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 Summary for March USDA Monthly Cattle on Feed Data

  Data from the U.S. Department of Agriculture’s monthly cattle-on-feed report, released at  3:00 p.m. ET Friday, and analysts’ estimates as compiled by the Wall Street Journal. In million head.

                       Numbers          USDA’s       Average        Range

                    2022     2021     estimated    of analysts’  of analysts’

                                     % of prev yr   estimates     estimates

On-feed Mar 1    12.163M   12.000M      101         101.1      100.8- 101.5

Placed in Feb     1.848M    1.691M      109         106.5      104.5- 109.8

Marketed in Feb   1.825M    1.739M      105         104.3      103.3- 104.5

 Note: USDA rounds its estimates to the nearest whole number.

WHEAT

General Comments:   Wheat markets were higher last week as the war between Ukraine and Russia continued and looked to last a long time.  The weekly export sales report showed slow business for the US once again, but Egypt announced it was talking to the US and other countries about filling the void in the marketplace left by the lack of Ukrainian or Russian offers.  Trends are sideways on the daily charts.  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.  Ukraine can rail the exports to the EU for shipment but the amount that can be moved is very limited.  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 scattered showers.  Temperatures should average above normal.  Northern areas should see mostly dry conditions. Temperatures will average above normal.  The Canadian Prairies should see mostly dry conditions.  Temperatures should average near normal.

Chart Analysis:  Trends in Chicago are mixed.  Support is at 1065, 1056, and 1032 May, with resistance at 1169, 1207, and 1285 May.  Trends in Kansas City are mixed.  Support is at 1074, 1035, and 1006 May, with resistance at 1156, 1164, and 1200 May.  Trends in Minneapolis are mixed.  Support is at 1071, 1059, and 1050 May, and resistance is at 1123, 1138, and 1153 May.

COT — Supplemental Report – Option and Futures Combined Positions as of March 22, 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   518,617

    : Positions                                                                               :

    :   45,613    86,868   167,653    57,754   178,438   211,887    46,850   482,907   479,809:   35,711    38,809

    : Changes from: March 15, 2022             (Change in open interest:       5,021)         :

    :    1,505     5,287     1,993    -1,159    -1,988       886     1,298     3,226     6,590:    1,795    -1,569

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

    :      8.8      16.7      32.3      11.1      34.4      40.9       9.0      93.1      92.5:      6.9       7.5

    : Total Traders:   345          Number of Traders in Each Category                        :

    :       88        73       112        83       122        52        23       282       278:

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

COT — Supplemental Report – Option and Futures Combined Positions as of March 22, 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   208,907

    : Positions                                                                               :

    :   31,986    15,697    43,493    34,529   115,224    77,688    12,692   187,697   187,107:   21,211    21,800

    : Changes from: March 15, 2022             (Change in open interest:        -785)         :

    :    1,040       309     1,574    -2,259    -2,765      -169       148       187      -734:     -972       -51

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

    :     15.3       7.5      20.8      16.5      55.2      37.2       6.1      89.8      89.6:     10.2      10.4

    : Total Traders:   219          Number of Traders in Each Category                        :

    :       51        32        54        56        82        37        16       169       162:

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

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 22, 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    68,469                :

: Positions                                                                                                    :

:   24,740    51,744     1,806     1,204       543    14,801       579       397     8,058     1,138     2,635 :

: Changes from:     March 15, 2022                                                                             :

:      268       -71       -27       152         0      -191       -26      -127      -241       414       439 :

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

:     36.1      75.6       2.6       1.8       0.8      21.6       0.8       0.6      11.8       1.7       3.8 :

: Number of Traders in Each Category                                  Total Traders:   102                     :

:       52        43         4         .         4        17         .         .        10         5         9 :

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

RICE:                                              

General Comments:  Rice was higher last week and closed strong.  There is a lot of concern about the high costs of raising Rice and that there could be less acres planted in the US for this reason.  Trends are up 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 stronger again this week, and has been stronger overall, especially for Rough Rice.

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

Chart Analysis:  Trends are up with objectives of 1655 and 1712 May.  Support is at 1605, 1583, and 1571 May and resistance is at 1644, 1684, and 1700 May.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 22, 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    10,252                :

: Positions                                                                                                    :

:    5,251     7,562       175         0         0     1,469       467         0       305     1,104       435 :

: Changes from:     March 15, 2022                                                                             :

:       28      -149         5         0         0      -136         0         0        -3        46       -37 :

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

:     51.2      73.8       1.7       0.0       0.0      14.3       4.6       0.0       3.0      10.8       4.2 :

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

:       15        16         .         0         0        10         .         0         4         6         5 :

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

CORN AND OATS:

General Comments:  Corn closed higher last week and trends are sideways on the daily charts as Russia remains bogged down in its war with Ukraine.  There was little new to send prices higher but the war and ideas of good demand helped keep prices supported.  The export sales report showed demand just below a million tons in the weekly report released yesterday and this is down from recent weeks.  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 and already has trouble exporting it or Wheat.  The ports remain closed and Ukraine can rail out to the EU in limited amounts.  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.  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:  Unknown destinations bought 127,920 tons of US Corn.

Chart Analysis:  Trends in Corn are mixed.  Support is at 743, 727, and 716 May, and resistance is at 770, 784, and 792 May.  Trends in Oats are up with objectives of 762 and 804 May.  Support is at 720, 694, and 681 May, and resistance is at 746, 752, and 764 May.

COT — Supplemental Report – Option and Futures Combined Positions as of March 22, 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 2,149,285

    : Positions                                                                               :

    :  346,252    41,557   498,742   518,693 1,261,785   580,679   105,925 1,944,366 1,908,009:  204,919   241,277

    : Changes from: March 15, 2022             (Change in open interest:      66,274)         :

    :    6,520    -2,131    34,192     7,167    14,458    11,302     3,580    59,180    50,098:    7,094    16,176

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

    :     16.1       1.9      23.2      24.1      58.7      27.0       4.9      90.5      88.8:      9.5      11.2

    : Total Traders:   862          Number of Traders in Each Category                        :

    :      215        82       186       362       451        56        26       696       692:

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

SOYBEANS

General Comments:  Soybeans and the products were higher last week on better demand for US Soybeans caused by dry weather in South America and as the war in Ukraine dragged on and as supplies available to the export market from South America remain limited.  The weekly export sales report showed demand below 500,000 tons for Soybeans and negative net sales for Soybean Oil.  China has been a major buyer of US Soybeans this year after a very slow start due to the problems in South America.  They are buying for this year and already have booked a large amount of new crop Soybeans to cover future needs.  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.  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 to up with objectives of 1724, 1742, and 1789 May.  Support is at 1685, 1677, and 1647 May, and resistance is at 1739, 1768, and 1780 May.  Trends in Soybean Meal are mixed.   Support is at 485.00, 479.00, and 472.00 May, and resistance is at 496.00 502.00, and 508.00 May.  Trends in Soybean Oil are mixed to up.  Support is at 7300, 7200, and 7000 May, with resistance at 7680, 7730, and 7820 May.

COT — Supplemental Report – Option and Futures Combined Positions as of March 22, 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 1,016,326

    : Positions                                                                               :

    :  157,514    45,442   263,154   264,157   566,917   268,107    50,858   952,933   926,370:   63,394    89,956

    : Changes from: March 15, 2022             (Change in open interest:      17,229)         :

    :    4,566    -1,462     3,127       478    14,946     7,039    -2,185    15,210    14,425:    2,018     2,804

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

    :     15.5       4.5      25.9      26.0      55.8      26.4       5.0      93.8      91.1:      6.2       8.9

    : Total Traders:   638          Number of Traders in Each Category                        :

    :      191        86       162       210       277        54        21       506       501:

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

COT — Supplemental Report – Option and Futures Combined Positions as of March 22, 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   415,464

    : Positions                                                                               :

    :   70,198    16,786    70,549   102,097   291,523   134,300    16,422   377,143   395,280:   38,321    20,184

    : Changes from: March 15, 2022             (Change in open interest:       1,447)         :

    :   -4,249     1,600     4,742      -672    -4,005      -350       645      -529     2,982:    1,976    -1,536

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

    :     16.9       4.0      17.0      24.6      70.2      32.3       4.0      90.8      95.1:      9.2       4.9

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

    :       79        37        64        78        85        39        16       225       177:

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

COT — Supplemental Report – Option and Futures Combined Positions as of March 22, 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   457,776

    : Positions                                                                               :

    :   82,898    11,955    79,161    98,263   332,711   142,636    11,297   402,957   435,123:   54,819    22,653

    : Changes from: March 15, 2022             (Change in open interest:      10,279)         :

    :     -262     2,131     7,930     2,202        29     1,022         0    10,891    10,089:     -612       190

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

    :     18.1       2.6      17.3      21.5      72.7      31.2       2.5      88.0      95.1:     12.0       4.9

    : Total Traders:   277          Number of Traders in Each Category                        :

    :       89        30        68        87        99        40        13       240       188:

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

CANOLA AND PALM OIL

General Comments Palm Oil was  higher last week on what appeared to be speculative buying tied to ideas that prices had become relatively cheap.  It was lower today on price action in outside markets and as China is closing down for Covid reasons again.  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 manages high internal prices.  Canola was higher and closed at new highs for the move last week despite the selling seen in Chicago Soybean Oil and on ideas of reduced Sunflower export potential from Russia and Ukraine due to the war   The Canadian Dollar moves were more important. The market is worried about South American production as well.  Canada produced a very short crop of Canola last year so supplies are tight.  Prices are still in the latest trading range but at the top end of the range and appear poised to work higher.

Overnight News:

Chart Analysis:  Trends in Canola are mixed to up with objectives of 1185, 1194, and 1224 May.  Support is at 1120.00, 1100.00, and 1085.00 May, with resistance at 1178.00, 1188.00, and 1200.00 May.  Trends in Palm Oil are mixed to up with objectives of 6570 and 6740 June.  Support is at 5940, 5600, and 5550 June, with resistance at 6100, 6380, and 6500 June.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of March 22, 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   163,526                :

: Positions                                                                                                    :

:   85,464   134,640     1,936     3,109     1,960    48,342     2,405     6,726     5,581     2,265    10,787 :

: Changes from:     March 15, 2022                                                                             :

:      829     2,961        57        -1         6       847       584      -340     1,526      -269     1,846 :

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

:     52.3      82.3       1.2       1.9       1.2      29.6       1.5       4.1       3.4       1.4       6.6 :

: Number of Traders in Each Category                                  Total Traders:   258                     :

:       42        49         4         6         4        59         9        14        62        49        46 :

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

Midwest Weather Forecast:   Mostly dry.  Temperatures should average below 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 25

     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         1143.60    -5.00     May  2022    up 11.90

Basis: Thunder Bay  1189.40    50.00     May  2022    dn  9.20

Basis: Vancouver    1199.40    60.00     May  2022    dn  9.20

     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 28

  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             1707.50    -05.00      Unquoted    –        –

May             1607.50    -05.00      Unquoted    –        –

Jun             1557.50    +05.00      Unquoted    –        –

Jul/Aug/Sep     1417.50    -02.50      Unquoted    –        –

Oct/Nov/Dec     1387.50    -02.50      Unquoted    –        –

RBD palm olein, FOB,     Malaysian ports

                 Offer      Change      Bid        Change   Traded

Apr             1710.00     -05.00      Unquoted   –        –

May             1610.00     -05.00      Unquoted   –        –

Jun             1560.00     +05.00      Unquoted   –        –

Jul/Aug/Sep     1420.00     -02.50      Unquoted   –        –

Oct/Nov/Dec     1390.00     -02.50      Unquoted   –        –

RBD palm stearin, FOB,  Malaysian ports

                 Offer      Change       Bid       Change   Traded

Apr              1640.00    -05.00        Unquoted  –        –

Palm Fatty Acid Distillate, FOB Malaysian ports

                 Offer       Change       Bid       Change   Traded

Apr              1510.00     -25.00       Unquoted  –        –

Crude palm oil, Delivered Basis, South Malaysia

                 Offer       Change        Bid        Change   Traded

Apr              6680.00     -20.00        Unquoted   –        –

Palm kernel oil, Delivered Basis, South Malaysia

                 Offer      Change         Bid        Change   Traded

Apr              560.00     +02.00         Unquoted   –        –

($1=MYR4.215)

DJ China Dalian Grain Futures Closing Prices, Volume – Mar 28

Soybean No. 1

Turnover: 121,106 lots, or 7.50 billion yuan

            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open

                                                  Settle                                Interest

May-22     6,206     6,266     6,151     6,153     6,229     6,210       -19    11,580    16,079

Jul-22     6,220     6,270     6,156     6,158     6,238     6,218       -20    98,200   129,553

Sep-22     6,089     6,146     6,037     6,037     6,115     6,088       -27     1,631     6,061

Nov-22     5,939     5,968     5,876     5,876     5,931     5,927        -4     9,295    21,536

Jan-23     5,896     5,925     5,846     5,850     5,894     5,885        -9       386     1,672

Mar-23     5,862     5,894     5,826     5,826     5,863     5,869         6        14       106

Corn

Turnover: 863,425 lots, or 25.21 billion yuan

            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open

                                                  Settle                                Interest

May-22     2,887     2,914     2,858     2,863     2,895     2,884       -11   471,431   854,635

Jul-22     2,939     2,965     2,912     2,916     2,944     2,939        -5    95,591   284,931

Sep-22     2,975     2,998     2,947     2,950     2,973     2,970        -3   269,932   664,197

Nov-22     2,941     2,960     2,934     2,938     2,944     2,944         0    11,915    59,343

Jan-23     2,943     2,959     2,943     2,957     2,941     2,952        11     8,282    45,798

Mar-23     2,956     2,977     2,956     2,976     2,956     2,971        15     6,274    12,979

Soymeal

Turnover: 2,538,214 lots, or 10.79 billion yuan

            Open      High       Low     Close     Prev.    Settle       Ch.         Vol        Open

                                                  Settle                                    Interest

May-22     4,351     4,371     4,254     4,260     4,388     4,313       -75   1,292,156     967,844

Jul-22     4,320     4,346     4,238     4,243     4,364     4,295       -69     135,725     282,463

Aug-22     4,288     4,319     4,229     4,231     4,346     4,283       -63      52,531     174,292

Sep-22     4,230     4,237     4,154     4,160     4,247     4,196       -51     952,651   1,201,212

Nov-22     4,061     4,087     4,023     4,026     4,097     4,055       -42      27,901      90,421

Dec-22     3,966     3,998     3,944     3,944     4,010     3,975       -35      14,477      26,599

Jan-23     3,879     3,910     3,853     3,858     3,912     3,886       -26      61,884     110,920

Mar-23     3,740     3,765     3,708     3,708     3,770     3,743       -27         889       2,499

Palm Oil

Turnover: 798,823 lots, or 88.57 billion yuan

            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open

                                                  Settle                                Interest

Apr-22    12,602    12,828    12,552    12,672    12,562    12,660        98       111     1,473

May-22    11,600    11,832    11,438    11,580    11,500    11,614       114   467,140   282,195

Jun-22    11,162    11,364    11,030    11,150    11,094    11,200       106    24,370    75,426

Jul-22    10,722    10,932    10,658    10,752    10,722    10,794        72    11,394    61,490

Aug-22    10,408    10,614    10,352    10,412    10,408    10,484        76     8,524    38,076

Sep-22    10,200    10,388    10,122    10,168    10,178    10,254        76   277,351   175,764

Oct-22    10,006    10,202     9,942     9,998    10,000    10,066        66     8,746     9,834

Nov-22     9,890    10,000     9,890     9,930     9,852     9,918        66        17       278

Dec-22     9,798     9,842     9,798     9,842     9,752     9,812        60         6       115

Jan-23     9,626     9,822     9,626     9,660     9,690     9,722        32     1,131     5,778

Feb-23     9,640     9,640     9,568     9,604     9,594     9,586        -8         6       670

Mar-23     9,526     9,640     9,472     9,472     9,562     9,556        -6        27        31

Soybean Oil

Turnover: 685,671 lots, or 70.10 billion yuan

            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open

                                                  Settle                                Interest

May-22    10,304    10,450    10,240    10,284    10,290    10,338        48   181,767   217,194

Jul-22    10,234    10,406    10,194    10,250    10,246    10,298        52    25,250   122,616

Aug-22    10,166    10,368    10,134    10,206    10,210    10,248        38     8,138    72,313

Sep-22    10,108    10,300    10,060    10,130    10,132    10,182        50   447,935   316,177

Nov-22     9,974    10,164     9,950    10,014    10,022    10,058        36    14,606    24,278

Dec-22     9,898    10,090     9,898     9,952     9,966     9,984        18     6,282     8,242

Jan-23     9,830    10,036     9,830     9,866     9,908     9,928        20     1,677     5,416

Mar-23     9,710     9,838     9,708     9,758     9,704     9,782        78        16       319

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