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 U.S. January Grain, Soybean Stockpiles Estimates — Survey
CHICAGO–The following are analysts’ estimates in millions of bushels for U.S. ending stockpiles for 2019-20, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Friday at noon ET.
U.S. 2019-20 Stockpiles (millions) USDA
Average Range December 2018-19
Corn 1,753 1,479-1,960 1,910 2,114
Soybeans 432 310-520 475 913
Wheat 972 930-1,000 974 1,080
2019-20
Corn Soybeans Wheat
AgriSource 1,801 356 964
Allendale 1,853 456 960
DC Analysis 1,679 439 946
Doane Advisory 1,835 435 985
EDF Man 1,915 425 964
Futures International 1,849 473 981
Grain Cycles 1,537 423 967
Hueber Report 1,730 435 960
INTL FCStone 1,796 438 959
Kapco Futures 1,776 461 999
Sid Love Consulting 1,560 429 994
Midland Research 1,709 391 974
Northstar Commodity 1,890 310 1,000
Prime-Ag 1,681 393 974
RJ O’Brien 1,710 457 995
Risk Mgmt Commodities 1,750 403 934
Turner’s Take Ag Marketing 1,960 475 974
US Commodities 1,812 448 970
VantageRM 1,702 410 930
Western Milling 1,479 520 999
Zaner Ag Hedge 1,795 490 989

DJ January 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 2019-20, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Friday at noon ET.
World 2019-20 Stockpiles (million metric tons)
USDA
Average Range December
Corn 297.3 290.5-301.0 300.6
Soybeans 95.7 91.7-97.5 96.4
Wheat 288.2 284.0-290.0 289.5
2019-20
Corn Soybeans Wheat
Allendale 299.8 96.1 289.2
Doane Advisory 300.0 96.0 288.0
EDF Man 301.0 96.0 290.0
Futures International 296.0 94.9 288.6
Grain Cycles 290.5 94.7 287.5
Hueber Report 298.1 95.5 288.5
INTL FCStone 294.7 91.7 287.5
Kapco Futures 299.0 97.0 290.0
Northstar Commodity 299.0 95.4 289.0
Prime-Ag 295.0 95.0 289.0
Risk Mgmt Commodities 294.0 95.0 284.0
Turner’s Take Ag Marketing 301.0 96.4 289.5
US Commodities 298.1 97.5 288.0
Western Milling 295.0 97.0 288.5
Zaner Ag Hedge 298.1 97.2 286.3

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 on Friday at noon ET.
U.S. Corn, Soybean Production (million bushels)
USDA
Average Range December 2018-2019
Corn Production 13,494 13,030-13,701 13,661 14,420
Corn Yield 165.9 164.5-167.5 167.0 176.4
Harvested Acres 81.3 79.2-81.8 81.8 81.7

Soybean Production 3,519 3,457-3,591 3,550 4,428
Soybean Yield 46.6 45.9-47.2 46.9 50.6
Harvested Acres 75.6 75.0-77.2 75.6 87.6
Corn Soybean
Production Yield Harvested Production Yield Harvested
Acres
AgriSource 13,527 166.0 81.5 3,457 45.9 75.3
Allendale 13,599 166.7 81.6 3,523 46.7 75.4
DC Analysis 13,605 166.3 81.8 3,532 46.7 75.6
Doane Advisory 13,600 166.3 81.8 3,535 46.7 75.6
EDF Man 13,550 166.4 81.5 3,500 46.4 75.4
Futures International 13,594 167.2 81.3 3,534 46.7 75.7
Grain Cycles 13,472 165.5 81.4 3,548 47.0 75.5
Hueber Report 13,349 165.0 80.9 3,508 46.5 75.4
INTL FCStone 13,472 165.5 81.4 3,488 46.5 75.0
Kapco Futures 13,527 167.0 81.0 3,536 46.9 75.4
Sid Love Consulting 13,496 166.0 81.3 3,496 46.5 75.2
Midland Research 13,510 165.4 81.7 3,516 46.5 75.6
North Star Commodity 13,701 167.5 81.8 3,508 46.4 75.6
Prime-Ag 13,332 165.0 80.8 3,468 46.0 75.4
RJ O’Brien 13,561 166.6 N/A 3,512 46.6 N/A
Risk Mgmt Commodities 13,431 164.8 81.5 3,478 46.0 75.6
Turner’s Take Ag Marketing 13,529 166.0 81.5 3,550 46.9 75.6
US Commodities 13,512 165.6 81.6 3,538 46.8 75.6
VantageRM 13,603 166.5 81.7 3,530 46.7 75.6
Western Milling 13,030 164.5 79.2 3,591 46.5 77.2
Zaner Ag Hedge 13,381 164.8 81.2 3,558 47.2 75.4

DJ Survey: Dec. 1 Quarterly Grain, Soybean Stockpiles Estimates
CHICAGO–The following are analysts’ estimates in millions of bushels for December 1 quarterly U.S. grain and soybean stockpiles, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated tables at noon ET on Friday.
U.S. Stockpiles on Dec. 1, 2019 (million bushels)
USDA
Average Range Sept. 2019 Dec. 2018
Corn 11,416 10,926-11,660 2,114 11,937
Soybeans 3,179 3,023-3,379 913 3,746
Wheat 1,922 1,835-2,047 2,385 2,009
Corn Soybeans Wheat
Advanced Market 11,150 3,205 1,835
Doane 11,450 3,165 1,885
EDFMan Capital 11,600 3,350 1,900
Futures INTL 11,489 3,100 1,928
Grain Cycles 11,290 3,120 1,980
INTL FCStone 11,376 3,137 2,047
Sid Love Consulti 11,466 3,216 1,916
Midland Research 11,344 3,140 1,930
Northstar Commodi 11,611 3,023 1,950
Prime-Ag 11,400 3,125 1,850
RJ O’Brien 11,434 3,142 1,894
U.S. Commodities 11,660 3,160 1,885
Vantage RM 11,606 3,125 1,922
Western Milling 10,926 3,292 1,924
Zaner Ag Hedge 11,437 3,379 1,983

DJ Survey: USDA U.S. Winter Wheat Seedings Estimates
CHICAGO–The following are analysts’ estimates in millions of acres for 2020-21 U.S. winter wheat that was planted in October and November, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release its report at noon ET on Friday.
U.S. 2020-21 U.S. Winter Wheat Seedings Estimates
Average Range USDA 2019-20
All Winter Wheat 30.7 30.0-32.2 31.2
Hard Red Winter 22.1 21.6-23.1 22.5
Soft Red Winter 5.1 4.6-5.6 5.2
White Winter 3.4 3.3-3.5 3.5
All Winter Hard-Red Soft-Red White
Advanced Market 30.0 21.9 4.8 3.3
Doane 31.0
EDFMan Capital 30.5 22.0 5.0 3.5
Futures INTL 31.1 22.4 5.2 3.5
Grain Cycles 30.5 22.5 4.6 3.4
INTL FCStone 30.2 21.6 5.2 3.5
Sid Love Consulting 30.6 22.0 5.2 3.4
Midland Research 30.5 21.9 5.1 3.5
Northstar Commodity 30.4 21.9 5.0 3.5
Prime-Ag 30.5
RJ O’Brien 30.9 22.0 5.5 3.4
U.S. Commodities 31.1 22.4 5.3 3.4
Vantage RM 30.8 22.1 5.2 3.5
Western Milling 30.3 22.0 5.0 3.3
Zaner Ag Hedge 32.2 23.1 5.6 3.5

DJ CBOT Delivery Intentions: Totals – Jan 8
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL January Jan. 09, 2020 574 Jan 07, 2020
SOYBEAN OIL January Jan. 09, 2020 298 Jan 07, 2020
SOYBEAN January Jan. 09, 2020 258 Jan 03, 2020

BRIEF-Brazil’s 2019/2020 soybean output estimate upped to 122.225 mln T – Conab – Reuters
08-Jan-2020 06:06:14 AM
Jan 8 (Reuters) – ]
• BRAZIL 2019/2020 TOTAL GRAIN CROP SEEN AT 248.006 MILLION TNS VERSUS 246.634 MILLION TNS IN ESTIMATE AND 242.120 MILLION TONS IN 2018/2019 – CONAB
• BRAZIL 2019/2020 SOYBEAN CROP SEEN AT 122.225 MILLION TNS VERSUS 121.092 MILLION TNS IN ESTIMATE AND 115.030 MILLION TNS IN 2018/2019 – CONAB
• BRAZIL 2019/2020 TOTAL CORN CROP SEEN AT 98.711 MILLIONTNS VERSUS 98.409 MILLION TNS IN ESTIMATE AND 100.046 MILLION TNS IN 2018/2019 ESTIMATE – CONAB
• BRAZIL 2019/2020 FIRST-CORN CROP SEEN AT 26.617 MILLION TNS VERSUS 26.313 MILLION TNS IN ESTIMATE AND 25.647 IN 2018/2019 – CONAB
• BRAZIL 2019/2020 SECOND-CORN CROP SEEN AT 70.936 MILLION TNS VERSUS 70.936 MILLION TNS IN ESTIMATE AND 73.178 MILLION TNS IN 2018/2019 – CONAB
• BRAZIL 2019/2020 TOTAL CORN AREA SEEN AT 17.536 MILLION HA VERSUS 17.544 MILLION HA IN ESTIMATE AND 17.496 MILLION HA IN 2018/2019 – CONAB
• BRAZIL 2019/2020 SOYBEAN AREA SEEN AT 36.798 MILLION HA VERSUS 36.791 MILLION HA IN ESTIMATEAND 35.874 MILLION HA IN 2018/2019 – CONAB
• BRAZIL 2019/2020 CORN EXPORTS SEEN AT MILLION TNS VERSUS 34 MILLION TNS IN FORECAST AND 41.5 MILLION TNS IN 2018/2019 – CONAB
• BRAZIL’S 2019/2020 SECOND-CORN AREA SEEN AT 12.878 MILLION HA VERSUS 12.878 MILLION HA IN ESTIMATE AND 12.878 MILLION HA IN 2018/2019 – CONAB
• BRAZIL 2019/2020 SOYBEAN YIELDS SEEN AT 3,322 KG/HA VERSUS 3,291 KG/HA IN DEC FORECAST AND 3,206 KG/HA IN 2018/19 – CONAB
• BRAZIL 2019/2020 TOTAL CORN YIELDS SEEN AT 5,629 KG/HA VERSUS 5,609 KG/HA IN DEC FORECAST AND 5,718 KG/HA IN 2018/19- CONAB

WHEAT:
General Comments: Wheat markets were lower except for nearby March Chicago SRW which closed with fractional gains. It was all about follow through selling from the US decision to kill the Iranian general on Iraqi soils over the weekend. The US will probably lose some Wheat and Rice export business as a result. The US weather improved in the Great Plains and Midwest as forecasts call for more precipitation for later this week. World markets have rallied in the face of reduced production potential for Australia and Russia and the new tax regime for Argentina.. The Australian problem is very serious as record heat with almost no rain was noted in important growing areas. There is no relief in sight. World prices will still be dictated by what happens in Europe and the Black Sea area and US prices will most likely remain a follower as the US tries to compete for sales. Chart patterns on daily and weekly charts suggest that trends are still up but that further corrective trading lower is possible this week. The USDA reports are expected to show somewhat reduced production for this year and reduced planted area for next year because of the relatively unprofitable prices seen until just recently.
Overnight News: The southern Great Plains should get mostly dry conditions this week and some light and mixed precipitation at the end of the week. Temperatures should trend to near to above normal this week and near to below normal this weekend. Northern areas should see mostly dry conditions except for some light precipitation over the middle of the week. Temperatures will average near to below normal. The Canadian Prairies should see mostly dry weather. Temperatures should be below normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 545, 539, and 537 March, with resistance at 553, 558, and 564 March. Trends in Kansas City are mixed. Support is at 467, 464, and 456 March, with resistance at 484, 497, and 510 March. Trends in Minneapolis are mixed. Support is at 543, 539, and 533 March, and resistance is at 557, 566, and 567 March.

RICE
General Comments: Rice was slightly higher in consolidation trading. The market is waiting for the USDA reports and is also noting the potential for lost demand to Iraq. Iraq is a buyer of US milled Rice and anything to upset sales to that important destination would be noted. In addition, ideas are that Rice has little to gain from the China deal as China is not likely to take much US Rice if any. Some producers are selling the next crop and the trade and open interest in the September contract is relatively large for the time of year. More selling from producers of the next crop is expected on any rally attempts. The export sales pace in general has been very good. The US domestic market is now quiet with the harvest mostly done and no one real interested in selling. Mills and exporters are thought to be covered.
Overnight News: The Delta should get dry weather except for some rain on Thursday. Temperatures should be below normal but near to above normal this weekend.
Chart Analysis: Trends are mixed to down with objectives of 1279 and 1251 March. Support is at 1297, 1288, and 1286 March, with resistance at 1309, 1316, and 1322 March.

DJ USDA World Market Rice Prices – Jan 8
USDA today announced the prevailing world market prices
of milled and rough rice, adjusted for U.S. milling yields
and location, and the resulting marketing loan gain (MLG)
and loan deficiency payment LDP) rates. Source: USDA
—-World Price—– MLG/LDP Rate
Milled Value Rough
($/cwt) ($/cwt) ($/cwt)
Long Grain 14.56 9.29 0.00
Medium/Short Grain 14.23 9.53 0.00
Brokens 8.78 —- —-

CORN AND OATS
General Comments: Corn closed mostly a little lower and Oats closed lower. The main driver remains the lack of Corn demand over the short-term. Export demand has been disappointing and ethanol and other industrial demand has started to improve but faces an uncertain road ahead. Much of the improved ethanol demand will be seen if and when China starts to buy. Feed demand remains unknown but has been disappointing over the last couple of years given the increase in animal numbers seen in the US. There is little Corn available to the domestic cash market. The market has been short Corn as farmers have been holding. That means that there is very little Corn available to the domestic and international cash market. Ukraine has been selling and offers from Argentina have been at lower prices. USDA is expected to show reduced production from reduced yields and planted area, but the total losses are not expected to be large. Demand ideas are expected to hold for another month but will depend on the quarterly stocks estimate being in line with trade ideas.
Overnight News: Unknown destinations bought 207,000 tons of US Corn.
Chart Analysis: Trends in Corn are mixed to down with objectives of 378 and 370 March. Support is at 380, 378, and 377 March, and resistance is at 388, 392, and 393 March. Trends in Oats are mixed. Support is at 288, 283, and 276 March, and resistance is at 295, 301, and 303 March.

DJ Brazil Corn Demand Rising as Ethanol Production, feedlots Use, Increase — Market Talk
0712 ET – Demand for Brazil’s corn production is increasing, and farmers are planting a larger area with the crop, as more cattle raisers make use of feedlots instead of pastures to feed their herds, according to Brazilian crop agency Conab. Demand for the grain from ethanol producers is also growing as more plants producing the fuel from corn have been built, the agency said. Exports are increasing as well, Conab said. Brazil’s corn production has doubled in the past decade, but is still far from the quantities produced in the US and China, the world’s biggest and second-biggest producers of the grain, according to the USDA.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and products moved lower in response to the killing of the Iranian general. The news that the US and China had reached agreement on a Phase One deal that covered agricultural goods was bullish but the killing of the Iranian general was bearish and the more recent news. A signing ceremony will be held in the US on January 15 and then new buying from China is expected. A lot will depend on the price of US Soybeans and those from Brazil and Argentina. Lower prices there will hurt overall demand here. China will return in the end to buy at least as many Soybeans as it did before the trade war, but when is the main problem and is compounded by good growing conditions and ideas of big crops in South America. Many US producers have put their Soybeans into storage and not selling. This has caused basis levels to firm in the country and at the Gulf of Mexico. USDA is expected to tim production by cutting yields and perhaps harvested area. Demand should be left unchanged.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed. Support is at 937, 934, and 923 March, and resistance is at 947, 956, and 961 March. Trends in Soybean Meal are mixed. Support is at 300.00, 298.00, and 296.00 March, and resistance is at 308.00, 312.00, and 315.00 March. Trends in Soybean Oil are mixed. Support is at 3440, 3420, and 3380 March, with resistance at 3550, 3570, and 3600 March.

CANOLA AND PALM OIL
General Comments: Canola was higher as the Canadian Dollar weakened. Demand from crusher is reported to be good and crush margins are reported to be strong. Palm Oil was unchanged to higher on news that Malaysia would implement B24 in its fuel blends. Indonesia has also announced plans to increase biofuels in its mixtures, including B48 and B50. India has improved its imports of Palm Oil. Demand has been a problem in India due to government tariffs there, but the tariffs are now gone and reports indicate that demand has sharply increased.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 476.00, 473.00, and 470.00 March, with resistance at 482.00, 485.00, and 490.00 March. Trends in Palm Oil are mixed. Support is at 3020, 3000, and 2920 March, with resistance at 3150, 3180, and 3210 March.

Midwest Weather Forecast: Some rain and snow through the weekend. Temperatures should average near to above normal in the south and east and near to below normal in the north and west.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
January +47 Mar +170 Mar +104 Mar +50 Jan +12 Mar N/A
February +52 Mar +110 Mar +49 Mar
March +57 Mar +110 Mar +49 Mar
All basis levels are positive unless noted as negative

DJ ICE Canada Cash Grain Close – Jan 7
WINNIPEG — The following are the closing cash
canola prices from ICE Futures.
Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 446.20 -31.00 Mar 2020 dn 1.10
Basis: Thunder Bay 486.70 7.00 Mar 2020 up 2.50
Basis: Vancouver 497.70 18.00 Mar 2020 up 2.50
All prices in Canadian dollars per metric tonne.
*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 – January 8
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Wednesday, 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 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
Jan 780.00 -02.50 Unquoted – –
Feb 782.50 -02.50 Unquoted – –
Mar 782.50 -02.50 Unquoted – –
Apr/May/Jun 755.00 -05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 782.50 -02.50 Unquoted – –
Feb 785.00 -02.50 Unquoted – –
Mar 785.00 -02.50 Unquoted – –
Apr/May/Jun 757.50 -05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 767.50 0.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jan 680.00 -05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 3,090.00 0.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 253.00 -03.00 Unquoted – –
($1=MYR4.0983)

DJ China Dalian Grain Futures Closing Prices, Volume – Jan 08
Soybean No. 1
Turnover: 57,122 lots, or 2.25 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-20 3,380 3,399 3,380 3,399 3,398 3,392 -6 116 124
Mar-20 3,415 3,459 3,415 3,440 3,439 3,440 1 12 1,192
May-20 3,916 3,965 3,907 3,954 3,923 3,936 13 52,739 84,844
Jul-20 – – – 3,975 3,960 3,975 15 0 22
Sep-20 3,939 3,961 3,927 3,959 3,952 3,946 -6 4,248 12,736
Nov-20 3,777 3,805 3,777 3,800 3,809 3,798 -11 7 140
Corn
Turnover: 352,184 lots, or 6.78 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-20 – – – 1,811 1,811 1,811 0 0 750
Mar-20 1,877 1,878 1,868 1,871 1,873 1,875 2 44,440 291,822
May-20 1,925 1,930 1,917 1,918 1,922 1,923 1 264,579 752,264
Jul-20 1,955 1,957 1,946 1,947 1,951 1,952 1 483 6,131
Sep-20 1,983 1,986 1,972 1,976 1,980 1,979 -1 41,760 182,939
Nov-20 1,991 1,998 1,987 1,989 1,991 1,994 3 922 1,498
Soymeal
Turnover: 1,547,694 lots, or 42.48 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-20 2,621 2,624 2,609 2,609 2,622 2,621 -1 89 3,535
Mar-20 2,660 2,663 2,635 2,646 2,659 2,650 -9 86,351 280,490
May-20 2,739 2,742 2,714 2,727 2,743 2,729 -14 1,141,168 1,735,101
Jul-20 2,770 2,774 2,750 2,759 2,777 2,764 -13 740 4,903
Aug-20 2,812 2,827 2,806 2,806 2,821 2,814 -7 7 91
Sep-20 2,831 2,837 2,812 2,816 2,834 2,824 -10 319,256 1,052,664
Nov-20 2,849 2,855 2,835 2,838 2,853 2,843 -10 73 809
Dec-20 2,868 2,886 2,868 2,886 2,887 2,879 -8 10 103
Palm Oil
Turnover: 1,666,321 lots, or 10.54 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-20 6,408 6,408 6,408 6,408 6,344 6,408 64 25 4,601
Feb-20 6,710 6,716 6,592 6,680 6,594 6,658 64 7 266
Mar-20 6,570 6,618 6,526 6,546 6,548 6,558 10 106 461
Apr-20 6,466 6,508 6,414 6,414 6,492 6,468 -24 14 15
May-20 6,334 6,404 6,290 6,316 6,302 6,336 34 1,602,134 794,077
Jun-20 6,218 6,286 6,180 6,180 6,120 6,248 128 7 16
Jul-20 – – – 6,162 6,162 6,162 0 0 305
Aug-20 – – – 6,074 6,090 6,074 -16 0 7
Sep-20 6,000 6,068 5,968 5,992 5,986 6,004 18 64,024 82,068
Oct-20 – – – 6,018 6,018 6,018 0 0 4
Nov-20 – – – 5,980 5,980 5,980 0 0 9
Dec-20 5,882 6,060 5,882 5,900 5,946 5,968 22 4 12
Soybean Oil
Turnover: 591,968 lots, or 40.60 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-20 6,860 6,928 6,860 6,928 6,766 6,864 98 28 0
Mar-20 – – – 6,758 6,758 6,758 0 0 416
May-20 6,864 6,918 6,828 6,848 6,816 6,872 56 538,303 656,170
Jul-20 6,880 6,880 6,880 6,880 6,710 6,880 170 1 416
Aug-20 – – – 6,806 6,638 6,806 168 0 1
Sep-20 6,688 6,736 6,666 6,688 6,644 6,704 60 53,636 144,648
Nov-20 – – – 6,598 6,576 6,598 22 0 211
Dec-20 – – – 6,718 6,658 6,718 60 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