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 lower. The Winter Wheat markets hold to bearish trends on the weekly charts and this is especially true for the HRW market. Spring Wheat markets show more mixed trends but the us and Canadian crops are getting planted and are reported to be in mostly good condition. The harvest has started in the central and southern Great Plains with variable yields reported because of freeze damage and then stress from hot and dry weather. It remains dry in the western sections of the Great Plains but this will aid harvest progress now. Better rains are reported in Europe and Russia. Australia remains in good condition. Competition for sales is expected to be tough even with less in the US and Europe as Australia is coming back after years of drought and as Russia has better weather and improved production prospects. The harvest is coming and prices usually start to move lower soon and remain down through the harvest. Any rally at this time might not go very far and the weekly charts point to lower prices for Winter Wheat markets.
Overnight News: The southern Great Plains should get dry conditions. Temperatures should be above normal. Northern areas should see scattered showers. Temperatures will average near to above normal. The Canadian Prairies should see mostly dry conditions. Temperatures should average near normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 507, 501, and 496 July, with resistance at 522, 524, and 529 July. Trends in Kansas City are mixed to up with objectives of 473. 483, and 486 July. Support is at 457, 441, and 439 July, with resistance at 473, 477, and 486 July. Trends in Minneapolis are mixed. Support is at 514, 504, and 502 July, and resistance is at 526, 528, and 530 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 02, 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 516,193
: Positions :
: 61,277 100,335 155,632 87,225 164,259 180,998 51,608 485,133 471,834: 31,061 44,359
: Changes from: May 26, 2020 (Change in open interest: 11,616) :
: 7,218 2,959 3,102 -12,280 1,141 11,135 4,157 9,175 11,360: 2,441 256
: Percent of Open Interest Represented by Each Category of Trader :
: 11.9 19.4 30.1 16.9 31.8 35.1 10.0 94.0 91.4: 6.0 8.6
: Total Traders: 355 Number of Traders in Each Category :
: 76 112 116 70 99 49 27 270 292:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 02, 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 248,242
: Positions :
: 28,367 65,091 55,838 68,630 89,176 74,164 16,736 227,000 226,841: 21,242 21,401
: Changes from: May 26, 2020 (Change in open interest: -2,821) :
: 1,600 -1,161 -3,162 -3,732 -1,273 3,010 1,834 -2,284 -3,762: -537 941
: Percent of Open Interest Represented by Each Category of Trader :
: 11.4 26.2 22.5 27.6 35.9 29.9 6.7 91.4 91.4: 8.6 8.6
: Total Traders: 242 Number of Traders in Each Category :
: 58 54 62 66 75 32 12 189 177:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 2, 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 75,171 :
: Positions :
: 46,810 32,984 2,415 234 353 2,825 24,742 2,450 5,032 1,809 2,791 :
: Changes from: May 26, 2020 :
: -143 939 196 234 11 -142 -1,143 468 815 -306 167 :
: Percent of Open Interest Represented by Each Category of Trader :
: 62.3 43.9 3.2 0.3 0.5 3.8 32.9 3.3 6.7 2.4 3.7 :
: Number of Traders in Each Category Total Traders: 91 :
: 47 32 . . . 5 14 5 12 . 8 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 2, 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 26,457 :
: Positions :
: 10,319 23,489 0 134 667 13,667 0 58 216 260 1,150 :
: Changes from: May 26, 2020 :
: 1,136 -411 -21 34 13 -1,653 0 6 26 -144 -65 :
: Percent of Open Interest Represented by Each Category of Trader :
: 39.0 88.8 0.0 0.5 2.5 51.7 0.0 0.2 0.8 1.0 4.3 :
: Number of Traders in Each Category Total Traders: 31 :
: 13 19 0 . . 6 0 . . . . :
—————————————————————————————————————-

RICE
General Comments: Rice was a little higher in new crop months and much higher in old crop July. However, July collapsed on Friday as the funds initially bought the market and then were forced to sell. They found little buying interest and July spent most of Friday at limit down after trading at or near limit up for the previous three days. The Friday move implies that the dramatic rise in old crop Rice futures has ended. New crop months were a little higher in sympathy with the rally in July and held in the face of the limit down activity in July. The funds were buying the old crop futures on ideas of supply tightness. The combination of good export buying in general and the buying inside the US due to the Coronavirus has made the market short Rice. There are ideas that the mills are well covered into new crop, but little Rice is available from producers. Most of the unsold Rice is in Arkansas. The crops are in very good condition in the south and near the Gulf Coast but planting has been problematic in parts of Mississippi, Arkansas, and Missouri. Ideas are that the long grain will get planted and producers will not plant medium grain if some prevent planting is needed. There are still ideas that the US will have a much bigger crop to harvest this Fall.
Overnight News: The Delta should get scattered showers and storms today from Cristobal. Temperatures should be generally above normal.
Chart Analysis: Trends are mixed. Support is at 2044, 2032, and 2020 July, with resistance at 2068, 2080, and 2092 July.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 2, 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 14,469 :
: Positions :
: 5,855 10,044 78 0 0 1,926 605 254 1,454 127 1,901 :
: Changes from: May 26, 2020 :
: 420 271 18 0 0 -553 -121 -171 238 103 533 :
: Percent of Open Interest Represented by Each Category of Trader :
: 40.5 69.4 0.5 0.0 0.0 13.3 4.2 1.8 10.0 0.9 13.1 :
: Number of Traders in Each Category Total Traders: 55 :
: 17 18 . 0 0 14 . . 12 . 11 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn was higher on what appeared to be fund short covering. There did not appear to be much in the fundamentals to trigger the move, but a seasonal rally is underway with the crops planted and nothing else going on to drive prices lower. This rally can last another week or two as the market waits to see longer range forecasts covering Corn pollination in July. Meats processors are back and are aiming to restore 80% to 85% of capacity kill rates in their plants. The backlog of Cattle and Hogs will slowly disappear under this scenario and meats wholesale and retail prices will fall. This will take some time, but it is starting to come to pass. Ethanol demand is also improving as lockdown orders are lifter in most states and in Europe. Demand for gasoline and ethanol has gotten a little stronger and should continue to improve over time. All this still implies that ending stocks for Corn as projected by USDA can increase, but the increase should not be as great as originally thought. Export demand is becoming more difficult with US prices quoted above those in Argentina and Ukraine. The rally in Oats came to an abrupt end on the release of the employment data in the US. It showed more people are working and less in need of Oatmeal at home, a good sign for the economy but a bad sign for commodities supported by stay at home orders caused by the Coronavirus such as Oats.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 324, 321, and 319 July, and resistance is at 332, 340, and 344 July. Trends in Oats are mixed. Support is at 326, 320, and 315 July, and resistance is at 335, 340, and 350 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 02, 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 1,905,933
: Positions :
: 101,449 416,668 476,510 661,603 663,657 423,826 148,636 1,663,388 1,705,471: 242,545 200,462
: Changes from: May 26, 2020 (Change in open interest: 65,317) :
: 4,225 6,985 34,832 5,159 16,482 13,563 6,813 57,780 65,111: 7,537 205
: Percent of Open Interest Represented by Each Category of Trader :
: 5.3 21.9 25.0 34.7 34.8 22.2 7.8 87.3 89.5: 12.7 10.5
: Total Traders: 779 Number of Traders in Each Category :
: 129 165 182 359 323 50 33 653 608:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 2, 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 5,864 :
: Positions :
: 1,189 3,665 88 0 0 1,347 0 0 791 13 321 :
: Changes from: May 26, 2020 :
: 145 287 4 0 0 321 0 0 -34 -10 34 :
: Percent of Open Interest Represented by Each Category of Trader :
: 20.3 62.5 1.5 0.0 0.0 23.0 0.0 0.0 13.5 0.2 5.5 :
: Number of Traders in Each Category Total Traders: 32 :
: 4 13 . 0 0 10 0 0 6 . . :
—————————————————————————————————————-

SOYBEANS AND PRODUCTS
General Comments: Soybeans were higher improved Chinese demand. The demand came despite the war of words between the US and China. The Chinese moves to clamp down on Hong Kong dissent was going to be a big negative for the market as the political situation between the US and China has deteriorated. China is looking to curb the dissent in Hong Kong over moves to bring the city more under central government control from Beijing. The world has objected and the US has now imposed some additional sanctions on the country. The sanctions were designed to keep trade flowing between the countries so the Chinese kept buying. China has remained a very active buyer in South America even as it has increased Soybeans buying here in the US, so the overall amount taken from the US might not match the hopes of the trade. Brazil prices have been creeping higher for thee rest of the world as it starts to run out of Soybeans to export, so China and the rest of the world will look to the US and Argentina for additional supplies.
Overnight News:
Chart Analysis: Trends in Soybeans are up with objectives of 879, 883, and 889 July. Support is at 861, 852, and 846 July, and resistance is at 873, 877, and 881 July. Trends in Soybean Meal are up with objectives of 292.00 and 298.00 July. Support is at 286.00, 282.00, and 280.00 July, and resistance is at 292.00, 294.00, and 296.00 July. Trends in Soybean Oil are mixed to up with objectives of 2840 and 3020 July. Support is at 2780, 2750, and 2720 July, with resistance at 2840, 2860, and 2960 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 02, 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 1,047,660
: Positions :
: 78,484 97,899 285,321 376,575 537,653 228,382 65,488 968,762 986,361: 78,898 61,299
: Changes from: May 26, 2020 (Change in open interest: 4,961) :
: -2,422 2,933 2,432 -2,624 -2,442 8,946 1,840 6,332 4,763: -1,371 198
: Percent of Open Interest Represented by Each Category of Trader :
: 7.5 9.3 27.2 35.9 51.3 21.8 6.3 92.5 94.1: 7.5 5.9
: Total Traders: 558 Number of Traders in Each Category :
: 150 115 188 189 182 53 30 489 437:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 02, 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 525,264
: Positions :
: 44,906 51,457 132,788 199,001 283,778 111,230 27,111 487,926 495,133: 37,338 30,130
: Changes from: May 26, 2020 (Change in open interest: 6,232) :
: 1,494 -4,424 119 -785 7,774 4,840 1,893 5,667 5,363: 564 869
: Percent of Open Interest Represented by Each Category of Trader :
: 8.5 9.8 25.3 37.9 54.0 21.2 5.2 92.9 94.3: 7.1 5.7
: Total Traders: 325 Number of Traders in Each Category :
: 60 75 98 96 91 40 25 265 246:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 02, 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 503,208
: Positions :
: 39,567 78,518 87,140 209,178 263,802 111,783 41,460 447,668 470,920: 55,540 32,288
: Changes from: May 26, 2020 (Change in open interest: 7,748) :
: 1,072 6,307 310 2,731 -7,264 3,381 7,256 7,495 6,608: 253 1,139
: Percent of Open Interest Represented by Each Category of Trader :
: 7.9 15.6 17.3 41.6 52.4 22.2 8.2 89.0 93.6: 11.0 6.4
: Total Traders: 280 Number of Traders in Each Category :
: 53 58 66 94 87 37 19 222 205:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: World vegetable oils markets were higher last week. Palm Oil closed higher after news of renewed demand interest from India and China and on reports of less production from southern Malaysia. Palm Oil has been hoping for better demand from importers as world economies slowly open after being closed by the Coronavirus epidemic. A government change in Malaysia helped open the Indian market to Malaysian imports again. Southern Malaysia producers reported a sharp drop in production and there are ideas that all of Malaysia will come in below previous months. Indonesia continues to focus its Palm Oil on internal demand for bio fuels. Soybean Oil was higher last week and Canola was lower. Canola fell on improved growing conditions in the Canadian Prairies. Canola has found support from the recent recovery in Soybeans and Soybean Oil along with a weaker Canadian Dollar. 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. However, a BC judge ruled against the release of the Huiwai executive last week and this renewed trade tensions between Canada and China. The weather has been warmer the past couple of weeks after weeks of cold and wet weather.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 461.00, 459.00, and 456.00 July, with resistance at 468.00, 470.00, and 472.00 July. Trends in Palm Oil are mixed. Support is at 2300, 2280, and 2240 August, with resistance at 2400, 2510, and 2590 August.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 2, 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 202,309 :
: Positions :
: 175,576 119,234 404 850 1,397 3,760 52,732 5,379 2,606 8,914 12,215 :
: Changes from: May 26, 2020 :
: 3,264 -6,425 5 -40 120 -1,572 8,573 2,495 344 299 -365 :
: Percent of Open Interest Represented by Each Category of Trader :
: 86.8 58.9 0.2 0.4 0.7 1.9 26.1 2.7 1.3 4.4 6.0 :
: Number of Traders in Each Category Total Traders: 215 :
: 33 48 . 5 4 8 54 8 33 47 15 :
—————————————————————————————————————-

Midwest Weather Forecast: Scattered showers and storms this week with best amounts and coverage tomorrow and Wednesday in the west and north. Temperatures should average above normal

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
June +46 July +133 May +50 July +57 July N/A N/A
July +46 July +53 July +60 July
August +41 Sep +65 Aug

DJ ICE Canada Cash Grain Close – Jun 5
WINNIPEG — The following are the closing cash
canola prices from ICE Futures.
Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 450.60 -13.00 Jul 2020 up 2.70
Basis: Thunder Bay 481.00 15.00 Jul 2020 up 2.40
Basis: Vancouver 491.00 25.00 Jul 2020 up 2.40
All prices in Canadian dollars per metric tonne.
*Quote for previous day
Source: Commodity News Service Canada
(news@marketsfarm.com, 204-414-9084, or cell
204-782-5944)

DJ China Dalian Grain Futures Closing Prices, Volume – Jun 08
Soybean No. 1
Turnover: 481,514 lots, or 21.41 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-20 5,008 5,050 4,996 5,039 5,027 5,020 -7 183 1,345
Sep-20 4,346 4,562 4,330 4,556 4,394 4,456 62 467,947 124,778
Nov-20 4,061 4,126 4,061 4,115 4,078 4,093 15 80 483
Jan-21 4,032 4,116 4,024 4,113 4,037 4,068 31 12,933 19,336
Mar-21 4,079 4,079 4,079 4,079 4,019 4,079 60 1 43
May-21 4,029 4,105 4,017 4,105 4,027 4,069 42 370 1,996
Corn
Turnover: 432,675 lots, or 8.96 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-20 2,044 2,045 2,032 2,040 2,039 2,038 -1 3,656 18,185
Sep-20 2,073 2,074 2,056 2,062 2,066 2,062 -4 341,966 652,342
Nov-20 2,094 2,096 2,080 2,086 2,089 2,085 -4 19,796 36,553
Jan-21 2,117 2,120 2,104 2,110 2,114 2,109 -5 58,503 247,417
Mar-21 2,133 2,133 2,122 2,128 2,130 2,125 -5 2,483 3,461
May-21 2,154 2,155 2,143 2,146 2,149 2,147 -2 6,271 32,470
Soymeal
Turnover: 1,502,769 lots, or 42.63 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-20 2,678 2,681 2,634 2,641 2,685 2,659 -26 8,659 31,491
Aug-20 2,827 2,829 2,786 2,786 2,827 2,808 -19 22,311 28,834
Sep-20 2,845 2,847 2,808 2,809 2,848 2,827 -21 1,124,703 1,539,433
Nov-20 2,882 2,885 2,848 2,848 2,886 2,869 -17 25,379 47,041
Dec-20 2,899 2,901 2,875 2,875 2,904 2,891 -13 4,062 3,182
Jan-21 2,915 2,916 2,884 2,885 2,911 2,900 -11 269,644 739,035
Mar-21 2,785 2,793 2,769 2,776 2,797 2,782 -15 256 1,527
May-21 2,710 2,712 2,696 2,700 2,701 2,703 2 47,755 135,597
Palm Oil
Turnover: 1,119,370 lots, or 54.60 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jun-20 – – – 4,770 4,770 4,770 0 0 0
Jul-20 – – – 4,968 4,948 4,968 20 0 9
Aug-20 4,942 4,942 4,882 4,882 4,940 4,912 -28 2 3
Sep-20 4,930 4,932 4,826 4,910 4,892 4,876 -16 1,021,064 391,007
Oct-20 4,752 4,760 4,714 4,758 4,742 4,740 -2 72 334
Nov-20 4,730 4,770 4,718 4,732 4,734 4,746 12 77 176
Dec-20 4,784 4,802 4,772 4,772 4,754 4,790 36 11 186
Jan-21 4,900 4,924 4,848 4,876 4,856 4,886 30 97,119 104,524
Feb-21 4,962 4,962 4,902 4,902 4,822 4,932 110 2 115
Mar-21 – – – 4,968 4,968 4,968 0 0 16
Apr-21 4,938 4,938 4,938 4,938 4,906 4,938 32 1 154
May-21 5,020 5,038 4,986 5,004 4,990 5,010 20 1,022 3,390
Soybean Oil
Turnover: 374,514 lots, or 21.29 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-20 5,888 5,888 5,654 5,666 5,600 5,750 150 15 7
Aug-20 5,672 5,674 5,612 5,612 5,646 5,642 -4 41 2
Sep-20 5,696 5,704 5,638 5,686 5,668 5,670 2 312,540 401,261
Nov-20 5,698 5,758 5,698 5,758 5,716 5,728 12 2 393
Dec-20 – – – 5,740 5,740 5,740 0 0 20
Jan-21 5,764 5,850 5,714 5,754 5,736 5,744 8 58,601 143,441
Mar-21 5,786 5,786 5,786 5,786 5,760 5,786 26 1 11
May-21 5,812 5,828 5,774 5,808 5,788 5,802 14 3,314 7,392
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.

141 W. Jackson Blvd. Suite 1920, Chicago, IL 60604 | (800) 769-7021 | (312) 264-4364 (Direct) | www.pricegroup.com
Past performance is not indicative of future results. Investing in futures can involve substantial risk & is not for everyone. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or futures.
The Price Futures Group, its officers, directors, employees, and brokers may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. Reproduction and/or distribution of any portion of this report are strictly prohibited without the written permission of the author.
To SUBSCRIBE to Morning Grains please click here.

To Unsubscribe from Morning Grains please click here.

Click Here to View the Morning Grains Archives

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