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 again last week, with Chicago SRW prices the weakest on speculative selling. HRW and Spring Wheat futures were lower but held support areas. The Winter Wheat harvest is moving to completion now under mostly good conditions. The yield and quality reports for HRW have been very good. We have not heard much about the SRW crop but the price action suggests good yields there too. Spring Wheat has held better on uneven conditions in Canada. Rains in the Prairies have been mostly in northern sections and southern sections have been dry. It has been a very dry year overall and there are ideas that yield potential is being affected. US Spring Wheat conditions have been mostly good as the primary growing areas in Montana and North Dakota have had good rains. The weather overseas has not been that good. Europe had some record-setting heat last week that caused the government to tell producers to stop harvesting due to fires that were breaking out in production areas. Yield reports have been good given the stressful weather. Other parts of western Europe have had dry weather and hot conditions as well. Russia has also had some very hot and dry weather in Spring Wheat areas that have caused stress to crops. Winter Wheat areas near the Black Sea appear to be in relatively good condition, and the region was a strong seller to Egypt last week. World prices have been generally firming and have been providing some support to US prices. The market is watching conditions in Brazil, where much of the Winter Wheat crop froze during the recent bout of sub freezing temperatures. Ideas are that Brazil will become a bigger importer this year and will buy primarily from Argentina but also could buy some significant amounts from the US.
Overnight News: The southern Great Plains should get mostly dry conditions. Temperatures should be near to above normal. Northern areas should see mostly dry conditions. Temperatures should be near to above normal. The Canadian Prairies should see mostly dry weather. Temperatures should be near to above normal.
Chart Analysis: Trends in Chicago are mixed to down with objectives of 469, 460, and 436 September. Support is at 493, 487, and 483 September, with resistance at 501, 507, and 510 September. Trends in Kansas City are mixed. Support is at 427, 425, and 418 September, with resistance at 443, 450, and 452 September. Trends in Minneapolis are mixed to down with objectives of 502 and 479 September. Support is at 520, 515, and 512 September, and resistance is at 526, 532, and 538 September.

COT — Supplemental Report – Option and Futures Combined Positions as of July 23, 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 523,620
: Positions :
: 56,235 87,028 196,770 68,728 130,612 168,292 62,657 490,025 477,066: 33,595 46,554
: Changes from: July 16, 2019 (Change in open interest: 19,245) :
: -1,324 4,565 14,080 5,740 -8,016 282 7,460 18,778 18,088: 467 1,157
: Percent of Open Interest Represented by Each Category of Trader :
: 10.7 16.6 37.6 13.1 24.9 32.1 12.0 93.6 91.1: 6.4 8.9
: Total Traders: 366 Number of Traders in Each Category :
: 92 107 139 81 98 47 24 298 297:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of July 23, 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 306,113
: Positions :
: 54,989 72,977 82,207 82,293 106,507 58,291 23,253 277,780 284,944: 28,333 21,169
: Changes from: July 16, 2019 (Change in open interest: 7,177) :
: 214 4,131 4,745 2,240 -1,608 -363 984 6,835 8,252: 342 -1,076
: Percent of Open Interest Represented by Each Category of Trader :
: 18.0 23.8 26.9 26.9 34.8 19.0 7.6 90.7 93.1: 9.3 6.9
: Total Traders: 274 Number of Traders in Each Category :
: 66 67 73 76 80 28 13 212 198:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of July 23, 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 523,620
: Positions :
: 56,235 87,028 196,770 68,728 130,612 168,292 62,657 490,025 477,066: 33,595 46,554
: Changes from: July 16, 2019 (Change in open interest: 19,245) :
: -1,324 4,565 14,080 5,740 -8,016 282 7,460 18,778 18,088: 467 1,157
: Percent of Open Interest Represented by Each Category of Trader :
: 10.7 16.6 37.6 13.1 24.9 32.1 12.0 93.6 91.1: 6.4 8.9
: Total Traders: 366 Number of Traders in Each Category :
: 92 107 139 81 98 47 24 298 297:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of July 23, 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 306,113
: Positions :
: 54,989 72,977 82,207 82,293 106,507 58,291 23,253 277,780 284,944: 28,333 21,169
: Changes from: July 16, 2019 (Change in open interest: 7,177) :
: 214 4,131 4,745 2,240 -1,608 -363 984 6,835 8,252: 342 -1,076
: Percent of Open Interest Represented by Each Category of Trader :
: 18.0 23.8 26.9 26.9 34.8 19.0 7.6 90.7 93.1: 9.3 6.9
: Total Traders: 274 Number of Traders in Each Category :
: 66 67 73 76 80 28 13 212 198:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 23, 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 61,868 :
: Positions :
: 36,984 27,468 1,604 254 39 1,509 15,919 1,809 5,704 1,642 3,779 :
: Changes from: July 16, 2019 :
: 4,153 2,666 212 254 39 -24 1,359 1,109 -69 50 626 :
: Percent of Open Interest Represented by Each Category of Trader :
: 59.8 44.4 2.6 0.4 0.1 2.4 25.7 2.9 9.2 2.7 6.1 :
: Number of Traders in Each Category Total Traders: 88 :
: 45 36 . . . 4 11 4 9 10 12 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 23, 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 25,210 :
: Positions :
: 7,160 21,046 3,392 44 1,446 9,809 0 1,354 615 0 489 :
: Changes from: July 16, 2019 :
: -179 -630 -244 44 209 -307 0 559 -107 0 -71 :
: Percent of Open Interest Represented by Each Category of Trader :
: 28.4 83.5 13.5 0.2 5.7 38.9 0.0 5.4 2.4 0.0 1.9 :
: Number of Traders in Each Category Total Traders: 25 :
: 10 13 . . . 4 0 . . 0 . :
—————————————————————————————————————-

RICE
General Comments: Rice was higher last week and made new highs for the move. Weekly chart trends remain up. Crops in the south will start to be drained from the flood soon and that means that the harvest is just around the corner. Sources in Texas expect a good crop, but probably not top yields. That seems to be the refrain in much of the Rice Belt. Crops look good but no one expects super yields due to the very uneven growing season including a lot of rain at planting time and then uneven conditions due to cooler temperatures and varying rains seen until recently. Arkansas could be the worst state this year as many producers could not get everything planted a head of enroll in the Prevent Plant program. Demand was strong in the weekly export sales report with big buying reported from Haiti and good buying seen from Mexico. Demand until now has generally been firm in export markets and USD indicated in its monthly supply and demand updates that domestic demand has been much stronger than expected. There is also a chance that China could buy US Rice again if the trade talks go well. The two sides are talking in Shanghai this week. Futures look prepared to build on gains this week as the market waits for the harvest to get underway. Weekly charts indicate that prices are getting near some swing targets, and a pick up of farmer selling is anticipated on any further price strength.
Overnight News: The Delta should get mostly dry conditions. Temperatures should be near to below normal.
Chart Analysis: Trends are up with objectives of 1220, 1228, and 1243 September. Support is at 1207, 1203, and 1196 September, with resistance at 1224, 1236, and 1248 September.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 23, 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 8,016 :
: Positions :
: 3,924 4,868 135 0 0 1,500 430 15 247 958 636 :
: Changes from: July 16, 2019 :
: -92 450 -1 0 0 406 -249 15 8 33 124 :
: Percent of Open Interest Represented by Each Category of Trader :
: 49.0 60.7 1.7 0.0 0.0 18.7 5.4 0.2 3.1 12.0 7.9 :
: Number of Traders in Each Category Total Traders: 45 :
: 11 14 . 0 0 9 . . 7 10 8 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn and Oats closed lower as crop conditions continued to improve. It has been cooler but mostly dry in the Midwest. Cooler and drier weather is expected this week after a bought of warmer temperatures and some showers over the weekend. Crops are generally reported to be in good condition with good color, but many areas are now too dry after the very wet Spring and early Summer and the crops need a good drink. The Corn crop in general remains very late and Corn genetics mean that the crop can’t do much to catch up. The Midwest and much of the Great Plains will enjoy below normal temperatures although it will remain rather dry. The cool temperatures will not promote rapid growth, but there will be growth and the condition should stay generally good. Meanwhile, Corn is a market that needs some demand and the weekly export sales reports have not been strong. Overseas buyers can get cheaper Corn in Argentina. Demand for ethanol has also started to go down on weaker processing margins. What happens to Corn prices this year will depend in large part on how the US crop develops. It is very late so even normal freeze dates could cause some big production losses. A good crop is possible, but the producer will need a late freeze to get the crop home.
Overnight News:
Chart Analysis: Trends in Corn are mixed to down with objectives of 400 and 394 September. Support is at 413, 408, and 400 September, and resistance is at 421, 424, and 427 September. Trends in Oats are down with objectives of 255 and 254 September. Support is at 255, 252, and 249 September, and resistance is at 265, 268, and 270 September.

COT — Supplemental Report – Option and Futures Combined Positions as of July 23, 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 2,399,315
: Positions :
: 265,318 156,459 628,831 651,195 1,167,310 485,214 182,126 2,030,559 2,134,727: 368,757 264,588
: Changes from: July 16, 2019 (Change in open interest: -24,706) :
: -17,814 14,433 -428 -7,159 -42,378 3,957 4,249 -21,443 -24,123: -3,262 -583
: Percent of Open Interest Represented by Each Category of Trader :
: 11.1 6.5 26.2 27.1 48.7 20.2 7.6 84.6 89.0: 15.4 11.0
: Total Traders: 976 Number of Traders in Each Category :
: 234 149 264 436 447 50 30 833 786:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 23, 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 5,000 :
: Positions :
: 634 3,640 148 0 0 1,072 155 0 1,365 29 101 :
: Changes from: July 16, 2019 :
: -100 -144 -1 0 0 30 46 0 60 -4 -13 :
: Percent of Open Interest Represented by Each Category of Trader :
: 12.7 72.8 3.0 0.0 0.0 21.4 3.1 0.0 27.3 0.6 2.0 :
: Number of Traders in Each Category Total Traders: 27 :
: 6 9 . 0 0 8 . 0 4 . . :
—————————————————————————————————————-

SOYBEANS AND PRODUCTS
General Comments: Soybeans and Soybean Meal closed lower on ideas of strong competition for sales from South America and improved growing conditions. The market is waiting for news this week from Shanghai as the US and China will start to try to resolve trade and economic differences once again. The entire Midwest saw some cooler and drier weather last week that should have helped reduce stress on the plants. It was warmer with some showers over the weekend but should be mostly dry and cooler again this week. Soybeans were planted very late this year and not all crops are showing good progress. The plants remain small and stressed. Demand news was mixed last week as the export sales report showed weaker demand. There was some talk that China was getting active in buying some US Soybeans to help support futures at the end of last week but these reports were not confirmed and bases levels were reported to be steady. But, the two sides are talking again and China has removed tariffs on up to 3.0 million tons of Soybeans imports from the US by private industry there in a show of good will towards the talks. The problem is that the issues to be resolved are big and very complicated and will require a lot of time and work before success can be claimed by both sides.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed to down with objectives of 865 and 836 August. Support is at 881, 876, and 872 August, and resistance is at 896, 906, and 918 August. Trends in Soybean Meal are down with objectives of 303.00, 299.00, and 292.00 August. Support is at 300.00, 298.00, and 295.00 August, and resistance is at 308.00, 310.00, and 313.00 August. Trends in Soybean Oil are mixed. Support is at 2800, 2780, and 2750 August, with resistance at 2860, 2870, and 2930 August.

COT — Supplemental Report – Option and Futures Combined Positions as of July 23, 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 817,103
: Positions :
: 70,363 126,749 248,933 272,841 315,163 164,507 47,466 756,645 738,311: 60,459 78,792
: Changes from: July 16, 2019 (Change in open interest: 5,875) :
: 4,112 2,748 2,239 -1,681 -4,087 1,813 5,176 6,484 6,076: -609 -202
: Percent of Open Interest Represented by Each Category of Trader :
: 8.6 15.5 30.5 33.4 38.6 20.1 5.8 92.6 90.4: 7.4 9.6
: Total Traders: 594 Number of Traders in Each Category :
: 145 138 207 192 207 47 27 497 488:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of July 23, 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 469,660
: Positions :
: 71,312 112,573 96,748 133,382 199,220 134,393 29,153 435,836 437,694: 33,823 31,965
: Changes from: July 16, 2019 (Change in open interest: 11,791) :
: -593 4,527 9,920 5,209 -3,734 -1,119 1,209 13,417 11,922: -1,627 -131
: Percent of Open Interest Represented by Each Category of Trader :
: 15.2 24.0 20.6 28.4 42.4 28.6 6.2 92.8 93.2: 7.2 6.8
: Total Traders: 318 Number of Traders in Each Category :
: 67 94 93 76 70 38 20 247 232:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of July 23, 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 484,809
: Positions :
: 40,116 64,831 123,574 176,945 227,169 99,344 39,324 439,979 454,897: 44,830 29,912
: Changes from: July 16, 2019 (Change in open interest: 8,756) :
: -1,035 876 7,549 6,045 1,335 -993 599 11,566 10,359: -2,810 -1,604
: Percent of Open Interest Represented by Each Category of Trader :
: 8.3 13.4 25.5 36.5 46.9 20.5 8.1 90.8 93.8: 9.2 6.2
: Total Traders: 281 Number of Traders in Each Category :
: 52 64 97 95 88 31 17 239 221:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Canola was higher Friday on a weaker Canadian Dollar and ideas of less production of Canola this year. There was also some buying seen on hopes for progress in trade negotiations with China and the US this week. Most areas are seeing better weather now, but the weather has been dry and sometimes hot in many growing areas until recently. Growing conditions are improving after rains in the last couple of weeks, but there are areas that are still reported to be too dry. Traders are expecting good but not great crops right now. Palm Oil was a little lower on some speculative long liquidation after October futures hit swing targets for the current up move. It has become a short-term correction trade and now the market can trade sideways to lower as it looks for fundamental news. The market still expects limited upside potential, but the charts show that the market has broken out to the upside and that at least a short-term rally is happening now. There are ideas that there is plenty of production and supply to meet any expected demand. Stocks in Indonesia have increased for four straight months.
Overnight News:
Chart Analysis: Trends in Canola are mixed to up with objectives of 458.00 and 468.00 November. Support is at 446.00, 442.00, and 437.00 November, with resistance at 453.00, 457.00, and 459.00 November. Trends in Palm Oil are up with objectives of 2070 October. Support is at 2030, 2010, and 1980 October, with resistance at 2070, 2090, and 2120 October.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 23, 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 161,348 :
: Positions :
: 125,743 41,823 3,208 1,804 678 11,346 77,095 5,302 3,868 22,848 10,475 :
: Changes from: July 16, 2019 :
: 5,986 2,328 924 1,195 271 -1,113 2,850 266 117 -51 -299 :
: Percent of Open Interest Represented by Each Category of Trader :
: 77.9 25.9 2.0 1.1 0.4 7.0 47.8 3.3 2.4 14.2 6.5 :
: Number of Traders in Each Category Total Traders: 247 :
: 27 36 5 . . 5 56 11 45 81 27 :
—————————————————————————————————————-

DJ Canadian Grain Handling Summary – Jul 26
By MarketsFarm
Winnipeg, July 26 (MarketsFarm) – The following are Canadian grain
handling summary statistics for the week ended July 21, 2019. Figures in
thousands of metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This Week 1887.5 665.6 128.4 273.0 28.2 1018.8 203.7 261.0 5067.2
Week Ago 1973.6 575.8 131.7 257.0 23.7 1055.3 225.0 273.4 5122.9
Year Ago 2146.3 676.6 169.7 273.2 79.7 968.7 346.6 166.0 5283.9
PRODUCER DELIVERIES
This Week 256.3 78.0 18.3 31.8 2.5 326.6 23.6 12.7 802.5
Week Ago 327.7 107.9 28.9 42.8 3.3 360.5 34.7 13.1 987.1
To Date 20714.8 4565.3 2053.5 3337.9 377.2 17886.8 3240.2 567.3 56640.9
Year Ago 18103.2 3996.9 2134.9 3019.5 475.7 18600.4 2892.5 648.9 53923.4
TERMINAL RECEIPTS
This Week 336.3 68.7 1.2 22.6 3.1 138.9 28.1 2.6 702.3
Week Ago 271.6 33.0 0.3 19.1 0.7 228.4 49.0 0.5 734.5
To Date 20293.1 5035.6 414.8 1981.6 162.2 9769.0 2043.7 1384.7 47542.3
Year Ago 17763.9 4399.7 248.5 1735.2 228.1 10518.9 1941.4 1373.6 44101.9
EXPORTS
This Week 228.1 91.3 12.3 39.1 7.2 152.5 62.4 0.0 699.2
Week Ago 365.1 39.0 12.7 1.4 0.4 119.0 57.0 0.0 665.2
To Date 17763.5 4431.3 1476.4 2142.1 278.1 9047.6 2117.6 1708.4 43652.9
Year Ago 15854.1 3850.2 1473.6 1884.8 289.2 10057.1 2066.7 1316.8 41052.8
DOMESTIC DISAPPEARANCE
This Week 111.9 5.2 6.7 25.0 1.6 187.1 2.8 28.0 389.1
Week Ago 95.1 36.6 7.6 25.7 1.3 202.8 2.6 19.2 409.3
To Date 4066.3 365.3 311.3 1148.2 58.8 9294.1 206.9 1168.1 18686.9
Year Ago 4260.5 459.0 304.8 1227.6 54.5 9096.4 221.7 902.4 18767.4

Midwest Weather Forecast: Mostly dry after some rain today. Temperatures should be near to below normal.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
July +54 Sep +150 Sep +40 Sep +69 Aug +12 Aug N/A
August +43 Sep +50 Sep +53 Aug
September +43 Sep +70 Sep +35 Nov
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Santos
July
August
September

DJ ICE Canada Cash Grain Close – Jul 26
WINNIPEG–The following are the closing cash canola prices from
ICE Futures.
Source: ICE Futures
CANOLA
1 Canada NCC Best Bid
Spot Price Basis Contract Change
*Par Region 428.90 -20.00 Nov 2019 dn 1.30
Track Thunder Bay 462.50 12.00 Nov 2019 up 1.60
Track Vancouver 470.50 20.00 Nov 2019 up 1.60
All prices in Canadian dollars per metric ton.
*Quote for previous day
Source: Commodity News Service Canada (Phil Franz-Warkentin,
news@marketsfarm.com, or 204-414-9084)

DJ Malaysian PM Cash Market Prices for Palm Oil – July 29
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
Aug 515.00 +02.50 Unquoted – –
Sep 517.50 +02.50 Unquoted – –
Oct/Nov/Dec 532.50 00.00 Unquoted – –
Jan/Feb/Mar 555.00 -05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Aug 520.00 +02.50 Unquoted – –
Sep 522.50 +02.50 Unquoted – –
Oct/Nov/Dec 537.50 00.00 Unquoted – –
Jan/Feb/Mar 560.00 -05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 490.00 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Aug 360.00 +02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 1,990 -10.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 148 00.00 Unquoted – –
($1=MYR 4.1245)

DJ China Dalian Grain Futures Closing Prices, Volume – Jul 29
Soybean No. 1
Turnover: 152,340 lots, or 5.16 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-19 3,380 3,413 3,365 3,374 3,375 3,383 8 131,306 150,920
Nov-19 3,450 3,451 3,431 3,431 3,434 3,444 10 6 376
Jan-20 3,394 3,417 3,389 3,393 3,396 3,398 2 19,380 69,014
Mar-20 – – – 3,467 3,467 3,467 0 0 30
May-20 3,515 3,527 3,510 3,518 3,512 3,516 4 1,648 27,138
Jul-20 – – – 3,512 3,512 3,512 0 0 10
Corn
Turnover: 623,394 lots, or 12.17 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-19 1,926 1,935 1,925 1,930 1,922 1,930 8 362,734 721,064
Nov-19 1,947 1,958 1,947 1,957 1,947 1,953 6 24,826 369,452
Jan-20 1,977 1,987 1,976 1,986 1,975 1,981 6 223,180 710,972
Mar-20 1,995 2,001 1,994 2,001 1,990 1,997 7 92 2,106
May-20 2,039 2,048 2,037 2,046 2,036 2,042 6 12,410 134,672
Jul-20 2,053 2,060 2,050 2,056 2,053 2,053 0 152 448
Soymeal
Turnover: 1,322,988 lots, or 36.83 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-19 2,788 2,788 2,788 2,788 2,788 2,788 0 118 710
Sep-19 2,780 2,797 2,769 2,770 2,782 2,779 -3 976,022 1,264,348
Nov-19 2,804 2,817 2,786 2,786 2,806 2,795 -11 31,572 233,796
Dec-19 2,813 2,813 2,789 2,789 2,812 2,799 -13 128 1,116
Jan-20 2,816 2,830 2,801 2,801 2,818 2,811 -7 261,086 813,960
Mar-20 2,750 2,753 2,748 2,748 2,767 2,749 -18 16 724
May-20 2,728 2,739 2,717 2,719 2,726 2,725 -1 53,972 252,002
Jul-20 2,726 2,727 2,723 2,725 2,725 2,724 -1 74 338
Palm Oil
Turnover: 608,704 lots, or 26.85 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-19 – – – 4,270 4,270 4,270 0 0 0
Sep-19 4,336 4,394 4,332 4,358 4,326 4,360 34 442,472 431,834
Oct-19 4,500 4,500 4,500 4,500 4,402 4,500 98 6 18
Nov-19 – – – 4,448 4,352 4,448 96 0 14
Dec-19 4,620 4,620 4,620 4,620 4,512 4,620 108 2 12
Jan-20 4,514 4,560 4,506 4,538 4,510 4,534 24 157,834 351,022
Feb-20 – – – 4,596 4,572 4,596 24 0 4
Mar-20 – – – 4,700 4,700 4,700 0 0 12
Apr-20 – – – 4,666 4,642 4,666 24 0 2
May-20 4,704 4,738 4,694 4,722 4,700 4,718 18 8,390 43,892
Jun-20 – – – 4,692 4,692 4,692 0 0 2
Jul-20 – – – 4,692 4,692 4,692 0 0 0
Soybean Oil
Turnover: 871,066 lots, or 49.06 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-19 – – – 5,398 5,398 5,398 0 0 32
Sep-19 5,530 5,618 5,516 5,574 5,524 5,570 46 539,910 550,282
Nov-19 – – – 5,600 5,566 5,600 34 0 6
Dec-19 5,678 5,868 5,580 5,678 5,660 5,710 50 688 30
Jan-20 5,696 5,776 5,674 5,736 5,684 5,726 42 314,916 482,454
Mar-20 5,738 5,792 5,716 5,792 5,708 5,770 62 14 10
May-20 5,770 5,846 5,752 5,804 5,766 5,798 32 15,538 76,448
Jul-20 – – – 5,700 5,700 5,700 0 0 0
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