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

WHEAT:
General Comments: Wheat markets were a little higher in sympathy with the rallies in Corn and Soybeans and despite on improving conditions for Winter Wheat growth here at home and around the world. Soft Red Winter trends are trying to turn up but Hard Red Winter and Spring markets remain in sideways trends right now. The weather in the Great Plains has been less than favorable but could be starting to get better. It was cold and part of the crop froze, then it turned warm and dry. Some showers are possible in the region and somewhat cooler temperatures are in the forecast longer term. The big negative for the market is still better weather for Europe and Russia. Europe has been getting some rains after a prolonged dry spell and Russia is likely to get some very beneficial rains this week. The rains in Russia would come at a time when the crop most needs them. The forecasts call for big rains that would really help the crops in most areas, but far southern areas would stay dry. The US Midwest has also seen a lot of rain and a bumper SRW crop is expected. The Great Plains have reduced production ideas for HRW areas. It has been warm and mostly dry in the northern Great Plains and into the Canadian Prairies but the market is less concerned about production potential for Spring Wheat crops. Ideas are that the warmer and drier weather is greatly assisting in the planting progress, but planting progress remains behind the five year average.
Overnight News: The southern Great Plains should get scattered showers on Saturday and Monday. Temperatures should be above normal. Northern areas should see scattered showers on Saturday and Monday Temperatures will average above normal. The Canadian Prairies should see scattered showers on Friday and Sunday, otherwise mostly dry conditions. Temperatures should trend to above normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 522, 512, and 508 July, with resistance at 535, 540, and 542 July. Trends in Kansas City are mixed. Support is at 475, 470, and 468 July, with resistance at 489, 496, and 508 July. Trends in Minneapolis are mixed. Support is at 506, 502, and 497 July, and resistance is at 518, 520, and 526 July.

RICE
General Comments: Rice was higher in old crop months and a little lower in new crop months in limited volume trading. New crop months have reflected ideas of greatly increased planted area from producers. Some producers are selling the next crop and some significant hedge selling has been seen in new crop months in futures but this has dried up as Arkansas has been cool and wet for planting. Planting should be active this week despite some rains in the south yesterday and northern sections of the state are reported to be planted already. Mississippi has also had problems planting the crop due to too much rain and remains slow. 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. The weekly crop progress reports showed that southern Rice is emerging well. Some Texas and Louisiana Rice is now in flood.
Overnight News: The Delta should get mostly dry conditions Temperatures should be generally below normal.
Chart Analysis: Trends are mixed. Support is at 1478, 1460, and 1450 July, with resistance at 1548, 1562, and 1572 July.

DJ Global Rice Prices Rise 7% to Highest Level Since 2011, FAO Says — Market Talk
0224 GMT – Global rice prices rose 7% in April to levels not seen since December 2011 as per the All Rice Price Index, The Food and Agriculture Organization says. Asian markets were still reeling from the sudden surge in domestic demand spurred by concerns over the Covid-19 pandemic, when Vietnam suspended new export contracts in late March, Cambodia banned Indica and paddy exports and Myanmar temporarily halted issuance of new export licenses, it says. Logistical constraints linked to quarantine measures, particularly in India, compounded by the uncertain export policy environment are driving prices up across most Asian origins and qualities, it says. (lucy.craymer@wsj.com)

CORN AND OATS
General Comments: Corn was higher on news that China bought more than 600,000 tons of US Corn. The market hopes for more large purchases as China restocks its grain reserves. The lack of domestic demand took a back seat to the China news yesterday but remains an important factor. The demand destruction caused by the lack of ethanol demand and the lack of feed demand is still around. Both have been detrimentally affected by the Coronavirus. The virus has caused states to impose stay at home orders on its people, meaning no one is driving and consuming gas. These orders are starting to be lifted now and more people are starting to drive. Russia and Saudi Arabia have said that world Crude Oil production would be 10 million barrels a day less did little for the market as consumption is even less. Some states are starting to open now in the US but it is unclear if the people will move out and enjoy life as before. The experience in other countries suggests that the people will be very cautious in any activities and really not go out and spend money or hit the stores as before. Ethanol demand improved in the EIA data this week but processor profitability is still negative. Driving will be significantly less either way although it will be improved. Feed demand has been reduced as packers have been forced to shut plants down due to infected employees in the plants. President Trump signed an order forcing the plants to reopen with protections from lawsuits and with protections for employees, but it is unclear if the employees will go back to work at this time. Wholesale beef and pork prices are up sharply, but cattle and hog producers are seeing very cheap prices and hog producers and poultry producers are liquidating herds. The Corn demand has been significantly reduced. The prospect of a renewed trade war with China over Coronavirus concerns also was negative. President Trump has threatened to place tariffs on Chinese goods again on ideas that the virus started in a Chinese lab and the seriousness of the epidemic was underplayed by Chinese government.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 312, 308, and 301 July, and resistance is at 322, 327, and 332 July. Trends in Oats are up with objectives of 303 and 311 July. Support is at 295, 289, and 285 July, and resistance is at 302, 306, and 309 July.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and products closed higher on talk that China had purchased another five or six cargoes of Soybeans to complement purchases made earlier in the week. The demand has been slow otherwise with the significant competition from Brazil. The Real has weakened a lot against the US Dollar and Brazil producers can sell at very high prices in the local currency. Meanwhile, Soybean Meal demand has been supported by logistical issues in Argentina. The Parana River has been very low and ships are not able to load the full amount of Soybeans or products. Demand has shifted to the US and also to Brazil. Improving rains in southern Brazil and northern Argentina offer hope for improved logistics in the very near term. The export meal demand has helped keep the US crush very strong. Domestic meal demand has suffered along with the demand for Corn due to reduced feed demand caused by the Coronavirus and the problems it has caused feed operations. The prospect of a renewed trade war with China over Coronavirus concerns also was negative. President Trump has threatened to place tariffs on Chinese goods again on ideas that the virus started in a Chinese lab instead of in the open air market and the seriousness of the epidemic was underplayed by the Chinese.
Overnight News: Unknown destinations bought 120,000 tons of US Soybeans.
Chart Analysis: Trends in Soybeans are mixed. Support is at 842, 832, and 830 July, and resistance is at 857, 861, and 868 July. Trends in Soybean Meal are mixed. Support is at 286.00, 283.00, and 280.00 July, and resistance is at 292.00, 296.00, and 298.00 July. Trends in Soybean Oil are mixed. Support is at 2560, 2510, and 2480 July, with resistance at 2670, 2820, and 2910 July.

CANOLA AND PALM OIL
General Comments: Palm Oil was higher and Canola was a little higher. Palm Oil was higher on a weaker Ringgit and improved regional equities markets. Palm Oil was hurt by the lack of bio fuels demand, but the demand loss appears to be part of the market price now. The same factors affecting ethanol demand are affecting demand for other bio fuels. People are driving less due to the Coronavirus and even reduced Crude Oil production has not been enough to lift prices to profitable levels for bio fuels producers. Palm Oil had found some support from reduced production potential in Southeast Asia as workers are affected by the Coronavirus. However, the threat of a renewed trade war between the US and China hurt demand ideas. Canola was firm on the weaker Canadian Dollar. Buying came ahead of the release of planting intentions in the Prairies.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 462.00, 459.00, and 455.00 July, with resistance at 468.00, 471.00, and 474.00 July. Trends in Palm Oil are mixed to down with objectives of 1970 and 1710 July. Support is at 1940, 1910, and 1880 July, with resistance at 2010, 2100, and 2120 July.

DJ Canadian Grain Handling Summary – May 7
WINNIPEG–The following are Canadian grain handling summary
statistics for the week ended May 3, 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 3087.6 704.7 256.6 439.2 75.4 1230.3 396.5 120.2 6920.7
Week Ago 3218.7 814.8 284.5 448.7 71.6 1132.0 372.3 109.4 7058.1
Year Ago 2828.4 633.7 204.2 284.9 75.0 1093.2 339.4 445.5 6634.2
PRODUCER DELIVERIES
This Week 408.8 66.8 34.4 73.3 19.1 398.4 82.4 5.1 1165.5
Week Ago 509.1 122.6 39.8 88.3 15.6 335.6 71.8 2.8 1306.1
To Date 16360.2 3891.2 2077.2 3141.8 270.4 15251.6 3192.8 278.4 47491.5
Year Ago 16433.6 3394.4 1731.0 2839.9 305.8 13803.7 2629.4 445.6 44686.2
TERMINAL RECEIPTS
This Week 479.2 235.3 0.0 44.1 5.4 181.3 90.0 19.1 1161.3
Week Ago 484.9 171.7 19.7 10.5 7.9 310.3 85.9 16.7 1176.8
To Date 13964.2 4607.7 384.7 1531.9 85.9 8278.8 1995.5 190.0 35369.8
Year Ago 15175.8 3606.5 318.1 1758.5 92.7 7467.6 1496.7 1013.2 36434.8
EXPORTS
This Week 295.1 180.7 42.1 1.2 1.0 173.0 57.2 10.8 847.1
Week Ago 307.0 189.5 45.9 12.5 2.8 283.7 138.8 8.4 997.1
To Date 11885.1 3812.7 1339.0 1550.4 113.5 7526.2 1983.5 31.7 31556.6
Year Ago 13507.2 3173.4 1220.3 1894.4 170.1 7021.0 1513.9 1128.6 33532.5
DOMESTIC DISAPPEARANCE
This Week 119.8 12.9 19.1 24.4 1.5 187.5 6.0 9.7 429.3
Week Ago 50.8 15.5 18.9 41.4 0.8 182.5 3.5 12.5 355.9
To Date 3100.4 301.6 556.3 1242.0 38.3 7861.9 172.7 448.1 15007.6
Year Ago 2966.4 262.3 225.7 860.0 44.1 6979.5 164.3 863.7 14135.9
*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: Mostly dry. Temperatures should average near to below normal.

US Gulf Cash Basis
Corn HRW SRW Soybeans
Soybean Meal Soybean Oil
May
+43 May
+142 May
+53 May
+53 July
+12 July
N/A
June
+44 July
+49 July
+55 July

July
+44 July
+49 July
+56 July

DJ ICE Canada Cash Grain Close – May 7
WINNIPEG, May 7 (MarketsFarm) – The following are the closing
cash canola prices from ICE Futures. Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 452.40 -13.00 June 2020 up 1.10
Basis: Thunder Bay 477.20 10.00 June 2020 up 1.80
Basis: Vancouver 492.20 25.00 June 2020 up 1.80
All prices in Canadian dollars per metric ton.

DJ Malaysian PM Cash Market Prices for Palm Oil – May 8
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
May 522.50 +10.00 Unquoted – –
Jun 515.00 +12.50 Unquoted – –
Jul/Aug/Sep 502.50 +12.50 Unquoted – –
Oct/Nov/Dec 512.50 +12.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
May 525.00 +10.00 Unquoted – –
Jun 517.50 +12.50 Unquoted – –
Jul/Aug/Sep 505.00 +12.50 Unquoted – –
Oct/Nov/Dec 515.00 +12.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
May 530.00 00.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
May 502.50 +02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 2,090.00 +10.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 156.00 +06.00 Unquoted – –
($1=MYR4.3325)

DJ China Dalian Grain Futures Closing Prices, Volume – May 08
Soybean No. 1
Turnover: 147,273 lots, or 6.71 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-20 5,330 5,352 5,298 5,346 5,309 5,343 34 345 1,505
Jul-20 5,028 5,053 5,017 5,049 5,023 5,042 19 177 1,456
Sep-20 4,545 4,587 4,545 4,570 4,565 4,572 7 142,323 132,411
Nov-20 4,111 4,140 4,111 4,128 4,125 4,128 3 33 507
Jan-21 4,048 4,064 4,035 4,059 4,046 4,056 10 4,390 16,914
Mar-21 4,084 4,091 4,080 4,089 4,103 4,086 -17 5 36
Corn
Turnover: 621,103 lots, or 12.82 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-20 2,010 2,010 2,005 2,005 2,008 2,007 -1 940 13,939
Jul-20 2,046 2,048 2,031 2,038 2,054 2,037 -17 11,580 51,280
Sep-20 2,071 2,074 2,055 2,061 2,080 2,062 -18 546,809 861,234
Nov-20 2,085 2,087 2,070 2,078 2,093 2,074 -19 4,286 4,322
Jan-21 2,101 2,104 2,084 2,092 2,110 2,091 -19 55,318 147,686
Mar-21 2,112 2,114 2,096 2,104 2,120 2,103 -17 2,170 1,746
Soymeal
Turnover: 1,298,533 lots, or 35.82 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-20 2,697 2,701 2,686 2,690 2,693 2,691 -2 400 1,464
Jul-20 2,661 2,664 2,639 2,639 2,667 2,650 -17 81,834 84,297
Aug-20 2,753 2,753 2,729 2,732 2,738 2,739 1 14,322 11,316
Sep-20 2,750 2,767 2,745 2,750 2,754 2,753 -1 955,506 1,748,908
Nov-20 2,775 2,799 2,749 2,785 2,786 2,785 -1 12,750 11,754
Dec-20 2,818 2,826 2,811 2,820 2,800 2,820 20 30 338
Jan-21 2,797 2,826 2,793 2,818 2,797 2,813 16 233,396 372,986
Mar-21 2,747 2,781 2,747 2,774 2,756 2,766 10 295 1,020
Palm Oil
Turnover: 871,366 lots, or 38.30 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-20 4,454 4,468 4,454 4,468 4,414 4,464 50 29 6,192
Jun-20 4,530 4,530 4,530 4,530 4,410 4,530 120 1 11
Jul-20 4,644 4,692 4,526 4,646 4,470 4,640 170 33 24
Aug-20 4,526 4,526 4,526 4,526 4,466 4,526 60 1 7
Sep-20 4,368 4,412 4,352 4,378 4,336 4,384 48 817,788 420,822
Oct-20 4,334 4,394 4,332 4,346 4,284 4,356 72 82 339
Nov-20 4,454 4,454 4,376 4,410 4,362 4,400 38 29 196
Dec-20 4,454 4,504 4,424 4,424 4,398 4,472 74 15 276
Jan-21 4,542 4,596 4,536 4,554 4,510 4,564 54 53,373 92,625
Feb-21 – – – 4,610 4,610 4,610 0 0 19
Mar-21 4,744 4,818 4,744 4,766 4,616 4,772 156 10 20
Apr-21 4,718 4,742 4,566 4,742 4,690 4,696 6 5 3
Soybean Oil
Turnover: 345,756 lots, or 18.65 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-20 5,480 5,480 5,480 5,480 5,392 5,480 88 1 7,477
Jul-20 5,480 5,480 5,362 5,362 5,434 5,410 -24 5 5
Aug-20 – – – 5,410 5,410 5,410 0 0 4
Sep-20 5,362 5,418 5,356 5,370 5,348 5,386 38 310,737 424,804
Nov-20 5,484 5,504 5,458 5,462 5,444 5,476 32 10 417
Dec-20 – – – 5,508 5,496 5,508 12 0 31
Jan-21 5,460 5,498 5,442 5,458 5,434 5,468 34 35,003 90,588
Mar-21 – – – 5,466 5,466 5,466 0 0 19
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.

MORNING GRAINS COMMENTS
Jack Scoville

Friday, May 08, 2020

Price Futures Group, CBOT
Chicago, IL
(312) 264-4322
jscoville@pricegroup.com

JSL, SA de CV
San Salvador, El Salvador (503) 2260-7806 jslsadecv@comcast.net

JSL, SA
San José, Costa Rica (506) 2282-7024
jslsa@comcast.net

DJ CBOT Delivery Intentions: Totals – May 8
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN OIL May May. 11, 2020 56 May 05, 2020
ROUGH RICE May May. 11, 2020 50 Apr 28, 2020

DJ U.S. Wheat Production Estimates — Survey
CHICAGO–The following are analysts’ estimates for 2020-21 U.S. wheat production, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated production forecasts at noon on Tuesday.
2020-21 WHEAT PRODUCTION
Average Range USDA 2019-20
All Wheat 1,859 1,773-1,970 1,920
Winter Wheat 1,255 1,200-1,318 1,304
Hard Red Winter 754 678-830 833
Soft Red Winter 271 220-305 239
White Winter 227 202-239 232
All Wheat Winter Wheat Hard-Red Soft-Red White
Advanced Market Concepts 1,850 1,275 780 220 220
Allendale 1,816 1,204 709 284 211
DC Analysis 1,857 1,222 690 300 232
Doane 1,813 1,200 678 297 225
EDF Man 1,829 1,225 788 240 202
Futures International 1,849 1,249 719 305 225
Grain Cycles 1,879 1,244 759 266 219
Hueber Report 1,900 1,290 825 235 230
INTL FCStone 1,854 1,208 680 297 231
Kapco Futures 1,824 N/A N/A N/A N/A
Sid Love Consulting 1,900 1,310 780 300 230
Midland Research 1,845 1,235 740 260 235
Northstar 1,970 1,295 750 300 235
RJ O’Brien 1,873 1,259 730 303 226
Risk Mgmt Commodities 1,960 1,310 830 245 235
US Commodities 1,845 N/A N/A N/A N/A
Vantage RM 1,773 1,216 737 239 239
Western Milling 1,872 1,318 803 285 231
Zaner Ag Hedge 1,805 1,273 812 233 228

DJ U.S. Corn, Soybean Production Estimates — Survey
CHICAGO–The following are analysts’ estimates for 2020 U.S. corn and soybean production in millions of bushels, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release its monthly estimates at noon on Tuesday.
U.S. Corn, Soybean Production (million bushels)
Average Range USDA 2019
Corn Production 15,609 13,622-15,960 13,692
Soybean Production 4,120 3,558-4,292 3,558
Corn Soybean
Production Production
Advanced Market Concepts 13,622 3,558
AgriSource 15,960 4,100
Allendale 15,860 4,111
DC Analysis 15,750 4,183
Doane 15,762 4,220
EDF Man 15,887 4,109
Futures International 15,412 4,129
Grain Cycles 15,797 4,123
Hueber Report 14,805 4,225
INTL FCStone 15,898 4,112
Kapco Futures 15,951 4,119
Sid Love Consulting 15,929 4,118
Midland Research 15,930 4,120
Northstar 15,530 4,135
Prime-Ag 15,308 4,125
Risk Mgmt Commodities 15,885 4,120
US Commodities 15,721 4,262
Vantage RM 15,913 4,118
Western Milling 15,382 4,292
Zaner Ag Hedge 15,874 4,126

DJ U.S. May Grain, Soybean Stockpiles Estimates — Survey
CHICAGO–The following are analysts’ estimates in millions of bushels for U.S. ending stockpiles for 2019-20 and 2020-21, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Tuesday at noon ET.
U.S. 2019-20 Stockpiles (millions)
Average Range USDA April
Corn 2,225 2,092-2,392 2,092
Soybeans 501 450-581 480
Wheat 972 950-995 970
U.S. 2020-21 Stockpiles (millions)
Average Range USDA April
Corn 3,403 2,619-3,900 N/A
Soybeans 452 299-683 N/A
Wheat 821 696-912 N/A
2019-20 2020-21
Corn Soybeans Wheat Corn Soybeans Wheat
Advanced Market Concepts 2,160 450 990 3,115 368 863
AgriSource 2,150 508 970 3,518 358 840
Allendale 2,192 492 950 3,298 517 763
DC Analysis 2,242 491 970 3,252 338 798
Doane 2,370 515 985 3,250 425 780
EDF Man 2,252 480 970 3,900 440 845
Futures International 2,263 497 N/A 2,939 407 N/A
Grain Cycles 2,207 480 970 3,299 423 855
Hueber Report 2,392 505 995 2,619 380 873
INTL FCStone 2,303 581 954 3,696 415 795
Kapco Futures 2,105 475 957 3,581 299 771
Sid Love Consulting 2,092 500 970 3,866 558 850
Midland Research 2,212 490 990 3,457 310 836
Northstar 2,120 480 980 3,650 635 790
Prime-Ag 2,092 480 970 2,950 435 815
RJ O’Brien 2,347 524 973 3,261 386 832
Risk Mgmt Commodities 2,192 505 975 3,450 670 875
US Commodities 2,368 542 950 3,804 562 N/A
Vantage RM 2,109 475 973 3,447 305 696
Western Milling 2,272 549 979 3,604 683 912
Zaner Ag Hedge 2,292 505 970 3,506 580 805

DJ May 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 and 2020-21, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Tuesday at noon ET.
World Stockpiles (million metric tons)
2019-20
Average Range USDA April
Corn 307.5 302.0-325.0 303.2
Soybeans 100.1 97.5-104.0 100.5
Wheat 292.5 288.4-295.0 292.8
2020-21
Average Range USDA April
Corn 324.0 297.0-365.0 N/A
Soybeans 104.0 96.1-115.0 N/A
Wheat 292.8 280.0-305.9 N/A
2019-20 2020-21
Corn Soybeans Wheat Corn Soybeans Wheat
Advanced Market Concepts 306.0 100.5 292.8 325.4 98.8 287.5
Allendale 304.2 100.8 292.9 319.6 96.1 305.9
Doane 310.0 98.0 295.0 305.0 105.0 300.0
EDF Man 325.0 100.0 293.0 336.0 108.0 303.0
Futures International 306.2 97.5 292.5 365.0 115.0 294.0
Grain Cycles 304.0 99.0 293.5 297.0 100.0 297.5
Hueber Report 308.0 100.0 295.0 313.0 102.0 293.0
INTL FCStone 308.4 104.0 291.2 316.8 112.9 290.0
Northstar 305.0 99.0 293.0 335.0 103.5 288.0
US Commodities 308.2 100.2 292.3 N/A N/A N/A
Prime-Ag 302.0 100.0 292.0 330.0 97.0 285.0
Risk Mgmt Commodities 306.5 102.6 288.4 324.0 107.0 280.0
Zaner Ag Hedge 304.4 99.7 291.2 321.4 102.7 289.8

DJ May Brazil, Argentina Corn, Soybean Production Estimates – Survey
CHICAGO–The following are analysts’ estimates in millions of metric tons for Brazil and Argentina corn and soybean production for 2019-20, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release its monthly estimates on Tuesday at noon ET.
2019-20 Brazil Corn, Soybean Production (million metric tons)
Average Range USDA April
Corn 99.2 97.0-101.0 101.0
Soybeans 122.9 120.6-124.0 124.5
Corn Soybeans
Advanced Market Concepts 100.0 123.5
Allendale 101.0 123.0
DC Analysis 98.0 123.0
Doane 99.0 122.5
EDF Man 101.0 124.0
Futures International 100.0 124.0
Hueber Report 100.0 122.5
INTL FCStone 99.9 120.6
Midland Research 97.0 122.3
Northstar 100.0 123.0
Prime Ag 99.0 124.0
Risk Mgmt Commodities 97.5 123.5
US Commodities 99.0 123.5
Western Milling 98.0 121.0
Zaner Ag Hedge 99.0 123.5
2019-20 Argentina Corn, Soybean Production (million metric tons)
Average Range USDA April
Corn 49.5 49.0-50.0 50.0
Soybeans 51.1 50.0-52.0 52.0
Corn Soybeans
Advanced Market Concepts 49.0 51.0
Allendale 50.0 52.0
DC Analysis 50.0 51.0
Doane 50.0 51.0
EDF Man 49.5 52.0
Futures International 50.0 52.0
Hueber Report 49.0 51.0
INTL FCStone 50.0 50.0
Midland Research 49.0 51.0
Northstar 49.0 51.0
Prime Ag 49.0 50.0
Risk Mgmt Commodities 49.5 51.0
US Commodities 49.5 51.5
Western Milling 49.0 50.0
Zaner Ag Hedge 50.0 52.0

Questions? Ask Jack Scoville today at 312-264-4322