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

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
February +46 Mar
+155 Mar
+95 Mar
+57 Mar
+12 Mar N/A
March +52 Mar
+105 Mar
+59 Mar

April +56 May
+105 May
+50 May

DJ ICE Canada Cash Grain Close – Feb 25
WINNIPEG — The following are the closing cash
canola prices from ICE Futures.
Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 416.56 -33.14 Mar 2020 dn 8.60
Basis: Thunder Bay 463.30 7.00 May 2020 dn 2.50
Basis: Vancouver 474.30 18.00 May 2020 dn 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 – February 26
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
Mar 627.50 -10.00 Unquoted – –
Apr 607.50 -20.00 Unquoted – –
May/Jun 600.00 -15.00 Unquoted – –
Jul/Aug/Sep 600.00 -10.00 Unquoted – –
Oct/Nov/Dec 600.00 -05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 630.00 -10.00 Unquoted – –
Apr 610.00 -20.00 Unquoted – –
May/Jun 602.50 -15.00 Unquoted – –
Jul/Aug/Sep 602.50 -10.00 Unquoted – –
Oct/Aug/Sep 602.50 -05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 637.50 -17.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Mar 617.50 -12.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change T raded
Mar 2,500.00 -100.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Mar 188.00 -03.00 Unquoted – –
($1=M200.2330)

DJ China Dalian Grain Futures Closing Prices, Volume – Feb 26
Soybean No. 1
Turnover: 166,631 lots, or 6.91 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-20 3,551 3,551 3,550 3,550 3,573 3,550 -23 4 891
May-20 4,122 4,179 4,122 4,171 4,124 4,153 29 153,800 128,407
Jul-20 4,162 4,162 4,126 4,160 4,121 4,147 26 8 53
Sep-20 4,069 4,107 4,069 4,094 4,069 4,091 22 12,551 22,863
Nov-20 3,994 4,002 3,994 4,002 3,979 3,998 19 5 264
Jan-21 4,000 4,023 3,991 4,013 3,989 4,011 22 263 1,403
Corn
Turnover: 156,558 lots, or 3.02 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-20 1,874 1,884 1,874 1,879 1,877 1,878 1 380 9,318
May-20 1,917 1,918 1,911 1,913 1,914 1,913 -1 108,442 586,656
Jul-20 1,941 1,943 1,938 1,940 1,940 1,940 0 7,549 58,268
Sep-20 1,965 1,967 1,961 1,963 1,963 1,963 0 39,350 323,427
Nov-20 1,984 1,985 1,981 1,981 1,981 1,982 1 330 5,021
Jan-21 1,996 1,996 1,993 1,995 1,993 1,993 0 507 8,848
Soymeal
Turnover: 649,136 lots, or 17.29 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-20 2,591 2,591 2,558 2,574 2,584 2,574 -10 743 4,570
May-20 2,631 2,642 2,623 2,638 2,621 2,633 12 396,002 1,258,035
Jul-20 2,664 2,674 2,657 2,669 2,657 2,664 7 50,609 86,065
Aug-20 2,735 2,735 2,699 2,704 2,693 2,705 12 2,254 2,447
Sep-20 2,725 2,732 2,717 2,722 2,713 2,723 10 188,728 1,267,880
Nov-20 2,753 2,755 2,742 2,746 2,739 2,747 8 5,965 2,201
Dec-20 2,776 2,781 2,774 2,778 2,769 2,776 7 34 340
Jan-21 2,786 2,790 2,776 2,780 2,772 2,781 9 4,801 33,538
Palm Oil
Turnover: 1,100,727 lots, or 57.59 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-20 5,260 5,328 5,260 5,286 5,368 5,286 -82 29 52
Apr-20 – – – 5,606 5,606 5,606 0 0 10
May-20 5,210 5,268 5,190 5,238 5,308 5,228 -80 993,123 355,311
Jun-20 5,202 5,202 5,200 5,200 5,428 5,200 -228 3 6
Jul-20 5,174 5,212 5,174 5,208 5,376 5,190 -186 9 305
Aug-20 – – – 5,192 5,376 5,192 -184 0 2
Sep-20 5,280 5,288 5,222 5,258 5,322 5,252 -70 104,836 123,972
Oct-20 5,230 5,230 5,230 5,230 5,448 5,230 -218 1 5
Nov-20 5,148 5,350 5,148 5,312 5,370 5,272 -98 5 7
Dec-20 5,308 5,308 5,308 5,308 5,338 5,308 -30 1 158
Jan-21 5,236 5,250 5,196 5,226 5,290 5,222 -68 2,720 7,372
Feb-21 – – – 5,372 5,412 5,372 -40 0 0
Soybean Oil
Turnover: 466,251 lots, or 27.10 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-20 5,620 5,620 5,616 5,616 5,850 5,618 -232 3 2
May-20 5,778 5,826 5,738 5,798 5,816 5,786 -30 381,824 355,346
Jul-20 5,894 5,894 5,854 5,854 5,978 5,864 -114 4 424
Aug-20 – – – 5,986 5,986 5,986 0 0 4
Sep-20 5,900 5,946 5,872 5,920 5,950 5,914 -36 82,576 192,991
Nov-20 – – – 6,040 6,040 6,040 0 0 215
Dec-20 6,104 6,104 6,104 6,104 6,122 6,104 -18 2 21
Jan-21 6,052 6,072 6,002 6,044 6,088 6,042 -46 1,842 13,491
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