About The Author

Jack Scoville

Jack Scoville is an often quoted market analyst in the grain and soft commodities sectors. You will find his commentary throughout the Reuters, Wall Street Journal, Dow Jones, Bloomberg, and Barron's publications. Contact Mr. Scoville at (312) 264-4322

DJ USDA Report: Summary for U.S. Agriculture Supply, Demand Report
WASHINGTON–The following are key numbers from USDA’s crop report
and how the government’s estimates compared to analysts’ forecasts in a
Wall Street Journal survey.
U.S. 2022 Corn, Soybean Production, Yield (million bushels, bushels per acre)
Friday’s
Estimate Average Range USDA May
Corn Production 14,460 14,442 14,283-14,542 14,460
Soybean Production 4,640 4,638 4,610-4,655 4,640
Friday’s
Estimate Average Range USDA May
Corn Yield 177.0 * 177.0 175.0-178.1 177.0
Soybean Yield 51.5 * 51.5 51.4-52.0 51.5
***
U.S. Stockpiles (million bushels)
2021-22
Friday’s
Estimate Average Range USDA May
Corn 1,485 1,438 1,386-1,485 1,440
Soybeans 205 217 175-235 235
Wheat 655 661 645-693 655
2022-23
Friday’s
Estimate Average Range USDA May
Corn 1,400 1,337 1,198-1,425 1,360
Soybeans 280 295 250-355 310
Wheat 627 622 580-725 619
***
World Stockpiles (million metric tons)
2021-22
Friday’s
Estimate Average Range USDA May
Corn 310.9 308.9 298.0-311.0 309.4
Soybeans 86.2 85.0 83.1-86.2 85.2
Wheat 279.4 278.9 272.0-281.3 279.7
2022-23
Friday’s
Estimate Average Range USDA May
Corn 310.5 305.0 300.0-309.4 305.1
Soybeans 100.5 99.8 97.5-102.9 99.6
Wheat 266.9 267.6 260.0-277.2 267.0
***
2022-23 Wheat Production (million bushels)
Friday’s
Estimate Average Range USDA May
All Wheat 1,737 1,726 1,628-1,810 1,729
Winter Wheat 1,182 1,181 1,157-1,220 1,174
Hard Red Winter 582 594 571-685 590
Soft Red Winter 358 357 344-375 354
White Winter 242 229 170-245 230
***
2021-2022
Brazil Production (million metric tons)
Friday’s
Estimate Average Range USDA May
Corn 116.0 114.6 110.0-116.8 116.0
Soybeans 126.0 124.8 123.0-125.5 125.0
Argentina Production (million metric tons)
Friday’s
Estimate Average Range USDA May
Corn 53.0 52.2 50.0-53.5 53.0
Soybeans 43.4 42.2 41.0-43.0 42.0

DJ USDA Supply/Demand: Crop Summary – Jun 10
U.S. ending stocks in million bushels, except soyoil in million pounds,
cotton in million (480 pound) bales and rice in million cwt. Exports and
Production in million metric tons except cotton in million (480 pound) bales.
Projections based on trends and analysts’ judgments, not survey
date. Source: USDA’s World Agricultural Outlook Board.
======U.S.====== ================WORLD=======================
Ending Stocks Exports Production
22/23 21/22 20/21: 22/23 21/22 20/21: 22/23 21/22 20/21
Soybeans 280.0 205.0 257.0:170.31 155.90 164.51:395.37 351.99 368.13
Brazil na na na: 88.50 82.25 81.65:149.00 126.00 139.50
Argentina na na na: 4.70 2.75 5.20: 51.00 43.40 46.20
China na na na: 0.10 0.10 0.07: 17.50 16.40 19.60
Soyoil 1,681 1,951 2,131: 12.80 12.35 12.57: 61.51 59.43 59.17
Corn 1,400 1,485 1,235:182.67 196.73 182.87: 1,186 1,216 1,129
China na na na: 0.02 0.02 0.00:271.00 272.55 260.67
Argentina na na na: 41.00 39.00 40.94: 55.00 53.00 52.00
S.Africa na na na: 3.70 3.20 3.80: 17.30 16.30 16.95
Cotton(a) 2.90 3.40 3.15: 47.48 45.17 48.51:121.27 116.94 111.48
All Wheat 627 655 845:204.59 199.39 203.34:773.43 779.03 775.71
China na na na: 0.90 0.85 0.76:135.00 136.95 134.25
European
Union na na na: 36.00 29.50 29.74:136.10 138.42 126.69
Canada na na na: 24.00 15.50 26.43: 33.00 21.65 35.18
Argentina na na na: 14.00 16.50 11.53: 20.00 22.15 17.64
Australia na na na: 24.00 27.50 23.85: 30.00 36.30 33.30
Russia na na na: 40.00 33.00 39.10: 81.00 75.16 85.35
Ukraine na na na: 10.00 19.00 16.85: 21.50 33.01 25.42
Sorghum 24.0 33.0 20.0: na na na: na na na
Barley 83.0 60.0 71.0: na na na: na na na
Oats 34.0 28.0 38.0: na na na: na na na
Rice 34.2 38.5 43.7: 54.20 52.91 50.93:515.35 513.67 509.29

DJ USDA Grain Inspections for Export in Metric Tons – Jun 13
*** This report will not be published on Monday, June 20, 2022
due to Federal holiday.***
COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.
INFORMATION CONTAINED IN THIS REPORT REFLECTS EXPORTED GRAIN INSPECTED AND
WEIGHED THROUGH THE AUTHORITY UNDER THE U.S. GRAIN STANDARDS ACT.
NO ADDITIONAL ANALYSIS, COMPILATIONS OR DATA IS AVAILABLE
GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT
REPORTED IN WEEK ENDING JUN 09, 2022
— METRIC TONS —
————————————————————————-
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 06/09/2022 06/02/2022 06/10/2021 TO DATE TO DATE
BARLEY 0 0 710 0 710
CORN 1,199,976 1,458,519 1,610,988 44,956,885 54,219,312
FLAXSEED 0 0 0 0 0
MIXED 0 0 0 0 0
OATS 0 0 0 0 0
RYE 0 0 0 0 0
SORGHUM 140,003 207,953 151,285 6,468,775 6,422,914
SOYBEANS 605,129 365,455 141,320 50,473,191 57,048,412
SUNFLOWER 0 0 0 2,260 240
WHEAT 388,847 355,340 499,945 615,556 694,430
Total 2,333,955 2,387,267 2,404,248 102,516,667 118,386,018
————————————————————————-
CROP MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND
FLAXSEED; SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.
INCLUDES WATERWAY SHIPMENTS TO CANADA

WHEAT
General Comments: Winter Wheat markets were higher last week as the focus remained on Russia and Ukraine. Minneapolis Spring Wheat markets were up the l4east as conditions got a little better in the northern US and Canada. USDA noted mostly stable conditions for the Winter Wheat crops on Monday but noted Spring Wheat planting remained far behind average. The Winter Wheat harvest is underway in the US. USDA released its monthly supply and demand updates on Friday and US production of Winter Wheat was increased against trade ideas of a production cut. Demand increased a little bit as well so ending stocks were trimmed slightly for the current and the next crop. World ending stocks levels were increased slightly on bigger stocks in Ukraine and Russia. The government in Russia said again that it was willing to discuss terms with the west for shipments of Ukraine grain to get safe passage, but ideas are that the terms Russia will ask for will be so onerous that they will be rejected. The UN said negotiations are making progress but there was still a long way to go before any deal could be concluded. The US western Great Plains got some rainfall and the rains fell in some of the areas most in need of some precipitation. Hot and dry weather could return this week. It is turning warmer and drier farther north to give hope to Spring Wheat farmers that they can plant crops. Europe is too hot and dry and India and Pakistan are both past major heat waves and dry conditions.
Overnight News: The southern Great Plains should get mostly dry conditions. Temperatures should average above normal. Northern areas should see isolated showers or dry conditions. Temperatures will average above normal. The Canadian Prairies should see isolated showers. Temperatures should average above normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 1044, 1037, and 1027 July, with resistance at 1108, 1115, and 1134 July. Trends in Kansas City are mixed. Support is at 1130, 1119, and 1113 July, with resistance at 1185, 1192, and 1213 July. Trends in Minneapolis are mixed. Support is at 1212, 1198, and 1180 July, and resistance is at 1248, 1256, and 1260 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 07, 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 462,463
: Positions :
: 38,326 78,881 151,080 56,580 160,617 178,514 30,149 424,500 420,727: 37,963 41,736
: Changes from: May 31, 2022 (Change in open interest: 8,078) :
: -8,333 -1,849 9,734 5,449 -2,988 -442 1,190 6,408 6,088: 1,670 1,990
: Percent of Open Interest Represented by Each Category of Trader :
: 8.3 17.1 32.7 12.2 34.7 38.6 6.5 91.8 91.0: 8.2 9.0
: Total Traders: 355 Number of Traders in Each Category :
: 88 89 127 82 115 48 25 292 292:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 07, 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 205,338
: Positions :
: 25,491 18,741 49,242 37,217 106,299 70,308 6,538 182,259 180,820: 23,080 24,518
: Changes from: May 31, 2022 (Change in open interest: 130) :
: -3,365 -550 2,773 1,330 -2,314 135 -743 873 -835: -743 964
: Percent of Open Interest Represented by Each Category of Trader :
: 12.4 9.1 24.0 18.1 51.8 34.2 3.2 88.8 88.1: 11.2 11.9
: Total Traders: 225 Number of Traders in Each Category :
: 55 34 58 70 83 35 16 189 166:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 7, 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 73,168 :
: Positions :
: 29,157 54,395 1,604 1,430 230 14,833 911 1,826 4,952 884 4,361 :
: Changes from: May 31, 2022 :
: -2,878 -4,133 -468 253 -195 -1,668 -67 334 -238 269 695 :
: Percent of Open Interest Represented by Each Category of Trader :
: 39.9 74.3 2.2 2.0 0.3 20.3 1.2 2.5 6.8 1.2 6.0 :
: Number of Traders in Each Category Total Traders: 104 :
: 45 43 5 . 4 18 5 7 9 6 12 :
—————————————————————————————————————-

RICE:
General Comments: Rice was lower again last week on the good progress and condition of the crops shown by USDA in the Monday reports. Trends are down on the charts. USDA on Friday cut long grain export demand by 1.0 million hundredweight and increased ending stocks fir this and next year by the same amount. It made no other changes to the supply or demand estimates for the coming year. The weekly export sales report showed bad demand last week. Growing conditions are said to be good. There are still ideas of less production of US Rice this year but the good conditions are starting to limit loss ideas. The planting pace is catching up to normal, but emergence remains behind and acreage estimates are still down for the next crop. Some traders note that it will be difficult to move Rice at current price levels and they are worried about domestic and export demand moving forward.
Overnight News: The Delta should get mostly dry conditions. Temperatures should be above normal.
Chart Analysis: Trends are down with objectives of 1629 and 1580 July. Support is at 1615, 1603, and 1594 July and resistance is at 1637, 1656, and 1661 July.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 7, 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 11,936 :
: Positions :
: 4,917 8,441 203 0 0 2,138 586 0 787 1,174 803 :
: Changes from: May 31, 2022 :
: -31 -405 -65 0 0 -10 -2 0 -160 203 -268 :
: Percent of Open Interest Represented by Each Category of Trader :
: 41.2 70.7 1.7 0.0 0.0 17.9 4.9 0.0 6.6 9.8 6.7 :
: Number of Traders in Each Category Total Traders: 60 :
: 17 15 . 0 0 14 . 0 8 10 4 :
—————————————————————————————————————-

CORN AND OATS:
General Comments: Corn closed higher last week and Oats were lower. USDA made no changes to production estimates for the new crop and made no demand changes, either. Old crop export demand was cut and ending stocks were increased. The increase was carried forward into the next crop. The Corn planting is about done now and the crop has emerged under what was considered good conditions . The areas left to be planted are primarily in the Dakotas and might not get planted as the insurance planting dates have passed. The risk to plant now would be much higher without the insurance and the high costs of inputs. There are also pockets of area left to be planted in the big production states. The weather was variable last week with periods of rain and very cool temperatures and then warm and dry conditions and hot and dry weather is expected this week. Many think the top end of the yield has been taken off the Corn crop due to the delayed planting but others look at the crop condition rating and expect improved yields. It already thinks there is reduced planted area because of the March planning intentions reports from USDA and the bad planting weather.
Overnight News:
Chart Analysis: Trends in Corn are mixed to up with objectives of 802, 867, and 868 July. Support is at 765, 756, and 736 July, and resistance is at 783, 787, and 797 July. Trends in Oats are mixed Support is at 644, 625, and 607 July, and resistance is at 677, 695, and 708 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 07, 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 2,217,675
: Positions :
: 270,041 85,596 650,531 524,272 1,121,451 570,110 112,345 2,014,955 1,969,922: 202,720 247,752
: Changes from: May 31, 2022 (Change in open interest: 4,735) :
: -27,383 -19,309 19,045 17,581 -2,055 -2,413 6,920 6,830 4,602: -2,095 133
: Percent of Open Interest Represented by Each Category of Trader :
: 12.2 3.9 29.3 23.6 50.6 25.7 5.1 90.9 88.8: 9.1 11.2
: Total Traders: 869 Number of Traders in Each Category :
: 208 100 212 385 446 53 31 732 716:
——————————————————————————————————————-

SOYBEANS
General Comments: Soybeans and Soybean Meal were higher last week as the US cash market runs low on Soybeans and farmers are reluctant sellers. Soybean Oil was lower but still found support in part from talk that President Biden plans to retroactively increase bio fuels use to help bring down the prices of Crude Oil and petroleum products. USDA released its monthly supply and demand estimates on Friday and increased current year export demand and cut ending stocks estimates. No changes were made to the estimates for the next crop year and the lower ending stocks estimates were carried forward. There is less Chinese demand for Soy products due to the lockdowns there although China is starting to lift the lockdowns now. 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. Most of the current buying is for next year.
Overnight News:
Chart Analysis: Trends in Soybeans are up with objectives of 1806, 1816, and 1871 July. Support is at 1728, 1718, and 1690 July, and resistance is at 1784, 1796, and 1808 July. Trends in Soybean Meal are mixed to up with objectives of 434.00, 442.00 and 450.00 July. Support is at 418.00, 417.00, and 404.00 July, and resistance is at 436.00 439.00, and 442.00 July. Trends in Soybean Oil are mixed. Support is at 8030, 7650, and 7500 July, with resistance at 8460, 8680, and 8800 July.

COT — Supplemental Report – Option and Futures Combined Positions as of June 07, 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 979,103
: Positions :
: 132,636 49,050 251,610 281,114 525,318 253,742 63,839 919,102 889,818: 60,002 89,285
: Changes from: May 31, 2022 (Change in open interest: 15,985) :
: -6,647 81 16,145 4,082 -3,474 2,157 3,015 15,737 15,766: 248 219
: Percent of Open Interest Represented by Each Category of Trader :
: 13.5 5.0 25.7 28.7 53.7 25.9 6.5 93.9 90.9: 6.1 9.1
: Total Traders: 646 Number of Traders in Each Category :
: 174 106 178 204 274 57 27 516 520:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 07, 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 471,053
: Positions :
: 75,347 28,089 100,586 131,784 299,749 124,224 20,254 431,940 448,678: 39,112 22,375
: Changes from: May 31, 2022 (Change in open interest: 24,532) :
: 2,515 -596 5,355 16,590 14,160 -1,075 3,597 23,386 22,517: 1,146 2,015
: Percent of Open Interest Represented by Each Category of Trader :
: 16.0 6.0 21.4 28.0 63.6 26.4 4.3 91.7 95.3: 8.3 4.7
: Total Traders: 284 Number of Traders in Each Category :
: 84 41 82 79 98 41 22 240 213:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of June 07, 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 429,842
: Positions :
: 57,486 16,142 88,673 105,607 285,693 125,315 15,301 377,081 405,810: 52,760 24,032
: Changes from: May 31, 2022 (Change in open interest: 10,926) :
: 1,458 -7,370 7,866 3,793 6,484 -76 3,226 13,041 10,207: -2,115 719
: Percent of Open Interest Represented by Each Category of Trader :
: 13.4 3.8 20.6 24.6 66.5 29.2 3.6 87.7 94.4: 12.3 5.6
: Total Traders: 273 Number of Traders in Each Category :
: 70 33 74 88 103 39 14 236 200:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: World vegetable oils were lower last week. Palm Oil was the weakest market last week despite ideas of less Malaysian production due to worker shortages from Covid and on the potential for strong exports for the month from Malaysia. Palm Oil closed lower today. The Indonesian government is now imposing a revised tax scheme on exporters to increase export sales. Some analysts think Palm Oil is topping out anyway due to reduced demand ideas. Hopes for better demand from India keep the market supported, but Chinese demand could be less. A new Covid outbreak is reported in China and cities and infrastructure has been shut down, including some airports and water ports. The economy could slow down and affect demand. Production from Malaysia is expected to increase as well as the Covid lockdowns finally go away and as the weather is good for production. Canola was lower. The crops are going in the ground and the growing conditions are much improved. It is reported to be very dry and has been cold for planting but better planting weather is coming now as it is now much warmer. There are ideas of reduced Sunflower export potential from Russia and Ukraine. 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 1102.00, 1090.00, and 1083.00 July, with resistance at 1144.00, 1177.00, and 1195.00 July. Trends in Palm Oil are mixed to down with objectives of 6050 and 5760 September. Support is at 6030, 5830, and 5700 September, with resistance at 6350, 6420, and 6450 September.

DJ Malaysia June 1-10 Palm Oil Exports Rose 9.9% on Month, SGS Says
Malaysia’s palm oil exports for June 1-10 are estimated to have risen 9.9% from a month earlier to 408,070 metric tons, cargo surveyor SGS (Malaysia) said Monday.
The following are the major items in the SGS estimate:
(All figures in metric tons)
June 1-10 May 1-10
RBD Palm Olein 147,565 130,332
RBD Palm Oil 70,570 51,050
RBD Palm Stearin 30,085 25,335
Crude Palm Oil 29,376 44,983
Total* 408,070 371,295
*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.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 7, 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 C – CHICAGO MERCANTILE EXCHANGE (CONTRACTS OF 25 METRIC TONS) :
CFTC Code #037021 Open Interest is 41,000 :
: Positions :
: 33,552 32,168 1,968 2,314 1,002 160 0 0 3,190 4,180 920 :
: Changes from: May 31, 2022 :
: -3,340 -1,186 156 -3,409 -176 0 0 0 -1,007 -20 -140 :
: Percent of Open Interest Represented by Each Category of Trader :
: 81.8 78.5 4.8 5.6 2.4 0.4 0.0 0.0 7.8 10.2 2.2 :
: Number of Traders in Each Category Total Traders: 20 :
: 5 7 . . . . 0 0 . 4 . :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 7, 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 163,593 :
: Positions :
: 94,497 124,335 1,491 3,253 637 41,699 6,215 9,351 2,577 6,755 10,925 :
: Changes from: May 31, 2022 :
: 4,099 -1,947 -24 124 -43 -5,422 733 1,213 -175 -713 1,327 :
: Percent of Open Interest Represented by Each Category of Trader :
: 57.8 76.0 0.9 2.0 0.4 25.5 3.8 5.7 1.6 4.1 6.7 :
: Number of Traders in Each Category Total Traders: 316 :
: 49 73 4 5 . 53 17 16 50 94 50 :
—————————————————————————————————————-

Midwest Weather Forecast:: Showers and storms from west to east today. Temperatures should average near to below normal.

US Gulf Cash Basis

Corn HRW SRW Soybeans Soybean Meal Soybean Oil
May
103 July
195 July
120 July
146 July

June
103 July
195 July
120 July
146 July

July
97 July
175 July
80 July
158 July

DJ ICE Canada Cash Grain Close – Jun 10
WINNIPEG — The following are the closing cash canola prices
from ICE Futures.
Source: ICE Futures
1 Canada NCC Best Bid
Price Basis Contract Change
CANOLA
*Par Region 1139.00 20.00 July 2022 dn 9.20
Basis: Thunder Bay 1149.10 45.00 July 2022 dn 14.90
Basis: Vancouver 1169.10 65.00 July 2022 dn 14.90
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 – June 13
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Monday, supplied by commodity broker Matthes & Porton Bhd.
Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgit a ton. Palm kernel oil prices are in ringgit a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports
Offer Change Bid Change Traded
Jun 1582.50 -35.00 Unquoted – –
Jul/Aug/Sep 1462.50 -50.00 Unquoted – –
Oct/Nov/Dec 1342.50 -50.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jun 1585.00 -35.00 Unquoted – –
Jul/Aug/Sep 1465.00 -50.00 Unquoted – –
Oct/Nov/Dec 1345.00 -50.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
June 1500.00 -45.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
June 1230.00 -30.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
June 6200.00 -350.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
June 373.00 -07.00 Unquoted – –
($1=MYR4.418)

DJ China Dalian Grain Futures Closing Prices, Volume – Jun 13
Soybean No. 1
Turnover: 89,946 lots, or 5.58 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-22 6,229 6,280 6,218 6,229 6,252 6,243 -9 52,555 70,709
Sep-22 6,168 6,205 6,162 6,174 6,204 6,182 -22 28,522 65,102
Nov-22 5,980 6,011 5,966 5,980 5,991 5,987 -4 8,555 32,127
Jan-23 5,970 5,980 5,940 5,949 5,964 5,954 -10 304 5,050
Mar-23 – – – 5,927 5,931 5,927 -4 0 119
May-23 5,930 5,935 5,920 5,920 5,947 5,926 -21 10 94
Corn
Turnover: 498,329 lots, or 14.32 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-22 2,819 2,842 2,808 2,839 2,808 2,823 15 66,190 147,821
Sep-22 2,868 2,892 2,862 2,886 2,860 2,877 17 365,150 1,343,337
Nov-22 2,880 2,901 2,874 2,898 2,874 2,889 15 14,276 116,967
Jan-23 2,890 2,915 2,885 2,907 2,887 2,901 14 33,930 140,374
Mar-23 2,895 2,918 2,895 2,910 2,895 2,908 13 18,065 78,223
May-23 2,940 2,954 2,930 2,944 2,935 2,945 10 718 7,210
Soymeal
Turnover: 1,227,522 lots, or 5.11 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-22 4,352 4,366 4,216 4,239 4,309 4,298 -11 10,348 43,229
Aug-22 4,378 4,398 4,244 4,263 4,346 4,323 -23 58,919 201,993
Sep-22 4,272 4,285 4,142 4,165 4,239 4,210 -29 900,244 1,275,719
Nov-22 4,173 4,177 4,059 4,085 4,126 4,122 -4 51,903 134,514
Dec-22 4,080 4,080 3,971 3,996 4,050 4,022 -28 9,203 57,065
Jan-23 3,989 3,991 3,883 3,907 3,951 3,935 -16 158,618 364,820
Mar-23 3,840 3,840 3,744 3,768 3,797 3,791 -6 23,576 30,008
May-23 3,693 3,697 3,615 3,619 3,671 3,649 -22 14,711 54,319
Palm Oil
Turnover: 822,293 lots, or 9.31 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jun-22 – – – 15,214 15,214 15,214 0 0 190
Jul-22 12,860 12,926 12,704 12,866 13,064 12,822 -242 9,387 14,277
Aug-22 11,964 12,016 11,794 11,910 12,184 11,924 -260 17,591 56,093
Sep-22 11,358 11,434 11,188 11,282 11,586 11,328 -258 727,872 352,826
Oct-22 11,190 11,252 10,994 11,066 11,380 11,156 -224 11,307 39,649
Nov-22 11,000 11,068 10,800 10,896 11,192 10,978 -214 12,105 24,166
Dec-22 10,896 10,906 10,660 10,744 11,028 10,818 -210 5,060 5,914
Jan-23 10,712 10,796 10,526 10,608 10,904 10,684 -220 37,232 71,071
Feb-23 10,500 10,500 10,500 10,500 10,776 10,500 -276 1 48
Mar-23 10,592 10,592 10,372 10,372 10,698 10,544 -154 35 148
Apr-23 10,400 10,524 10,346 10,346 10,630 10,484 -146 20 124
May-23 10,478 10,478 10,202 10,264 10,562 10,396 -166 1,683 4,977
Soybean Oil
Turnover: 718,238 lots, or 83.98 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-22 12,128 12,212 12,000 12,066 12,234 12,094 -140 2,147 7,147
Aug-22 12,108 12,108 11,892 11,968 12,164 11,968 -196 10,743 73,044
Sep-22 11,820 11,852 11,654 11,718 11,892 11,734 -158 610,602 385,377
Nov-22 11,640 11,676 11,472 11,532 11,714 11,566 -148 14,848 51,847
Dec-22 11,556 11,560 11,366 11,436 11,614 11,472 -142 18,685 16,464
Jan-23 11,420 11,460 11,270 11,338 11,488 11,360 -128 47,848 81,163
Mar-23 11,174 11,192 11,010 11,094 11,236 11,110 -126 11,700 13,201
May-23 10,840 10,840 10,700 10,764 10,870 10,756 -114 1,665 9,966
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