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 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 Thursday.
U.S. 2020 Production (million bushels, bushels per acre)
Average Range USDA May USDA 2019
Corn Production 15,924 15,544-15,995 15,995 13,663
Corn Yield 178.5 176.0-180.0 178.5 167.8
Soybean Production 4,152 4,125-4,292 4,125 3,557
Soybean Yield 50.0 49.8-51.0 49.8 47.4
Corn Soybean
Production Yield Production Yield
Advanced Market Concepts 15,995 178.5 4,125 49.8
AgriSource 15,995 178.5 4,125 49.8
Allendale 15,995 4,125
DC Analysis 15,770 179.0 4,200 50.0
Doane 15,894 180.0 4,265 51.0
EDF Man 15,995 178.5 4,125 49.8
Futures International 15,995 179.0 4,125 50.0
Grain Cycles 15,995 178.5 4,125 49.8
Hueber Report 15,995 178.5 4,125 49.8
INTL FCStone 15,638 178.5 4,223 49.8
Sid Love Consulting 15,995 178.5 4,125 49.8
Midland Research 15,995 178.5 4,125 49.8
North Star 15,995 178.5 4,125 49.8
RMC 15,995 178.5 4,125 49.8
US Commodities 15,851 178.7 4,125 49.8
Vantage RM 15,995 178.5 4,125 49.8
Western Milling 15,544 176.0 4,292 51.0
Zaner Ag Hedge 15,995 178.5 4,125 49.8

DJ U.S. June 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 Thursday at noon ET.
U.S. Stockpiles (millions)
2019-20
Average Range USDA May
Corn 2,154 2,075-2,303 2,098
Soybeans 584 497-630 580
Wheat 980 950-1,001 978
2020-21
Average Range USDA May
Corn 3,340 3,177-3,594 3,318
Soybeans 459 395-684 405
Wheat 904 876-934 909
2019-20 2020-21
Corn Soybeans Wheat Corn Soybeans Wheat
Advanced Market Concep 2,115 600 978 3,318 425 890
AgriSource 2,075 580 950 3,290 405 889
Allendale 2,123 570 982 3,343 395 895
DC Analysis 2,148 599 978 3,243 439 876
Doane 2,145 610 995 3,200 565 915
EDF Man 2,098 580 978 3,318 405 909
Futures International 2,194 497 978 3,414 407 899
Grain Cycles 2,098 570 988 3,318 395 893
Hueber Report 2,098 580 980 3,318 405 909
INTL FCStone 2,229 594 969 3,422 684 932
Sid Love Consulting 2,098 580 978 3,318 405 890
Midland Research 2,154 590 998 3,374 415 897
Northstar 2,090 580 978 3,300 420 910
RJ O’Brien 2,208 588 1,001 3,177 449 934
RMC 2,123 575 985 3,343 420 914
US Commodities 2,303 630 978 3,594 538 920
Vantage RM 2,198 600 978 3,418 425 915
Western Milling 2,282 549 979 3,352 683 901
Zaner Ag Hedge 2,138 620 968 3,408 435 879

DJ June 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 Thursday at noon ET.
World Stockpiles (million metric tons)
2019-20
Average Range USDA May
Corn 315.1 312.4-319.7 314.7
Soybeans 100.3 98.5-103.1 100.3
Wheat 294.7 292.0-296.0 295.1
2020-21
Average Range USDA May
Corn 337.6 314.0-346.6 339.6
Soybeans 100.1 96.0-118.2 98.4
Wheat 307.5 298.5-312.0 310.1
2019-20 2020-21
Corn Soybeans Wheat Corn Soybeans Wheat
Advanced Market Concepts 314.0 100.9 295.0 314.0 99.6 307.0
Allendale 315.0 99.7 295.2 339.8 97.8 307.8
Doane 335.0 100.0 305.0
EDF Man 315.0 100.0 296.0 341.0 98.0 308.0
Futures International 342.0 96.0 309.0
Grain Cycles 339.0 98.4 308.5
Hueber Report 313.5 98.5 293.0 336.5 96.5 308.0
INTL FCStone 312.4 103.1 294.1 332.5 118.2 298.5
Northstar 314.0 100.0 292.0 339.0 98.4 308.0
RMC 317.0 99.5 296.0 341.0 97.5 309.0
US Commodities 319.7 101.3 295.1 346.6 102.4 309.0
Western Milling 315.0 100.0 296.0 340.0 99.0 312.0
Zaner Ag Hedge 341.9 99.3 307.4

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 Thursday.
2020-21 WHEAT PRODUCTION
Average Range USDA May USDA 2019-20
All Wheat 1,852 1,824-1,892 1,866 1,920
Winter Wheat 1,243 1,211-1,337 1,255 1,304
Hard Red Winter 723 680-814 733 833
Soft Red Winter 291 201-305 298 239
White Winter 225 218-234 224 232
All Wheat Winter Wheat Hard-Red Soft-Red White
Advanced Market Concepts 1,847 1,236 719 295 222
Allendale 1,824 1,211 709 284 218
DC Analysis 1,834 1,213 680 305 228
Doane 1,850 1,239 712 299 228
EDF Man 1,865 1,255 735 300 220
Futures International 1,856 1,245 723 297 225
Grain Cycles 1,850 1,240 725 290 225
Hueber Report 1,866 1,255 733 298 224
INTL FCStone 1,828 1,217 693 297 227
Sid Love Consulting 1,847 1,236 713 298 225
Midland Research 1,834 1,223 700 201 222
North Star 1,850 1,240 720 300 220
RJ O’Brien 1,873 1,248 730 292 226
RMC 1,846 1,235 713 298 224
US Commidities 1,875 1,264 738 300 226
Vantage RM 1,846 1,235 733 298 224
Western Milling 1,892 1,337 814 289 234

DJ June 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 Thursday at noon ET.
Brazil Corn, Soybean Production (million metric tons)
Average Range USDA May
Corn 99.6 98.5-102.0 101.0
Soybeans 123.0 120.9-125.0 124.0
Corn Soybeans
Advanced Market Concepts 100.0 123.5
DC Analysis 100.0 125.0
Doane 102.0 122.0
EDF Man 100.0 124.0
Futures International 99.0 124.0
Hueber Report 99.0 122.0
INTL FCStone 98.8 120.9
Midland Research 99.0 122.0
North Star 100.0 123.0
RMC 98.5 123.5
US Commodities 100.5 123.5
Western Milling 99.0 123.0
Zaner Ag Hedge 99.5 122.5
Argentina Corn, Soybean Production (million metric tons)
Average Range USDA May
Corn 49.9 49.0-50.0 50.0
Soybeans 50.8 50.0-51.2 51.0
Corn Soybeans
Advanced Market Concepts 49.5 51.0
DC Analysis 50.0 50.5
Doane 50.0 51.0
EDF Man 50.0 51.0
Futures International 50.0 50.5
Hueber Report 49.0 51.0
INTL FCStone 50.0 50.0
Midland Research 50.0 50.0
North Star 50.0 51.0
RMC 50.0 51.0
US Commodities 49.8 51.2
Western Milling 50.0 51.0
Zaner Ag Hedge 50.0 51.0

DJ USDA Grain Inspections for Export in Metric Tons – Jun 8
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 JUN 04, 2020
— METRIC TONS —
————————————————————————-
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 06/04/2020 05/28/2020 06/06/2019 TO DATE TO DATE
BARLEY 0 0 196 0 196
CORN 1,100,078 1,146,284 851,765 29,611,226 40,179,103
FLAXSEED 0 0 0 0 0
MIXED 0 0 0 0 0
OATS 0 0 299 0 299
RYE 0 0 0 0 0
SORGHUM 195,657 125,119 52,436 3,515,642 1,465,689
SOYBEANS 213,047 399,152 734,098 35,624,912 34,969,082
SUNFLOWER 0 0 0 0 0
WHEAT 432,919 555,500 479,754 169,153 470,766
Total 1,941,701 2,226,055 2,118,548 68,920,933 77,085,135
————————————————————————-
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 Brazil Raises 2019-2020 Soybean Estimate to 120.4M Tons
By Jeffrey T. Lewis
SAO PAULO–Brazilian crop agency Conab raised slightly its estimate for soybean production for the 2019-2020 growing season while cutting its forecast for the corn crop because of bad weather in some areas.
Brazilian farmers produced 120.4 million metric tons of soybeans this season, the agency said Tuesday. In May, the agency forecast a crop of 120.3 million tons. Brazil produced 115.03 million tons of soybeans in 2018-2019 after setting the previous record of 119.3 million tons in 2017-2018.
The soybean harvest in Brazil is finished for the season, and despite dry weather in the southern state of Rio Grande do Sul reducing output there, record production in a handful of other states pushed the country to its seventh record in 10 seasons.
Bad weather also affected the corn crop, though this time in the center-south region. Brazil’s mild winters allow farmers to produce two crops per year, and the unfavorable climate conditions in the center south led Conab to cut its forecast for output for the winter crop and the total crop.
Brazil will produce a total of 101 million metric tons of corn this season, up slightly from the 100.04 million tons produced in 2018-2019, but down from Conab’s May forecast of 102.3 million tons. Conab cut its forecast for the winter corn crop to 74.2 million tons from 75.9 million tons.

Crop Progress
Date 31-May 24-May 2019 Avg
Cotton Planted 76 66 74 81
Cotton Squaring 13 8 10 10
Corn Planted 97 93 78 94
Corn Emerged 89 78 57 84
Soybeans Planted 86 75 54 79
Soybeans Emerged 67 52 30 61
Sorghum Planted 64 49 45 60
Rice Planted 95 93 95 98
Rice Emerged 88 81 84 93
Peanuts Planted 90 78 90 91
Sugarbeets Planted 99 93 96 99
Sunflowers Planted 52 32 35 56
Oats Emerged
91 86 84 94
Oats Headed 34 27 27 36
Winter Wheat Headed 85 77 81 88
Winter Wheat Harvested 7 3 3 7
Spring Wheat Planted 97 91 96 99
Spring Wheat Emerged 81 67 80 91
Barley Planted 97 93 96 99
Barley Emerged 87 74 82 90

Crop Condition
Very Poor Poor Fair Good Excellent
Cotton This Week 2 11 44 36 7
Cotton Last Week 1 7 48 39 5
Cotton Last Year 7 8 41 37 7

Winter Wheat This Week 7 12 30 42 9
Winter Wheat Last Week 6 13 30 43 8
Winter Wheat Last Year 2 7 27 50 14

Spring Wheat This Week 0 1 17 72 10
Spring Wheat Last Week 1 1 18 72 8
Spring Wheat Last Year 0 1 18 73 8

Corn This Week 1 3 21 60 15
Corn Last Week 1 3 22 61 13
Corn Last Year 2 7 32 52 7

Soybeans This Week 1 3 24 60 12
Soybeans Last Week 1 3 24 60 10
Soybeans Last Year

Sorghum This Week 1 2 39 50 5
Sprghum Last Week 2 4 30 56 8
Sorghum Last Year

Rice This Week 0 2 28 56 14
Rice Last Week 0 2 29 55 14
Rice Last Year 1 6 32 52 9

Peanuts This Week 1 8 25 62 4
Peanuts Last Week 2 6 24 65 3
Peanuts Last Year 1 6 33 58 2

Oats This Week 0 4 25 59 12
Oats Last Week 1 3 25 59 12
Oats Last Year 2 4 29 57 8

Barley This Week 0 2 19 65 14
Barley Last Week 0 1 30 61 8
Barley Last Year 0 2 14 68 16

Pastures and Ranges This Week 6 13 32 41 8
Pastures and Ranges Last Week 4 12 33 42 9
Pastures and Ranges Last Year 1 6 25 54 14

WHEAT:
General Comments: Wheat markets were lower in the winter markets but higher in Minneapolis Spring Wheat. 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. Cold air is coming to the region and could affect the progress and condition of the Spring Wheat. 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 remain down through the harvest.
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. 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.

RICE
General Comments: Rice was lower in new crop months and limit down from the start of trading in old crop July. The funds were forced to sell. They found little buying interest and July could open limit down again today. The funds were buying the old crop futures initially on ideas of supply tightness but the market got too high for even the most bullish of fundamentals and had to undergo a major correction. 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 down with no objectives. Support is at 1810, 1731, and 1654 July, with resistance at 2056, 2206, and 2356 July.
Trends are down with no objectives. Support is at 1810, 1731, and 1654 July, with resistance at 2056, 2206, and 2356 July.

DJ Thai Rice Prices Rise on Export Demand — Market Talk
0149 GMT – Thai rice export prices further increased 1% in the week up to June 1 as exporters continued to fulfill large contracted shipments of white and parboiled rice to Asian and African buyers, the U.S. Department of Agriculture says. Further supporting prices is that Thai rice exporters will participate in the Philippines’ tender to buy 300,000 metric tons of 25% grade white rice on June 8 for June-July deliveries. “Thai rice exporters expect that Thai rice will be able to compete with Vietnamese rice as Thai and Vietnamese rice prices converged to a typical difference of US$10-$15 a metric ton.” (lucy.craymer@wsj.com)

CORN AND OATS
General Comments: Corn was a little higher on what appeared to be fund short covering. Producers were said to be the best sellers. 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 lifted in most states and in Europe. Demand for gasoline and ethanol has gotten a little stronger and should continue to improve over time. 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 up with objectives of 346 July. Support is at 331, 324, and 321 July, and resistance is at 340, 344, and 351 July. Trends in Oats are down with objectives of 293 July. Support is at 309, 300, and 295 July, and resistance is at 323, 331, and 335 July.

SOYBEANS AND PRODUCTS
General Comments: Soybeans were lower as no new Chinese demand was reported over the weekend. There are still concerns out there as to how much China will buy from the US due to the war of words between the countries and the fact that they have been buying a lot of Soybeans in Brazil. 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. 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 mixed to 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.

CANOLA AND PALM OIL
General Comments: World vegetable oils markets were higher last week. Palm Oil closed higher on ideas of higher petroleum prices. 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. Canola was lower. Canola fell on improved growing conditions in the Canadian Prairies. Canola was also weaker on the weakness in Chicago and the strength in the Canadian Dollar. The weather in the Prairies is mixed with Manitoba and Saskatchewan reporting good crops but Alberta noting that it is still too wet to plant in the Peace River area.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 463.00, 461.00, and 459.00 July, with resistance at 470.00, 472.00, and 474.00 July. Trends in Palm Oil are mixed. Support is at 2300, 2280, and 2240 August, with resistance at 2400, 2510, and 2590 August.

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

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
June +47 July +133 May +50 July +57 July N/A N/A
July +47 July +50 July +56 July
August +43 Sep +63 Aug

DJ ICE Canada Cash Grain Close – Jun 8
WINNIPEG, June 8 (MarketsFarm) – The following are the closing cash
canola prices from ICE Futures. Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 453.00 -13.00 July 2020 up 2.40
Basis: Thunder Bay 479.90 15.00 July 2020 dn 1.10
Basis: Vancouver 489.90 25.00 July 2020 dn 1.10
All prices in Canadian dollars per metric ton.

DJ Malaysian PM Cash Market Prices for Palm Oil – June 9
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
June 600.00 +05.00 Unquoted – –
July 592.50 +05.00 Unquoted – –
Aug/Sep 587.50 +10.00 Unquoted – –
Oct/Nov/Dec 582.50 +10.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
June 602.50 +05.00 Unquoted – –
July 595.00 +05.00 Unquoted – –
Aug/Sep 590.00 +10.00 Unquoted – –
Oct/Nov/Dec 585.00 +10.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
June 585.00 +07.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
June 540.00 +10.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
June 2,440.00 +20.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
June 183.00 +02.00 Unquoted – –
($1=MYR4.275)

DJ China Dalian Grain Futures Closing Prices, Volume – Jun 09
Soybean No. 1
Turnover: 405,963 lots, or 18.46 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-20 5,045 5,045 5,020 5,034 5,020 5,027 7 97 1,292
Sep-20 4,556 4,608 4,523 4,551 4,456 4,561 105 393,124 115,467
Nov-20 4,148 4,148 4,090 4,090 4,093 4,116 23 51 481
Jan-21 4,121 4,128 4,063 4,078 4,068 4,099 31 12,226 19,764
Mar-21 4,080 4,080 4,080 4,080 4,079 4,080 1 1 43
May-21 4,114 4,118 4,069 4,081 4,069 4,094 25 464 2,252
Corn
Turnover: 481,633 lots, or 10.01 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-20 2,039 2,052 2,038 2,052 2,038 2,047 9 1,969 17,843
Sep-20 2,062 2,079 2,058 2,077 2,062 2,070 8 388,617 661,398
Nov-20 2,085 2,102 2,082 2,100 2,085 2,094 9 18,254 38,651
Jan-21 2,109 2,121 2,107 2,119 2,109 2,116 7 62,929 259,191
Mar-21 2,127 2,136 2,125 2,135 2,125 2,130 5 3,185 3,820
May-21 2,146 2,157 2,145 2,155 2,147 2,152 5 6,679 36,422
Soymeal
Turnover: 1,076,246 lots, or 30.38 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-20 2,638 2,647 2,625 2,640 2,659 2,641 -18 3,181 30,516
Aug-20 2,803 2,803 2,779 2,796 2,808 2,794 -14 18,114 26,426
Sep-20 2,813 2,823 2,797 2,815 2,827 2,813 -14 806,574 1,520,200
Nov-20 2,848 2,861 2,836 2,856 2,869 2,852 -17 17,029 50,438
Dec-20 2,890 2,891 2,873 2,881 2,891 2,881 -10 2,998 2,362
Jan-21 2,885 2,899 2,872 2,888 2,900 2,888 -12 190,185 757,045
Mar-21 2,782 2,795 2,772 2,783 2,782 2,785 3 176 1,453
May-21 2,700 2,716 2,689 2,707 2,703 2,705 2 37,989 138,933
Palm Oil
Turnover: 1,399,356 lots, or 69.22 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 4,968 4,968 0 0 9
Aug-20 4,996 5,072 4,958 5,072 4,912 5,006 94 31 6
Sep-20 4,908 5,046 4,864 5,030 4,876 4,950 74 1,292,162 443,564
Oct-20 4,796 4,858 4,720 4,858 4,740 4,778 38 44 334
Nov-20 4,726 4,840 4,724 4,840 4,746 4,776 30 30 179
Dec-20 4,812 4,868 4,774 4,868 4,790 4,830 40 31 193
Jan-21 4,876 4,986 4,846 4,972 4,886 4,904 18 105,667 103,131
Feb-21 4,918 4,918 4,918 4,918 4,932 4,918 -14 1 115
Mar-21 5,070 5,070 5,070 5,070 4,968 5,070 102 1 16
Apr-21 – – – 4,970 4,938 4,970 32 0 154
May-21 5,006 5,088 4,978 5,076 5,010 5,026 16 1,389 3,399
Soybean Oil
Turnover: 637,254 lots, or 36.48 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-20 – – – 5,776 5,750 5,776 26 0 7
Aug-20 5,790 5,790 5,790 5,790 5,642 5,790 148 1 2
Sep-20 5,684 5,784 5,646 5,772 5,670 5,714 44 522,405 421,510
Nov-20 5,652 5,848 5,652 5,848 5,728 5,760 32 18 393
Dec-20 5,820 5,820 5,820 5,820 5,740 5,820 80 1 19
Jan-21 5,760 5,844 5,706 5,830 5,744 5,768 24 113,320 146,170
Mar-21 – – – 5,786 5,786 5,786 0 0 11
May-21 5,802 5,890 5,770 5,880 5,802 5,830 28 1,509 7,202
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