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 – Sep 9
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL September Sep. 10, 2019 112 Sep 06, 2019
SOYBEAN OIL September Sep. 10, 2019 27 Sep 04, 2019
ROUGH RICE September Sep. 10, 2019 15 Sep 03, 2019
CORN September Sep. 10, 2019 742 Sep 06, 2019
KC HRW WHEAT September Sep. 10, 2019 4 Sep 05, 2019
SOYBEAN September Sep. 10, 2019 409 Sep 06, 2019
WHEAT September Sep. 10, 2019 3 Sep 03, 2019

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. Yield estimates are in bushels per acre and harvested acres are in million acres. The U.S. Department of Agriculture is scheduled to release its monthly estimates at noon on Thursday.
U.S. 2019 Production, Yield (million bushels, bushels per acre)
Average Range USDA August USDA 2018
Corn Production 13,614 13,040-14,003 13,901 14,420
Soybean Production 3,596 3,499-3,745 3,680 4,544
Corn Yield 166.7 163.0-170.7 169.5 176.4
Soybean Yield 47.2 46.0-49.0 48.5 51.6
Corn Soybean
Production Yield Production Yield
Advanced Market 13,530 165.0 3,529 46.5
AgriSource 13,596 166.0 3,524 46.5
Allendale 13,755 N/A 3,499 N/A
DC Analysis 13,701 167.0 3,593 47.4
Doane 13,500 165.0 3,565 47.0
EDF Man 13,860 169.0 3,642 48.0
Farm Futures 14,003 170.7 3,720 49.0
Grain Cycles 13,530 165.0 3,522 46.4
INTL FCStone 13,640 168.4 3,647 48.3
Sid Love Consulting 13,530 165.0 3,605 47.5
Northstar 13,700 168.0 3,567 47.0
Price Futures 13,480 164.4 3,580 47.2
RJOBrien 13,782 168.0 3,650 48.1
RMC 13,653 166.5 3,680 46.0
US Commodities 13,040 163.0 3,552 46.8
Vantage RM 13,776 168.0 3,605 47.5
Western Milling 13,245 165.4 3,745 47.5
Zaner Ag Hedge 13,722 169.0 3,506 46.5

DJ U.S. September 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 Thursday at noon ET.
U.S. Stockpiles (millions)
2018-19
Average Range USDA August
Corn 2,398 2,280-2,460 2,360
Soybeans 1,043 990-1,084 1,070
2019-20
Average Range USDA August
Corn 1,965 1,570-2,269 2,181
Soybeans 661 565-797 755
Wheat 1,014 909-1,037 1,014
2018-19 2019-20
Corn Soybeans Corn Soybeans Wheat
Advanced Market 2,400 1,025 1,851 600 1,005
AgriSource 2,380 1,055 1,870 603 1,025
Allendale 2,417 1,045 2,157 649 1,017
DC Analysis 2,420 1,020 2,091 628 909
Doane 2,440 1,010 1,990 650 1030
EDF Man 2,360 1,070 2,141 717 1010
Farm Futures 2,400 1,044 2,269 797 1,013
Grain Cycles 2,405 1,065 1,835 647 1,014
INTL FCStone 2,344 993 2,004 725 1,037
Sid Love Consulting 2,360 1,070 1,810 679 1,034
Northstar 2,460 990 2,100 660 1,025
Price Futures 2,435 1,015 1,835 599 1,014
RJOBrien 2,449 1,022 2,101 721 1,027
RMC 2,420 1,070 2,090 565 1,014
US Commodities 2,435 1084 1,570 646 1,030
Vantage RM 2,385 1,070 2,056 680 1,014
Western Milling 2,380 1,038 1,600 723 1,022
Zaner Ag Hedge 2,280 1,080 1,992 616 1,009

DJ September 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 Thursday at noon ET.
World Stockpiles (million metric tons)
2018-19
Average Range USDA August
Corn 329.6 327.0-332.3 328.6
Soybeans 114.1 113.0-115.9 114.5
Wheat 275.3 272.0-276.9 275.5
2019-20
Average Range USDA August
Corn 301.8 292.7-307.0 307.7
Soybeans 101.6 97.0-119.0 101.7
Wheat 285.5 283.0-288.1 285.4
2018-19 2019-20
Corn Soybeans Wheat Corn Soybeans Wheat
Advanced Market 327.0 113.0 274.5 298.0 98.0 283.5
Allendale 329.4 114.2 275.5 307.0 99.8 283.6
Doane 330.5 113.0 275.0 305.0 100.0 283.5
EDF Man 328.6 114.5 275.5 307.0 101.0 286.0
Farm Futures 332.3 113.0 272.0 302.0 101.7 284.7
Grain Cycles 329.0 115.0 275.5 297.5 102.5 286.0
INTL FCStone 330.1 115.9 276.9 302.8 119.0 288.1
Northstar 330.0 113.0 276.0 306.0 100.0 288.0
RMC N/A N/A N/A 300.7 97.0 285.4
US Commodities 329.2 115.0 276.0 292.7 98.2 287.0
Western Milling 329.5 114.0 276.0 298.0 102.0 283.0
Zaner Ag Hedge N/A N/A N/A 304.5 99.6 287.2

WHEAT
General Comments: Wheat markets were mixed, with Chicago Soft Red Winter prices closing higher and Chicago Hard Red Winter and Minneapolis Spring Wheat markets closing slightly lower. Chart trends remain down, but the weekly charts in general show very oversold conditions. US prices are getting closer to world values and there are hopes for better demand. However, the weekly export sales report released on Friday showed lower than expected demand. The US Dollar remains very strong and that is hurting the ability of US exporters to sell Wheat. Saudi Arabia tendered for Wheat last week and results should be announced today. The US is often able to sell part of this demand but might have more trouble this time as Saudi Arabia is permitting Black Sea Wheat to be offered and has modified some of the quality requirements so that Black Sea Wheat can be bought. The US Winter Wheat harvest is over and the Spring Wheat harvests in the US and Canada are moving along. September can often be a month when Wheat futures bottom out but it is hard to make a case for a big rally as the US must try to compete with other world sellers for business and against Corn and other feed grains for business inside the US.
Overnight News: The southern Great Plains should get mostly dry conditions. Temperatures should be near to above normal. Northern areas should see scattered showers this week. Temperatures should be near normal. The Canadian Prairies should see mostly dry weather. Temperatures should be variable.
Chart Analysis: Trends in Chicago are mixed to down with objectives of 448 December. Support is at 460, 451, and 442 December, with resistance at 469, 473, and 481 December. Trends in Kansas City are mixed to down with objectives of 376 December. Support is at 389, 381, and 380 December, with resistance at 394, 398, and 400 December. Trends in Minneapolis are mixed to down with no objectives. Support is at 487, 485, and 482 December, and resistance is at 504, 511, and 514 December.

COT — Supplemental Report – Option and Futures Combined Positions as of September 03, 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 448,721
: Positions :
: 53,937 110,622 155,744 66,811 94,649 143,391 45,263 419,884 406,278: 28,837 42,443
: Changes from: August 27, 2019 (Change in open interest: 2,737) :
: -6,229 13,519 2,317 -35 -17,204 6,042 5,604 2,095 4,235: 641 -1,499
: Percent of Open Interest Represented by Each Category of Trader :
: 12.0 24.7 34.7 14.9 21.1 32.0 10.1 93.6 90.5: 6.4 9.5
: Total Traders: 353 Number of Traders in Each Category :
: 64 131 115 78 88 43 22 265 282:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 03, 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 309,780
: Positions :
: 51,622 90,738 75,736 92,190 96,357 62,106 28,371 281,653 291,201: 28,127 18,579
: Changes from: August 27, 2019 (Change in open interest: 8,306) :
: -252 7,173 7,723 -3,832 -11,452 4,018 5,583 7,658 9,027: 648 -721
: Percent of Open Interest Represented by Each Category of Trader :
: 16.7 29.3 24.4 29.8 31.1 20.0 9.2 90.9 94.0: 9.1 6.0
: Total Traders: 291 Number of Traders in Each Category :
: 77 63 61 97 84 33 14 232 198:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 3, 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 66,029 :
: Positions :
: 41,870 24,445 772 0 387 1,118 22,266 1,014 5,815 2,584 4,451 :
: Changes from: August 27, 2019 :
: -4,115 -4,842 0 0 0 209 1,067 -998 43 -46 693 :
: Percent of Open Interest Represented by Each Category of Trader :
: 63.4 37.0 1.2 0.0 0.6 1.7 33.7 1.5 8.8 3.9 6.7 :
: Number of Traders in Each Category Total Traders: 93 :
: 44 37 . 0 . 4 13 . 8 11 12 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 3, 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 19,415 :
: Positions :
: 7,971 15,241 3,225 0 520 5,996 1,026 754 60 948 77 :
: Changes from: August 27, 2019 :
: -62 -93 -138 0 -14 148 -14 -141 0 40 -3 :
: Percent of Open Interest Represented by Each Category of Trader :
: 41.1 78.5 16.6 0.0 2.7 30.9 5.3 3.9 0.3 4.9 0.4 :
: Number of Traders in Each Category Total Traders: 27 :
: 7 14 . 0 . . 4 . . . . :
—————————————————————————————————————-

RICE
General Comments: Rice shot higher again last week but futures seemed to run into a brick wall once November challenged $12.00 per hundredweight multiple times last week. Traders anticipate that USDA will be able to lower yields and lower harvested area in the reports on Thursday. Field yield reports from Texas and Louisiana are less than last year in all cases and average to below average. Initial harvesting is now taking place in Mississippi, Missouri, and Arkansas. Ideas are that field yields will be less in these states as well. Milling quality is said to be good to very good at this point in the harvest. Smut has been reported in Texas away from Houston, but the smut has not affected the milling quality so far. Demand has been good on the export front at over 94,000 tons for the week. Much of the demand was for long grain paddy to Nicaragua. The charts still show up trends.
Overnight News: The Delta should get mostly dry conditions. Temperatures should be above normal.
Chart Analysis: Trends are mixed to up with objectives of 1211 November. Support is at 1184, 1174, and 1155 November, with resistance at 1200, 1209, and 1224 November.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 3, 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 9,211 :
: Positions :
: 5,785 4,579 116 246 0 333 1,243 0 336 846 1,318 :
: Changes from: August 27, 2019 :
: -522 232 2 0 0 53 -817 0 -52 24 -264 :
: Percent of Open Interest Represented by Each Category of Trader :
: 62.8 49.7 1.3 2.7 0.0 3.6 13.5 0.0 3.6 9.2 14.3 :
: Number of Traders in Each Category Total Traders: 52 :
: 15 13 . . 0 . 6 0 6 15 13 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn closed lower as private estimates from FC Stone and Informa showed the potential for production to be as big as USDA estimated last month. Reuters released a survey of estimates on Friday that showed that most estimates expect USDA to lower production but not in a big way. Traders are said to think that there will be more than enough Corn for any demand. Demand ideas remain bad with no one looking for much improvement in the short-term. The weekly export sales report was not strong at all especially as the harvest is coming in the next couple of months. Domestic demand ideas remain bad after the president gave 31 smaller oil refineries waivers from using bio fuels including ethanol. The move got the agricultural community very upset and the president is now being forced to find alternative demand for the products. That has proven difficult so far. Feed demand has been week for the last year as feeders look for other grains such as Wheat. USDA is expected to lower overall demand in its reports this week that could more than offset and reduced production estimates.
Overnight News: Mexico bought 651,670 tons of US Corn.
Chart Analysis: Trends in Corn are down with objectives of 353 December. Support is at 352, 349, and 346 December, and resistance is at 363, 365, and 368 December. Trends in Oats are mixed. Support is at 265, 263, and 262 December, and resistance is at 272, 273, and 277 December.

COT — Supplemental Report – Option and Futures Combined Positions as of September 03, 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 1,989,742
: Positions :
: 175,072 314,741 450,277 646,929 874,180 387,971 127,206 1,660,248 1,766,404: 329,494 223,338
: Changes from: August 27, 2019 (Change in open interest: -42,958) :
: -2,613 22,073 -6,964 -30,190 -60,360 -1,782 10,071 -41,549 -35,180: -1,409 -7,778
: Percent of Open Interest Represented by Each Category of Trader :
: 8.8 15.8 22.6 32.5 43.9 19.5 6.4 83.4 88.8: 16.6 11.2
: Total Traders: 936 Number of Traders in Each Category :
: 200 151 211 439 404 48 33 795 700:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 3, 2019
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
OATS – CHICAGO BOARD OF TRADE (CONTRACTS OF 5,000 BUSHELS) :
CFTC Code #004603 Open Interest is 4,744 :
: Positions :
: 997 3,417 136 0 0 734 353 0 1,355 11 113 :
: Changes from: August 27, 2019 :
: -9 -48 -7 0 0 0 25 0 -3 -1 -1 :
: Percent of Open Interest Represented by Each Category of Trader :
: 21.0 72.0 2.9 0.0 0.0 15.5 7.4 0.0 28.6 0.2 2.4 :
: Number of Traders in Each Category Total Traders: 24 :
: 7 9 . 0 0 5 . 0 . . . :
—————————————————————————————————————-

SOYBEANS AND PRODUCTS
General Comments: Soybeans were lower and Soybean Meal closed a little lower. Soybean Meal posted a new low for the move last week. The markets are weak in front of the USDA production and supply and demand reports that will be released on Thursday. Analysts look for a slight reduction in yield estimates and slightly lower production when compared to June. Bearish traders and analysts look for virtually no change in the USDA estimates. The weather has been cool and is not pushing Soybeans or Corn to maturity. There are no forecasts for freezing temperatures anytime soon, and that offers hopes that Soybeans yield potential can be increased even with the extremely late planting. Analysts will concentrate on the USDA pod counts in this report. Producers and the Pro Farmer Crop Tour participants noted that pod counts were down sharply this year. USDA showed higher pod counts in June. The weekly charts in both markets show the potential for prices to work lower over time.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed. Support is at 855, 853, and 840 November, and resistance is at 866, 869, and 879 November. Trends in Soybean Meal are down with objectives of 286.00 and 276.00 October. Support is at 289.00, 286.00, and 283.00 October, and resistance is at 293.00, 294.00, and 296.00 October. Trends in Soybean Oil are mixed. Support is at 2820, 2800, and 2770 October, with resistance at 2900, 2930, and 2960 October.

COT — Supplemental Report – Option and Futures Combined Positions as of September 03, 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 749,565
: Positions :
: 78,236 157,333 196,636 254,197 269,411 161,744 53,910 690,813 677,291: 58,753 72,274
: Changes from: August 27, 2019 (Change in open interest: 1,010) :
: 1,070 -4,586 -5,285 3,903 10,925 -448 -116 -760 937: 1,770 72
: Percent of Open Interest Represented by Each Category of Trader :
: 10.4 21.0 26.2 33.9 35.9 21.6 7.2 92.2 90.4: 7.8 9.6
: Total Traders: 564 Number of Traders in Each Category :
: 136 139 183 180 189 45 27 467 446:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 03, 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 507,823
: Positions :
: 75,627 87,099 119,165 138,061 246,692 140,310 28,362 473,163 481,318: 34,660 26,505
: Changes from: August 27, 2019 (Change in open interest: 11,790) :
: 504 -3,547 10,210 -2,091 1,982 3,374 2,718 11,997 11,363: -207 427
: Percent of Open Interest Represented by Each Category of Trader :
: 14.9 17.2 23.5 27.2 48.6 27.6 5.6 93.2 94.8: 6.8 5.2
: Total Traders: 333 Number of Traders in Each Category :
: 89 74 117 75 78 37 24 276 249:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 03, 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 469,818
: Positions :
: 37,310 88,845 112,279 169,326 202,373 100,595 33,232 419,510 436,729: 50,308 33,089
: Changes from: August 27, 2019 (Change in open interest: -4,478) :
: -1,962 8,039 4,403 -8,204 -18,284 -312 -748 -6,076 -6,590: 1,598 2,112
: Percent of Open Interest Represented by Each Category of Trader :
: 7.9 18.9 23.9 36.0 43.1 21.4 7.1 89.3 93.0: 10.7 7.0
: Total Traders: 303 Number of Traders in Each Category :
: 57 76 92 108 81 33 14 252 220:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Canola was lower again on Friday and trends are turning down for the short-term on the charts. A stronger Canadian Dollar helped create a little selling interest. There has not been a frost or freeze yet to hurt the seed. Reports from the field indicate good yields. Palm Oil was closed. The market appears to be in a short-term and shallow correction now. Export data from the private sources has been positive so far this month. Buying came as the China-US trade war is causing China to consider dropping quotas on world vegetable oils imports. The market still expects limited upside potential, but the charts show that the market has broken out to the upside. 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 down with objectives of 443.00 and 436.00 November. Support is at 442.00, 440.00, and 437.00 November, with resistance at 447.00, 450.00, and 453.00 November. Trends in Palm Oil are down with objectives of 2140 and 2090 November. Support is at 2150, 2120, and 2110 November, with resistance at 2200, 2240, and 2260 November.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 3, 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 179,943 :
: Positions :
: 142,994 52,830 2,814 2,556 733 7,481 74,293 10,327 2,380 24,896 12,318 :
: Changes from: August 27, 2019 :
: 1,935 -2,199 -107 42 -17 -339 3,385 673 -148 128 401 :
: Percent of Open Interest Represented by Each Category of Trader :
: 79.5 29.4 1.6 1.4 0.4 4.2 41.3 5.7 1.3 13.8 6.8 :
: Number of Traders in Each Category Total Traders: 272 :
: 47 64 4 . . 6 55 10 41 72 40 :
—————————————————————————————————————-

DJ Canadian Grain Handling Summary – Sep 6
By MarketsFarm
Winnipeg, Sept. 6 (MarketsFarm) – The following are Canadian grain
handling summary statistics for the week ended September 2, 2019. Figures in
thousands of metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This Week 1793.3 677.2 176.5 260.1 16.2 825.0 383.0 71.5 4202.8
Week Ago 1726.4 692.3 147.0 214.3 16.0 955.7 296.5 85.1 4555.6
Year Ago 2589.9 685.3 247.4 286.6 39.6 616.1 452.3 252.0 5696.6
PRODUCER DELIVERIES
This Week 223.7 55.3 62.2 84.1 1.2 263.4 173.8 8.5 966.2
Week Ago 273.5 34.1 71.7 41.3 1.3 273.2 154.5 8.8 903.3
To Date 1079.8 239.9 181.7 190.5 5.9 1251.8 447.6 43.7 3709.9
Year Ago 1581.3 256.0 217.3 201.9 13.1 780.5 421.9 67.9 3725.3
TERMINAL RECEIPTS
This Week 348.4 115.3 1.3 1.2 0.0 141.9 44.1 0.1 702.2
Week Ago 319.7 68.7 1.9 3.0 0.0 165.8 27.4 1.1 643.1
To Date 1515.7 489.9 18.0 18.1 0.1 803.1 141.8 3.1 3286.6
Year Ago 1719.9 323.4 52.7 42.1 18.5 467.3 66.1 78.8 2922.2
EXPORTS
This Week 218.0 119.1 19.5 0.6 0.7 215.9 60.3 0.0 713.8
Week Ago 168.9 35.0 38.7 1.8 2.3 146.3 72.9 0.0 491.0
To Date 1237.8 374.5 72.4 31.9 6.1 758.5 153.8 12.5 3021.4
Year Ago 1243.7 234.6 110.0 64.1 29.3 503.8 34.4 124.8 2435.3
DOMESTIC DISAPPEARANCE
This Week 46.0 3.2 5.2 22.4 0.4 199.2 3.4 22.8 320.9
Week Ago 67.5 3.2 5.4 23.9 0.9 154.5 2.6 14.9 295.9
To Date 306.9 23.4 25.4 104.5 2.8 854.0 12.2 93.0 1528.8
Year Ago 296.1 24.3 22.8 76.6 2.7 606.6 9.3 91.0 1223.2

Midwest Weather Forecast: Mostly dry this week, showers could return late in the weekend. Temperatures should be near to below normal.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
September +33 Dec +148 Dec +70 Sep +17 Nov +12 Oct N/A
October +39 Dec +77 Dec +15 Nov
November +43 Dec +77 Dec +23 Nov
All basis levels are positive unless noted as negative

DJ ICE Canada Cash Grain Close – Sep 6
By MarketsFarm
WINNIPEG, Sept. 6 (MarketsFarm) – The following are the closing
cash canola prices from ICE Futures for Friday, September 6.
Source: ICE Futures
CANOLA
1 Canada NCC Best Bid
Spot Price Basis Contract Change
*Par Region 425.30 -20.00 Nov 2019 dn 1.20
Track Thunder Bay 452.80 10.00 Nov 2019 dn 2.50
Track Vancouver 459.80 17.00 Nov 2019 dn 2.50
All prices in Canadian dollars per metric ton.

DJ China Dalian Grain Futures Closing Prices, Volume – Sep 09
Soybean No. 1
Turnover: 160,596 lots, or 5.61 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-19 3,395 3,416 3,395 3,416 3,417 3,406 -11 22 24
Nov-19 3,479 3,479 3,449 3,451 3,499 3,456 -43 26 310
Jan-20 3,466 3,476 3,437 3,440 3,482 3,459 -23 137,808 183,556
Mar-20 3,471 3,473 3,471 3,471 3,496 3,471 -25 6 32
May-20 3,679 3,701 3,662 3,672 3,679 3,680 1 22,734 50,258
Jul-20 – – – 3,671 3,671 3,671 0 0 14
Corn
Turnover: 709,070 lots, or 13.37 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-19 1,817 1,817 1,808 1,808 1,831 1,813 -18 778 2,800
Nov-19 1,856 1,870 1,856 1,861 1,860 1,861 1 133,262 338,552
Jan-20 1,887 1,889 1,880 1,885 1,883 1,884 1 508,882 1,201,478
Mar-20 1,905 1,909 1,903 1,906 1,906 1,906 0 370 4,752
May-20 1,942 1,948 1,940 1,945 1,942 1,944 2 64,952 256,936
Jul-20 1,952 1,960 1,952 1,956 1,952 1,953 1 826 2,422
Soymeal
Turnover: 2,392,598 lots, or 68.39 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-19 2,954 2,954 2,910 2,910 2,944 2,928 -16 524 6,844
Nov-19 2,934 2,945 2,890 2,898 2,942 2,916 -26 55,702 266,774
Dec-19 2,935 2,937 2,882 2,889 2,935 2,914 -21 5,942 2,534
Jan-20 2,888 2,903 2,848 2,851 2,898 2,873 -25 1,987,542 2,092,306
Mar-20 2,840 2,840 2,819 2,819 2,836 2,833 -3 88 814
May-20 2,758 2,773 2,746 2,749 2,751 2,759 8 341,580 762,690
Jul-20 2,758 2,773 2,753 2,753 2,768 2,767 -1 1,218 1,712
Aug-20 2,767 2,767 2,767 2,767 2,773 2,767 -6 2 36
Palm Oil
Turnover: 734,048 lots, or 35.59 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-19 4,654 4,654 4,654 4,654 4,658 4,654 -4 8 9,046
Oct-19 4,746 4,750 4,746 4,750 4,754 4,748 -6 4 8
Nov-19 4,910 4,910 4,752 4,752 4,790 4,804 14 8 10
Dec-19 – – – 4,770 4,758 4,770 12 0 6
Jan-20 4,812 4,864 4,808 4,838 4,772 4,836 64 684,828 525,144
Feb-20 – – – 4,846 4,846 4,846 0 0 722
Mar-20 – – – 4,950 4,950 4,950 0 0 2
Apr-20 – – – 5,022 4,956 5,022 66 0 2
May-20 4,998 5,056 4,996 5,014 4,976 5,020 44 48,200 111,236
Jun-20 – – – 5,046 5,002 5,046 44 0 6
Jul-20 5,062 5,062 5,062 5,062 5,076 5,062 -14 1,000 604
Aug-20 – – – 5,094 5,094 5,094 0 0 2
Soybean Oil
Turnover: 749,062 lots, or 45.48 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-19 6,116 6,116 5,960 6,000 6,038 6,034 -4 48 8,192
Nov-19 – – – 6,078 6,078 6,078 0 0 4
Dec-19 – – – 6,084 6,088 6,084 -4 0 22
Jan-20 6,084 6,126 6,036 6,058 6,072 6,076 4 679,696 910,136
Mar-20 6,136 6,152 6,082 6,118 6,126 6,126 0 20 520
May-20 6,032 6,066 5,980 6,002 6,022 6,016 -6 68,298 213,692
Jul-20 6,010 6,010 6,010 6,010 6,112 6,010 -102 1,000 526
Aug-20 – – – 6,158 6,262 6,158 -104 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