, and 2940 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 18, 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 996,601
: Positions :
: 76,306 144,425 338,578 330,490 367,550 183,517 60,272 928,891 910,825: 67,710 85,776
: Changes from: June 11, 2019 (Change in open interest: 45,924) :
: 10,472 -36,578 34,761 -19,318 40,989 9,406 6,382 35,321 45,554: 10,602 369
: Percent of Open Interest Represented by Each Category of Trader :
: 7.7 14.5 34.0 33.2 36.9 18.4 6.0 93.2 91.4: 6.8 8.6
: Total Traders: 623 Number of Traders in Each Category :
: 161 142 224 186 216 45 29 508 526:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 18, 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 500,234
: Positions :
: 66,986 105,933 115,122 143,665 220,184 141,016 32,117 466,788 473,355: 33,446 26,879
: Changes from: June 11, 2019 (Change in open interest: -20,478) :
: -5,830 -18,065 3,800 -13,143 -3,840 -2,303 -979 -17,476 -19,084: -3,002 -1,394
: Percent of Open Interest Represented by Each Category of Trader :
: 13.4 21.2 23.0 28.7 44.0 28.2 6.4 93.3 94.6: 6.7 5.4
: Total Traders: 327 Number of Traders in Each Category :
: 80 85 104 85 77 38 22 268 246:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 18, 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 537,428
: Positions :
: 42,447 49,735 153,286 186,595 270,345 103,872 31,647 486,199 505,013: 51,229 32,415
: Changes from: June 11, 2019 (Change in open interest: 14,086) :
: -5,558 -329 18,631 1,851 -83 -2,612 -4,293 12,313 13,926: 1,773 160
: Percent of Open Interest Represented by Each Category of Trader :
: 7.9 9.3 28.5 34.7 50.3 19.3 5.9 90.5 94.0: 9.5 6.0
: Total Traders: 293 Number of Traders in Each Category :
: 59 66 104 99 93 33 16 257 229:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Canola was a little lower on forecasts for rains in some areas over the weekend. Beneficial rains were reported. The Canadian Dollar was higher as the US Dollar Index moved lower. More rain was in the forecast after rains were reported late this week in Alberta and Saskatchewan. There are reports that farmers are replanting crops and also talk of disease pressure. Some traders expect a sideways market until the crop prospects become more clear. Palm Oil was a little lower again on weaker demand as reported by the private services and ideas of strong production. The outside markets were lower. Overall the market is trying to develop a trading range near the lows. It has been a tough time getting Soybeans planted in the US and this is supporting Palm Oil. Demand ideas are improving on ideas China on increase buying, but ideas are that production remains high.
Overnight News:
Chart Analysis: Trends in Canola are mixed to down with objectives of 448.00 446.00, and 443.00 July. Support is at 451.00, 449.00, and 446.00 July, with resistance at 458.00, 460.00, and 462.00 July. Trends in Palm Oil are mixed to down with objectives of 1920 and 1800 September. Support is at 2000, 1980, and 1950 September, with resistance at 2040, 2070, and 2080 September.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 18, 2019
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
MALAYSIAN PALM OIL CALENDAR SW – CHICAGO MERCANTILE EXCHANGE (CONTRACTS OF 25 METRIC TONS) :
CFTC Code #037642 Open Interest is 21,604 :
: Positions :
: 19,980 16,620 240 1,304 120 0 0 0 1,184 3,480 80 :
: Changes from: June 11, 2019 :
: . . . . . . . . . . . :
: Percent of Open Interest Represented by Each Category of Trader :
: 92.5 76.9 1.1 6.0 0.6 0.0 0.0 0.0 5.5 16.1 0.4 :
: Number of Traders in Each Category Total Traders: 20 :
: . 5 . . . 0 0 0 5 5 . :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 18, 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 153,591 :
: Positions :
: 107,268 50,095 1,622 1,510 279 17,243 58,669 6,767 4,991 20,338 14,392 :
: Changes from: June 11, 2019 :
: -3,909 -2,623 -3,230 243 -119 -797 -5,150 -1,888 -318 -875 -545 :
: Percent of Open Interest Represented by Each Category of Trader :
: 69.8 32.6 1.1 1.0 0.2 11.2 38.2 4.4 3.2 13.2 9.4 :
: Number of Traders in Each Category Total Traders: 267 :
: 34 36 4 . . 12 44 14 60 86 37 :
—————————————————————————————————————-

DJ Canadian Grain Handling Summary – Jun 21
WINNIPEG–The following are Canadian grain handling summary statistics
for the week ended June 16, 2019. Figures in thousands of metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This Week 2271.1 694.1 119.5 271.6 52.5 1022.8 254.9 337.1 5708.5
Week Ago 2241.2 665.9 133.2 262.6 58.5 1028.7 335.3 316.6 5718.5
Year Ago 2207.0 556.8 152.3 298.2 71.0 1066.4 333.1 207.1 5433.5
PRODUCER DELIVERIES
This Week 369.6 130.4 22.5 44.9 3.2 379.8 54.4 14.1 1080.0
Week Ago 487.3 144.1 38.0 49.9 9.5 422.5 87.4 10.9 1335.2
To Date 19163.1 4100.8 1939.4 3154.8 360.7 16197.9 3038.8 506.2 51982.9
Year Ago 16272.3 3403.8 1925.4 2818.2 410.2 17057.8 2689.6 580.5 48923.3
TERMINAL RECEIPTS
This Week 406.9 122.0 4.0 7.1 9.6 169.7 67.0 45.7 894.1
Week Ago 384.6 105.7 9.7 12.9 7.2 177.6 60.1 37.4 872.9
To Date 18439.7 4497.7 387.5 1909.5 144.1 8766.2 1825.6 1303.2 43232.4
Year Ago 15949.2 3843.8 212.4 1625.3 193.0 9662.6 1745.9 1049.8 39828.3
EXPORTS
This Week 329.3 90.3 10.7 1.4 11.9 223.1 103.5 52.3 858.2
Week Ago 258.5 90.6 80.7 37.0 11.7 144.0 44.2 21.0 766.3
To Date 16251.8 3900.2 1402.7 2071.0 234.9 8270.7 1868.6 1579.3 39847.5
Year Ago 14395.7 3480.9 1381.2 1738.9 266.7 9161.4 1843.9 1008.3 37271.9
DOMESTIC DISAPPEARANCE
This Week 82.8 13.0 8.4 21.9 0.7 165.6 2.8 25.8 338.9
Week Ago 46.4 2.4 6.0 22.5 2.0 140.2 4.9 28.4 280.1
To Date 3627.3 317.2 276.6 1019.6 51.9 8272.3 187.1 1036.2 16744.1
Year Ago 4157.3 643.2 272.2 1098.5 50.9 8258.7 205.5 755.7 17713.0
*Totals include data from other crops not shown including rye, soybeans,
canary seed, mustard seed, beans, lentils and chickpeas.
Source: Commodity News Service Canada (news@marketsfarm.com, or 204-414-

Midwest Weather Forecast: More precipitation in all areas today, then drier. Temperatures should be near to above normal.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
June +60 July +163 July +80 July +55 July +1 July
July +50 July +70 July +48 July
August +44 September +65 September +42 August
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Santos
June
July 93 July
August 100 August -12 August 32 September

DJ ICE Canada Cash Grain Close for Jun 21
WINNIPEG–The following are the closing cash canola prices from
ICE Futures for Friday, June 21 (delayed due to technical issues at
source).
Source: ICE Futures
CANOLA
1 Canada NCC Best Bid
Spot Price Basis Contract Change
*Par Region 442.80 -13.00 July 2019 up 0.30
Track Thunder Bay 462.30 -5.00 Nov 2019 dn 2.40
Track Vancouver 472.30 5.00 Nov 2019 dn 2.40
All prices in Canadian dollars per metric ton.
*Quote for previous day
Source: Commodity News Service Canada (news@marketsfarm.com, or
204-414-9084)

DJ Malaysian PM Cash Market Prices for Palm Oil – Jun 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 Ware in ringgit a ton. Palm kernel oil prices are in ringgit a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports
Offer Change Bid Change Traded
Jul 505.00 -02.50 Unquoted – –
Aug 505.00 -02.50 Unquoted – –
Sep 505.00 -02.50 Unquoted – –
Oct/Nov/Dec 520.00 -02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jul 510.00 -02.50 Unquoted – –
Aug 510.00 -02.50 Unquoted – –
Sep 510.00 -02.50 Unquoted – –
Oct/Nov/Dec 525.00 -02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jul 472.50 -02.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jul 380.00 -02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jul 1980.00 -40.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jul 136.00 -01.00 Unquoted – –
($1=MYR 4.1410)

DJ China Dalian Grain Futures Closing Prices, Volume – Jun 24
Soybean No. 1
Turnover: 127,830 lots, or 4.39 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-19 3,307 3,469 3,307 3,340 3,444 3,346 -98 18 604
Sep-19 3,431 3,450 3,413 3,443 3,460 3,433 -27 113,540 136,370
Nov-19 3,419 3,461 3,415 3,434 3,427 3,434 7 14 122
Jan-20 3,426 3,454 3,424 3,447 3,449 3,440 -9 12,082 48,182
Mar-20 3,429 3,429 3,429 3,429 3,434 3,429 -5 2 38
May-20 3,521 3,539 3,512 3,522 3,534 3,522 -12 2,174 21,460
Corn
Turnover: 688,458 lots, or 13.58 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-19 1,904 1,907 1,898 1,904 1,902 1,903 1 5,162 69,864
Sep-19 1,952 1,957 1,946 1,952 1,949 1,952 3 462,100 1,022,842
Nov-19 1,986 1,988 1,976 1,984 1,977 1,982 5 48,824 318,980
Jan-20 2,006 2,017 2,004 2,015 2,007 2,012 5 140,702 537,728
Mar-20 2,028 2,035 2,024 2,034 2,028 2,030 2 486 2,522
May-20 2,065 2,078 2,055 2,074 2,065 2,068 3 31,184 76,142
Soymeal
Turnover: 2,999,672 lots, or 86.89 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-19 2,816 2,858 2,816 2,845 2,839 2,832 -7 878 8,334
Aug-19 2,859 2,909 2,841 2,891 2,874 2,867 -7 64,236 178,036
Sep-19 2,875 2,929 2,860 2,912 2,896 2,896 0 2,567,488 1,912,960
Nov-19 2,903 2,958 2,903 2,941 2,929 2,934 5 574 8,432
Dec-19 2,901 2,947 2,901 2,925 2,925 2,925 0 138 834
Jan-20 2,917 2,954 2,905 2,942 2,938 2,932 -6 300,730 421,748
Mar-20 2,846 2,874 2,846 2,874 2,873 2,863 -10 32 842
May-20 2,760 2,773 2,741 2,765 2,762 2,757 -5 65,596 177,564
Palm Oil
Turnover: 557,220 lots, or 24.16 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-19 – – – 4,268 4,268 4,268 0 0 12
Aug-19 – – – 4,370 4,370 4,370 0 0 2
Sep-19 4,336 4,344 4,298 4,306 4,340 4,316 -24 506,688 709,818
Oct-19 – – – 4,420 4,444 4,420 -24 0 14
Nov-19 – – – 4,496 4,520 4,496 -24 0 22
Dec-19 – – – 4,388 4,412 4,388 -24 0 12
Jan-20 4,518 4,532 4,494 4,500 4,534 4,510 -24 47,490 167,274
Feb-20 – – – 4,584 4,584 4,584 0 0 4
Mar-20 – – – 4,712 4,736 4,712 -24 0 12
Apr-20 – – – 4,702 4,726 4,702 -24 0 4
May-20 4,726 4,744 4,704 4,708 4,736 4,720 -16 3,042 9,170
Jun-20 – – – 4,722 4,738 4,722 -16 0 0
Soybean Oil
Turnover: 354,894 lots, or 19.23 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-19 – – – 5,420 5,420 5,420 0 0 2
Aug-19 5,390 5,398 5,308 5,308 5,386 5,348 -38 16 32
Sep-19 5,416 5,424 5,376 5,386 5,432 5,396 -36 309,550 729,880
Nov-19 – – – 5,500 5,536 5,500 -36 0 2
Dec-19 5,632 5,640 5,632 5,640 5,632 5,636 4 20 32
Jan-20 5,564 5,586 5,540 5,546 5,596 5,560 -36 42,320 187,588
Mar-20 – – – 5,658 5,694 5,658 -36 0 12
May-20 5,682 5,708 5,654 5,660 5,720 5,682 -38 2,988 16,932
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