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 – Jan 10
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL January Jan. 13, 2020 292 Jan 09, 2020
SOYBEAN OIL January Jan. 13, 2020 354 Jan 09, 2020
ROUGH RICE January Jan. 13, 2020 3 Dec 31, 2019
SOYBEAN January Jan. 13, 2020 141 Jan 08, 2020

DJ U.S. Export Sales: Weekly Sales Totals – Jan 10
For the week ended Jan 2, in thousand metric tons, except cotton in
thousand running bales. Net changes in commitments are gross sales,
less cancellations, buy-backs and other downward adjustments. Total
commitments are total export shipments plus total sales.
The marketing year for wheat and barley began Jun 1, cotton and
and rice Aug 1, corn, soybeans and sorghum Sep 1, and soymeal and
soyoil Oct 1. Source: USDA
wk’s net chg total
in commitments commitments undlvd sales
this yr next yr this yr last yr this yr next yr
wheat 80.6 50.0 18934.2 17908.8 4433.6 120.3
hrw 35.7 0.0 6944.3 5578.8 1439.8 0.0
srw 8.4 0.0 2100.5 2277.1 525.7 4.5
hrs 4.6 40.0 5297.3 5504.2 1205.3 44.8
white 11.7 10.0 3781.7 4128.8 1075.7 10.0
durum 20.1 0.0 810.5 419.9 187.1 61.0
corn 161.9 0.0 18516.5 32287.4 9626.9 815.6
soybeans 355.5 3.4 29771.3 30369.2 7807.5 183.5
soymeal 74.2 0.0 5612.9 6909.7 2841.8 87.3
soyoil 2.6 0.0 428.3 405.9 120.8 0.5
upland cotton 152.0 5.5 11626.5 10878.8 7489.6 1003.0
pima cotton 5.2 0.0 353.7 467.2 181.2 35.3
sorghum 20.1 0.0 1107.3 476.6 514.7 0.0
barley 0.0 0.0 58.9 58.3 30.2 0.0
rice 35.4 0.0 2185.3 1907.5 704.1 0.0

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 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 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 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 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

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 higher. The US killed the Iranian general on Iraqi soil and Iran bombed a couple of US bases inside of Iraq. 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. 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 to up with objectives of 570, 573, and 595 March. Support is at 551, 545, and 539 March, with resistance at 564, 567, and 573 March. Trends in Kansas City are mixed to up with objectives of 494, 511, and 525 March. Support is at 477, 467, and 464 March, with resistance at 497, 510, and 513 March. Trends in Minneapolis are mixed to up with objectives of 557, 565, and 579 March. Support is at 547, 542, and 539 March, and resistance is at 557, 566, and 567 March.

RICE
General Comments: Rice was higher on news that the trade agreement with China will in fact be signed in Washington on January 15. The markets had been waiting for this confirmation. The market is also 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. 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 showers and rains through the weekend. Temperatures should be below normal but near to above normal this weekend.
Chart Analysis: Trends are up with objectives of 1350 March. Support is at 1307, 1297, and 1288 March, with resistance at 1332, 1344, and 1349 March.

CORN AND OATS
General Comments: Corn closed unchanged to a little lower and Oats closed higher. The main force behind the weaker Corn market remains the lack of Corn demand over the short term. Export demand has been disappointing and ethanol and other industrial demand faces an uncertain road ahead. Much of the improved ethanol demand will be seen if and when China starts to buy. China just postponed its increase in ethanol production by another year due to weaker than expected domestic Corn production and weak infrastructure. 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. Farmers have been holding. 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.
Overnight News:
Chart Analysis: Trends in Corn are mixed to down with objectives of 378 and 370 March. Support is at 382, 380, and 378 March, and resistance is at 387, 388, and 392 March. Trends in Oats are mixed to up with objectives of 305, 308, and 317 March. Support is at 295, 288, and 283 March, and resistance is at 303, 309, and 312 March.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and Soybean Meal were lower but Soybean Oil closed a little higher. The market is waiting for the USDA reports that will be released later today and also the signing of the trade deal. 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 trim 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 954, 956, and 961 March. Trends in Soybean Meal are mixed. Support is at 299.00, 298.00, and 296.00 March, and resistance is at 304.00, 308.00, and 312.00 March. Trends in Soybean Oil are mixed. Support is at 3440, 3420, and 3380 March, with resistance at 3500, 3550, and 3570 March.

CANOLA AND PALM OIL
General Comments: Canola was higher on confirmation that the trade deal between the US and China would be signed on January 15. The Canadian Dollar was a little weaker and Canadian producers have slowed sales recently. Demand from crushers is reported to be good and crush margins are reported to be strong. Trends are turning up in the market. Palm Oil was 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 and China has been buying. 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. Supplies could run short due to the demand and reuced production over the next couple of months.
Overnight News: SGS said that Malaysian Palm Oil exports are 457,831 tons so far this month, up 21.6% from last month. AmSpec said that eexports are now 455,592 tons, up 24% from last month.
Chart Analysis: Trends in Canola are up with objectives of 491.00 and 500.00 March. Support is at 482.00, 478.00, and 4767.00 March, with resistance at 485.00, 490.00, and 494.00 March. Trends in Palm Oil are mixed to up with objectives of 3140 March. Support is at 3060, 3020, and 3000 March, with resistance at 3150, 3180, and 3210 March.

DJ Canadian Grain Handling Summary – Jan 9
WINNIPEG – The following are Canadian grain handling summary statistics
for the three weeks ended Jan. 5, 2020. Figures in thousands of metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This Week 2714.1 738.5 286.4 403.5 34.4 1375.6 261.2 76.0 6539.3
Week Ago 2343.6 722.2 326.2 437.3 38.9 1388.9 301.6 71.3 6337.3
Year Ago 2945.8 815.6 219.0 295.2 45.4 1090.7 355.9 331.4 6879.1
PRODUCER DELIVERIES
This Week 983.6 162.0 101.7 191.5 15.1 1039.1 188.5 9.7 2878.0
Week Ago 438.5 103.7 47.1 96.6 5.5 385.8 80.4 11.1 1244.1
To Date 8995.2 2120.9 1205.9 1874.5 140.5 8696.4 1981.6 167.6 26832.8
Year Ago 9675.8 1555.7 1032.2 1597.9 149.5 8278.2 1581.7 252.8 26255.5
TERMINAL RECEIPTS
This Week 1023.9 355.6 58.1 176.5 4.7 530.7 111.3 19.5 2551.3
Week Ago 362.3 112.0 13.7 94.6 7.1 171.4 68.7 16.7 987.3
To Date 8419.1 2880.6 297.2 1033.9 61.3 4517.5 1292.9 87.6 21931.2
Year Ago 9608.5 1807.1 245.3 943.4 62.2 4595.2 887.6 566.4 23617.9
EXPORTS
This Week 755.5 279.6 139.4 142.9 17.4 269.4 112.1 0.0 1981.4
Week Ago 276.3 79.4 23.4 177.6 25.2 187.3 22.9 0.0 1058.4
To Date 6820.9 2152.5 808.4 991.6 80.5 3704.9 1242.0 12.5 18288.4
Year Ago 7980.9 1460.2 732.1 972.4 116.6 4345.5 854.9 751.7 20711.9
DOMESTIC DISAPPEARANCE
This Week 199.3 37.1 14.7 82.1 2.4 540.3 11.0 19.8 976.7
Week Ago 132.6 15.0 6.5 30.7 0.5 253.2 5.2 10.5 523.2
To Date 1997.2 193.1 127.7 609.7 19.2 4855.1 97.5 296.5 9022.1
Year Ago 1914.6 144.9 123.2 475.5 22.8 3820.0 91.2 529.1 8450.2
*Totals include data from other crops not shown including rye, soybeans,
canaryseed, mustard seed, beans, lentils and chickpeas.
Source: Commodity News Service Canada (news@marketsfarm.com, or 204-414-9084)

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 +49 Mar +165 Mar +110 Mar +50 Mar +12 Mar N/A
February +54 Mar +112 Mar +48 Mar
March +56 Mar +112 Mar +50 Mar
All basis levels are positive unless noted as negative

DJ ICE Canada Cash Grain Close – Jan 9
WINNIPEG — The following are the closing cash
canola prices from ICE Futures.
Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 446.70 -34.00 Mar 2020 up 2.00
Basis: Thunder Bay 490.20 7.00 Mar 2020 up 2.50
Basis: Vancouver 503.20 20.00 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 10
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Friday, 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 792.50 -02.50 Unquoted – –
Feb 792.50 -02.50 Unquoted – –
Mar 792.50 0.00 Unquoted – –
Apr/May/Jun 765.00 -02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 795.00 -02.50 Unquoted – –
Feb 795.00 -02.50 Unquoted – –
Mar 795.00 0.00 Unquoted – –
Apr/May/Jun 767.50 -02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 782.50 +02.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jan 692.50 +07.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 3,140.00 +10.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 253.00 0.00 Unquoted – –
($1=MYR4.0775)

DJ China Dalian Grain Futures Closing Prices, Volume – Jan 10
Soybean No. 1
Turnover: 219,997 lots, or 8.97 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-20 3,400 3,400 3,360 3,360 3,399 3,397 -2 173 255
Mar-20 3,429 3,489 3,408 3,436 3,454 3,456 2 261 1,269
May-20 4,029 4,129 4,024 4,092 4,000 4,079 79 209,291 111,979
Jul-20 4,049 4,100 4,049 4,100 4,019 4,093 74 15 29
Sep-20 4,009 4,095 3,997 4,032 3,984 4,047 63 10,087 13,977
Nov-20 3,825 3,886 3,819 3,876 3,827 3,858 31 170 217
Corn
Turnover: 420,868 lots, or 8.06 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-20 – – – 1,811 1,811 1,811 0 0 120
Mar-20 1,878 1,878 1,865 1,870 1,872 1,870 -2 30,325 282,881
May-20 1,916 1,920 1,906 1,911 1,918 1,912 -6 339,786 729,045
Jul-20 1,946 1,948 1,937 1,939 1,945 1,941 -4 1,023 6,049
Sep-20 1,975 1,975 1,965 1,968 1,975 1,969 -6 49,304 185,433
Nov-20 1,987 1,987 1,980 1,981 1,987 1,983 -4 430 1,681
Soymeal
Turnover: 1,799,441 lots, or 48.72 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-20 2,618 2,633 2,590 2,591 2,619 2,607 -12 228 2,071
Mar-20 2,638 2,646 2,586 2,588 2,638 2,615 -23 89,815 269,188
May-20 2,719 2,723 2,666 2,666 2,717 2,692 -25 1,353,066 1,737,115
Jul-20 2,750 2,757 2,701 2,701 2,750 2,740 -10 614 5,345
Aug-20 2,803 2,803 2,763 2,763 2,803 2,776 -27 29 96
Sep-20 2,815 2,819 2,762 2,763 2,811 2,787 -24 355,540 1,091,387
Nov-20 2,838 2,839 2,791 2,791 2,833 2,815 -18 83 819
Dec-20 2,867 2,867 2,827 2,829 2,860 2,844 -16 66 187
Palm Oil
Turnover: 2,365,162 lots, or 15.12 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-20 – – – 6,518 6,426 6,518 92 0 4,601
Feb-20 6,642 6,718 6,632 6,718 6,644 6,690 46 9 260
Mar-20 6,636 6,678 6,572 6,676 6,566 6,618 52 122 499
Apr-20 – – – 6,522 6,468 6,522 54 0 13
May-20 6,394 6,476 6,336 6,470 6,334 6,404 70 2,288,248 845,921
Jun-20 6,284 6,300 6,226 6,298 6,144 6,284 140 8 18
Jul-20 – – – 6,162 6,162 6,162 0 0 305
Aug-20 6,074 6,074 6,074 6,074 6,074 6,074 0 2 9
Sep-20 6,060 6,118 5,998 6,104 6,010 6,054 44 76,719 78,119
Oct-20 – – – 6,018 6,018 6,018 0 0 4
Nov-20 – – – 5,980 5,980 5,980 0 0 9
Dec-20 5,926 6,040 5,926 6,040 5,986 6,034 48 54 39
Soybean Oil
Turnover: 658,267 lots, or 45.34 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-20 7,000 7,000 7,000 7,000 6,864 7,000 136 1 1
Mar-20 6,832 6,898 6,832 6,862 6,878 6,856 -22 6 415
May-20 6,924 6,950 6,856 6,938 6,892 6,902 10 598,893 684,654
Jul-20 – – – 6,888 6,880 6,888 8 0 416
Aug-20 – – – 6,814 6,806 6,814 8 0 1
Sep-20 6,768 6,782 6,704 6,770 6,728 6,732 4 59,367 148,773
Nov-20 – – – 6,668 6,666 6,668 2 0 212
Dec-20 – – – 6,790 6,786 6,790 4 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