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 – Mar 7

Source: CME Group

               Contract                        Quantity   Next Trade

Commodity      Month      Delivery Day   Assigned Today   Date Available

ROUGH RICE     March      Mar 08, 2022               38   Mar 03, 2022

CORN           March      Mar 08, 2022               17   Feb 25, 2022

KC HRW WHEAT   March      Mar 08, 2022               62   Feb 28, 2022

WHEAT          March      Mar 08, 2022              163   Mar 04, 2022

 

DJ March Brazil, Argentina Corn, Soybean Production Estimates – Survey

  The following are analysts’ estimates in millions of metric tons for Brazil and Argentina corn and soybean production for 2021-22, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release its monthly estimates on Wednesday at noon ET.

Brazil Corn, Soybean Production (million metric tons)

                            Average       Range    USDA February  USDA 2020-21

Corn                         112.9     110.0-116.1     114.0          87.0

Soybeans                     128.2     121.2-134.0     134.0         138.0

                              Corn       Soybeans

AgriSompo                    110.5         128.0

Allendale                    114.0         130.0

DC Analysis                  114.0         123.0

Doane                        112.0         125.0

EDF Man

Futures Intl                 113.0         129.0

Linn Group                   113.0         129.0

Sid Love Consulting

Midland Research             110.0         130.0

Midwest Market Solutions

Northstar                    113.0         130.0

Prime Ag                     114.0         134.0

Risk Mgmt Commodities Inc.   114.0         128.5

StoneX                       116.1         121.2

US Commodities Inc.          112.0         128.0

Western Milling              112.0         130.0

Zaner Ag                     112.5         129.5

Argentina Corn, Soybean Production (million metric tons)

                            Average        Range     USDA February  USDA 2020-21

Corn                          52.0       50.0-54.0       54.0           51.5

Soybeans                      42.9       40.0-45.0       45.0           46.2

                              Corn       Soybeans

AgriSompo                     53.5         44.5

Allendale                     52.0         43.0

DC Analysis                   51.0         40.0

Doane                         50.0         40.0

EDF Man

Futures Intl                  52.0         42.5

Linn Group                    50.0         42.0

Sid Love Consulting

Midland Research              51.0         42.0

Midwest Market Solutions

Northstar                     53.5         43.5

Prime Ag                      54.0         45.0

Risk Mgmt Commodities Inc.    53.0         44.5

StoneX                        51.0         44.0

US Commodities Inc.           51.0         43.0

Western Milling               53.0         42.0

Zaner Ag                      53.5         45.0

 

DJ March World Grain, Soybean Stockpiles Estimates — Survey

  The following are analysts’ estimates in millions of metric tons for world grain and soybean ending stockpiles for 2021-22, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Wednesday at noon ET.

World 2021-22 Stockpiles (million metric tons)

                          Average     Range    USDA February  USDA 2020-21

Corn                      299.6    293.0-302.2    302.2          292.1

Soybeans                   88.9     86.3-92.0      92.8          100.4

Wheat                     278.0    275.6-280.0    278.2          289.9

                                     2021-22

                           Corn     Soybeans      Wheat

AgriSompo                 300.7       86.5        277.0

Allendale                 299.8       90.0        277.0

Futures Intl              299.0       87.5        277.6

Linn Group                293.0       87.8        280.0

Northstar                 300.0       89.5        278.0

Prime Ag                  302.0       92.0        280.0

Risk Mgmt Commodities Inc 298.0       88.0        276.0

StoneX                    302.2       86.3        275.6

US Commodities Inc.       300.5       92.0        279.0

Western Milling           300.0       89.0        279.0

Zaner Ag                  300.7       89.6        278.7

 

DJ U.S. March Grain, Soybean Stockpiles Estimates — Survey

  The following are analysts’ estimates in millions of bushels for U.S. ending stockpiles for 2021-22, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Wednesday at noon ET.

U.S. 2021-22 Stockpiles (millions)

                           Average      Range    USDA February  USDA 2020-2021

Corn                        1,476    1,350-1,540     1,540         1,235

Soybeans                      270      182-325         325           257

Wheat                         633      598-661         648           845

                                       2021-22

                            Corn      Soybeans       Wheat

AgriSompo                   1,465        290          629

Allendale                   1,465        270          636

DC Analysis                 1,390        235          628

Doane                       1,440        210          630

Futures Intl                1,515        275          633

Linn Group                  1,350        249          648

Midland Research            1,440        275          613

Northstar                   1,450        290          640

Prime Ag                    1,540        325          648

Risk Mgmt Commodities Inc   1,480        275          638

RJ O’Brien                  1,509        255          661

StoneX                      1,483        182          628

US Commodities Inc.         1,540        305          608

Vantage RM                  1,500        310          598

Western Milling             1,511        285          634

Zaner Ag                    1,540        290          648

 

WHEAT

General Comments:   Wheat markets mostly traded freely on Friday for much of the session but still closed with strong gains on the day on more reports that the Russian invasion was taking longer and was more bloody than expected.  Chicago May opened locked limit up and never traded below that level as short funds and other speculators try to get out of these positions.  Wheat closed sharply higher for the week due to the potential loss of up to a third of the available export supply to the world market.  Ports are closed in Ukraine and Russian shippers and exporters are not offering in part due to sanctions but mostly due to the war and the chance to lose ships.  Plus, Russian internal markets are frozen and it will take some time to get going again.  Mr Biden said that the US would not embargo Crude Oil or agricultural products trade from the world market but the lack of Russian offers makes an embargo a moot point right now.  Higher prices seem likely down the road.  Mr Putin appears to have decided that Ukraine will be part of Russia and should never have been allowed to leave the Soviet Union.  Ukraine is fighting but will be badly outnumbered.  The human losses are going to be high for both sides in this conflict.   Ukrainians have no interest in living under Russian occupation so the war could be deadly and very costly to both sides.  Russia and Ukraine are both major Wheat exporters so the Wheat market could be damaged.  

Overnight News:  The southern Great Plains should get mostly dry conditions.  Temperatures should average above normal.  Northern areas should see isolated showers in northern areas. Temperatures will average near to above normal.  The Canadian Prairies should see isolated to scattered showers.  Temperatures should average below normal.

Chart Analysis:  Trends in Chicago are up with no objectives.  Support is at 1174, 1070, and 981058 May, with resistance at 1212, 1224, and 1236 May.  Trends in Kansas City are up with no objectives.  Support is at 1158, 1076, and 1006 May, with resistance at 1232, 1244, and 1256 May.  Trends in Minneapolis are up with objectives of 1224 May.  Support is at 1114, 1052, and 1029 May, and resistance is at 1178, 1190, and 1202 May.

COT — Supplemental Report – Option and Futures Combined Positions as of March 01, 2022

    :                                    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   508,287

    : Positions                                                                               :

    :   56,495    87,793   157,334    67,863   179,100   191,964    42,140   473,656   466,367:   34,630    41,919

    : Changes from: February 22, 2022          (Change in open interest:      36,374)         :

    :    6,908    -2,120    18,243     4,041    16,703     9,622     5,482    38,813    38,307:   -2,440    -1,934

    : Percent of Open Interest Represented by Each Category of Trader                         :

    :     11.1      17.3      31.0      13.4      35.2      37.8       8.3      93.2      91.8:      6.8       8.2

    : Total Traders:   366          Number of Traders in Each Category                        :

    :      105        79       125        74       116        49        25       290       292:

——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of March 01, 2022

    :                                    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   234,174

    : Positions                                                                               :

    :   44,801    23,640    56,522    38,416   118,444    69,496    11,827   209,235   210,433:   24,939    23,741

    : Changes from: February 22, 2022          (Change in open interest:         208)         :

    :    3,142    -1,022     4,124    -4,833      -725       -75       614     2,358     2,991:   -2,149    -2,783

    : Percent of Open Interest Represented by Each Category of Trader                         :

    :     19.1      10.1      24.1      16.4      50.6      29.7       5.1      89.4      89.9:     10.6      10.1

    : Total Traders:   227          Number of Traders in Each Category                        :

    :       60        35        54        57        80        34        17       175       166:

——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 1, 2022

:                                             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    71,037                :

: Positions                                                                                                    :

:   30,954    51,586     2,086       447       411    13,119     2,517     1,784     5,511       550     2,074 :

: Changes from:     February 22, 2022                                                                          :

:    1,070     2,865      -386       447       161     2,524    -1,095    -1,555      -324      -424       343 :

: Percent of Open Interest Represented by Each Category of Trader                                              :

:     43.6      72.6       2.9       0.6       0.6      18.5       3.5       2.5       7.8       0.8       2.9 :

: Number of Traders in Each Category                                  Total Traders:    94                     :

:       45        39         5         .         4        14         4         4        10         .         7 :

—————————————————————————————————————-

RICE:                                              

General Comments:  Rice was higher again Friday and higher for the week and trends are up on the daily and weekly charts.  The market gave back much of the price gains by the close but still closed higher.  The buying was due to the Russian invasion of Ukraine as the situation seems to get worse by the day and looks like it will take some time to resolve.  The cash market is showing that domestic mill business is around everywhere in good volumes.  Producer sales are reported to have been way ahead of average early in the marketing year so stocks on hand in first hands are reported to be lower than normal.

Overnight News:  The Delta should get mostly dry conditions. Temperatures should be near to above normal.

Chart Analysis:  Trends are up with objectives of 1712 May.  Support is at 1646, 1605 and 1577 May and resistance is at 1680, 1700, and 1712 May.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 1, 2022

:                                             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     9,641                :

: Positions                                                                                                    :

:    4,679     7,290       253         0         0     1,557       467         0       443       751       417 :

: Changes from:     February 22, 2022                                                                          :

:      149       268       -38         0         0       173         0        -2       141       152      -193 :

: Percent of Open Interest Represented by Each Category of Trader                                              :

:     48.5      75.6       2.6       0.0       0.0      16.1       4.8       0.0       4.6       7.8       4.3 :

: Number of Traders in Each Category                                  Total Traders:    49                     :

:       15        16         .         0         0        12         .         0         5         6         6 :

—————————————————————————————————————-

CORN AND OATS:

General Comments:  Corn closed higher as Russia remains bogged down in its war with Ukraine.  It was a higher day for Corn with Wheat sharply higher but Soybeans mostly lower.  The potential loss of Ukraine exports of Corn makes the world situation tighter and could be enough to keep Corn prices trending higher for now.  Ukraine might not plant much if any Corn this Summer, too.  Russia is also a Corn exporter and no product is moving from either country at this time  Crop losses in South America are noted.  The Soybeans harvest farther north is being somewhat delayed due to wet weather and this might affect planting of the Safrinha crop in Brazil.  Planted area there as well as in the US is in question due to the high costs and the lack of availability of inputs for growing a successful crop.

Overnight News: 

Chart Analysis:  Trends in Corn are up with objectives of 813 May.  Support is at 726, 716, and 691 May, and resistance is at 784, 792, and 804 May.  Trends in Oats are mixed.  Support is at 646, 626, and 613 May, and resistance is at 683, 697, and 702 May.

COT — Supplemental Report – Option and Futures Combined Positions as of March 01, 2022

    :                                    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 1,977,728

    : Positions                                                                               :

    :  354,000    60,237   435,076   457,688 1,172,944   533,304    89,295 1,780,068 1,757,553:  197,660   220,175

    : Changes from: February 22, 2022          (Change in open interest:      30,408)         :

    :  -12,306   -19,376    39,657       390    12,818     2,967     3,993    30,709    37,092:     -301    -6,684

    : Percent of Open Interest Represented by Each Category of Trader                         :

    :     17.9       3.0      22.0      23.1      59.3      27.0       4.5      90.0      88.9:     10.0      11.1

    : Total Traders:   861          Number of Traders in Each Category                        :

    :      201        93       169       355       451        54        24       677       681:

——————————————————————————————————————-

SOYBEANS

General Comments:  Soybeans and both products were lower on Friday on long liquidation and some selling by Brazilian and US producers and going against the war between Ukraine and Russia heating up and as Russia got into a longer war than anticipated in Ukraine.  The war has supported Soybeans and world vegetable oils as Russia and Ukraine both export Sunflower Oil.  The two countries account for about 80% of all world Sun oil exports.  The US is not real interested in curbing Russian exports as part of the sanctions but nothing is moving from either country as the companies effectively embargo themselves from doing business in either country.  The world situation is still tightening as Brazil and Argentina are getting into the harvest of less Soybeans.  Paraguay might import Soybeans this year from Argentina.  Higher Soybeans prices are still possible due to the war and the overall supply and demand situation.

Overnight News:  China bought 132,000 tons of US Soybeans.

Chart Analysis:  Trends in Soybeans are mixed.  Support is at 1634, 1597, and 1579 May, and resistance is at 1699, 1724, and 1759 May.  Trends in Soybean Meal are mixed.   Support is at 443.00, 436.00, and 429.00 May, and resistance is at 470.00 475.00, and 487.00 May.  Trends in Soybean Oil are mixed.  Support is at 7000, 6820, and 6790 May, with resistance at 7460, 7730, and 7820 May.

COT — Supplemental Report – Option and Futures Combined Positions as of March 01, 2022

    :                                    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 1,007,315

    : Positions                                                                               :

    :  184,589    44,590   260,788   257,926   555,503   242,548    53,087   945,851   913,969:   61,464    93,346

    : Changes from: February 22, 2022          (Change in open interest:     -29,625)         :

    :   -5,128      -265     3,101   -19,335   -28,166    -2,557       645   -23,919   -24,686:   -5,705    -4,938

    : Percent of Open Interest Represented by Each Category of Trader                         :

    :     18.3       4.4      25.9      25.6      55.1      24.1       5.3      93.9      90.7:      6.1       9.3

    : Total Traders:   639          Number of Traders in Each Category                        :

    :      181        91       170       203       280        48        24       495       514:

——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of March 01, 2022

    :                                    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   439,766

    : Positions                                                                               :

    :   70,844    24,258    87,600   102,161   288,790   141,148    16,010   401,752   416,658:   38,014    23,108

    : Changes from: February 22, 2022          (Change in open interest:     -17,674)         :

    :     -771    -6,312    -8,472    -8,146      -369     2,437       657   -14,953   -14,496:   -2,722    -3,178

    : Percent of Open Interest Represented by Each Category of Trader                         :

    :     16.1       5.5      19.9      23.2      65.7      32.1       3.6      91.4      94.7:      8.6       5.3

    : Total Traders:   268          Number of Traders in Each Category                        :

    :       82        40        66        78        82        40        19       230       182:

——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of March 01, 2022

    :                                    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   452,265

    : Positions                                                                               :

    :   78,572    15,024    79,155   102,250   323,244   139,538    10,880   399,515   428,303:   52,750    23,962

    : Changes from: February 22, 2022          (Change in open interest:     -36,903)         :

    :   -2,023    -2,539   -21,960    -7,024    -9,724    -2,142       570   -33,148   -33,652:   -3,755    -3,251

    : Percent of Open Interest Represented by Each Category of Trader                         :

    :     17.4       3.3      17.5      22.6      71.5      30.9       2.4      88.3      94.7:     11.7       5.3

    : Total Traders:   283          Number of Traders in Each Category                        :

    :       87        34        66        90        99        40        13       242       191:

——————————————————————————————————————-

CANOLA AND PALM OIL

General Comments Palm Oil was sharply lower on Friday on reports that India is importing 14% less Palm Oil this year due to high prices and despite ideas the Russian invasion of Ukraine are still bullish factors.  Futures had been dramatically higher earlier in the week due to the war and the potential loss of 80% of the worlds export supply of Sun oil to the market.  Demand for export was stronger last month.  Demand in Malaysia could improve soon as Indonesia is expected to keep most Palm Oil at home.  Indonesia is once again making moves to cut the availability of Palm Oil for export as it seeks to keep more at home for bio fuels purposes.  There are still poor production conditions in Malaysia and Indonesia.  Traders are mostly worried about demand from India who has been buying Soybean Oil in the US instead of Palm Oil from Malaysia and Indonesia and is also worried about China and its demand for Palm Oil for bio fuels.  Canola was higher along with Chicago and Malaysia and despite ideas of reduced Sunflower export potential from Russia and Ukraine due to the war  The market is worried about South American production as well.  Canola chart patterns were much like those for Soybeans last week.

Overnight News:

Chart Analysis:  Trends in Canola are mixed.  Support is at 1055.00, 1044.00, and 1024.00 May, with resistance at 1092.00, 1104.00, and 1116.00 May.  Trends in Palm Oil are mixed.  Support is at 6000, 5810, and 5710 May, with resistance at 6860, 7060, and 7110 May.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 1, 2022

:                                             Reportable Positions                                             :

:————————————————————————————————————- :

: Producer/Merchant :                             :                             :                              :

:  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :

:   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading :

—————————————————————————————————————-

USD MALAYSIAN CRUDE PALM OIL – CHICAGO MERCANTILE EXCHANGE   (CONTRACTS OF 25 METRIC TONS)                     :

CFTC Code #037021                                                    Open Interest is    42,721                :

: Positions                                                                                                    :

:   29,500    34,249     3,062     1,612     3,220        80         0         0     4,979     1,760     1,880 :

: Changes from:     February 22, 2022                                                                          :

:   -3,557       923       366      -164    -1,394      -160         0         0     1,669    -2,441      -895 :

: Percent of Open Interest Represented by Each Category of Trader                                              :

:     69.1      80.2       7.2       3.8       7.5       0.2       0.0       0.0      11.7       4.1       4.4 :

: Number of Traders in Each Category                                  Total Traders:    20                     :

:        5         7         .         .         4         .         0         0         .         4         . :

—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 1, 2022

:                                             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   163,767                :

: Positions                                                                                                    :

:   86,914   132,623     2,027     3,354     1,469    52,502     6,072     6,519     4,534     5,150     7,092 :

: Changes from:     February 22, 2022                                                                          :

:    4,431     1,774       358    -2,388       211    -4,973       279     1,386      -111      -535       347 :

: Percent of Open Interest Represented by Each Category of Trader                                              :

:     53.1      81.0       1.2       2.0       0.9      32.1       3.7       4.0       2.8       3.1       4.3 :

: Number of Traders in Each Category                                  Total Traders:   244                     :

:       46        40         4         6         4        58        12        16        65        35        44 :

—————————————————————————————————————-

Midwest Weather Forecast:   Mixed precipitation.  Temperatures should average near normal.

US Gulf Cash Basis

 

 

 

 

 

 

 

 

Corn

HRW

SRW

Soybeans

Soybean Meal

Soybean Oil

March

140 Mar

No Quote

150 Mar

No Quote

April

125 May

240 Myay

145 May

130 May

May

120 May

240 May

145 May

No Quote

 

 

DJ ICE Canada Cash Grain Close – Mar 4

     WINNIPEG – The following are the closing cash canola prices from

ICE Futures for March 4, 2022.

     Source:  ICE Futures

CANOLA

1 Canada NCC Best Bid

                 Spot Price    Basis  Contract     Change

*Par Region        1,091.30     8.00    May 22   up 22.00

Basis: Thunder Bay 1,129.80    55.00    May 22   dn  8.50

Basis: Vancouver   1,134.80    60.00    May 22   dn  8.50

*Quote for previous day

Source: Commodity News Service Canada (Phil Franz-Warkentin,

news@marketsfarm.com, or 204-414-9084)

 

DJ Malaysian PM Cash Market Prices for Palm Oil – March 7

  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

Mar             1807.50      +40.00    Unquoted    –        –

Apr/May/Jun     1687.50      +30.00    Unquoted    –        –

Jul/Aug/Sep     1452.50      +30.00    Unquoted    –        –

RBD palm olein, FOB,     Malaysian ports

                 Offer      Change      Bid        Change   Traded

Mar              1810.00     +40.00     Unquoted   –        –

Apr/May/Jun      1690.00     +30.00     Unquoted   –        –

Jul/Aug/Sep      1455.00     +30.00     Unquoted   –        –

RBD palm stearin, FOB,  Malaysian ports

                 Offer      Change       Bid       Change   Traded

Mar              1770.00     00.00      Unquoted  –        –

Palm Fatty Acid Distillate, FOB Malaysian ports

                 Offer       Change       Bid       Change   Traded

Mar              1665.00     +25.00      Unquoted  –        –

Crude palm oil, Delivered Basis, South Malaysia

                 Offer       Change        Bid        Change   Traded

Mar              7200.00   +300.00       Unquoted   –        –

Palm kernel oil, Delivered Basis, South Malaysia

                 Offer      Change         Bid        Change   Traded

Mar              610.00     +02.00         Unquoted   –        –

($1=MYR4.176)

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