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 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 Corn, Soybean Production (million bushels)
Tuesday’s Average USDA
USDA Est. Forecast Range Oct.
Corn Production 15,062.0 15,040 14,778-15,222 15,019
Corn Yield 177.0 176.8 174.5-178.9 176.5
Harvested Acres 85.1 85.1 84.6-85.3 85.1
Soybean Production 4,425.0 4,480 4,408-4,536 4,448
Soybean Yield 51.2 51.9 51.0-52.5 51.5
Harvested Acres 86.4 86.4 85.9-86.7 86.4
****
U.S. 2021-22 Stockpiles (millions)
Tuesday’s Average USDA
USDA Est. Forecast Range Oct.
Corn 1,493.0 1,482 1,320-1,675 1,500
Soybeans 340.0 360 285-449 320
Wheat 583.0 581 555-617 580
****
World Stockpiles (million metric tons)
2020-21
Tuesday’s Average USDA
USDA Est. Forecast Range Oct.
Corn 291.9 290.6 290.0-292.0 290.0
Soybeans 100.1 99.7 99.2-101.2 99.2
Wheat 288.0 287.8 286.0-288.4 288.4
2021-22
Tuesday’s Average USDA
USDA Est. Forecast Range Oct.
Corn 304.4 301.4 297.0-303.9 301.7
Soybeans 103.8 105.7 104.6-106.9 104.6
Wheat 275.8 277.1 274.0-282.0 277.2

DJ USDA Supply/Demand: Crop Summary – Nov 9
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 340.0 256.0 525.0:172.09 164.80 165.06:384.01 366.23 339.89
Brazil na na na: 94.00 81.65 92.14:144.00 138.00 128.50
Argentina na na na: 5.35 5.19 10.00: 49.50 46.20 48.80
China na na na: 0.10 0.07 0.09: 19.00 19.60 18.10
Soyoil 1,912 2,177 1,853: 12.58 12.24 12.31: 61.74 59.32 58.54
Corn 1,493 1,236 1,919:203.47 176.56 172.33: 1,205 1,119 1,120
China na na na: 0.02 0.00 0.01:273.00 260.67 260.78
Argentina na na na: 39.00 38.50 36.25: 54.50 50.50 51.00
S.Africa na na na: 3.20 3.20 2.55: 17.00 16.90 15.84
Cotton(a) 3.40 3.15 7.25: 46.61 48.41 41.23:121.79 112.16 121.40
All Wheat 583 845 1,028:203.16 202.25 194.33:775.28 774.66 762.21
China na na na: 1.00 0.76 1.05:136.90 134.25 133.60
European
Union na na na: 36.50 29.73 39.77:138.40 126.01 138.74
Canada na na na: 15.00 26.41 24.63: 21.00 35.18 32.67
Argentina na na na: 13.50 11.20 12.79: 20.00 17.65 19.78
Australia na na na: 23.50 24.50 9.14: 31.50 33.00 14.48
Russia na na na: 36.00 38.50 34.49: 74.50 85.35 73.61
Ukraine na na na: 24.00 16.85 21.02: 33.00 25.42 29.17
Sorghum 37.0 20.0 30.0: na na na: na na na
Barley 60.0 71.0 80.0: na na na: na na na
Oats 25.0 38.0 37.0: na na na: na na na
Rice 35.0 43.7 28.7: 49.66 49.58 43.41:511.72 507.30 498.91

DJ Ethanol Prices Climb on Strong Demand for Fuel as Drivers Hit Road
By Kirk Maltais
Demand for fuel as drivers return to the road is pushing ethanol prices close to an all-time high.
Prices for ethanol, the corn-based fuel that is a common additive to gasoline, have risen about 50% year to date, with the near-term contract trading at about $2.20 a gallon on the Chicago Board of Trade. The price pushed through $2 a gallon earlier this year, the first time since 2014 it has done so. August traffic on the streets was up 8% from last year, according to the U.S. Federal Highway Administration.
Gasoline prices are the highest they have been in seven years, hitting an average of $3.41 a gallon as of Nov. 8, according to data from the U.S. Energy Information Administration. The $1.31 increase from a year earlier has boosted profits for ethanol producers.
“We’ve seen the stars align in recent weeks,” said Geoff Cooper, chief executive of the Renewable Fuels Association. “Ethanol demand is hot right now.”
Commodity prices in general have been on the rise as fund traders have reached for a hedge on inflation. Agricultural prices have risen on the back of a snarled supply chain as well as higher input costs for crops.
Refineries, meanwhile, have been producing more fuel but haven’t been able to keep up with the demand.
Adjusted gasoline production for the week ended Oct. 29 totaled 10.2 million barrels a day, according to the EIA. That is a production increase of about 10% so far this year.
Daily production of ethanol in the U.S. is now at its highest level ever of roughly 1.11 million barrels a day, the EIA said.
At the onset of the Covid-19 pandemic, daily production fell to its all-time low last year. Orders for people to stay at home to limit the spread of Covid-19 kept drivers off the road, leading ethanol producers to halt production and close unprofitable plants.
Archer Daniels Midland Co., the Chicago-based agriculture company, reported that stronger operating margins for its corn-processing unit helped that segment produce a profit of $35 million in the company’s third quarter, compared with a loss of $11 million during the same period last year.
“The ethanol margins that we’re seeing right now in the market are extremely healthy,” said Ray Young, ADM’s chief financial officer, on the company’s earnings call. “And that is just reflective of a very tight supply-demand situation right now.”
While ADM forecasts that strong ethanol margins will continue through the rest of the year, it and Bunge Ltd. have said they are pulling back from the ethanol markets, finding alternatives for their processing facilities such as sustainable aviation fuel.
“We’re coming off of two years of really ugly margins,” said Mr. Cooper of the Renewable Fuels Association. “A couple of nice weeks in a row aren’t going to make them whole again.”
In the short term, corn prices are moving higher — with ethanol refineries hungry to consume what farmers harvest. Spot prices, the amount paid by those buying corn from farmers, are up in many Midwest locations and are at a premium to futures prices, according to data from StoneX Group.
“I think ethanol producers realize that the demand right now for the product is very strong,” said Phil Flynn, a senior analyst at Price Futures Group. “They’re willing to pay up a little bit to secure corn.”
The most-active corn contract on the Chicago Board of Trade is up nearly 15% year to date. The U.S. Agriculture Department, in its latest supply-and-demand report, adjusted higher its forecast for corn consumed domestically by the ethanol industry in the 2021-2022 marketing year by 50 million bushels, bringing the total to 5.25 billion bushels.
Skyrocketing prices for fertilizer ingredients could also be affecting the future supply, potentially pressuring farmers to plant less corn — a fertilizer-intensive crop — in favor of other crops such as soybeans, which require less fertilizer.
“There is little doubt that farmers will be adjusting their fertilizer applications lower or switching to soybeans with any acres they can in order to keep nitrogen costs under control,” said Sal Gilbertie, president of Teucrium Trading LLC.
Higher corn prices might in turn exacerbate inflation already seen in food prices. Poor harvests globally were the cause of a 3.2% uptick in grain prices in October, according to the United Nations Food and Agriculture Organization. High food costs have become a pressing issue in Latin America in particular.
Write to Kirk Maltais at Kirk.Maltais@wsj.com

DJ USDA Monthly Grain Inspections Exported by Rail – Nov 10
MS_GR210
Minneapolis, MN WED NOV 10, 2021 USDA MARKET NEWS
GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT BY RAIL TO CANADA AND MEXICO
REPORT FOR MONTH ENDING OCTOBER 2021
————————————————————————
Oct-21 Sep-21 Year to Date
CANADA Rail Cars Metric Tons Metric Tons Metric Tons
BARLEY 16 1,597 0 1,996
BARLEY MALTING 16 1,596 0 1,996
CORN WHITE 0 0 0 0
CORN YELLOW 0 0 0 11,376
RYE 0 0 0 0
FLAXSEED 0 0 0 0
SOYBEANS 457 45,604 0 45,604
WHEAT DU 0 0 0 0
WHEAT HDWH 0 0 0 0
WHEAT HRS 0 0 0 100
WHEAT HRW 0 0 0 1,597
WHEAT SRW 0 0 2,295 10,978
WHEAT SWW 0 0 2,195 3,193
WHEAT MIXED 0 0 0 100
MEXICO
BARLEY 0 0 0 0
BARLEY MALTING 0 0 0 16,066
CORN WHITE 40 3,992 299 208,469
CORN YELLOW 8,516 849,818 752,721 7,423,138
CORN MIXED 0 0 0 1,798
FLAXSEED 0 0 0 0
OATS 0 0 100 4,596
SORGHUM 0 0 10,478 22,054
WHT SORGHUM 0 0 0 2,496
SOYBEANS 4,594 458,439 178,824 R 2,575,302
SUNFLOWER 0 0 0 0
WHEAT DU 0 0 0 299
WHEAT HDWH 0 0 0 200
WHEAT HRS 157 15,669 52,591 467,138
WHEAT HRW 1,096 109,374 188,902 R 1,632,993
WHEAT SRW 117 11,675 35,029 198,198
WHEAT SWW 0 0 13,372 91,011
WHEAT UNCL 0 0 0 0
————————————————————————-
COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.
INFORMATION CONTAINED IN THIS REPORT REFLECTS EXPORTED GRAIN INSPECTED
AND
WEIGHED THROUGH GIPSA’S AUTHORITY UNDER THE U.S. GRAIN STANDARDS ACT.
NO ADDITIONAL ANALYSIS, COMPILATIONS OR DATA IS AVAILABLE.
R=Revised (YTD Revision Entails Past Month Revisions)
Year to Date is January to current or end of year
Wheat
DU=Durum
HDWH= Hard White
HRS=Hard Red Spring
HRW=Hard Red Winter
SRW=Soft Red Winter
SWW=Soft White
UNCL=Unclassed
Source: USDA, FGIS
USDA MARKET NEWS SERVICE
Niki Davila 503-535-5001 Nicole.davila@usda.gov
https://www.ams.usda.gov/mnreports/ms_gr210.txt
http://www.ams.usda.gov/market-news/livestock-poultry-grain

DJ CBOT Delivery Intentions: Totals – Nov 10
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
ROUGH RICE November Nov 11, 2021 41 Nov 09, 2021
SOYBEAN November Nov 11, 2021 343 Nov 04, 2021

WHEAT
General Comments: Wheat closed higher yesterday as the world market has held strong and as no real bearish news was seen in from the WASDE and USDA production reports. Trends are still generally sideways for the short term in all three markets. Ideas that the US will have good demand for Wheat as the rest of the northern hemisphere is short production this year. Offer volumes are down from both Russia and Europe. 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 weather has become old news. The Russian weather has been good for production in northern and western areas and has recently improved in southern areas and into Kazakhstan in time for the next crop. Siberian Spring Wheat conditions have been very good. 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. European quality is a problem due to too much rain in some areas and not enough in others.
Overnight News: The southern Great Plains should get some showers over the middle of the week. Temperatures should average near to above normal. Northern areas should see some showers over the middle of the week. Temperatures will average near to above normal. The Canadian Prairies should see mostly dry conditions but showers are possible over the middle of the week. Temperatures should average above normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 763, 745, and 744 December, with resistance at 790, 798, and 807 December. Trends in Kansas City are mixed . Support is at 785, 74, and 772 December, with resistance at 796, 804, and 814 December. Trends in Minneapolis are mixed. Support is at 1005, 984, and 980 December, and resistance is at 1034, 1060, and 1086 December.

RICE:
General Comments: Rice was higher again yesterday in part in response to the USDA reports and inflationary expectations. Weekly chart trends are sideways but imply futures could test resistance at the 1400 area basis the nearest futures contract in the near term. USDA increased yield estimates and production and made some changes to demand that left overall demand unchanged for increased ending stocks estimates of 35.2 million cwt. The market had been bracing for reduced demand and a more significant increase in ending stocks. The crop has been largely harvested in all states. Yield reports and quality reports have been acceptable to many in Texas and are called good in Louisiana. The reports have been good in both Arkansas and Mississippi. Milling yields have been generally low in both states.
Overnight News: The Delta should get showers late this week. Temperatures should be near to above normal.
Chart Analysis: Trends are up with objectives of 1399 and 1446 January. Support is at 1368, 1359, and 1350 January and resistance is at 1386, 1396, and 1414 January.

DJ USDA World Market Rice Prices – Nov 10
USDA today announced the prevailing world market prices
of milled and rough rice, adjusted for U.S. milling yields
and location, and the resulting marketing loan gain (MLG)
and loan deficiency payment LDP) rates. Source: USDA
—–World Price—– MLG/LDP Rate
Milled Value Rough Rough
($/cwt) ($/cwt) ($/cwt)
Long Grain 15.02 9.56 0.00
Medium/Short Grain 14.99 9.59 0.00
Brokens 9.53 —- —-

CORN AND OATS:
General Comments: Corn closed higher in reaction to the USDA reports and Oats closed lower. The reports for Corn showed increased production but increased ethanol and industrial demand to offset the production increases and more. There were fears of a bearish report as production was expected to increase a little bit and demand could get cut. But demand for export and for ethanol consumption has been great. Corn has relatively tight supplies as farmers are harvesting and not selling. Demand will be an increasing feature in the trade moving forward as the harvest moves to completion sometime this month. Initial yield reports have been mixed but good. Most of the elevators along the Mississippi are exporting again which is good news for nearby demand. There are a lot of ideas that production and planted and harvested area will be significantly less next year due to the lack of fertilizers available and the cost of production.
Overnight News:
Chart Analysis: Trends in Corn are down with objectives of 544 December. Support is at 548, 540, and 533 December, and resistance is at 569, 573, and 582 December. Trends in Oats are up mixed to down with objectives of 686, 627, and 486 December. Support is at 708, 686, and 649 December, and resistance is at 737, 775, and 780 December.

SOYBEANS
General Comments: Soybeans and the products closed higher yesterday in reaction to the USDA reports. USDA showed less than expected production and yield estimates and also cut export demand.. Reports indicate that the Brazil Soybean basis was now showing overall prices less than US values to places like China. Harvest has moved well past the half way point for Soybeans and a harvest low might have been hit this week. Reports indicate that farmers are limited sellers at best. Gulf port elevators are coming on line and export sales and exports are increasing. Planting and initial crop development is going very well in Brazil. It has been dry in Argentina but rain has been falling this week and conditions for planting and initial growth are improving.
Overnight News: Unknown destinations bought 22,000 tons of US Soybean Oil.
Chart Analysis: Trends in Soybeans are mixed. Support is at 1208, 1181, and 1168 January, and resistance is at 1241, 1243, and 1261 January. Trends in Soybean Meal are mixed. Support is at 341.00, 334.00, and 330.00 December, and resistance is at 347.00 350.00, and 357.00 December. Trends in Soybean Oil are mixed to down with objectives of 5680 December. Support is at 5750, 5700, and 5650 December, with resistance at 6050, 6140, and 6240 December.

CANOLA AND PALM OIL
General Comments: Palm Oil was sharply higher today as Soybean Oil moved higher and the export data from the private sources was called bullish. The market ignored the bearish monthly MPOB data.. Futures are still caught in a trading range. Support still comes from ideas that supply and demand are in balance or supplies are short. The weekly chart trends are up. 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 higher in rection to the USDA reports, but still could have topped out for now as the harvest is starting to wind down. Farmers are bullish and reluctant to sell because of the sharp reduction in Canola production in Canada this year. The weekly chart trends are up.
Overnight News:
Chart Analysis: Trends in Canola are mixed to up with objective of 1058.00 and 1192.00 January Support is at 9679.00, 961.00, and 949.00 January, with resistance at 1004.00, 1008.00, and 1020.00 January. Trends in Palm Oil are mixed to down with no objectives. Support is at 4710, 4630, and 4500 January, with resistance at 4850, 4970, and 5080 January.

DJ Malaysia Nov. 1-10 Palm Oil Exports Rose 8.7% to 543,944 Tons, AmSpec Says
Malaysia’s palm oil exports during the Nov. 1-10 period are estimated to have risen 8.7% on month to 543,944 metric tons, cargo surveyor AmSpec Agri Malaysia said Wednesday.
The following are the major items in the AmSpec estimate:
(All figures in metric tons)
Nov 1-10 Oct 1-10
RBD Palm Olein 148,130 114,310
RBD Palm Oil 31,420 35,000
RBD Palm Stearin 42,833 30,625
Crude Palm Oil 185,434 146,480
Total* 543,944 500,381
*Palm oil product volumes don’t add up to total as some products aren’t included.

DJ Malaysia’s October Palm Oil Exports Fell 12% to 1.42 Mln Tons, MPOB Says
Malaysia’s palm oil exports were down 12% on month at 1.42 million metric tons in October, the Malaysian Palm Oil Board said.
The following are details of the October crop data and revised numbers for September, issued by MPOB:
October September Change
On Month
Crude Palm Oil Output 1,725,837 1,703,740 Up 1.3%
Palm Oil Exports 1,417,868 1,611,800 Dn 12.03%
Palm Kernel Oil Exports 94,302 93,300 Up 1.07%
Palm Oil Imports 50,450 74,992 Dn 32.73%
Closing Stocks 1,834,103 1,756,404 Up 4.42%
Crude Palm Oil 986,168 930,654 Up 5.97%
Processed Palm Oil 847,935 825,750 Up 2.69%

Midwest Weather Forecast: Mostly dry early this week, some showers likely late this week. Temperatures should average near to above 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 – Nov 9
WINNIPEG — The following are the closing cash
canola prices from ICE Futures.
Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 1.002.40 25.00 Jan 2022 up 3.50
Basis: Thunder Bay 1,044.40 55.00 Jan 2022 up 12.00
Basis: Vancouver 1,069.40 80.00 Jan 2022 up 16.00
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 – November 10
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Wednesday, 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
Nov 1372.50 +35.00 Unquoted – –
Dec 1322.50 +45.00 Unquoted – –
Jan/Feb/Mar 1222.50 +32.50 Unquoted – –
Apr/May/Jun 1112.50 +27.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1375.00 +35.00 Unquoted – –
Dec 1325.00 +45.00 Unquoted – –
Jan/Feb/Mar 1225.00 +32.50 Unquoted – –
Apr/May/Jun 1115.00 +27.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1330.00 +20.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Nov 1210.00 +35.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 5,380.00 +80.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 504.00 +04.00 Unquoted – –
($1=MYR4.152)

DJ China Dalian Grain Futures Closing Prices, Volume – Nov 10
Soybean No. 1
Turnover: 267,885 lots, or 17.22 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-21 6,395 6,465 6,325 6,464 6,302 6,334 32 384 1,048
Jan-22 6,364 6,496 6,364 6,478 6,317 6,448 131 203,498 137,587
Mar-22 6,321 6,450 6,314 6,411 6,298 6,386 88 47,643 77,478
May-22 6,290 6,376 6,269 6,338 6,251 6,324 73 6,627 8,577
Jul-22 6,275 6,406 6,209 6,253 6,189 6,255 66 9,612 9,628
Sep-22 6,095 6,159 6,081 6,120 6,058 6,134 76 121 243
Corn
Turnover: 664,757 lots, or 18.11 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-21 2,700 2,703 2,700 2,703 2,690 2,700 10 196 281
Jan-22 2,721 2,734 2,715 2,727 2,708 2,724 16 473,121 790,172
Mar-22 2,721 2,732 2,714 2,718 2,706 2,722 16 42,048 216,226
May-22 2,735 2,735 2,713 2,721 2,716 2,723 7 113,769 266,667
Jul-22 2,718 2,727 2,710 2,718 2,711 2,719 8 33,814 81,110
Sep-22 2,717 2,722 2,709 2,711 2,706 2,714 8 1,809 9,396
Soymeal
Turnover: 1,073,277 lots, or 32.84 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-21 3,155 3,320 3,144 3,200 3,150 3,205 55 22 2,149
Dec-21 3,166 3,250 3,166 3,241 3,191 3,217 26 1,657 13,009
Jan-22 3,097 3,149 3,078 3,123 3,077 3,111 34 701,487 983,753
Mar-22 2,966 3,030 2,955 3,006 2,953 2,990 37 39,471 318,371
May-22 2,927 2,986 2,916 2,955 2,914 2,950 36 252,272 801,364
Jul-22 2,934 2,983 2,920 2,956 2,920 2,947 27 37,615 152,046
Aug-22 3,008 3,099 2,990 3,024 2,993 3,016 23 22,021 68,315
Sep-22 3,005 3,045 2,987 3,024 2,991 3,018 27 18,732 57,086
Palm Oil
Turnover: 908,399 lots, or 81.56 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-21 – – – 10,804 10,804 10,804 0 0 1,821
Dec-21 9,358 9,632 9,252 9,624 9,420 9,424 4 611 7,519
Jan-22 8,970 9,294 8,916 9,266 9,044 9,074 30 797,502 339,438
Feb-22 8,844 9,104 8,742 9,072 8,844 8,892 48 12,368 83,492
Mar-22 8,528 8,784 8,486 8,766 8,596 8,646 50 7,809 44,289
Apr-22 8,336 8,546 8,268 8,524 8,378 8,382 4 7,637 30,456
May-22 8,082 8,298 8,042 8,280 8,156 8,146 -10 81,263 88,078
Jun-22 7,908 8,122 7,874 8,100 7,966 7,986 20 662 6,159
Jul-22 7,854 7,878 7,850 7,868 7,980 7,864 -116 5 979
Aug-22 7,678 7,770 7,678 7,770 7,794 7,768 -26 201 3,589
Sep-22 7,550 7,704 7,462 7,678 7,574 7,582 8 330 664
Oct-22 7,492 7,580 7,492 7,546 7,664 7,532 -132 11 165
Soybean Oil
Turnover: 920,921 lots, or 83.86 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-21 – – – 9,932 9,932 9,932 0 0 996
Dec-21 9,468 9,674 9,380 9,642 9,664 9,468 -196 1,592 5,197
Jan-22 9,150 9,408 9,082 9,390 9,218 9,216 -2 775,694 381,237
Mar-22 8,708 8,962 8,644 8,930 8,776 8,786 10 19,427 118,606
May-22 8,400 8,666 8,364 8,642 8,486 8,498 12 109,316 184,955
Jul-22 8,182 8,386 8,098 8,366 8,194 8,218 24 6,620 73,971
Aug-22 8,116 8,338 8,052 8,320 8,150 8,176 26 7,535 24,931
Sep-22 8,012 8,246 7,976 8,246 8,090 8,104 14 737 2,035
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