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 – Sep 13
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN OIL September Sep 14, 2021 39 Sep 08, 2021
ROUGH RICE September Sep 14, 2021 39 Sep 10, 2021
KC HRW WHEAT September Sep 14, 2021 1 Aug 27, 2021
WHEAT September Sep 14, 2021 60 Sep 10, 2021

DJ USDA Supply/Demand: Crop Summary – Sep 10
U.S. ending stocks in million bushels, except soyoil in million pounds,
cotton in million (480 pound) bales and rice in million cwt. Exports and
Production in million metric tons except cotton in million (480 pound) bales.
Projections based on trends and analysts’ judgments, not survey
date. Source: USDA’s World Agricultural Outlook Board.
======U.S.====== ================WORLD=======================
Ending Stocks Exports Production
21/22 20/21 19/20: 21/22 20/21 19/20: 21/22 20/21 19/20
Soybeans 185.0 175.0 525.0:173.17 165.74 165.06:384.42 363.27 339.73
Brazil na na na: 93.00 82.00 92.14:144.00 137.00 128.50
Argentina na na na: 6.35 5.20 10.00: 52.00 46.00 48.80
China na na na: 0.10 0.08 0.09: 19.00 19.60 18.10
Soyoil 1,478 1,858 1,853: 12.60 12.18 12.31: 61.86 59.74 58.54
Corn 1,408 1,187 1,919:201.27 179.59 172.40: 1,198 1,117 1,119
China na na na: 0.02 0.01 0.01:273.00 260.67 260.78
Argentina na na na: 38.00 37.50 36.25: 53.00 50.00 51.00
S.Africa na na na: 3.20 3.20 2.55: 17.00 17.00 15.84
Cotton(a) 3.70 3.15 7.25: 46.76 48.48 41.23:119.59 112.39 121.40
All Wheat 615 844 1,028:199.74 199.59 194.33:780.28 775.83 763.58
China na na na: 1.00 0.76 1.05:136.90 134.25 133.60
European
Union na na na: 35.00 29.62 39.77:139.00 125.94 138.74
Canada na na na: 17.00 26.42 24.63: 23.00 35.18 32.67
Argentina na na na: 13.50 10.50 12.79: 20.00 17.65 19.78
Australia na na na: 23.00 23.00 9.14: 31.50 33.00 14.48
Russia na na na: 35.00 38.50 34.49: 72.50 85.35 73.61
Ukraine na na na: 23.50 16.85 21.02: 33.00 25.42 29.17
Sorghum 32.0 13.0 30.0: na na na: na na na
Barley 55.0 72.0 80.0: na na na: na na na
Oats 27.0 38.0 37.0: na na na: na na na
Rice 34.2 43.7 28.7: 48.53 48.50 43.38:507.95 506.23 498.29

DJ USDA Report: Summary for U.S. Agriculture Supply, Demand Report
Following are key numbers from the USDA’s crop report and how the government’s estimates compared to analysts’ forecasts in a Wall Street Journal survey.
U.S. 2021 Production, Yield (million bushels, bushels per acre)
Friday’s Average USDA
Estimates Forecast Range August
Corn Production 14,996.0 14,897 14,667-15,116 14,750
Soybean Production 4,374.0 4,363 4,269-4,440 4,339
Friday’s Average USDA
Estimates Forecast Range August
Corn Yield 176.3 175.5 172.2-177.5 174.6
Soybean Yield 50.6 50.3 49.0-51.2 50.0
****
U.S. Stockpiles (million bushels)
2020-21
Friday’s Average USDA
Estimates Forecast Range August
Corn 1,187 1,159 1,091-1,224 1,117
Soybeans 175 166 140-199 160
2021-22
Friday’s Average USDA
Estimates Forecast Range August
Corn 1,408 1,329 1,018-1,545 1,242
Soybeans 185 178 132-245 155
Wheat 615 619 579-653 627
****
World Stockpiles (million metric tons)
2020-21
Friday’s Average USDA
Estimates Forecast Range August
Corn 286.5 281.0 279.9-282.0 280.8
Soybeans 95.1 92.5 89.2-93.4 92.8
Wheat 292.6 288.6 287.0-290.0 288.8
2021-22
Friday’s Average USDA
Estimates Forecast Range August
Corn 297.6 285.7 281.5-290.5 284.6
Soybeans 98.9 96.9 91.2-98.7 96.2
Wheat 283.2 278.9 276.0-288.0 279.1

DJ Australian Farm Sector on Track for Record Production as Prices Climb
By James Glynn
SYDNEY–Australia’s farm sector is on track for a record-breaking year with the value of gross production set to reach 73 billion Australian dollars (US$53.7 billion) in the year to mid-2022 as bumper harvests meet soaring commodity prices, according to the Australian Department of Agriculture, Water and the Environment.
The value of crop production is set to rise by 7% to A$39.5 billion because of another near-record winter crop harvest, combined with strong global prices for grain, sugar and cotton, the department’s third quarter report said Tuesday.
While there are risks related to mice, labor availability and continued uncertainties due to Covid-19, national production is expected to remain robust, it said.
The value of livestock production is also tipped to rise to A$33.5 billion, an increase of 8% from the year before.
The international market is tipped in Australia’s favor, as poor harvests in North America and Europe are pushing up the price of grain, the department said.
The biggest contribution to growth in exports will be crops, which are set to rise by 17% to A$30 billion, the report said.

DJ Brazil Soybean Planting Widens as Areas Receive More Rain — Market Talk
0912 ET – Brazilian farmers in parts of the southern state of Parana began planting soybeans this past week after enough rain fell to sustain the plants, according to agricultural consultancy AgRural. Planting has already begun in other southern states of the country, though at a slower pace than last year, AgRural said. Areas of other states including Mato Grosso, Mato Grosso do Sul and São Paulo, have also received some precipitation recently, and planting could begin in some regions of those states this week, the consultancy said. But high temperatures and forecasts for little rain in many other areas means most farmers in those states will probably wait longer for soil humidity levels to improve, AgRural said. The USDA has forecast Brazil will produce a record 144 million metric tons of soybeans in the 2021-2022 growing season, which is now getting underway. (jeffrey.lewis@wsj.com)

WHEAT
General Comments: Wheat was lower in Chicago on big fund selling but closed higher in Minneapolis in response to the USDA production estimates. Trends are now down on the daily and weekly charts and the weekly charts imply that big tops are now in the market. The demand has not been seen here, so ideas of increased ending stocks are around. Dry weather in southern Russia as well as the northern US Great Plains and Canadian Prairies remains a supportive feature in the market although the US and Canada are seeing some showers this week. Crop size estimates in Russia have been reduced and domestic Russian prices are above world prices. The Russian weather has been good for production in northern and western areas but is still trending dry in southern areas and into Kazakhstan. The weather in China and Europe is wet and there is potential for reduced quality in Europe. Europe is expecting top yields in some areas but less yield in others and parts of eastern Europe and northern Russia are expecting strong yields.
Overnight News: The southern Great Plains should get isolated showers. Temperatures should be near to above
normal. Northern areas should see mostly dry conditions. Temperatures will be near normal. The Canadian Prairies should see isolated showers or dry conditions. Temperatures should average near to below normal.
Chart Analysis: Trends in Chicago are down with objectives of 652 December. Support is at 677, 657, and 652 December, with resistance at 697, 706, and 714 December. Trends in Kansas City are down with objectives of 670, 659, and 638 December. Support is at 670, 659, and 643 December, with resistance at 697, 715, and 720 December. Trends in Minneapolis are down with objectives of 840 December. Support is at 862, 840, and 830 December, and resistance is at 890, 9203, and 915 December.

COT — Supplemental Report – Option and Futures Combined Positions as of September 07, 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 443,677
: Positions :
: 56,666 74,729 126,700 55,591 162,556 175,143 40,812 414,101 404,797: 29,576 38,879
: Changes from: August 31, 2021 (Change in open interest: -2,989) :
: 535 1,245 3,511 -576 -6,771 -5,742 -232 -2,271 -2,247: -718 -742
: Percent of Open Interest Represented by Each Category of Trader :
: 12.8 16.8 28.6 12.5 36.6 39.5 9.2 93.3 91.2: 6.7 8.8
: Total Traders: 382 Number of Traders in Each Category :
: 106 90 132 79 110 45 23 303 296:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 07, 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 256,768
: Positions :
: 66,300 49,967 53,603 42,483 125,235 73,112 8,623 235,499 237,428: 21,269 19,340
: Changes from: August 31, 2021 (Change in open interest: 6,024) :
: -1,778 1,852 5,608 4,032 -1,107 -2,040 149 5,822 6,503: 203 -478
: Percent of Open Interest Represented by Each Category of Trader :
: 25.8 19.5 20.9 16.5 48.8 28.5 3.4 91.7 92.5: 8.3 7.5
: Total Traders: 254 Number of Traders in Each Category :
: 63 50 58 61 85 36 13 188 184:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 7, 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 75,202 :
: Positions :
: 23,906 53,433 2,596 818 733 15,647 0 1,886 6,745 2,351 5,314 :
: Changes from: August 31, 2021 :
: 1,271 1,666 -577 11 30 -69 0 232 2,097 174 205 :
: Percent of Open Interest Represented by Each Category of Trader :
: 31.8 71.1 3.5 1.1 1.0 20.8 0.0 2.5 9.0 3.1 7.1 :
: Number of Traders in Each Category Total Traders: 120 :
: 42 45 4 . 4 22 0 5 18 11 14 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 7, 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 14,386 :
: Positions :
: 8,493 10,859 582 400 289 2,758 1,797 0 1,418 370 220 :
: Changes from: August 31, 2021 :
: 291 -4,087 -568 -200 289 -4,305 1,797 -1,050 751 -999 -627 :
: Percent of Open Interest Represented by Each Category of Trader :
: 59.0 75.5 4.0 2.8 2.0 19.2 12.5 0.0 9.9 2.6 1.5 :
: Number of Traders in Each Category Total Traders: 25 :
: 6 13 . . . 5 . 0 . . . :
—————————————————————————————————————-

RICE:
General Comments: Rice closed a little higher last week in part in response to the USDA production and WASDE reports. USDA showed reduced production and reduced ending stocks as the demand is expected to hold strong. Harvesting continues in Louisiana and Texas and will start to wind down in both states over the next couple of weeks. A delayed harvest is expected in Mississippi and Arkansas but a few producers are starting to harvest now. Yield reports and quality reports have been acceptable to many in Texas and are called good in Louisiana. The harvest pace is expected to be slow due to ongoing showers in both regions and farther into the north. Ideas of average yields are also heard in Arkansas and Mississippi. Growing conditions have been mixed at best with many areas getting too much rain.
Overnight News: The Delta should get isolated showers. Temperatures should be near to below normal.
Chart Analysis: Trends are mixed. Support is at 1326, 1320, and 1308 November, with resistance at 1348, 1358, and 1368 November.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 7, 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 8,366 :
: Positions :
: 5,675 4,773 140 100 0 637 1,500 2 463 717 259 :
: Changes from: August 31, 2021 :
: 264 -101 1 0 0 8 355 2 36 51 50 :
: Percent of Open Interest Represented by Each Category of Trader :
: 67.8 57.0 1.7 1.2 0.0 7.6 17.9 0.0 5.5 8.6 3.1 :
: Number of Traders in Each Category Total Traders: 52 :
: 14 17 . . 0 5 9 . 7 6 5 :
—————————————————————————————————————-

CORN AND OATS:
General Comments: Corn was higher in sell the rumor and buy the fact trading as USDA estimated yields, production, and ending stocks higher but close to trade expectations. Trends are now mixed on the daily charts but are still down on the weekly charts. Demand was increased to partially offset the increased production and ending stocks were just under 1.5 billion bushels. Most of the elevators along the Mississippi are starting to export again which is good news for nearby demand. The weather remains a feature of the trade but is less important now as the Corn is filling kernels and starting to mature. Ideas are that Brazil Corn production could be less than 85 million tons so reduced production estimates are expected in coming reports. Oats were lower yesterday on speculative profit taking before the USDA reports as the weather remains bad for production even with the crop near or in harvest.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 513, 504, and 498 December, and resistance is at 524, 530, and 543 December. Trends in Oats are mixed to down with objectives of 485 and 468 December. Support is at 484, 467, and 459 December, and resistance is at 502, 512, and 518 December.

COT — Supplemental Report – Option and Futures Combined Positions as of September 07, 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 1,824,181
: Positions :
: 237,970 81,207 433,355 530,268 995,190 474,558 83,029 1,676,152 1,592,781: 148,029 231,400
: Changes from: August 31, 2021 (Change in open interest: 18,135) :
: -6,719 16,262 4,702 26,352 -10,500 -9,764 1,790 14,571 12,254: 3,564 5,881
: Percent of Open Interest Represented by Each Category of Trader :
: 13.0 4.5 23.8 29.1 54.6 26.0 4.6 91.9 87.3: 8.1 12.7
: Total Traders: 847 Number of Traders in Each Category :
: 158 120 182 381 439 51 25 677 690:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 7, 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 5,010 :
: Positions :
: 1,114 3,029 97 0 0 598 122 0 496 12 278 :
: Changes from: August 31, 2021 :
: -104 -32 -4 0 0 93 29 0 -7 -62 -1 :
: Percent of Open Interest Represented by Each Category of Trader :
: 22.2 60.5 1.9 0.0 0.0 11.9 2.4 0.0 9.9 0.2 5.5 :
: Number of Traders in Each Category Total Traders: 26 :
: 9 8 . 0 0 5 . 0 6 . . :
—————————————————————————————————————-

SOYBEANS
General Comments: Soybeans closed a little lower last week in Soybeans and lower in Soybean Oil but higher in Soybean Meal. The big news came on Friday when USDA released its production and WASDE reports. The reports showed increased production and ending stocks estimates from last month but were broadly in line with trade expectations. Futures traded higher on Friday in a sell the rumor and buy the fact trading situation. FSA released the plantings reports early on Wednesday and Soybeans planted area was increased. The destruction of Gulf port facilities along the Mississippi River near New Orleans was still a factor in the trade but the elevators are coming on line and exports have started to resume. The hurricane moved onshore in Louisiana a week ago and did extensive damage to the state, including the grain export elevators. The state also lost electrical posser in all affected areas but power to the export elevators has started to be restored. Demand has held together despite the export problems but the export inspections report showed that very little is getting shipped right now as the exporters scramble to find other ports to send the grain. The weekly export sales report was also expected to be poor as many US exporters have had to pull offers for now Demand is still weaker than expected overall.
Overnight News: Unknown destinations bought 312,000 tons of US Soybeans.
Chart Analysis: Trends in Soybeans are mixed. Support is at 1263, 1241, and 1228 November, and resistance is at 1300, 1306, and 1309 November. Trends in Soybean Meal are mixed. Support is at 336.00, 333.00, and 331.00 October, and resistance is at 344.00, 349.00, and 354.00 October. Trends in Soybean Oil down with objectives of 5480 and 5210 October. Support is at 5480, 5420, and 5360 October, with resistance at 5660, 5730, and 5850 October

COT — Supplemental Report – Option and Futures Combined Positions as of September 07, 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 852,228
: Positions :
: 79,211 63,594 211,496 286,246 445,645 220,583 48,567 797,536 769,302: 54,692 82,926
: Changes from: August 31, 2021 (Change in open interest: -1,171) :
: -1,387 6 8,220 -8,725 -15,540 -1,285 1,736 -3,178 -5,577: 2,007 4,406
: Percent of Open Interest Represented by Each Category of Trader :
: 9.3 7.5 24.8 33.6 52.3 25.9 5.7 93.6 90.3: 6.4 9.7
: Total Traders: 589 Number of Traders in Each Category :
: 124 130 164 202 246 51 22 470 478:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 07, 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 460,098
: Positions :
: 60,809 35,940 114,513 123,927 269,510 130,906 17,843 430,156 437,807: 29,942 22,291
: Changes from: August 31, 2021 (Change in open interest: -10,278) :
: 289 986 -4,110 -3,122 -5,312 -4,671 -309 -11,613 -8,744: 1,335 -1,534
: Percent of Open Interest Represented by Each Category of Trader :
: 13.2 7.8 24.9 26.9 58.6 28.5 3.9 93.5 95.2: 6.5 4.8
: Total Traders: 309 Number of Traders in Each Category :
: 74 54 78 100 111 37 16 254 227:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 07, 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 398,937
: Positions :
: 40,694 60,773 69,081 132,441 226,669 105,776 11,251 347,991 367,774: 50,945 31,163
: Changes from: August 31, 2021 (Change in open interest: 14,658) :
: 852 18,783 10,515 6,390 -17,175 -6,516 -408 11,241 11,715: 3,417 2,944
: Percent of Open Interest Represented by Each Category of Trader :
: 10.2 15.2 17.3 33.2 56.8 26.5 2.8 87.2 92.2: 12.8 7.8
: Total Traders: 277 Number of Traders in Each Category :
: 47 62 72 105 89 36 16 237 201:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Palm Oil closed a little higher last week but well off of the highs of the week on demand concerns. Ideas of srong export demand, especially from India, kept futures higher today. Exports were not strong last month and the trade saw big ending stocks when MPOB released its monthly data last week. Ideas are that Palm Oil got too expensive when compared to the other vegetable oils markets. There are ideas of tight supplies due to labor problems. There are just not enough workers in the fields due to Coronavirus restrictions. Production has also been down to more than offset the export losses so prices have trended higher. Canola closed lower last week as the harvest is getting ready to start. Damaging weather continues in the Canadian Prairies and northern Great Plains and hot and dry are in the forecast for this week. Production ideas are down due to the extreme weather seen in these areas. It remains generally dry and warm in the Prairies. The Prairies crops are in big trouble now due to previous hot and dry weather. StatsCan released its stocks estimates and Canola stocks were above trade expectations.
Overnight News:
Chart Analysis: Trends in Canola are down with objectives of 816.00 and 804.00 November. Support is at 849.00, 830.00, and 823.00 November, with resistance at 884.00, 902.00, and 905.00 November. Trends in Palm Oil are mixed. Support is at 4150, 4050, and 3930 November, with resistance at 4370, 4480, and 4510 November.

DJ Malaysia Sept. 1-10 Palm Oil Exports 554,875 Tons, Up 50%, AmSpec Says
By Chester Tay
Malaysia’s palm oil exports during the Sept. 1-10 period are estimated up 50% on month at 554,875 metric tons, cargo surveyor AmSpec Agri Malaysia said Friday.
The following are the major items in the AmSpec estimate:
(All figures in metric tons)
Sept 1-10 Aug 1-10
RBD Palm Olein 203,710 125,935
RBD Palm Oil 27,470 25,183
RBD Palm Stearin 46,605 42,559
Crude Palm Oil 133,390 62,541
Total* 554,875 368,763
*Palm oil product volumes don’t add up to total as some products aren’t included.

DJ Malaysia’s August Palm Oil Exports 1.16M Tons; Down 17%, MPOB Says
Malaysia’s palm oil exports were down 17% on month at 1.16 million metric tons in August, the Malaysian Palm Oil Board said.
The following are details of the August crop data and revised numbers for July, issued by MPOB:
August July Change
On Month
Crude Palm Oil Output 1,702,430 1,522,703 Up 11.8%
Palm Oil Exports 1,162,812 1,402,042 Dn 17.06%
Palm Kernel Oil Exports 85,351 113,350 Dn 24.7%
Palm Oil Imports 91,408 54,381 Up 68.09%
Closing Stocks 1,874,746 1,496,463 Up 25.28%
Crude Palm Oil 950,711 703,881 Up 35.07%
Processed Palm Oil 924,035 792,582 Up 16.59%

DJ Alberta Harvest Makes Strong Gains, Is 43% Complete
WINNIPEG–Alberta farmers made good progress during the week ended Sept. 7, bringing the province-wide harvest of major crops to 43% complete. That was a 17-point improvement due to favorable weather conditions, according to Alberta Agriculture and Forestry.
The report noted the shift from “drier than normal” to “above normal” in the central and southern regions of the province.
Overall, topsoil moisture conditions rated 32% poor, 32%fair, 35% good and 1% excellent. Hail was reported during the week, which caused some crop damage.
The harvesting of the winter cereals was virtually complete with fall rye at 99% and winter wheat at 98%, the report said. The spring cereals were led by durum, of which 77% had been combined, followed by barley at 56%, spring wheat at 54% and oats at 30%.
Canola varied widely depending on the region of Alberta. At 36% in the bin, the south was in line with the canola harvests in Saskatchewan and Manitoba. However, the rest of the province ranged from 11% harvested in the north to 3% in the Peace River region.
The pulse harvest was coming within sight of completion, with dry peas 93% complete, and chickpeas and lentils both at 85%.
Yields for Alberta’s major crops were 50.1 bushels per acre for oats, 40.2 bushels for barley, spring wheat with 30.4 bushels, canola reaping 26.1 bushels and dry peas at 25.6 bushels, according to the report.
The province said the second cut of hay was almost halfway, but primarily limited to the south and Peace regions. The average yield was at one ton per acre, below the five-year average of 1.3 tons.
Pasture growth has remained minimal, and heavily grazed pastures were struggling to recover. Conditions were 55% poor, 28% fair and 17% good.
Source: Glen Hallick, Commodity News Service Canada, news@marketsfarm.com

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 7, 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 254,356 :
: Positions :
: 161,999 190,112 3,993 7,476 6,997 42,784 4,194 10,031 4,687 13,559 20,501 :
: Changes from: August 31, 2021 :
: -2,877 -955 222 -60 -135 558 -726 462 -34 -437 -202 :
: Percent of Open Interest Represented by Each Category of Trader :
: 63.7 74.7 1.6 2.9 2.8 16.8 1.6 3.9 1.8 5.3 8.1 :
: Number of Traders in Each Category Total Traders: 333 :
: 66 73 . 7 4 49 9 12 79 80 47 :
—————————————————————————————————————-

Midwest Weather Forecast: Isolated showers north and west, showers and storms south and east. Temperatures should average near normal.

US Gulf Cash Basis

Corn HRW SRW Soybeans Soybean Meal Soybean Oil
June July May May May
July July July July
Augustg July July July

DJ ICE Canada Cash Grain Close – Sep 10
WINNIPEG — The following are the closing cash canola prices
from ICE Futures.
Source: ICE Futures
1 Canada NCC Best Bid
Price Basis Contract Change
CANOLA
*Par Region 867.70 15.00 Nov. 2021 dn 28.80
Basis: Thunder Bay 903.70 50.00 Nov. 2021 up 11.00
Basis: Vancouver 938.70 85.00 Nov. 2021 up 1.00
All prices in Canadian dollars per metric tonne.
*Quote for previous day
Source: Commodity News Service Canada (news@marketsfarm.com,
or 204-414-9084)

DJ Malaysian PM Cash Market Prices for Palm Oil – Sept 13
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
Sept 1185.00 +07.50 Unquoted – –
Oct/Nov/Dec 1142.50 +10.00 Unquoted – –
Jan/Feb/Mar 1042.50 +07.50 Unquoted – –
Apr/May/Jun 977.50 +10.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Sept 1187.50 +07.50 Unquoted – –
Oct/Nov/Dec 1145.00 +10.00 Unquoted – –
Jan/Feb/Mar 1045.00 +07.50 Unquoted – –
Apr/May/Jun 980.00 +10.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Sept 1125.00 +15.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Sept 1025.00 +15.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sept 4,630.00 +30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sept 317.00 +02.00 Unquoted – –
($1=MYR4.149)

DJ China Dalian Grain Futures Closing Prices, Volume – Sep 13
Soybean No. 1
Turnover: 222,184 lots, or 13.15 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-21 5,900 5,900 5,880 5,880 5,841 5,881 40 23 247
Nov-21 5,926 5,960 5,884 5,915 5,873 5,917 44 161,875 148,006
Jan-22 5,915 5,948 5,897 5,934 5,886 5,920 34 40,816 56,120
Mar-22 5,899 5,941 5,887 5,931 5,879 5,914 35 6,233 21,935
May-22 5,922 5,949 5,908 5,942 5,889 5,931 42 1,093 2,828
Jul-22 5,884 5,923 5,880 5,910 5,863 5,904 41 12,144 4,825
Corn
Turnover: 1,018,726 lots, or 2.52 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-21 – – – 2,555 2,557 2,555 -2 0 3,718
Nov-21 2,481 2,505 2,477 2,489 2,483 2,490 7 90,578 194,123
Jan-22 2,459 2,484 2,455 2,477 2,459 2,471 12 824,087 906,391
Mar-22 2,475 2,503 2,475 2,497 2,479 2,491 12 58,832 169,357
May-22 2,508 2,531 2,507 2,528 2,511 2,520 9 26,261 67,921
Jul-22 2,521 2,541 2,519 2,535 2,523 2,531 8 18,968 30,581
Soymeal
Turnover: 1,446,846 lots, or 50.68 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-21 3,837 3,838 3,825 3,833 3,788 3,830 42 19 2,335
Nov-21 3,729 3,792 3,729 3,785 3,706 3,769 63 58,349 107,900
Dec-21 3,629 3,679 3,629 3,676 3,622 3,658 36 9,709 77,422
Jan-22 3,503 3,547 3,503 3,530 3,475 3,525 50 1,175,783 1,235,779
Mar-22 3,336 3,367 3,331 3,356 3,304 3,349 45 40,244 309,031
May-22 3,278 3,279 3,246 3,268 3,224 3,266 42 131,460 364,633
Jul-22 3,215 3,252 3,215 3,243 3,195 3,241 46 10,448 69,862
Aug-22 3,280 3,312 3,280 3,298 3,254 3,297 43 20,834 32,421
Palm Oil
Turnover: 932,181 lots, or 76.89 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-21 – – – 9,298 9,298 9,298 0 0 861
Oct-21 8,952 9,022 8,866 8,960 9,062 8,980 -82 2,459 7,605
Nov-21 8,872 9,022 8,824 8,962 9,004 8,948 -56 17,147 60,482
Dec-21 8,516 8,696 8,492 8,634 8,728 8,618 -110 17,323 63,531
Jan-22 8,154 8,346 8,132 8,268 8,344 8,254 -90 829,633 376,929
Feb-22 7,942 8,130 7,908 8,040 8,150 8,026 -124 22,134 54,102
Mar-22 7,712 7,966 7,712 7,872 7,976 7,878 -98 13,822 16,702
Apr-22 7,712 7,874 7,632 7,748 7,838 7,752 -86 12,762 19,030
May-22 7,572 7,720 7,528 7,650 7,704 7,634 -70 16,852 23,428
Jun-22 – – – 7,482 7,482 7,482 0 0 538
Jul-22 7,552 7,562 7,546 7,562 7,528 7,552 24 3 481
Aug-22 7,346 7,564 7,336 7,400 7,400 7,372 -28 46 1,241
Soybean Oil
Turnover: 895,239 lots, or 80.69 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-21 9,580 9,580 9,580 9,580 9,382 9,580 198 1 4,445
Nov-21 9,468 9,600 9,454 9,540 9,568 9,538 -30 38,066 88,472
Dec-21 9,312 9,378 9,232 9,288 9,354 9,298 -56 38,667 74,308
Jan-22 8,960 9,124 8,944 9,004 9,078 9,026 -52 750,037 469,571
Mar-22 8,524 8,740 8,524 8,628 8,706 8,642 -64 23,349 74,696
May-22 8,332 8,474 8,294 8,376 8,450 8,380 -70 25,968 78,545
Jul-22 8,216 8,324 8,158 8,236 8,320 8,244 -76 10,386 29,358
Aug-22 8,166 8,260 8,110 8,152 8,270 8,170 -100 8,765 16,034
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