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

WHEAT

General Comments:   Wheat markets were lower last week as the peace talks and the war between Ukraine and Russia have made some progress but look to drag on for a long time.  Trend are sideways on the daily charts.  Ukraine  said that Russia was making more realistic demands and Russia said some parts of an agreement were already agreed to by both sides.  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.  The US is revoking Most Favored Nation trading status for Russia.  Higher prices seem likely down the road.  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. 

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

Chart Analysis:  Trends in Chicago are mixed.  Support is at 1032, 985, and 961 May, with resistance at 1108, 1161, and 1164 May.  Trends in Kansas City are mixed.  Support is at 1035, 1006, and 981 May, with resistance at 1105, 1164, and 1200 May.  Trends in Minneapolis are mixed.  Support is at 1027, 1018, and 998 May, and resistance is at 1113, 1120, and 1138 May.

COT — Supplemental Report – Option and Futures Combined Positions as of March 15, 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   513,596

    : Positions                                                                               :

    :   44,108    81,581   165,660    58,913   180,426   211,001    45,552   479,681   473,219:   33,915    40,377

    : Changes from: March 8, 2022              (Change in open interest:      -5,262)         :

    :  -12,315    -2,202     3,137      -766    -2,008     4,384    -2,469    -5,559    -3,541:      297    -1,721

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

    :      8.6      15.9      32.3      11.5      35.1      41.1       8.9      93.4      92.1:      6.6       7.9

    : Total Traders:   344          Number of Traders in Each Category                        :

    :       90        72       110        84       120        51        21       283       271:

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

COT — Supplemental Report – Option and Futures Combined Positions as of March 15, 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   209,692

    : Positions                                                                               :

    :   30,946    15,388    41,919    36,788   117,990    77,857    12,543   187,510   187,841:   22,182    21,852

    : Changes from: March 8, 2022              (Change in open interest:      -4,688)         :

    :  -13,581    -3,853     1,121       125    -2,989     7,513     1,697    -4,822    -4,023:      134      -665

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

    :     14.8       7.3      20.0      17.5      56.3      37.1       6.0      89.4      89.6:     10.6      10.4

    : Total Traders:   220          Number of Traders in Each Category                        :

    :       52        31        51        57        83        37        16       169       162:

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

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 15, 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    67,915                :

: Positions                                                                                                    :

:   24,472    51,815     1,833     1,052       543    14,992       605       524     8,299       724     2,196 :

: Changes from:     March 8, 2022                                                                              :

:   -4,803    -2,324        40       186       224     1,464        -9      -279     1,293      -222        17 :

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

:     36.0      76.3       2.7       1.5       0.8      22.1       0.9       0.8      12.2       1.1       3.2 :

: Number of Traders in Each Category                                  Total Traders:   101                     :

:       48        43         4         .         5        20         .         .        10         .         6 :

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

RICE:                                              

General Comments:  Rice was lower last week and trends are turning down on the daily charts.  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.  Export demand was just average to below average again last week, but has been stronger overall, especially for Rough Rice.  Export sales were improved from a week ago.

Overnight News:  The Delta should get scattered showers. Temperatures should be near to above normal.

Chart Analysis:  Trends are mixed to down with objectives of 1528 and 1446 May.  Support is at 1548, 1543, and 1520 May and resistance is at 1589, 1628, and 1639 May.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 15, 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    10,395                :

: Positions                                                                                                    :

:    5,222     7,711       170         0         0     1,605       467         0       308     1,058       471 :

: Changes from:     March 8, 2022                                                                              :

:       81       -89       -61         0         0        49         0        -2         2       161        73 :

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

:     50.2      74.2       1.6       0.0       0.0      15.4       4.5       0.0       3.0      10.2       4.5 :

: Number of Traders in Each Category                                  Total Traders:    47                     :

:       15        17         .         0         0        11         .         0         4         5         5 :

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

CORN AND OATS:

General Comments:  Corn closed lower last week in sideways trading as Russia remains bogged down in its war with Ukraine.  Both sides in the conflict have said that peace talks could resume this week and that some progress and been made in talks already concluded.  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 summer Corn crop in South America has been hurt by drought, but some rains are reported now.  Corn has been slow to react because the bigger crop is the Winter crop in Brazil and that is expected to be large.  However, not all of the Winter crop has been planted and the bet weather window for Corn planting is passing by.  China has a Covid outbreak again and has closed some cities and some ports in response.  The moves are harsh but China has a no tolerance policy about the pandemic.  The closings of cities and ports will hurt the economy as people cant make or spend money and hurt imports as there will be fewer places to unload cargoes.  Shanghai has said it will remain open in contrast to much of the country and asked its office workers to work in a hybrid format much like was done in the US.

Overnight News:  

Chart Analysis:  Trends in Corn are mixed.  Support is at 727, 716, and 601 May, and resistance is at 759, 767, and 784 May.  Trends in Oats are up with objectives of 708 May.  Support is at 664, 645, and 626 May, and resistance is at 691, 702, and 708 May.

COT — Supplemental Report – Option and Futures Combined Positions as of March 15, 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 2,083,011

    : Positions                                                                               :

    :  339,732    43,688   464,550   511,526 1,247,326   569,378   102,346 1,885,186 1,857,910:  197,825   225,101

    : Changes from: March 8, 2022              (Change in open interest:      28,416)         :

    :  -32,714    -4,660    21,529     2,654     4,579    27,703     3,204    19,171    24,652:    9,245     3,764

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

    :     16.3       2.1      22.3      24.6      59.9      27.3       4.9      90.5      89.2:      9.5      10.8

    : Total Traders:   870          Number of Traders in Each Category                        :

    :      216        81       180       362       456        56        27       693       695:

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

SOYBEANS

General Comments:  Soybeans and both products were lower last week despite another week of strong export sales.  Ideas are that the Chinese economy could slow down due to the Covid lockdowns there and cause the country to purchase less Soybeans in the world market.  Shanghai has said it will remain open but asked office workers to work from home in a hybrid format.  The Ukraine-Russia 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.  Russia is also a major exporter of Crude Oil.  The US is now 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.  Russia and Ukraine announced that peace talks could continue.  Both sides said that some progress has been made in resolving the conflict.  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.  Argentina has suspended export registrations for Soybeans and products as it works to raise taxes on the Soy complex exports.  China has a Covid outbreak again and has closed some cities and some ports in response.  The moves are harsh but China has a no tolerance policy about the pandemic.  The closings of cities and ports will hurt the economy as people can’t make or spend money and hurt imports as there will be fewer places to unload cargoes.

Overnight News:  

Chart Analysis:  Trends in Soybeans are mixed to down with objectives of 1567, 1538, and 1467 May.  Support is at 1638, 1634, and 1597 May, and resistance is at 1698, 1706, and 1734 May.  Trends in Soybean Meal are mixed to up with objectives of 496.00 and 504.00 May.   Support is at 472.00, 468.00, and 455.00 May, and resistance is at 493.00 496.00, and 502.00 May.  Trends in Soybean Oil are mixed.  Support is at 7000, 6820, and 6790 May, with resistance at 7520, 7680, and 7730 May.

DJ Brazil Soybean Harvest Passes Two-Thirds Finished, Slowed by Rains — Market Talk

     0835 ET – Brazilian farmers practically finished their soybean harvesting in states including Mato Grosso, Goias and Sao Paulo, while heavy rains slowed progress in the state of Parana, according to agricultural consultancy AgRural. As of March 17, farmers had finished harvesting work on 69% of the estimated area planted with the oilseeds, up from 64% a week earlier and compared with 59% on the same date a year earlier, AgRural said. There are some concerns about excess humidity in the crop in Parana, though so far no reports of a negative impact on quality, the group said. Harvesting is still in early stages in the states of Maranhao, Tocantins, Piauí, Bahia and Rio Grande do Sul, which is normal for those states at this time of year, according to the consultancy. The quality of the soybeans being harvested in Rio Grande do Sul is reported to be very low because of the drought that hit crop development last year, AgRural said. (jeffrey.lewis@wsj.com)

COT — Supplemental Report – Option and Futures Combined Positions as of March 15, 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   999,098

    : Positions                                                                               :

    :  152,948    46,904   260,028   263,679   551,971   261,068    53,043   937,723   911,945:   61,375    87,152

    : Changes from: March 8, 2022              (Change in open interest:      -3,956)         :

    :  -20,915     2,262    -4,324      -361    -6,165    18,995     5,344    -6,604    -2,883:    2,648    -1,073

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

    :     15.3       4.7      26.0      26.4      55.2      26.1       5.3      93.9      91.3:      6.1       8.7

    : Total Traders:   646          Number of Traders in Each Category                        :

    :      186        95       162       217       279        54        22       512       510:

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

COT — Supplemental Report – Option and Futures Combined Positions as of March 15, 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   414,017

    : Positions                                                                               :

    :   74,446    15,186    65,807   102,769   295,528   134,650    15,777   377,672   392,297:   36,346    21,720

    : Changes from: March 8, 2022              (Change in open interest:      -4,214)         :

    :    1,317      -443    -5,148     2,878     2,585    -1,880    -1,783    -2,832    -4,789:   -1,382       575

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

    :     18.0       3.7      15.9      24.8      71.4      32.5       3.8      91.2      94.8:      8.8       5.2

    : Total Traders:   262          Number of Traders in Each Category                        :

    :       84        30        57        82        84        39        15       226       167:

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

COT — Supplemental Report – Option and Futures Combined Positions as of March 15, 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   447,497

    : Positions                                                                               :

    :   83,160     9,823    71,231    96,061   332,682   141,614    11,298   392,066   425,034:   55,431    22,463

    : Changes from: March 8, 2022              (Change in open interest:       8,171)         :

    :    3,989    -2,017     6,747    -5,107     1,582       231        40     5,860     6,352:    2,311     1,819

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

    :     18.6       2.2      15.9      21.5      74.3      31.6       2.5      87.6      95.0:     12.4       5.0

    : Total Traders:   276          Number of Traders in Each Category                        :

    :       90        27        59        89       101        41        13       238       183:

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

CANOLA AND PALM OIL

General Comments Palm Oil was lower as Indonesia decided not to force exporters to divert 30% oof the export demand into the domestic market and opted to increase export taxes instead.  Futures moved higher today on strength in US Soybean Oil futures and higher export duties noted in Indonesia.  Demand in Malaysia could improve soon as Indonesia is expected to keep most Palm Oil at home.  However, production from Malaysia is expected to increase as well as the Covid lockdowns finally go away and as the weather is good for production.  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.  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 a little lower along with Chicago Soybean Oil and Palm Oil and on 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.  Canada produced a very short crop of Canola last year so supplies are tight.

Overnight News:

Chart Analysis:  Trends in Canola are mixed.  Support is at 1100.00, 1085.00, and 1055.00 May, with resistance at 1139.00, 1144.00, and 1152.00 May.  Trends in Palm Oil are mixed.  Support is at 5600, 5550, and 5410 June, with resistance at 5880, 6100, and 6190 June.

DJ Malaysia March 1-20 Palm Oil Exports Fell 11.4%, SGS Says

  Malaysia’s palm oil exports during the March 1-20 period are estimated to have fallen 11.4% from the previous month to 723,997 metric tons, cargo surveyor SGS (Malaysia) said Monday.

  The following are the major items in the SGS estimate:

  (All figures in metric tons)

                              March 1-20        February 1-20

   RBD Palm Olein                300,557              230,288

   RBD Palm Oil                   49,995               64,740

   RBD Palm Stearin               70,686               69,490

   Crude Palm Oil                122,738              169,762

   Total*                        723,997              817,088

  *Palm oil product volumes don’t add up to total as some products aren’t included

  SGS Malaysia is a division of the Switzerland-based Societe Generale de Surveillance Group.

DJ Malaysia March 1-20 Palm-Oil Exports Fell 9.0%, AmSpec Says

  Malaysia’s palm-oil exports during the March 1-20 period are estimated to have fallen 9% on month to 744,841 metric tons, cargo surveyor AmSpec Agri Malaysia said Monday.

  The following are the major items in the AmSpec estimate:

  (All figures in metric tons)

                       March 1-20     February 1-20

   RBD Palm Olein         354,147           253,023

   RBD Palm Oil            70,025            74,600

   RBD Palm Stearin        69,860            73,620

   Crude Palm Oil         119,974           177,360

   Total*                 744,841           818,293

  *Palm-oil product volumes don’t add up to total as some products aren’t included.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 15, 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    47,983                :

: Positions                                                                                                    :

:   31,912    34,451     2,428     2,538     5,194        40         0         0     5,249     2,640     3,160 :

: Changes from:     March 8, 2022                                                                              :

:      445      -525        40     1,260       600         0         0         0       690       440       120 :

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

:     66.5      71.8       5.1       5.3      10.8       0.1       0.0       0.0      10.9       5.5       6.6 :

: 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 15, 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   158,665                :

: Positions                                                                                                    :

:   84,635   131,679     1,879     3,110     1,954    47,495     1,820     7,065     4,055     2,534     8,941 :

: Changes from:     March 8, 2022                                                                              :

:   -4,038    -4,475      -154       -73       127      -751      -192       509      -282      -687       671 :

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

:     53.3      83.0       1.2       2.0       1.2      29.9       1.1       4.5       2.6       1.6       5.6 :

: Number of Traders in Each Category                                  Total Traders:   242                     :

:       41        46         4         6         4        57        12        14        53        46        43 :

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

Midwest Weather Forecast:   Showers and rain.  Temperatures should average above normal.

US Gulf Cash Basis

 

 

 

 

 

 

 

 

Corn

HRW

SRW

Soybeans

Soybean Meal

Soybean Oil

March

200 Mar

250 May

155 May

195 May

April

195 May

250 May

155 May

195 May

May

175 May

250 May

150 May

195 May

 

 

DJ ICE Canada Cash Grain Close – Mar 18

     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         1125.20    -5.00     May  2022    up 16.30

Basis: Thunder Bay  1174.80    50.00     May  2022    dn  5.40

Basis: Vancouver    1184.80    60.00     May  2022    dn  5.40

     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 – March 21

  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

Apr             1687.50    +20.00      Unquoted    –        –

May             1557.50    -20.00      Unquoted    –        –

Jun             1527.50    +20.00      Unquoted    –        –

Jul/Aug/Sep     1412.50    +22.50      Unquoted    –        –

Oct/Nov/Dec     1382.50    +15.00      Unquoted    –        –

RBD palm olein, FOB,     Malaysian ports

                 Offer      Change      Bid        Change   Traded

Apr             1690.00     +20.00        Unquoted   –        –

May             1560.00     -20.00        Unquoted   –        –

Jun             1530.00     +20.00        Unquoted   –        –

Jul/Aug/Sep     1415.00     +22.50        Unquoted   –        –

Oct/Nov/Dec     1385.00     +15.00        Unquoted   –        –

RBD palm stearin, FOB,  Malaysian ports

                 Offer      Change       Bid       Change   Traded

Apr              1650.00   +20.00        Unquoted  –        –

Palm Fatty Acid Distillate, FOB Malaysian ports

                 Offer       Change       Bid       Change   Traded

Apr              1550.00     +20.00       Unquoted  –        –

Crude palm oil, Delivered Basis, South Malaysia

                 Offer       Change        Bid        Change   Traded

Apr              6500.00     +100.00       Unquoted   –        –

Palm kernel oil, Delivered Basis, South Malaysia

                 Offer      Change         Bid        Change   Traded

Apr              563.00     +03.00         Unquoted   –        –

($1=MYR4.203)

DJ China Dalian Grain Futures Closing Prices, Volume – Mar 21

Soybean No. 1

Turnover: 108,210 lots, or 6.73 billion yuan

            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open

                                                  Settle                                Interest

May-22     6,200     6,289     6,182     6,255     6,265     6,236       -29    12,549    19,716

Jul-22     6,232     6,298     6,180     6,255     6,271     6,238       -33    86,205   119,352

Sep-22     6,110     6,194     6,086     6,154     6,144     6,137        -7     1,586     5,025

Nov-22     5,951     6,005     5,891     5,964     5,958     5,943       -15     7,551    21,020

Jan-23     5,915     5,960     5,856     5,928     5,918     5,901       -17       297     1,231

Mar-23     5,870     5,872     5,848     5,872     5,895     5,857       -38        22        90

Corn

Turnover: 574,998 lots, or 16.69 billion yuan

            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open

                                                  Settle                                Interest

May-22     2,887     2,894     2,869     2,885     2,876     2,879         3   347,285   952,266

Jul-22     2,926     2,931     2,910     2,924     2,918     2,920         2    44,363   249,089

Sep-22     2,960     2,961     2,939     2,952     2,943     2,949         6   146,034   515,135

Nov-22     2,910     2,919     2,893     2,914     2,899     2,909        10    15,720    58,624

Jan-23     2,876     2,894     2,867     2,891     2,866     2,882        16     7,339    38,244

Mar-23     2,876     2,908     2,874     2,907     2,878     2,891        13    14,257     8,149

Soymeal

Turnover: 2,049,208 lots, or 86.06 billion yuan

            Open      High       Low     Close     Prev.    Settle       Ch.         Vol        Open

                                                  Settle                                    Interest

May-22     4,243     4,304     4,215     4,277     4,224     4,264        40   1,306,115   1,303,842

Jul-22     4,212     4,271     4,184     4,253     4,189     4,233        44     108,450     288,452

Aug-22     4,161     4,222     4,135     4,209     4,137     4,180        43      36,892     177,353

Sep-22     4,058     4,120     4,026     4,110     4,027     4,081        54     530,097     930,467

Nov-22     3,898     3,962     3,875     3,962     3,877     3,928        51      23,698      91,216

Dec-22     3,814     3,897     3,792     3,897     3,796     3,841        45       7,425      28,252

Jan-23     3,727     3,810     3,708     3,800     3,706     3,757        51      35,908      81,620

Mar-23     3,613     3,662     3,583     3,662     3,588     3,644        56         623         744

Palm Oil

Turnover: 1,013,472 lots, or 10.71 billion yuan

            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open

                                                  Settle                                Interest

Apr-22    11,976    12,100    11,562    11,902    12,234    11,784      -450       778     3,893

May-22    10,730    11,110    10,532    10,900    11,152    10,798      -354   731,937   312,272

Jun-22    10,422    10,756    10,246    10,614    10,784    10,510      -274    28,422    74,974

Jul-22    10,280    10,468     9,990    10,354    10,482    10,246      -236    15,721    53,931

Aug-22     9,906    10,248     9,806    10,168    10,238    10,102      -136     5,677    36,133

Sep-22     9,712    10,066     9,636     9,988    10,038     9,888      -150   222,840   142,843

Oct-22     9,604     9,880     9,458     9,822     9,860     9,740      -120     5,853     7,822

Nov-22     9,482     9,738     9,452     9,738     9,794     9,514      -280        36       327

Dec-22         –         –         –     9,696     9,704     9,696        -8         0       164

Jan-23     9,400     9,658     9,288     9,564     9,646     9,462      -184     2,202     3,729

Feb-23     9,452     9,528     9,450     9,528     9,614     9,486      -128         6       687

Mar-23         –         –         –     9,486     9,486     9,486         0         0         5

Soybean Oil

Turnover: 580,023 lots, or 59.24 billion yuan

            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open

                                                  Settle                                Interest

May-22    10,204    10,426    10,150    10,290    10,460    10,298      -162   302,452   294,458

Jul-22    10,150    10,386    10,102    10,264    10,398    10,280      -118    34,283   129,423

Aug-22    10,060    10,308    10,020    10,204    10,306    10,222       -84    14,871    73,241

Sep-22     9,990    10,220     9,912    10,130    10,182    10,104       -78   204,972   226,514

Nov-22     9,900    10,098     9,782     9,988    10,046     9,976       -70    16,697    20,584

Dec-22     9,854    10,008     9,752     9,934     9,960     9,930       -30     5,233     7,062

Jan-23     9,740     9,952     9,680     9,856     9,876     9,826       -50     1,469     2,917

Mar-23     9,758     9,868     9,558     9,738     9,758     9,698       -60        46        68

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