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 USDA Report: Summary for U.S. Agriculture Supply, Demand
Following are key numbers from the USDA’s crop report and
how the government’s estimates compared to analysts’ forecasts in a
Wall Street Journal survey.
U.S. Stockpiles (million bushels)
2019-20 Thursday’s
Estimate Average Range USDA Mar.
Corn 2,092.0 1,990 1,790-2,150 1,892
Soybeans 480.0 444 400- 504 425
Wheat 970.0 945 910- 999 940
***
World Stockpiles (million metric tons)
2019-20
Thursday’s
Estimate Average Range USDA Mar.
Corn 303.2 298.5 293.0-301.0 297.3
Soybeans 100.5 101.9 98.5-104.9 102.4
Wheat 292.8 287.0 283.9-291.0 287.1
***
Brazil Corn, Soybean Production (million metric tons)
Thursday’s
2019-20 Estimate Average Range USDA Mar.
Corn 101.0 100.3 99.0-101.1 101.0
Soybeans 124.5 124.2 123.0-126.0 126.0
Argentina Corn, Soybean Production (million metric tons)
Thursday’s
Estimate Average Range USDA Mar.
Corn 50.0 49.7 49.0-51.7 50.0
Soybeans 52.0 52.7 51.0-54.0 54.0

DJ USDA Supply/Demand: Crop Summary – Apr 9
U.S. ending stocks in million bushels, except soy oil in million pounds,
cotton in million (480 pound) bales and rice in million cwt. Exports and
Production in million metric tons except cotton in million (480 pound)
bales.
Projections based on trends and analysts’ judgments, not survey
date. Source: USDA’s World Agricultural Outlook Board.
======U.S.====== ================WORLD===================
Ending Stocks Exports Production
19/20 18/19 17/18 : 19/20 18/19 17/18 : 19/20 18/19 17/18
Soybeans 480.0 909.0 438.0 :151.50 148.30 153.08 : 338.08 358.65 342.09
Brazil na na : 78.50 74.59 76.14 : 124.50 117.00 122.00
Argentina na na : 8.20 9.10 2.13 : 52.00 55.30 37.80
China na na : 0.13 0.12 0.13 : 18.10 15.97 15.28
Soyoil 1,830 1,775 1,995 : 11.49 11.18 10.54 : 56.66 55.71 55.13
Corn 2,092 2,221 2,140 :165.93 180.89 148.24 : 1,113 1,124 1,080
China na na : 0.02 0.02 0.02 : 260.77 257.33 259.07
Argentina na na : 33.50 37.24 22.47 : 50.00 51.00 32.00
S.Africa na na : 2.50 1.20 2.07 : 16.00 11.82 13.10
Cotton 6.70 4.85 4.20 : 40.64 41.12 41.58 : 121.71 118.61 123.78
All Wheat 970 1,080 1,099 :182.71 173.54 182.47 : 764.46 731.46 762.88
China na na : 1.00 1.01 1.00 : 133.59 131.43 134.33
EU 27 na na : 33.50 23.31 23.38 : 154.00 136.86 151.13
Canada na na : 23.00 24.40 22.00 : 32.35 32.20 30.38
Argentina na na : 13.50 12.19 12.73 : 19.50 19.50 18.50
Australia na na : 8.20 9.01 13.85 : 15.20 17.30 20.94
Russia na na : 33.50 35.84 41.43 : 73.61 71.69 85.17
Ukraine na na : 20.50 16.02 17.78 : 29.17 25.06 26.98
Sorghum 35.0 64.0 35.0 : na na na
Barley 87.0 87.0 94.0 : na na na
Oats 33.0 38.0 41.0 : na na na : na na na
Rice 29.5 44.9 29.4 : 42.17 43.69 47.25 : 496.08 499.07 494.92

WHEAT:
General Comments: Wheat markets were higher for the week but held the previous weeks range. Much of the price strength came on Friday in a positive reaction to negative USDA reports. Ending stocks estimates released by USDA were above the average trade guess for the US and above all trade guesses for the world. There should have been lower prices, but there were higher prices instead. Ideas are that these are the worst estimates we will see and that the Coronavirus and its effects around the world are starting to pass. This implies that world economic conditions will start to improve if only slowly. The Coronavirus and stay at home orders in many states have created a rush of buying of Wheat products and have caught the mills short bought. They have been very active in buying Wheat in domestic cash markets, especially in the Great Plains, and bases levels moved sharply higher. However, basis levels started to fall again last week. In addition, there was confirmation of restricted exports from Russia as Wheat prices have moved sharply higher as have flour prices in local markets. For now the restrictions imposed do not seem to be onerous, but there are restrictions. It remains dry in most growing areas near the Black Sea. The dry weather pattern continues in these areas and must still be watched.
Overnight News: The southern Great Plains should get dry conditions. Temperatures should be below normal. Northern areas should see a dry week. Temperatures will average below normal. The Canadian Prairies should see mostly dry conditions. Temperatures should trend to below normal. USDA said that China bought 165,000 tons of US HRW Wheat on Friday.
Chart Analysis: Trends in Chicago are mixed. Support is at 554, 545, and 539 May, with resistance at 564, 575, and 583 May. Trends in Kansas City are mixed. Support is at 454, 461, and 448 May, with resistance at 483, 485, and 492 May. Trends in Minneapolis are mixed. Support is at 528, 522, and 520 May, and resistance is at 542, 545, and 552 May.

COT — Supplemental Report – Option and Futures Combined Positions as of April 07, 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 493,604
: Positions :
: 58,188 61,362 170,502 70,811 162,272 160,792 51,190 460,293 445,326: 33,312 48,278
: Changes from: March 31, 2020 (Change in open interest: -874) :
: -4,663 8,709 798 2,979 -5,539 -466 -4,710 -1,353 -742: 479 -132
: Percent of Open Interest Represented by Each Category of Trader :
: 11.8 12.4 34.5 14.3 32.9 32.6 10.4 93.3 90.2: 6.7 9.8
: Total Traders: 351 Number of Traders in Each Category :
: 77 93 108 76 105 49 20 278 268:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of April 07, 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 253,638
: Positions :
: 30,898 47,702 63,100 57,032 107,031 79,546 14,463 230,576 232,295: 23,063 21,343
: Changes from: March 31, 2020 (Change in open interest: 963) :
: 252 213 3,925 1,219 -344 -4,129 -1,753 1,266 2,041: -303 -1,077
: Percent of Open Interest Represented by Each Category of Trader :
: 12.2 18.8 24.9 22.5 42.2 31.4 5.7 90.9 91.6: 9.1 8.4
: Total Traders: 239 Number of Traders in Each Category :
: 45 50 68 69 77 36 13 194 176:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 7, 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 75,634 :
: Positions :
: 45,585 43,061 2,458 0 135 2,835 16,161 2,141 6,714 2,246 2,435 :
: Changes from: March 31, 2020 :
: -3,052 -2,938 178 0 107 -103 -222 844 -384 107 626 :
: Percent of Open Interest Represented by Each Category of Trader :
: 60.3 56.9 3.2 0.0 0.2 3.7 21.4 2.8 8.9 3.0 3.2 :
: Number of Traders in Each Category Total Traders: 92 :
: 47 39 . 0 . 5 10 . 7 5 8 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 7, 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 23,992 :
: Positions :
: 9,906 21,402 58 0 396 10,197 0 359 877 0 1,450 :
: Changes from: March 31, 2020 :
: -1,172 -2,747 -2,083 0 -133 225 0 -2 398 0 50 :
: Percent of Open Interest Represented by Each Category of Trader :
: 41.3 89.2 0.2 0.0 1.7 42.5 0.0 1.5 3.7 0.0 6.0 :
: Number of Traders in Each Category Total Traders: 28 :
: 12 20 . 0 . 4 0 . . 0 . :
—————————————————————————————————————-

RICE
General Comments: Rice was a little lower after a choppy week of trading and as the domestic situation remains tight. Domestic mills and exporters have provided the best demand as both groups seek coverage into the next crop harvest. All indications are that this is getting done and the commercial demand can start to back off for now. Some producers are selling the next crop and some significant hedge selling has been seen in new crop months in futures. Crop conditions are called good to very good in Texas and Louisiana but are more mixed in other states where it has been generally too wet to get much fieldwork done. Demand for US Rice remains generally positive and the export sales pace in general has been very good. Mills and exporters are calling previously bought Rice to keep the market supplied. This is happening mostly in Arkansas as Gulf Coastal areas are mostly sold out of Rice.
Overnight News: The Delta should get showers today. Temperatures should be above normal.
Chart Analysis: Trends are mixed. Support is at 1439, 1407, and 1393 May, with resistance at 1460, 1474, and 1488 May.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 7, 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 13,516 :
: Positions :
: 6,366 9,619 66 0 0 2,472 845 396 874 95 1,036 :
: Changes from: March 31, 2020 :
: -131 385 66 0 0 319 0 0 24 32 69 :
: Percent of Open Interest Represented by Each Category of Trader :
: 47.1 71.2 0.5 0.0 0.0 18.3 6.3 2.9 6.5 0.7 7.7 :
: Number of Traders in Each Category Total Traders: 50 :
: 16 17 . 0 0 12 . . 8 4 8 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn and Oats both made very small gains after trading both sides of unchanged last week. USDA released its monthly supply and demand updates and they were bearish for Corn as both US and world ending stocks were at the high-end of trade expectations. Ideas are that USDA probably is showing the worst of the effects of the Coronavirus and the Saudi-Russian trade war and that things can get better from here on. The trade war between Saudi Arabia and Russia hurt domestic ethanol production and the effects of the Coronavirus remain part of the market. Ethanol demand will not improve in the short-term because people are not driving much due to the Coronavirus. Prices for Crude Oil and also gasoline and heating oil are at extremely low levels and ethanol plants in the US are shutting down or greatly reducing run times. Ethanol stocks are increasing even with the reduced processing due to the lack of driving in the US. That means a lot less Corn demand. The Saudis are using the cheaper price to punish Russia for balking at cutting production a few weeks ago but also to eliminate competition from shale oil producers in the US and Canada as well as bio fuels producers around the world. The loss in ethanol demand inside the US is very large and remains a major problem for all involved in the marketplace.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 328, 326, and 323 May, and resistance is at 335, 339, and 342 May. Trends in Oats are mixed. Support is at 270, 268, and 264 March, and resistance is at 279, 283, and 286 May.

COT — Supplemental Report – Option and Futures Combined Positions as of April 07, 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 1,798,814
: Positions :
: 95,505 261,170 433,421 633,453 748,805 403,637 128,915 1,566,017 1,572,312: 232,797 226,501
: Changes from: March 31, 2020 (Change in open interest: 81,720) :
: -957 15,150 22,761 56,021 40,183 1,080 298 78,905 78,392: 2,816 3,328
: Percent of Open Interest Represented by Each Category of Trader :
: 5.3 14.5 24.1 35.2 41.6 22.4 7.2 87.1 87.4: 12.9 12.6
: Total Traders: 759 Number of Traders in Each Category :
: 107 145 179 361 351 47 26 632 609:
——————————————————————————————————————-

SOYBEANS AND PRODUCTS
General Comments: Soybeans closed higher last week on the rally in Soybean Oil and logistical problems in South America. Soybean Meal closed lower. Soybean Meal has given back all of its rally that started when DDG production dropped in the US. Little or no ethanol production means little or no production of DDG as well, so a potential competitor to Soybean Meal in domestic and world markets has been effectively removed. Logistical problems caused by the Coronavirus in South America also played a major role. Argentina and Brazil are having trouble getting trucks from farms to crusher and exporters. The problems are especially in Argentina, where several towns have moved to block traffic in defiance of federal orders. Exports are not supposed to be affected, but there are signs that transportation inside the countries has become very difficult. USDA showed mixed data in its supply and demand reports that were released on Thursday. US data showed that ending stocks were at the higher end of trade expectations, but world ending stocks were at the lower end of trade expectations.
Overnight News: USDA said that unknown destinations bought 120,000 tons of US Soybeans on Friday.
Chart Analysis: Trends in Soybeans are mixed. Support is at 860, 849, and 838 May, and resistance is at 871, 876, and 892 May. Trends in Soybean Meal are down with no objectives. Support is at 289.00, 286.00, and 283.00 May, and resistance is at 297.00, 300.00, and 305.00 May. Trends in Soybean Oil are up with objectives of 2850 and 3010 May. Support is at 2690, 2620, and 2570 May, with resistance at 2830, 2850, and 2930 May.

COT — Supplemental Report – Option and Futures Combined Positions as of April 07, 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 1,003,031
: Positions :
: 63,929 60,720 281,027 384,090 524,864 198,808 67,896 927,854 934,508: 75,177 68,523
: Changes from: March 31, 2020 (Change in open interest: 44,810) :
: -3,948 1,662 22,709 24,516 21,250 -2,331 -3,316 40,946 42,304: 3,864 2,505
: Percent of Open Interest Represented by Each Category of Trader :
: 6.4 6.1 28.0 38.3 52.3 19.8 6.8 92.5 93.2: 7.5 6.8
: Total Traders: 540 Number of Traders in Each Category :
: 139 105 185 190 185 53 29 475 431:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of April 07, 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 511,947
: Positions :
: 33,128 48,656 120,915 209,032 278,495 114,677 35,834 477,752 483,900: 34,195 28,047
: Changes from: March 31, 2020 (Change in open interest: 11,254) :
: 3,422 -4,689 7,701 -415 7,418 -418 969 10,289 11,399: 965 -145
: Percent of Open Interest Represented by Each Category of Trader :
: 6.5 9.5 23.6 40.8 54.4 22.4 7.0 93.3 94.5: 6.7 5.5
: Total Traders: 307 Number of Traders in Each Category :
: 50 73 90 95 88 38 21 246 233:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of April 07, 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 439,783
: Positions :
: 37,235 27,591 74,896 162,688 286,321 112,896 24,081 387,715 412,889: 52,068 26,894
: Changes from: March 31, 2020 (Change in open interest: 517) :
: -12,469 5,635 9,419 5,655 -15,216 -5,837 -2,602 -3,232 -2,764: 3,749 3,282
: Percent of Open Interest Represented by Each Category of Trader :
: 8.5 6.3 17.0 37.0 65.1 25.7 5.5 88.2 93.9: 11.8 6.1
: Total Traders: 249 Number of Traders in Each Category :
: 54 46 72 89 83 37 11 222 177:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Canola was a little higher on a weaker Canadian Dollar. Trends are mixed on the daily charts. Palm Oil was higher. Production is dropping. Workers are not in the fields or the processors due to the Coronavirus but buyers are not buying as import have been locked down in many cases.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 459.00, 457.00, and 451.00 May, with resistance at 466.00, 470.00, and 473.00 May. Trends in Palm Oil are mixed. Support is at 2330, 2280, and 2220 June, with resistance at 2400, 2460, and 2490 June.

DJ Malaysia’s March Palm Oil Exports 1.18M Tons; Up 9.2% -MPOB
Malaysia’s palm oil exports were up 9.2% on month at 1.18 million metric tons in March, the Malaysian Palm Oil Board said.
The following are details of the March crop data and revised numbers for February, issued by MPOB:
March February Change
On Month
Crude Palm Oil Output 1,397,313 1,288,515 Up 8.44%
Palm Oil Exports 1,181,422 1,082,345 Up 9.15%
Palm Kernel Oil Exports 77,481 73,898 Up 4.85%
Palm Oil Imports 75,258 66,735 Up 12.77%
Closing Stocks 1,728,581 1,700,257 Up 1.67%
Crude Palm Oil 829,524 851,427 Dn 2.57%
Processed Palm Oil 899,057 848,830 Up 5.92%

DJ Canadian Grain Handling Summary – Apr 9
WINNIPEG–The following are Canadian grain handling summary
statistics for the week ended April 5, 2020. Figures in thousands of
metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This Week 3143.2 767.2 327.7 420.8 51.4 1275.2 454.5 95.3 7084.3
Week Ago 3096.5 738.4 368.5 389.8 47.2 1346.4 404.7 95.2 7063.4
Year Ago 3046.5 934.2 238.0 305.4 59.3 1125.2 388.7 457.0 7313.4
PRODUCER DELIVERIES
This Week 461.9 156.7 41.0 73.4 9.1 336.1 90.5 5.9 1234.2
Week Ago 523.9 133.9 49.1 72.7 4.0 378.6 82.9 7.4 1320.2
To Date 14488.5 3437.3 2036.8 2810.7 213.3 13711.3 2888.7 263.8 42475.9
Year Ago 14792.1 2943.6 1568.3 2616.6 254.9 12493.8 2383.9 387.4 40317.8
TERMINAL RECEIPTS
This Week 490.5 139.0 3.9 17.3 0.2 219.6 54.1 1.2 969.4
Week Ago 344.8 99.0 0.3 2.9 0.0 235.2 56.6 1.0 791.4
To Date 11987.9 3807.7 343.4 1392.6 72.6 7278.1 1717.1 133.1 30823.7
Year Ago 13399.5 2719.9 302.1 1623.3 80.6 6788.8 1294.7 886.2 32470.7
EXPORTS
This Week 467.2 84.6 46.6 0.5 0.8 272.7 23.9 0.0 921.5
Week Ago 352.1 37.2 19.5 0.9 0.9 150.2 55.5 0.0 642.6
To Date 10516.0 3278.3 1169.7 1444.7 103.9 6589.5 1690.4 12.5 27993.0
Year Ago 12080.6 2499.1 1069.4 1747.9 161.0 6398.9 1337.2 936.2 30100.0
DOMESTIC DISAPPEARANCE
This Week 88.4 7.2 12.8 33.5 2.7 168.3 4.0 7.9 364.3
Week Ago 93.7 13.7 16.5 34.1 0.9 206.3 3.1 8.7 402.3
To Date 2751.6 255.6 483.4 1109.6 34.5 7025.6 155.9 417.3 13387.7
Year Ago 2666.7 224.0 201.7 754.7 39.8 6188.1 143.2 788.8 12728.6
*Totals include data from other crops not shown including rye, soybeans,
canary seed, mustard seed, beans, lentils and chickpeas.
Source: Commodity News Service Canada (news@marketsfarm.com, or 204-414-
9084)

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 7, 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 185,492 :
: Positions :
: 152,009 109,654 2,428 618 1,688 1,476 39,290 8,682 2,949 8,550 15,247 :
: Changes from: March 31, 2020 :
: -2,357 20 -89 9 257 558 -1,242 1,624 -393 -783 -553 :
: Percent of Open Interest Represented by Each Category of Trader :
: 81.9 59.1 1.3 0.3 0.9 0.8 21.2 4.7 1.6 4.6 8.2 :
: Number of Traders in Each Category Total Traders: 202 :
: 31 51 . 5 . 9 45 9 28 47 18 :
—————————————————————————————————————-

Midwest Weather Forecast: Showers early and late this week. Temperatures should average above normal through Wednesday, then near to below normal.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
April
+53 May
+145 May
+55 May
+58 May
+12 May
N/A
May
+51 May
+55 May
+58 May

June
+50 July
+55 July
+59 July

DJ ICE Canada Cash Grain Close – Apr 9
WINNIPEG, April 9 (MarketsFarm) – The following are the closing
cash canola prices from ICE Futures. Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 432.30 -30.00 May 2020 up 1.80
Basis: Thunder Bay 473.60 10.00 May 2020 up 1.30
Basis: Vancouver 485.60 22.00 May 2020 up 1.30
All prices in Canadian dollars per metric ton.

DJ Malaysian PM Cash Market Prices for Palm Oil – April 13
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
Apr 580.00 -12.50 Unquoted – –
May 572.50 -12.50 Unquoted – –
Jun 557.50 -10.00 Unquoted – –
Jul/Aug/Sep 540.00 -07.50 Unquoted – –
Oct/Nov/Dec 537.50 -07.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Apr 582.50 -12.50 Unquoted – –
May 575.00 -12.50 Unquoted – –
Jun 560.00 -10.00 Unquoted – –
Jul/Aug/Sep 542.50 -07.50 Unquoted – –
Oct/Nov/Dec 540.00 -07.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Apr 612.50 -02.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Apr 565.00 -05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Apr 2,380.00 -50.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Apr 174.00 -03.00 Unquoted – –
($1=MYR4.321)

DJ China Dalian Grain Futures Closing Prices, Volume – Apr 13
Soybean No. 1
Turnover: 231,171 lots, or 10.58 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-20 4,868 4,920 4,834 4,860 4,837 4,865 28 34,435 54,044
Jul-20 4,766 4,874 4,721 4,722 4,714 4,781 67 278 438
Sep-20 4,560 4,624 4,498 4,504 4,518 4,537 19 192,534 109,646
Nov-20 4,230 4,230 4,129 4,129 4,143 4,156 13 15 351
Jan-21 4,067 4,122 4,031 4,049 4,053 4,057 4 3,905 22,595
Mar-21 4,084 4,102 4,031 4,031 4,070 4,076 6 4 33
Corn
Turnover: 343,271 lots, or 7.01 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-20 1,987 1,993 1,986 1,993 1,984 1,989 5 29,662 196,567
Jul-20 2,022 2,027 2,019 2,025 2,018 2,023 5 7,207 53,369
Sep-20 2,044 2,050 2,040 2,044 2,040 2,045 5 292,850 811,910
Nov-20 2,058 2,063 2,055 2,060 2,056 2,059 3 3,029 7,212
Jan-21 2,072 2,079 2,071 2,073 2,072 2,074 2 8,529 79,617
Mar-21 2,086 2,093 2,084 2,086 2,086 2,087 1 1,994 1,461
Soymeal
Turnover: 1,207,303 lots, or 34.05 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-20 2,811 2,822 2,771 2,775 2,806 2,793 -13 142,071 280,420
Jul-20 2,799 2,802 2,751 2,755 2,783 2,778 -5 42,988 95,525
Aug-20 2,826 2,835 2,782 2,788 2,815 2,810 -5 13,296 8,703
Sep-20 2,836 2,851 2,800 2,804 2,833 2,824 -9 960,292 1,785,608
Nov-20 2,863 2,874 2,826 2,828 2,856 2,851 -5 7,352 7,480
Dec-20 2,850 2,850 2,835 2,846 2,871 2,845 -26 6 313
Jan-21 2,875 2,875 2,820 2,822 2,851 2,847 -4 41,203 196,424
Mar-21 2,830 2,832 2,794 2,794 2,824 2,808 -16 95 514
Palm Oil
Turnover: 918,629 lots, or 43.93 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Apr-20 – – – 4,598 4,598 4,598 0 0 0
May-20 4,950 4,974 4,850 4,850 4,956 4,924 -32 157,284 69,377
Jun-20 4,946 5,006 4,946 5,006 5,062 4,976 -86 2 10
Jul-20 4,916 5,010 4,916 5,010 5,030 4,962 -68 2 11
Aug-20 4,530 4,954 4,530 4,830 4,864 4,734 -130 820 7
Sep-20 4,798 4,812 4,690 4,692 4,780 4,750 -30 752,112 293,054
Oct-20 4,844 4,844 4,844 4,844 4,850 4,844 -6 1 12
Nov-20 4,878 4,878 4,702 4,702 4,874 4,790 -84 2 7
Dec-20 – – – 4,786 4,868 4,786 -82 0 157
Jan-21 4,848 4,868 4,770 4,778 4,832 4,810 -22 8,385 27,812
Feb-21 4,916 4,926 4,912 4,914 4,840 4,918 78 9 12
Mar-21 5,010 5,024 4,988 4,988 4,954 5,008 54 12 18
Soybean Oil
Turnover: 377,169 lots, or 21.18 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-20 5,700 5,746 5,684 5,700 5,672 5,716 44 53,005 84,426
Jul-20 5,692 5,736 5,670 5,682 5,704 5,692 -12 10 9
Aug-20 5,570 5,570 5,570 5,570 5,622 5,570 -52 1 2
Sep-20 5,618 5,652 5,554 5,564 5,612 5,596 -16 312,309 425,182
Nov-20 5,724 5,724 5,640 5,640 5,702 5,694 -8 8 422
Dec-20 5,728 5,762 5,622 5,712 5,762 5,722 -40 22 23
Jan-21 5,684 5,728 5,628 5,640 5,694 5,672 -22 11,808 43,429
Mar-21 5,736 5,736 5,688 5,688 5,754 5,708 -46 6 9
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