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 – Mar 2
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL March Mar. 03, 2020 674 Feb 28, 2020
SOYBEAN OIL March Mar. 03, 2020 653 Feb 27, 2020
ROUGH RICE March Mar. 03, 2020 83 Feb 26, 2020
KC HRW WHEAT March Mar. 03, 2020 9 Feb 20, 2020

WHEAT:
General Comments: Wheat markets were lower for the week in Chicago, but higher in Minneapolis. The move lower in the Winter Wheat markets in Chicago came on the back of weaker world prices. Russia has been lowering its prices in an effort to stimulate sales and to move the old crop Wheat out of storage before the new crop comes in. East and West Europe have weaker prices as well. The good news is that sales of US Wheat continue to move along at a good pace, at least until last couple of weeks. There is a space for US Wheat in the world market even with all of the competition from Russia and also Europe. The competition for sales is strong as seen in the Russian and European pricing and this is what has hurt the futures prices recently. The super strong US Dollar just adds to the difficulty US producers and exporters have with sales of US Wheat into the world market. Chart trends turned down on the weekly charts last week in Chicago and it is possible that major tops have been formed.
Overnight News: The southern Great Plains should get mostly dry conditions. Temperatures should average near to above normal. Northern areas should see mostly dry conditions except for some light snow tomorrow. Temperatures will average near to above normal. The Canadian Prairies should see mostly dry conditions. Temperatures should average above normal.
Chart Analysis: Trends in Chicago are down with no objectives. Support is at 520, 515, and 512 May, with resistance at 533, 540, and 549 May. Trends in Kansas City are down with no objectives. Support is at 446, 442, and 439 May, with resistance at 464, 466, and 469 May. Trends in Minneapolis are down with objectives of 518 May. Support is at 521, 518, and 516 May, and resistance is at 528, 534, and 535 May.

COT — Supplemental Report – Option and Futures Combined Positions as of February 25, 2020
: 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 557,399
: Positions :
: 104,653 93,209 199,107 58,718 160,578 162,460 51,086 524,938 503,980: 32,461 53,419
: Changes from: February 18, 2020 (Change in open interest: -90,098) :
: -17,904 2,747 -46,490 -11,529 -28,152 -9,938 -12,586 -85,861 -84,481: -4,237 -5,616
: Percent of Open Interest Represented by Each Category of Trader :
: 18.8 16.7 35.7 10.5 28.8 29.1 9.2 94.2 90.4: 5.8 9.6
: Total Traders: 397 Number of Traders in Each Category :
: 89 119 136 71 116 53 22 303 318:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of February 25, 2020
: 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 285,634
: Positions :
: 45,092 57,198 71,036 58,724 114,028 84,363 20,076 259,215 262,338: 26,419 23,296
: Changes from: February 18, 2020 (Change in open interest: -27,790) :
: -6,741 -654 -14,807 -3,064 -12,121 -1,727 -716 -26,339 -28,298: -1,451 508
: Percent of Open Interest Represented by Each Category of Trader :
: 15.8 20.0 24.9 20.6 39.9 29.5 7.0 90.8 91.8: 9.2 8.2
: Total Traders: 261 Number of Traders in Each Category :
: 64 49 77 73 82 34 18 215 193:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of February 25, 2020
: 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 69,265 :
: Positions :
: 35,684 31,981 2,055 0 0 4,226 18,544 3,404 6,626 982 4,150 :
: Changes from: February 18, 2020 :
: -2,900 -4,838 -239 0 -8 -525 1,902 -410 186 -373 -408 :
: Percent of Open Interest Represented by Each Category of Trader :
: 51.5 46.2 3.0 0.0 0.0 6.1 26.8 4.9 9.6 1.4 6.0 :
: Number of Traders in Each Category Total Traders: 92 :
: 46 37 . 0 0 7 13 6 8 5 8 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of February 25, 2020
: 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 25,590 :
: Positions :
: 8,552 22,240 4,225 372 1,623 8,309 0 255 1,644 250 600 :
: Changes from: February 18, 2020 :
: 1,032 757 0 191 -73 37 0 -9 124 150 0 :
: Percent of Open Interest Represented by Each Category of Trader :
: 33.4 86.9 16.5 1.5 6.3 32.5 0.0 1.0 6.4 1.0 2.3 :
: Number of Traders in Each Category Total Traders: 32 :
: 11 21 . . . 5 0 . . . . :
—————————————————————————————————————-

RICE
General Comments: Rice was a little higher. 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 further rally attempts. Demand for US Rice remains generally positive and 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. It was a short crop grown under very difficult conditions, so producers are willing to hold out for better prices. Those that sold early have seen the Rice consumed already. Mills and exporters are thought to be covered for now but will need to step into the market to buy again soon.
Overnight News: The Delta should get mostly dry conditions. Temperatures should be near to above normal.
Chart Analysis: Trends are mixed. Support is at 1346, 1343, and 1333 May, with resistance at 1363, 1374, and 1378 May.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of February 25, 2020
: 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 14,353 :
: Positions :
: 5,029 9,072 92 0 0 5,586 928 0 671 1,200 909 :
: Changes from: February 18, 2020 :
: 103 -141 0 0 0 213 0 0 65 24 -350 :
: Percent of Open Interest Represented by Each Category of Trader :
: 35.0 63.2 0.6 0.0 0.0 38.9 6.5 0.0 4.7 8.4 6.3 :
: Number of Traders in Each Category Total Traders: 63 :
: 16 18 . 0 0 21 . 0 10 6 9 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn moved a little lower last week. Oats were sharply lower. All in all it was a tough week for US agricultural futures. Neither market has much going on for it right now. The rally in the US Dollar combined with weaker competitive prices hurt Corn. The spread of the Coronavirus was just ne factor in the move lower. The Coronavirus has been seen in China and neighboring countries, but now is being reported all over the world. Export demand was solid last week, and ethanol and other industrial demand has started to improve but faces an uncertain road ahead, in part due to weaker petroleum demand ideas caused by the virus. Export demand remains an open question despite the big sales in the last few weeks and the trade deals consummated in the last couple of weeks with Canada, Mexico, and China. Much of the improved ethanol demand will be seen if and when China starts to buy. Feed demand is improved.
Overnight News:
Chart Analysis: Trends in Corn are down with objectives of 358 May. Support is at 366, 363, and 360 May, and resistance is at 374, 375, and 379 May. Trends in Oats are down with no objectives. Support is at 270, 266, and 263 March, and resistance is at 281, 287, and 290 May.

COT — Supplemental Report – Option and Futures Combined Positions as of February 25, 2020
: 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 1,815,443
: Positions :
: 160,757 301,514 418,357 506,275 729,892 443,914 148,095 1,529,303 1,597,858: 286,140 217,585
: Changes from: February 18, 2020 (Change in open interest: -85,840) :
: 10,594 37,300 -62,073 -8,137 -33,574 -13,921 -30,800 -73,536 -89,147: -12,303 3,307
: Percent of Open Interest Represented by Each Category of Trader :
: 8.9 16.6 23.0 27.9 40.2 24.5 8.2 84.2 88.0: 15.8 12.0
: Total Traders: 759 Number of Traders in Each Category :
: 129 148 177 346 329 52 30 626 603:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of February 25, 2020
: 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 5,038 :
: Positions :
: 1,136 4,019 112 0 0 1,047 0 0 1,307 10 151 :
: Changes from: February 18, 2020 :
: -624 -818 0 0 0 -52 0 0 -70 6 1 :
: Percent of Open Interest Represented by Each Category of Trader :
: 22.6 79.8 2.2 0.0 0.0 20.8 0.0 0.0 25.9 0.2 3.0 :
: Number of Traders in Each Category Total Traders: 28 :
: 10 15 . 0 0 6 0 0 . . . :
—————————————————————————————————————-

SOYBEANS AND PRODUCTS
General Comments: Soybeans closed a little lower, but well off its lows on demand rumors and the rally in Soybean Meal. Soybean Meal was higher on demand from Philippines and on buying related to spreads against Soybean Oil. It seems like everyone is waiting for the trade deal with China to kick in and for them to buy in quantity and there was some talk late last week that China had bought a few cargoes of Soybeans from the PNW. This talk was not confirmed. China has not yet asked for a modification of the terms due to the Coronavirus outbreak currently decimating the south central area of the country and it is no longer expected to seek any modifications. There are hopes that China will start to buy in earnest from the US starting very soon. A lot will depend on the price of US Soybeans and those from Brazil and Argentina. Lower prices there will hurt overall demand here, and lower prices are very possible in Brazil. Brazil is harvesting now and yield reports from the field indicate that a bumper crop is coming. Argentina has been dry and has just raised its export tax by 3%. Tat will push export demand to Brazil and potentially the US. A super strong US Dollar has hurt US export chances in all products.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed. Support is at 885, 878, and 872 May, and resistance is at 899, 910, and 917 May. Trends in Soybean Meal are up with objectives of 310.00 and 320.00 May Support is at 301.00, 297.00, and 295.00 May, and resistance is at 307.00, 311.00, and 315.00 May. Trends in Soybean Oil are down with no objectives. Support is at 2840, 2810, and 2780 May, with resistance at 2970, 3010, and 3040 May.

DJ Brazil Soybean Harvest Lags Last Year Amid Scarce Rain in South — Market Talk
0803 ET – Brazil’s soybean harvest was 40% finished as of Feb. 27, according to agricultural consultancy AgRural. That was slightly above the five-year average for the date but far behind the 52% completed on the same date last year, the group said. Harvesting work in Mato Grosso state, Brazil’s biggest producer of the oilseeds, is in the final stretch, with 83% of harvesting finished, though excess rain is slowing work in many other states. In Rio Grande do Sul state, a lack of rain has caused some losses and the outlook is for dry weather in March as well. Despite the disappointing results in Rio Grande do Sul, AgRural in February raised its forecast for Brazil’s 2019-2020 soybean harvest to 125.6 million metric tons, which would be a record. (jeffrey.lewis@wsj.com)

DJ Argentina Soybean Industry Hopes for Agreement Over Exports — Market Talk
0743 ET – Argentina’s soybean industry hopes to reach an agreement with the government over a possible increase to the tax on exports of the oilseed and its derivatives, according to Luis Zubizarreta, president of the Argentina Soybean Chain Association. Argentine President Alberto Fernandez announced a series of measures on Sunday to help cut the country’s debt, and said the government would only raise the tax on one agricultural product, without specifying which one. The government is expected to announce details of the measures on Tuesday. Everyone understood that Fernandez was talking about soybeans and soy products, one of the country’s most important exports, according to Zubizarreta. His group, which represents growers, suppliers and processors, is opposed to a higher tax. (jeffrey.lewis@wsj.com)

COT — Supplemental Report – Option and Futures Combined Positions as of February 25, 2020
: 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 932,765
: Positions :
: 74,572 162,529 248,368 329,781 391,045 205,699 60,124 858,421 862,067: 74,344 70,698
: Changes from: February 18, 2020 (Change in open interest: -93,313) :
: 8,851 -769 -43,772 -39,716 -35,120 -14,228 -13,099 -88,865 -92,760: -4,448 -553
: Percent of Open Interest Represented by Each Category of Trader :
: 8.0 17.4 26.6 35.4 41.9 22.1 6.4 92.0 92.4: 8.0 7.6
: Total Traders: 587 Number of Traders in Each Category :
: 140 131 199 192 195 51 28 489 471:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of February 25, 2020
: 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 535,217
: Positions :
: 56,522 48,919 142,459 167,070 277,757 133,319 32,888 499,370 502,023: 35,848 33,194
: Changes from: February 18, 2020 (Change in open interest: -26,555) :
: -6,337 3,770 -14,899 267 -16,199 -4,940 -1,848 -25,909 -29,177: -645 2,622
: Percent of Open Interest Represented by Each Category of Trader :
: 10.6 9.1 26.6 31.2 51.9 24.9 6.1 93.3 93.8: 6.7 6.2
: Total Traders: 322 Number of Traders in Each Category :
: 74 66 103 92 84 40 21 268 237:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of February 25, 2020
: 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 530,638
: Positions :
: 43,169 120,603 121,266 184,504 218,604 128,558 35,699 477,497 496,172: 53,141 34,466
: Changes from: February 18, 2020 (Change in open interest: -7,622) :
: -4,083 3,961 2,187 -7,053 -10,335 62 -3,986 -8,887 -8,173: 1,265 550
: Percent of Open Interest Represented by Each Category of Trader :
: 8.1 22.7 22.9 34.8 41.2 24.2 6.7 90.0 93.5: 10.0 6.5
: Total Traders: 329 Number of Traders in Each Category :
: 56 90 94 110 86 38 18 267 245:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Canola was mostly a little higher in consolidation trading. Strength in Soybeans help Canola while lower Soybean Oil and Palm Oil prices did not. New reports that the Caronavirus had spread to South Korea, Italy, and Iran over the weekend, and the news yesterday indicated a new case had surfaced in California in the last couple of days. The number of new cases reported inside China continues to drop. The spread of the virus brought more fears about the health of the world economic scene. Palm Oil was slightly higher on speculative buying tied to bargain hunting. Demand from India has been hardest hit due to a political problem between the two countries. Production is lower but is starting to increase seasonally.
Overnight News: SGS said Malaysian Palm Oil exports were 1.075 million tons, from 1.220 million in January.
Chart Analysis: Trends in Canola are mixed. Support is at 454.00, 451.00, and 448.00 May, with resistance at 461.00, 466.00, and 468.00 May. Trends in Palm Oil are down with objectives of 2240 May. Support is at 2290, 2260, and 2230 May, with resistance at 2410, 2480, and 2520 May.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of February 25, 2020
: 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 184,078 :
: Positions :
: 154,863 79,245 3,072 1,353 614 590 73,826 4,564 7,595 11,410 11,559 :
: Changes from: February 18, 2020 :
: -3,056 -9,439 -2,610 57 -98 -202 3,386 19 -16 481 -3,637 :
: Percent of Open Interest Represented by Each Category of Trader :
: 84.1 43.0 1.7 0.7 0.3 0.3 40.1 2.5 4.1 6.2 6.3 :
: Number of Traders in Each Category Total Traders: 215 :
: 36 48 5 4 . . 60 11 37 42 20 :
—————————————————————————————————————-

DJ Canadian Grain Handling Summary – Feb 28
WINNIPEG–The following are Canadian grain handling summary statistics
for the week ended Feb. 23, 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 3066.8 739.3 324.4 386.4 42.2 1537.2 361.3 95.9 7132.7
Week Ago 3036.4 757.9 342.9 411.5 42.0 1617.3 337.3 92.9 7233.6
Year Ago 2924.8 864.4 235.5 388.5 46.7 1065.5 330.2 420.8 7058.0
PRODUCER DELIVERIES
This Week 302.2 87.6 32.0 56.8 2.5 303.1 43.7 7.1 888.1
Week Ago 369.3 91.5 39.1 85.6 6.6 329.1 56.7 6.4 1058.8
To Date 11814.3 2709.5 1505.4 2411.8 180.7 11346.3 2434.2 218.1 34833.4
Year Ago 12327.2 2204.4 1325.8 2212.3 200.5 10618.6 2042.7 318.1 33850.2
TERMINAL RECEIPTS
This Week 200.3 72.2 7.7 39.7 0.1 148.7 29.5 4.0 562.7
Week Ago 156.1 46.5 10.8 16.2 1.3 94.4 25.7 1.7 416.5
To Date 9967.5 3252.0 322.2 1220.0 72.4 5835.7 1540.5 124.6 26121.4
Year Ago 11728.1 2102.3 264.6 1319.6 70.7 5910.1 1105.1 753.0 28469.6
EXPORTS
This Week 189.0 102.9 50.9 84.4 0.4 157.6 76.8 0.0 711.9
Week Ago 173.7 70.5 20.5 0.7 0.6 233.6 25.1 0.0 544.3
To Date 8582.8 2664.2 997.8 1234.8 96.9 5092.0 1555.1 12.5 23148.3
Year Ago 10086.4 1940.1 888.5 1393.1 139.6 5513.5 1128.5 872.7 25726.6
DOMESTIC DISAPPEARANCE
This Week 51.3 2.3 5.9 35.0 0.7 179.6 3.5 8.0 307.6
Week Ago 47.8 4.5 7.1 33.9 0.8 193.0 4.8 9.2 329.2
To Date 2256.8 219.5 178.6 904.4 25.7 5851.4 131.7 360.3 10934.0
Year Ago 2310.8 191.2 162.9 616.7 31.8 5189.9 118.9 670.2 10850.0
*Totals include data from other crops not shown including rye, soybeans,
canaryseed, mustard seed, beans, lentils and chickpeas.
Source: Commodity News Service Canada (Phil Franz-Warkentin,
news@marketsfarm.com, or 204-414-9084)

Midwest Weather Forecast: Mostly dry weather. Temperatures should average near to below normal, but will turn warm late this weekend.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
March
+54 Mar
+150 May
+120 May
+57 Mar
+12 May
N/A
April
+56 May
+105 May
+52 May

May
+54 May
+105 May
+51 May

DJ ICE Canada Cash Grain Close – Feb 28
WINNIPEG — The following are the closing cash
canola prices from ICE Futures.
Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 416.60 -29.90 Mar 2020 up 0.20
Basis: Thunder Bay 463.30 7.00 May 2020 dn 0.30
Basis: Vancouver 474.30 18.00 May 2020 dn 0.30
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 – March 2
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Monday, 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 602.50 +05.00 Unquoted – –
Apr 592.50 00.00 Unquoted – –
May/Jun 587.50 +05.00 Unquoted – –
Jul/Aug/Sep 587.50 +05.00 Unquoted – –
Oct/Nov/Dec 592.50 +07.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 605.00 +05.00 Unquoted – –
Apr 595.00 00.00 Unquoted – –
May/Jun 590.00 +05.00 Unquoted – –
Jul/Aug/Sep 590.00 +05.00 Unquoted – –
Oct/Nov/Dec 595.00 +07.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Mar 620.00 00.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Chang0 Bid Change Traded
Mar 610.00 00.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change T raded
Mar 2,450.00 -50.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Mar 180.00 -03.00 Unquoted – –
($1=MYR.1990)

DJ China Dalian Grain Futures Closing Prices, Volume – Mar 02
Soybean No. 1
Turnover: 179,532 lots, or 7.41 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-20 3,605 3,730 3,605 3,730 3,634 3,650 16 386 558
May-20 4,081 4,178 4,081 4,157 4,165 4,134 -31 166,441 117,671
Jul-20 4,108 4,175 4,108 4,161 4,158 4,141 -17 33 82
Sep-20 4,003 4,080 3,997 4,070 4,080 4,047 -33 12,260 22,795
Nov-20 3,954 3,990 3,954 3,990 3,995 3,983 -12 9 279
Jan-21 3,962 4,005 3,955 3,996 4,004 3,974 -30 403 1,619
Corn
Turnover: 592,411 lots, or 11.57 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-20 1,892 1,905 1,886 1,905 1,890 1,896 6 321 2,863
May-20 1,927 1,945 1,927 1,943 1,925 1,938 13 398,068 575,044
Jul-20 1,945 1,964 1,945 1,960 1,945 1,958 13 23,869 63,544
Sep-20 1,971 1,990 1,970 1,988 1,969 1,983 14 162,769 352,490
Nov-20 1,986 2,003 1,985 2,002 1,985 1,997 12 2,532 5,766
Jan-21 1,995 2,013 1,993 2,011 1,993 2,008 15 4,852 10,510
Soymeal
Turnover: 2,425,658 lots, or 66.04 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-20 2,615 2,700 2,615 2,700 2,586 2,680 94 376 1,351
May-20 2,634 2,735 2,631 2,719 2,647 2,697 50 1,480,708 1,266,923
Jul-20 2,645 2,760 2,645 2,744 2,672 2,721 49 78,086 89,107
Aug-20 2,692 2,790 2,692 2,786 2,701 2,754 53 12,182 1,910
Sep-20 2,706 2,798 2,702 2,786 2,719 2,762 43 802,395 1,330,275
Nov-20 2,731 2,820 2,729 2,809 2,749 2,789 40 26,766 1,829
Dec-20 2,783 2,839 2,779 2,839 2,775 2,802 27 117 300
Jan-21 2,752 2,846 2,752 2,835 2,770 2,814 44 25,028 38,517
Palm Oil
Turnover: 1,050,086 lots, or 52.88 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-20 – – – 5,060 5,060 5,060 0 0 10
Apr-20 5,164 5,178 5,094 5,178 5,198 5,144 -54 3 10
May-20 4,952 5,068 4,946 5,034 5,070 5,022 -48 916,246 342,224
Jun-20 5,124 5,124 4,968 5,018 5,064 4,988 -76 42 50
Jul-20 4,972 5,028 4,912 5,026 5,026 4,978 -48 12 318
Aug-20 – – – 5,158 5,138 5,158 20 0 2
Sep-20 5,046 5,180 5,040 5,154 5,168 5,122 -46 131,871 147,080
Oct-20 – – – 5,088 5,132 5,088 -44 0 5
Nov-20 5,090 5,268 4,940 5,156 5,198 5,096 -102 109 13
Dec-20 5,162 5,180 5,162 5,180 5,170 5,170 0 2 159
Jan-21 5,036 5,192 5,036 5,170 5,176 5,144 -32 1,801 8,459
Feb-21 – – – 5,294 5,326 5,294 -32 0 0
Soybean Oil
Turnover: 502,126 lots, or 28.52 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-20 – – – 5,282 5,618 5,282 -336 0 0
May-20 5,600 5,692 5,592 5,678 5,696 5,650 -46 398,879 355,134
Jul-20 5,748 5,790 5,716 5,756 5,742 5,758 16 6 627
Aug-20 – – – 5,796 5,796 5,796 0 0 4
Sep-20 5,728 5,818 5,718 5,808 5,820 5,778 -42 100,488 194,153
Nov-20 5,826 5,826 5,826 5,826 5,872 5,826 -46 1 655
Dec-20 5,980 5,980 5,980 5,980 5,942 5,980 38 1 23
Jan-21 5,826 5,944 5,826 5,940 5,932 5,918 -14 2,751 16,331
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