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
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Grains Report 01/11/2021
WHEAT
General Comments: Winter Wheat markets were mixed, with SRW near unchanged and HRW weaker and HRS stronger. World markets remained stable and there are more forecasts for rain and snow in the southern Great Plains. Rain and snow will be beneficial to crops in the region. Southern Russia has also gotten some rain and snow now as the crops there are dormant. The snow can help protect crops against Winterkill and the rain and snow can be used in the Spring to support initial growth.. US prices remain very close to international prices and US markets have searched for new demand. Export demand has remained stable and moderate with the close price relationships. World prices have worked higher even with additional supplies available to the market as Russian prices remain elevated. Australian supplies have increased as its harvest is moving to completion.
Overnight News: The southern Great Plains should get isolated showers or dry conditions. Temperatures should be near normal. Northern areas should see scattered showers today and tomorrow, then mostly dry conditions. Temperatures will be above normal. The Canadian Prairies should see mostly dry conditions. Temperatures should average above normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 634, 628, and 614 March, with resistance at 650, 660, and 664 March. Trends in Kansas City are mixed to down with objectives of 574, 552, and 514 March. Support is at 587, 573, and 563 March, with resistance at 603, 616, and 618 March. Trends in Minneapolis are mixed. Support is at 596, 590, and 583 March, and resistance is at 614, 620, and 626 March.
COT — Supplemental Report – Option and Futures Combined Positions as of January 05, 2021
: 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 522,434
: Positions :
: 81,306 83,039 156,807 65,994 187,532 181,248 44,233 485,356 471,612: 37,078 50,822
: :
: Changes from: December 29, 2020 (Change in open interest: 45,177) :
: 12,089 3,603 15,850 8,534 23,743 7,335 2,241 43,808 45,437: 1,368 -260
: :
: Percent of Open Interest Represented by Each Category of Trader :
: 15.6 15.9 30.0 12.6 35.9 34.7 8.5 92.9 90.3: 7.1 9.7
: :
: Total Traders: 394 Number of Traders in Each Category :
: 103 105 109 74 116 50 22 296 292:
——————————————————————————————————————-
COT — Supplemental Report – Option and Futures Combined Positions as of January 05, 2021
: 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 237,961
: Positions :
: 54,531 21,721 39,809 36,925 142,847 84,049 11,090 215,315 215,467: 22,647 22,495
: :
: Changes from: December 29, 2020 (Change in open interest: 6,771) :
: 3,043 4,098 886 29 1,042 1,257 -1,355 5,215 4,672: 1,556 2,099
: :
: Percent of Open Interest Represented by Each Category of Trader :
: 22.9 9.1 16.7 15.5 60.0 35.3 4.7 90.5 90.5: 9.5 9.5
: :
: Total Traders: 249 Number of Traders in Each Category :
: 67 37 46 66 89 36 15 193 166:
——————————————————————————————————————-
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of January 5, 2021
: 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 82,317 :
: Positions :
: 32,520 53,044 3,624 432 906 15,092 7,344 2,164 7,591 3,688 4,337 :
: :
: Changes from: December 29, 2020 :
: 1,933 6,952 4 60 -15 3,068 -747 -98 693 1,097 113 :
: :
: Percent of Open Interest Represented by Each Category of Trader :
: 39.5 64.4 4.4 0.5 1.1 18.3 8.9 2.6 9.2 4.5 5.3 :
: :
: Number of Traders in Each Category Total Traders: 119 :
: 48 40 5 . 4 15 7 4 15 8 10 :
—————————————————————————————————————-
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of January 5, 2021
: 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 22,303 :
: Positions :
: 9,256 18,441 0 1,647 238 10,592 350 553 249 0 200 :
: :
: Changes from: December 29, 2020 :
: -644 54 0 -260 45 95 50 -40 249 0 200 :
: :
: Percent of Open Interest Represented by Each Category of Trader :
: 41.5 82.7 0.0 7.4 1.1 47.5 1.6 2.5 1.1 0.0 0.9 :
: :
: Number of Traders in Each Category Total Traders: 28 :
: 7 16 0 . . 4 . . . 0 . :
—————————————————————————————————————-
RICE
General Comments: Rice was a little higher last week in quiet trading. Trading still reflects the lack of activity in the domestic cash market and the lack of activity is causing some volatility to enter. The market has turned to look for new demand and the spreads suggest that not much is out there. Trading volumes have been less for the last couple of weeks. The cash market is slow and the lack of business is reflected in futures volumes traded. Reports indicate that domestic demand has been poor to average with better consumer demand more than offset by much less demand from schools and other institutions.
Overnight News: The Delta should get scattered showers this weekend. Temperatures should be below normal.
Chart Analysis: Trends are mixed. Support is at 1261, 1259, and 1248 March, with resistance at 1281, 1293, and 1301 March.
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of January 5, 2021
: 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 9,637 :
: Positions :
: 5,222 7,764 180 0 0 1,874 567 0 825 407 184 :
: :
: Changes from: December 29, 2020 :
: 17 -161 9 0 0 12 0 0 74 236 -287 :
: :
: Percent of Open Interest Represented by Each Category of Trader :
: 54.2 80.6 1.9 0.0 0.0 19.4 5.9 0.0 8.6 4.2 1.9 :
: :
: Number of Traders in Each Category Total Traders: 42 :
: 7 14 . 0 0 10 . 0 6 . . :
—————————————————————————————————————-
CORN AND OATS
General Comments: Corn was higher and Oats were a little lower, with Corn higher amid worries about the dry weather in South America and the demand for the US crops. Trends are up in both markets. Export demand has held relatively strong as US Corn is about the cheapest feed grain in the world market. Domestic demand has been less due to reduced demand for ethanol processing and questions about feed demand. It has rained in central and northern Brazil in the last week. Southern Brazil and Argentina got some very beneficial rain over the weekend. Drought could develop in Brazil and Argentina as the overall weather patterns have been dry and as dry weather is in the forecast for Argentina and southern Brazil. The drought is especially serious in South America for the first Corn crop but the second crop could also be affected due to late planting in central and northern Brazil. Dry weather has delayed the Soybeans planting and that will delay the second Corn planting later.
Overnight News: Colombia bought 108,500 tons of US Corn.
Chart Analysis: Trends in Corn are mixed to up with no objectives. Support is at 480, 473, and 467 March, and resistance is at 498, 502, and 505 March. Trends in Oats are mixed. Support is at 350, 347, and 339 March, and resistance is at 363, 370, and 373 March.
COT — Supplemental Report – Option and Futures Combined Positions as of January 05, 2021
: 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 2,379,202
: Positions :
: 488,351 92,734 485,004 593,119 1,390,332 591,519 182,441 2,157,993 2,150,511: 221,209 228,691
: :
: Changes from: December 29, 2020 (Change in open interest: 135,469) :
: 15,164 -2,817 58,231 29,446 72,315 14,971 7,989 117,812 135,719: 17,658 -249
: :
: Percent of Open Interest Represented by Each Category of Trader :
: 20.5 3.9 20.4 24.9 58.4 24.9 7.7 90.7 90.4: 9.3 9.6
: :
: Total Traders: 941 Number of Traders in Each Category :
: 214 139 183 376 462 53 25 734 728:
——————————————————————————————————————-
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of January 5, 2021
: 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 4,849 :
: Positions :
: 703 3,947 122 0 0 1,403 0 0 586 0 0 :
: :
: Changes from: December 29, 2020 :
: -38 257 -11 0 0 -78 0 0 -14 0 0 :
: :
: Percent of Open Interest Represented by Each Category of Trader :
: 14.5 81.4 2.5 0.0 0.0 28.9 0.0 0.0 12.1 0.0 0.0 :
: :
: Number of Traders in Each Category Total Traders: 24 :
: 6 10 . 0 0 9 0 0 . 0 0 :
—————————————————————————————————————-
SOYBEANS AND PRODUCTS
General Comments: Soybeans and the products closed higher once again despite some reports of rains in South America. Demand remains a feature of the market as US ending stocks estimates are very tight and are likely to get even tighter as time goes on. China continues to buy each day and has appeared in the daily reporting system of USDA in the past week. Production potential is being threatened in South America due to the lack of rainfall. The situation is improved in central and northern Brazil but remains dire in southern Brazil and Argentina. Southern Brazil and Argentina got some very beneficial rain over the weekend and more is in the forecast for late this week. The world will need very strong production from South America to meet the projected demand. The stocks to use ration for Soybeans is now very small and the situation is the tightest projected in years.
Overnight News: China bought 132,000 tons of US Soybeans.
Chart Analysis: Trends in Soybeans are mixed to up with no objectives. Support is at 1369, 1342, and 1293 March, and resistance is at 1388, 1400, and 1412 March. Trends in Soybean Meal are mixed to up with objectives of 451.00 March. Support is at 426.00, 421.00, and 414.00 March, and resistance is at 444.00, 447.00, and 450.00 March. Trends in Soybean Oil are mixed to up with no objectives. Support is at 4310, 4200, and 4130 March, with resistance at 4420, 4430, and 4470 March.
COT — Supplemental Report – Option and Futures Combined Positions as of January 05, 2021
: 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 1,282,647
: Positions :
: 203,388 38,173 344,795 379,676 711,493 264,736 98,553 1,192,595 1,193,014: 90,052 89,633
: :
: Changes from: December 29, 2020 (Change in open interest: 64,924) :
: -9,507 221 37,659 28,529 16,556 5,096 12,000 61,777 66,436: 3,147 -1,512
: :
: Percent of Open Interest Represented by Each Category of Trader :
: 15.9 3.0 26.9 29.6 55.5 20.6 7.7 93.0 93.0: 7.0 7.0
: :
: Total Traders: 674 Number of Traders in Each Category :
: 225 97 196 204 252 52 23 550 514:
——————————————————————————————————————-
COT — Supplemental Report – Option and Futures Combined Positions as of January 05, 2021
: 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 571,571
: Positions :
: 109,205 17,279 138,232 127,362 361,295 150,706 27,794 525,506 544,600: 46,065 26,971
: :
: Changes from: December 29, 2020 (Change in open interest: 13,996) :
: 2,222 -634 6,193 7,407 8,018 -1,199 904 14,622 14,481: -626 -485
: :
: Percent of Open Interest Represented by Each Category of Trader :
: 19.1 3.0 24.2 22.3 63.2 26.4 4.9 91.9 95.3: 8.1 4.7
: :
: Total Traders: 315 Number of Traders in Each Category :
: 116 34 72 86 87 39 16 269 189:
——————————————————————————————————————-
COT — Supplemental Report – Option and Futures Combined Positions as of January 05, 2021
: 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 486,734
: Positions :
: 81,174 13,894 94,071 143,264 331,353 112,570 18,680 431,079 457,998: 55,654 28,735
: :
: Changes from: December 29, 2020 (Change in open interest: 5,632) :
: -2,571 2,514 3,677 5,233 -2,267 296 2,413 6,635 6,337: -1,003 -705
: :
: Percent of Open Interest Represented by Each Category of Trader :
: 16.7 2.9 19.3 29.4 68.1 23.1 3.8 88.6 94.1: 11.4 5.9
: :
: Total Traders: 275 Number of Traders in Each Category :
: 90 25 59 100 94 36 15 246 179:
——————————————————————————————————————-
CANOLA AND PALM OIL
General Comments: Palm Oil closed higher and made a new high weekly close once again last week. The market was supported by ideas of tight supplies coming down the road. Production of most vegetable oils in the world is less this year due to a lack of production of oilseeds. The production of Palm Oil is down in both Malaysia and Indonesia as plantations in both countries are having trouble getting workers into the fields. Export demand has been strong and ethanol demand has been moderate. Soybean Oil and Canola were higher on strong demand ideas. Production problems for Soybeans in South America helped Soybean Oil. Very strong Palm Oil prices have made buying Soybean and Canola oils the better option. Trends are up in Soybean Oil and in Canola. Demand for Canola has improved in recent weeks and farm selling has been less.
Overnight News:
Chart Analysis: Trends in Canola are up with objectives of 654.00 and 671.00 March. Support is at 646.00, 636.00, and 631.00 March, with resistance at 655.00, 658.00, and 661.00 March. Trends in Palm Oil are up with no objectives. Support is at 3770, 3630, and 3560 March, with resistance at 3890, 3910, and 3940 March.
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of January 5, 2021
: 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 230,573 :
: Positions :
: 136,286 187,983 4,255 3,886 3,175 54,330 1,052 8,110 8,520 11,304 13,737 :
: :
: Changes from: December 29, 2020 :
: 8,600 3,010 88 -217 548 -2,325 612 1,938 -1,378 1,648 1,149 :
: :
: Percent of Open Interest Represented by Each Category of Trader :
: 59.1 81.5 1.8 1.7 1.4 23.6 0.5 3.5 3.7 4.9 6.0 :
: :
: Number of Traders in Each Category Total Traders: 284 :
: 53 52 . 5 4 58 4 10 76 48 38 :
—————————————————————————————————————-
Midwest Weather Forecast: Mostly dry or light precipitation. Temperatures should average near normal
DJ ICE Canada Cash Grain Close – Jan 7
WINNIPEG — The following are the closing cash
canola prices from ICE Futures.
Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 619.60 -32.40 Mar 2021 up 3.70
Basis: Thunder Bay 701.80 45.00 Mar 2021 up 4.80
Basis: Vancouver 716.80 60.00 Mar 2021 up 4.80
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 Malaysian PM Cash Market Prices for Palm Oil – Jan 11
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Monday, supplied by commodity broker Matthes & Porton Bhd.
Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgit a ton. Palm kernel oil prices are in ringgit a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 1032.50 -05.00 Unquoted – –
Feb 1017.50 -05.00 Unquoted – –
Mar 982.50 -07.50 Unquoted – –
Apr/May/Jun 925.00 -05.00 Unquoted – –
Jul/Aug/Sep 850.00 -05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 1035.00 -05.00 Unquoted – –
Feb 1020.00 -05.00 Unquoted – –
Mar 985.00 -07.50 Unquoted – –
Apr/May/Jun 927.50 -05.00 Unquoted – –
Jul/Aug/Sep 852.50 -05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 1010.00 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jan 895.00 -05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 4,000.00 -30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 338.00 -02.00 Unquoted – –
($1=MYR4.041)
DJ China Dalian Grain Futures Closing Prices, Volume – Jan 11
Soybean No. 1
Turnover: 212,996 lots, or 12.61 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-21 5,800 5,853 5,800 5,853 5,760 5,807 47 124 3,831
Mar-21 5,832 5,970 5,814 5,936 5,831 5,924 93 13,718 7,775
May-21 5,853 5,987 5,827 5,954 5,847 5,923 76 196,966 93,768
Jul-21 5,810 5,923 5,761 5,862 5,764 5,856 92 148 963
Sep-21 5,737 5,843 5,720 5,804 5,732 5,789 57 1,990 3,115
Nov-21 5,422 5,561 5,422 5,533 5,476 5,524 48 50 150
Corn
Turnover: 1,504,974 lots, or 42.87 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-21 2,800 2,840 2,794 2,825 2,756 2,820 64 509 3,341
Mar-21 2,830 2,916 2,805 2,830 2,797 2,851 54 70,864 91,092
May-21 2,842 2,911 2,801 2,837 2,821 2,855 34 1,181,606 1,073,199
Jul-21 2,832 2,904 2,808 2,840 2,820 2,854 34 62,190 129,338
Sep-21 2,797 2,860 2,764 2,801 2,790 2,811 21 158,116 224,857
Nov-21 2,732 2,790 2,711 2,741 2,720 2,753 33 31,689 24,273
Soymeal
Turnover: 2,802,342 lots, or 10.06 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-21 3,608 3,608 3,605 3,605 3,540 3,606 66 17 30
Mar-21 3,568 3,726 3,566 3,668 3,537 3,631 94 114,019 48,365
May-21 3,548 3,657 3,523 3,619 3,509 3,588 79 2,091,759 1,720,950
Jul-21 3,539 3,611 3,506 3,578 3,503 3,557 54 99,081 90,152
Aug-21 3,570 3,638 3,535 3,611 3,535 3,586 51 27,750 11,773
Sep-21 3,571 3,645 3,542 3,618 3,541 3,601 60 469,100 632,173
Nov-21 3,497 3,534 3,452 3,517 3,471 3,509 38 178 953
Dec-21 3,485 3,511 3,456 3,491 3,444 3,485 41 438 1,795
Palm Oil
Turnover: 980,387 lots, or 70.71 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-21 7,786 8,046 7,444 7,444 7,450 7,780 330 203 391
Feb-21 7,618 7,696 7,450 7,468 7,612 7,598 -14 9,751 22,230
Mar-21 7,596 7,680 7,440 7,462 7,596 7,574 -22 9,196 19,623
Apr-21 7,424 7,502 7,258 7,272 7,418 7,412 -6 5,853 6,259
May-21 7,256 7,356 7,092 7,120 7,238 7,226 -12 908,187 339,244
Jun-21 7,138 7,232 6,970 7,014 7,072 7,114 42 3,084 1,019
Jul-21 6,972 6,994 6,820 6,820 6,922 6,924 2 26 26
Aug-21 – – – 6,792 6,792 6,792 0 0 3
Sep-21 6,744 6,850 6,616 6,644 6,742 6,736 -6 44,064 38,318
Oct-21 6,708 6,758 6,588 6,758 6,686 6,644 -42 17 8
Nov-21 6,716 6,716 6,608 6,608 6,610 6,684 74 4 25
Dec-21 6,698 6,698 6,688 6,688 6,680 6,692 12 2 19
Soybean Oil
Turnover: 1,068,060 lots, or 86.64 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-21 8,830 8,880 8,830 8,880 8,830 8,876 46 249 3,539
Mar-21 8,552 8,680 8,414 8,436 8,496 8,516 20 8,703 7,580
May-21 8,164 8,250 8,024 8,058 8,128 8,148 20 956,043 508,099
Jul-21 7,892 7,958 7,764 7,786 7,864 7,868 4 23,220 25,265
Aug-21 7,766 7,866 7,662 7,690 7,754 7,762 8 10,240 3,966
Sep-21 7,692 7,766 7,574 7,606 7,664 7,682 18 69,576 87,748
Nov-21 7,656 7,738 7,548 7,568 7,626 7,666 40 10 150
Dec-21 7,630 7,630 7,448 7,448 7,518 7,546 28 19 29
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