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 – May 12
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL May May. 13, 2020 9 Apr 28, 2020
SOYBEAN OIL May May. 13, 2020 44 May 06, 2020
ROUGH RICE May May. 13, 2020 4 Apr 28, 2020
KC HRW WHEAT May May. 13, 2020 8 Apr 30, 2020
SOYBEAN May May. 13, 2020 12 Apr 30, 2020
WHEAT May May. 13, 2020 2 Apr 30, 2020

DJ Brazil Cuts 2019-2020 Soybean Estimate to 120.3M Tons, Raises Corn Forecast
By Jeffrey T. Lewis
SAO PAULO–Brazilian crop agency Conab cut its estimate for soybean production for the 2019-2020 growing season as productivity declined amid dry weather in some of the country’s southern states.
Brazilian farmers produced 120.3 million metric tons of soybeans for this season, still a record for the country, as harvesting work came to an end. In April, the agency estimated a crop of 122.1 million tons. Brazil produced 115 million tons of soybeans in 2018-2019, after setting the previous record of 119.3 million tons in 2017-2018.
The state of Rio Grande do Sul, and to a lesser extent Santa Catarina, were hit by dry weather that reduced output. Those declines were outweighed by record production in Mato Grosso, Parana, Goias and other states, Conab said.
Brazil’s corn production is forecast to rise from a year ago, to 102.3 million tons from the record of 100.04 million tons in 2018-2019. In April, Conab had forecast a crop of 101.9 million tons.
Brazil’s corn crop has been growing as cattle ranchers increasingly use feedlots to feed their animals instead of pastures, and as production of ethanol made with corn increases.
Brazil’s mild winters allow it to produce corn year round, with Conab considering the country to have three crops, in the summer, in the winter and in the country’s northern and northeastern states.
The summer crop had some productivity problems because of the dry weather in the south, Conab said. Planting for the winter crop has finished, and rain is needed this month to help a big part of the corn develop properly, according to the agency.

DJ USDA Grain Inspections for Export in Metric Tons – May 11
COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.
INFORMATION CONTAINED IN THIS REPORT REFLECTS EXPORTED GRAIN INSPECTED AND
WEIGHED THROUGH THE AUTHORITY UNDER THE U.S. GRAIN STANDARDS ACT.
NO ADDITIONAL ANALYSIS, COMPILATIONS OR DATA IS AVAILABLE.
GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT
REPORTED IN WEEK ENDING MAY 07, 2020
— METRIC TONS —
————————————————————————-
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 05/07/2020 04/30/2020 05/09/2019 TO DATE TO DATE
BARLEY 0 0 685 30,548 9,866
CORN 1,334,686 1,348,690 1,000,834 25,012,035 36,633,297
FLAXSEED 0 0 0 520 462
MIXED 0 0 0 0 0
OATS 0 0 200 3,343 2,992
RYE 0 0 0 0 0
SORGHUM 76,545 198,359 94,944 2,724,083 1,302,922
SOYBEANS 496,498 380,981 546,866 34,361,731 32,689,164
SUNFLOWER 0 0 0 0 0
WHEAT 340,310 588,193 878,519 23,436,677 22,830,132
Total 2,248,039 2,516,223 2,522,048 85,568,937 93,468,835
————————————————————————-
CROP MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND
FLAXSEED; SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.
INCLUDES WATERWAY SHIPMENTS TO CANADA.

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

Crop Progress
Date 10-May 3-May 2019 Avg
Cotton Planted 32 18 24 27
Corn Planted 67 51 28 56
Corn Emerged 24 8 9 22
Soybeans Planted 38 23 8 23
Soybeans Emerged 7 1 4
Sorghum Planted 28 22 23 30
Rice Planted 70 49 53 75
Rice Emerged 43 32 40 57
Peanuts Planted 27 14 35 32
Sugarbeets Planted 60 49 54 82
Oats Planted 78 67 59 78
Oats Emerged
55 44 41 53
Winter Wheat Headed 44 32 38 50
Spring Wheat Planted 42 29 38 63
Spring Wheat Emerged 16 6 8 29
Barley Planted 60 41 53 68
Barley Emerged 24 12 21 37

Crop Condition
Very Poor Poor Fair Good Excellent
Winter Wheat This Week 5 11 31 45 8
Winter Wheat Last Week 4 10 31 48 7
Winter Wheat Last Year 2 6 28 49 15

Oats This Week 1 2 28 59 10
Oats Last Week
Oats Last Year

Pastures and Ranges This Week 5 11 36 42 6
Pastures and Ranges Last Week 6 10 35 43 6
Pastures and Ranges Last Year 1 6 30 52 11

WHEAT:
General Comments: Wheat markets were a little lower. Improving weather around the world and here at home was the big reason to see some selling hit the markets. The Midwest froze over the weekend but reports from the country indicate that there was little damage noted so far. Temperatures will moderate this week. 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 got some very beneficial rains last weekend. The rains in Russia have come at a time when the crop most needs them, but the rain is only hitting central and northern areas and is leaving southern areas a little dry. The US Midwest has also seen a lot of rain and a bumper SRW crop is expected even with the recent freeze. Reduced production ideas are floated for HRW areas. It has been hot and dry in central and southern areas after a freeze a couple of weeks ago. The crop suffered Winterkill first and now is suffering under the hot and dry weather. 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. Cold weather was also reported in these areas over the weekend and some losses are possible.
Overnight News: The southern Great Plains should get scattered showers over the middle of the week. Temperatures should be below normal. Northern areas should see scattered showers over the middle of the week. Temperatures will average below normal. The Canadian Prairies should see scattered showers over the middle of the week, otherwise mostly dry conditions. Temperatures should average below normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 512, 506, and 494 July, with resistance at 528, 535, and 540 July. Trends in Kansas City are mixed. Support is at 473, 470, and 468 July, with resistance at 486, 489, and 496 July. Trends in Minneapolis are mixed to up with objectives of 531 and 545 July. Support is at 510, 505, and 502 July, and resistance is at 524, 526, and 534 July.

RICE
General Comments: Rice was mixed, with old crop months higher and new crop months mostly slightly lower. The domestic situation remains tight for the old crop months. 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. Arkansas has been cool and wet for planting. Planting should be active again this week in the state 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. Demand for US Rice remains generally positive and the export sales pace in general has been very good. The weekly crop progress reports showed that southern Rice is emerging well. Some Rice in Texas and Louisiana is in flood.
Overnight News: The Delta should get mostly dry conditions Temperatures should be generally below normal.
Chart Analysis: Trends are up with objectives of 1588 July. Support is at 1505, 1498, and 1438 July, with resistance at 1550, 1562, and 1572 July.

CORN AND OATS
General Comments: Corn was near unchanged in lifeless trading. There were no new reports of new Chinese demand and freezing temperatures over the weekend did little actual damage to plants . It is possible that futures have seen at least a short term low. China bought well over 600,000 tons of US Corn last week to give the market a demand boost when it really needed it. The main fundamental remains demand destruction caused by the lack of ethanol demand and the lack of feed demand. 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. 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. Driving will be significantly less either way. 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, and the plants are opening again with reduced staffs and more spread out lines. Cattle and hog producers are seeing much less demand for their production and that has affected feed demand.
Overnight News:
Chart Analysis: Trends in Corn are mixed to up with objectives of 323 and 346 July. 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 299, 295, and 289 July, and resistance is at 306, 309, and 312 July.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and products closed mixed with Soybeans a little higher and Soybean Meal and Soybean Oil a little lower. Soybeans found support on talk once again of some significant purchases from China. Ide as are that China bought at least 300,000 tons of Soybeans and possibly more. The news buoyed a market in search of demand. 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. However, basis levels are increasing at Brazil ports now as the country is starting to run out of Soybeans to export. The Midwest weekend was very cold with freezing temperatures for many areas. Some Soybeans might need to be replanted this week. It is turning warmer this week so what damage was done over the weekend will be all the damage for now.
Overnight News: USDA said that China bought 136,000 tons of US Soybeans.
Chart Analysis: Trends in Soybeans are mixed to up with objectives of 808 July. Support is at 842, 832, and 830 July, and resistance is at 861, 868, and 877 July. Trends in Soybean Meal are mixed. Support is at 288.00, 286.00, and 283.00 July, and resistance is at 294.00, 296.00, and 298.00 July. Trends in Soybean Oil are mixed. Support is at 2600, 2560, and 2520 July, with resistance at 2700, 2860, and 2910 July.

CANOLA AND PALM OIL
General Comments Palm Oil closed a little lower on higher than expected monthly ending stocks data for April from MPOB. Stocks were over 2.0 million tons and well above the March data. Traders had expected stocks levels to be less than March. Meanwhile, Canola has found support from the recent recovery in Soybeans along with a weaker Canadian Dollar. It snowed in parts of Manitoba and Saskatchewan and farmers could not plant. It ddid not get really cold enough to damage any of the already planted crops. Canola is more of a food oil than the others, although it also has bio fuels uses. China has recently allowed Canadian Canola imports to resume, so demand could soon improve. Weekly chart trends have turned up in this market.
Overnight News:
Chart Analysis: Trends in Canola are up with objectives of 475.00 July. Support is at 465.00, 462.00, and 459.00 July, with resistance at 474.00, 478.00, and 482.00 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 2100, 2120, and 2180 July.

DJ Malaysia’s April Palm Oil Exports M Tons; -MPOB
Malaysia’s palm oil exports were on month at million metric tons in April, the Malaysian Palm Oil Board said.
The following are details of the April crop data and revised numbers for March, issued by MPOB:
April March Change
On Month
Palm Kernel Oil Exports 84,118 77,481 Up 8.57%
Closing Stocks 2,045,377 1,729,580 Up 18.26%
Processed Palm Oil 999,744 899,931 Up 11.09%

Midwest Weather Forecast: Mostly dry early this week but big rains possible on Thursday. Temperatures should average near to below normal.

US Gulf Cash Basis
Corn HRW SRW Soybeans
Soybean Meal Soybean Oil
May
+44 May
+132 May
+55 May
+53 July
+12 July
N/A
June
+44 July
+49 July
+53 July

July
+44 July
+49 July
+58 July

DJ ICE Canada Cash Grain Close – May 11
By MarketsFarm
WINNIPEG, May 11 (MarketsFarm) – The following are the closing cash
canola prices from ICE Futures.
Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 455.60 -13.00 Jul 2020 up 1.40
Basis: Thunder Bay 481.30 10.00 Jul 2020 up 2.70
Basis: Vancouver 496.30 18.00 Jul 2020 up 2.70
All prices in Canadian dollars per metric tonne.
*Quote for previous day

DJ Malaysian PM Cash Market Prices for Palm Oil – May 12
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Tuesday, 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 517.50 -05.00 Unquoted – –
Jun 510.00 -05.00 Unquoted – –
Jul/Aug/Sep 497.50 -05.00 Unquoted – –
Oct/Nov/Dec 510.00 -02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
May 520.00 -05.00 Unquoted – –
Jun 512.50 -05.00 Unquoted – –
Jul/Aug/Sep 500.00 -05.00 Unquoted – –
Oct/Nov/Dec 512.50 -02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
May 525.00 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
May 500.00 -02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 2,080.00 -10.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 156.00 00.00 Unquoted – –
($1=MYR4.326)

DJ China Dalian Grain Futures Closing Prices, Volume – May 12
Soybean No. 1
Turnover: 151,801 lots, or 6.89 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-20 5,000 5,400 5,000 5,339 5,335 5,206 -129 1,174 1,119
Jul-20 5,019 5,066 5,019 5,057 5,036 5,045 9 238 1,618
Sep-20 4,535 4,559 4,515 4,549 4,547 4,543 -4 146,489 128,850
Nov-20 4,126 4,136 4,112 4,112 4,129 4,118 -11 6 523
Jan-21 4,087 4,087 4,054 4,059 4,061 4,066 5 3,894 17,301
Mar-21 – – – 4,087 4,087 4,087 0 0 38
Corn
Turnover: 371,484 lots, or 7.62 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-20 2,020 2,020 2,006 2,018 2,006 2,014 8 3 8,135
Jul-20 2,020 2,026 2,014 2,018 2,029 2,020 -9 8,596 50,048
Sep-20 2,048 2,053 2,040 2,045 2,055 2,046 -9 310,070 822,629
Nov-20 2,065 2,069 2,057 2,064 2,069 2,063 -6 3,654 3,345
Jan-21 2,081 2,084 2,071 2,081 2,086 2,079 -7 47,056 148,919
Mar-21 2,091 2,096 2,085 2,094 2,098 2,091 -7 2,105 1,802
Soymeal
Turnover: 1,005,819 lots, or 27.50 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-20 2,654 2,654 2,629 2,629 2,694 2,648 -46 30 1,001
Jul-20 2,632 2,636 2,587 2,607 2,647 2,605 -42 56,597 79,445
Aug-20 2,739 2,739 2,703 2,719 2,742 2,715 -27 15,121 12,305
Sep-20 2,740 2,747 2,718 2,738 2,755 2,733 -22 808,196 1,754,645
Nov-20 2,775 2,780 2,756 2,772 2,791 2,769 -22 5,816 12,992
Dec-20 2,806 2,816 2,804 2,804 2,828 2,808 -20 19 355
Jan-21 2,810 2,813 2,790 2,807 2,824 2,802 -22 119,621 395,922
Mar-21 2,768 2,769 2,743 2,760 2,782 2,757 -25 419 1,368
Palm Oil
Turnover: 842,008 lots, or 36.83 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-20 4,530 4,530 4,390 4,390 4,530 4,406 -124 19 6,188
Jun-20 4,428 4,510 4,366 4,510 4,506 4,432 -74 4 9
Jul-20 4,752 4,752 4,656 4,656 4,720 4,690 -30 11 27
Aug-20 4,570 4,570 4,440 4,440 4,458 4,504 46 2 6
Sep-20 4,418 4,432 4,302 4,338 4,428 4,364 -64 796,863 446,435
Oct-20 4,364 4,382 4,310 4,320 4,398 4,330 -68 31 338
Nov-20 4,394 4,394 4,344 4,380 4,430 4,376 -54 5 194
Dec-20 4,392 4,416 4,392 4,400 4,510 4,406 -104 4 275
Jan-21 4,592 4,598 4,486 4,506 4,600 4,534 -66 45,053 97,106
Feb-21 4,682 4,710 4,498 4,680 4,610 4,626 16 14 20
Mar-21 4,706 4,706 4,702 4,702 4,782 4,704 -78 2 18
Apr-21 – – – 4,696 4,696 4,696 0 0 3
Soybean Oil
Turnover: 320,656 lots, or 17.15 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-20 5,428 5,428 5,412 5,412 5,410 5,426 16 102 5,787
Jul-20 – – – 5,424 5,410 5,424 14 0 5
Aug-20 – – – 5,440 5,440 5,440 0 0 4
Sep-20 5,370 5,382 5,310 5,320 5,392 5,338 -54 288,554 450,677
Nov-20 5,388 5,442 5,388 5,410 5,454 5,410 -44 15 417
Dec-20 5,492 5,492 5,454 5,454 5,532 5,480 -52 4 35
Jan-21 5,478 5,488 5,420 5,426 5,490 5,452 -38 31,978 95,324
Mar-21 5,538 5,538 5,502 5,502 5,572 5,514 -58 3 30
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