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

MORNING GRAINS COMMENTS

Jack Scoville

Monday, September 12, 2022

 

 

 

Price Futures Group, CBOT

Chicago, IL

(312) 264-4322

jscoville@pricegroup.com

 

JSL, SA de CV

San Salvador, El Salvador (503) 2260-7806 jslsadecv@comcast.net

 

JSL, SA

San José, Costa Rica (506) 2282-7024

jslsa@comcast.net

 

 

 

 

 

DJ CBOT Delivery Intentions: Totals – Sep 12

Source: CME Group

                                      Contract                         Quantity   Next Trade

Commodity                             Month       Delivery Day   Assigned Today   Date Available

OATS                                  September   Sep 13, 2022                1   Sep 09, 2022

WHEAT                                 September   Sep 13, 2022               29   Sep 08, 2022

WASDE SEPT SURVEY from Bloomberg

US Corn Ending Stocks

US Soy Ending Stocks

US Wheat Ending Stocks

US Corn Ending Stocks Old Crop

US Soy Ending Stocks Old Crop

US Corn Acres Harvested

US Corn Yield

Prior

1388.0

245.0

610.0

1530.0

225.0

81.8

175.4

^Median

1199.0

245.0

610.0

1540.0

235.0

81.8

172.4

^Average

1195.0

245.8

618.1

1545.0

235.1

81.7

172.4

^High

1412.0

335.0

650.0

1580.0

265.0

82.1

174.9

^Low

980.0

203.0

594.0

1500.0

215.0

81.0

170.0

Avg vs prior

-193.0

0.8

8.1

15.0

10.1

-0.1

-3.0

^Observations

27

27

27

27

27

25

27

Firms:

ADM Investor Services

1300.0

255.0

625.0

1565.0

235.0

81.8

172.0

Advanced Market Concepts

1199.0

241.0

610.0

1530.0

225.0

81.3

173.0

AgMarket.Net

1151.0

277.0

605.0

1560.0

235.0

81.8

171.9

AgriSompo

1167.0

206.0

610.0

1530.0

215.0

81.3

174.0

AgriSource

1200.0

204.0

610.0

1530.0

225.0

81.6

172.3

Allendale Inc.

1289.0

205.0

638.0

1542.0

219.0

82.1

172.4

Brugler Marketing

1410.0

335.0

598.0

1580.0

252.0

81.7

173.5

CHS Hedging Llc

1312.0

215.0

637.0

1555.0

240.0

81.8

172.5

Doane Agricultural Services

1230.0

260.0

635.0

1530.0

235.0

81.8

171.1

Futures International LLC

1060.0

215.0

610.0

1540.0

244.0

81.0

171.6

Grain Cycles

1141.0

245.0

610.0

1580.0

245.0

81.8

170.6

Grain Service

1091.0

227.0

639.0

1515.0

240.0

81.8

172.0

Linn Group

1107.0

250.0

600.0

1510.0

244.0

81.8

172.4

Love Consulting

1167.0

203.0

610.0

1530.0

225.0

81.4

172.0

Mckeaney-Flavell

1412.0

271.0

610.0

1580.0

265.0

81.8

174.9

Midland Research

1175.0

240.0

610.0

1555.0

250.0

81.8

171.0

Midwest Mkt Sol.

1067.0

256.0

644.0

1536.0

225.0

172.9

Morrison On The Markets

1326.0

250.0

610.0

1540.0

235.0

82.0

173.0

Northstar Commodity

980.0

250.0

630.0

1550.0

235.0

81.7

171.2

Prime Agriculture Consulting

1300.0

245.0

620.0

1550.0

225.0

174.0

Seges Markets

990.0

220.0

600.0

1530.0

225.0

81.8

170.0

Stewart-Peterson Group

1208.0

260.0

610.0

1540.0

230.0

81.7

173.0

StoneX

1216.0

323.0

594.0

1500.0

245.0

81.8

173.2

US Commodities Inc.

1262.0

284.0

650.0

1530.0

230.0

81.8

174.0

VantageRM

1155.0

227.0

610.0

1550.0

230.0

81.8

172.0

Western Milling

1091.0

247.0

650.0

1576.0

238.0

81.8

172.8

Zaner Group Llc

1258.0

225.0

615.0

1580.0

235.0

81.6

172.4

US Corn Production

US Soy Acres Harvested

US Soy Yield

US Soy Production

World Corn Ending Stocks

World Soybean Ending Stocks

World Wheat Ending Stocks

14359.0

87.2

51.9

4531.0

306.7

101.4

267.3

14080.0

87.2

51.6

4511.0

302.3

101.5

268.9

14089.0

87.3

51.5

4499.6

301.7

101.2

268.2

14307.0

87.9

52.0

4568.0

305.9

103.0

274.0

13895.0

86.6

50.7

4441.0

290.0

98.2

263.6

-270.0

0.1

-0.4

-31.4

-5.0

-0.2

0.8

27

25

27

27

20

20

20

14069.0

87.6

51.5

4511.0

300.0

101.5

274.0

14064.0

87.4

51.7

4527.0

302.8

100.9

269.0

14061.0

87.2

51.9

4526.0

302.5

101.5

269.8

14137.0

87.1

51.8

4511.0

304.9

102.0

266.0

14066.0

87.2

51.2

4465.0

14156.0

87.7

50.9

4461.0

305.1

99.9

268.8

14175.0

87.9

52.0

4568.0

302.0

103.0

266.0

14112.0

87.2

51.2

4465.0

305.7

101.6

267.4

14000.0

87.7

51.7

4535.0

13895.0

86.6

51.3

4441.0

296.9

100.4

265.1

13962.0

87.6

50.7

4441.0

301.0

101.5

267.0

14076.0

87.2

51.6

4498.0

14111.0

87.2

51.5

4491.0

298.0

101.5

269.0

14000.0

87.5

51.0

4463.0

14307.0

87.2

51.9

4531.0

305.9

101.8

271.0

13995.0

87.5

51.2

4480.0

14086.0

51.3

4475.0

305.6

101.9

269.9

14186.0

87.4

51.9

4536.0

13987.0

87.2

51.4

4482.0

297.0

100.8

268.0

14233.0

51.9

4531.0

303.0

102.0

265.0

13906.0

87.2

51.0

4447.0

290.0

99.0

265.0

14134.0

87.1

51.9

4525.0

305.0

101.0

269.3

14168.0

87.2

51.8

4515.0

301.7

102.1

270.7

14233.0

87.2

52.0

4534.0

304.0

102.0

269.0

14080.0

87.3

51.7

4514.0

14135.0

87.2

52.0

4534.0

301.0

102.0

270.0

14068.0

87.2

51.4

4482.0

301.3

98.2

263.6

WHEAT

General Comments:   Wheat markets were higher Friday as the US Dollar moved sharply lower, and higher for the week after news that Russia wants a new export treaty for Ukraine propelled markets higherin previous days.  It says that Ukraine is selling too much to big western countries and not enough to developing nations.  It has threatened to cut off exports from Ukraine unless it can have more exports, too.  The demand for US Wheat still needs to show up and right now there s no demand news to help support futures..  US demand needs to improve as export sales have not been strong for the last year despite weaker production for much of the world and the war in Ukraine that has held up shipments of Wheat from there and from Russia until the middle of the Summer.  Russia reports that it has produced a big crop and has reduced export taxes recently in an effort to get Wheat sales on the books.  Russian Wheat prices have been going down in an effort to move the crop.  Ukraine has taken advantage of the shipping corridor agreement with the UN and Russia and has been shipping Corn and Wheat.  Europe is too hot and dry and the US central and southern Great Plains have also been too hot and dry.  Dry weather is affecting the Indian production as well.

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

Chart Analysis:  Trends in Chicago are mixed to up with objectives of 876 December.  Support is at 818, 791, and 783 December, with resistance at 875, 913, and 954 December.  Trends in Kansas City are mixed to up with objectives of 952 and 975 December.  Support is at 893, 865, and 858 December, with resistance at 934, 936, and 959 December.  Trends in Minneapolis are mixed.  Support is at 908, 880, and 863 December, and resistance is at 945, 95a5, and 959 December.

COT — Supplemental Report – Option and Futures Combined Positions as of September 06, 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   363,699

    : Positions                                                                               :

    :   36,078    88,101    91,878    51,183   112,588   152,000    35,979   331,138   328,546:   32,561    35,153

    : Changes from: August 30, 2022            (Change in open interest:       1,234)         :

    :      471    -3,455       702     2,661     4,030    -2,062        65     1,773     1,342:     -539      -108

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

    :      9.9      24.2      25.3      14.1      31.0      41.8       9.9      91.0      90.3:      9.0       9.7

    : Total Traders:   340          Number of Traders in Each Category                        :

    :       81        87       101        81        99        49        30       271       263:

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

COT — Supplemental Report – Option and Futures Combined Positions as of September 06, 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   160,602

    : Positions                                                                               :

    :   23,877    33,027    21,900    36,833    78,675    57,640     6,583   140,250   140,185:   20,352    20,418

    : Changes from: August 30, 2022            (Change in open interest:       1,191)         :

    :     -811      -817     1,390       368       445      -644       223       303     1,241:      888       -51

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

    :     14.9      20.6      13.6      22.9      49.0      35.9       4.1      87.3      87.3:     12.7      12.7

    : Total Traders:   202          Number of Traders in Each Category                        :

    :       37        34        46        62        76        38        15       160       150:

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

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 6, 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    47,914                :

: Positions                                                                                                    :

:   26,468    28,286     1,856       300         0     3,235     4,273     2,489     3,694       379     1,813 :

: Changes from:     August 30, 2022                                                                            :

:    1,153     1,629      -734      -575        -1       445        42       135       252      -180      -270 :

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

:     55.2      59.0       3.9       0.6       0.0       6.8       8.9       5.2       7.7       0.8       3.8 :

: Number of Traders in Each Category                                  Total Traders:    89                     :

:       44        37         5         .         .         6         7         6         8         4         7 :

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

RICE:                                              

General Comments:  Rice was higher on news that India will restrict exports of some grades of Rice.  Brokens can not be exported and export taxes on White and Brown Rice is now 20%.  Parboiled and Basmati exports are permitted with no restrictions or additional costs.  Wire reports suggest that Indian Rice exports could be cut in half by the moves.  The move follows a drought that hurt Rice production and the government is apparently afraid of a lot of food inflation hitting the people.  Any move by India to restrict exports can be bullish as India is far and away the cheapest seller of Rice into the world market.  The Texas harvest is moving along to completion and yield reports have been variable as have been quality reports.  Some producers are getting done with harvesting in Texas as well as in southern Louisiana   Yield reports have been generally good in Louisiana and quality reports are generally good.  Crop conditions are mostly good to excellent for now in Arkansas and Mississippi.  Demand remains a big question with the domestic market reported to be quiet and with no export sales information yet from USDA.  Trends are now down on the daily charts. 

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

Chart Analysis:  Trends are mixed.  Support is at 1723, 1697, and 1685 November and resistance is at 1772, 1795, and 1834 November.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 6, 2022

:                                             Reportable Positions                                             :

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

: Producer/Merchant :                             :                             :                              :

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

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

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

ROUGH RICE – CHICAGO BOARD OF TRADE   (CONTRACTS OF 200,000 POUNDS)                                            :

CFTC Code #039601                                                    Open Interest is     9,509                :

: Positions                                                                                                    :

:    3,532     7,358       136         0         0     2,475       568         0       887       409       394 :

: Changes from:     August 30, 2022                                                                            :

:     -184       280       -53         0         0       237      -195         0       -20        83      -139 :

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

:     37.1      77.4       1.4       0.0       0.0      26.0       6.0       0.0       9.3       4.3       4.1 :

: Number of Traders in Each Category                                  Total Traders:    55                     :

:       15        18         .         0         0        12         .         0         8         7         8 :

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

CORN AND OATS:

General Comments:  Corn closed higher on Friday but remains in a trading range due to demand concerns.  Support hs been coming from ideas of less US production and less world production as well and these ideas should be confirmed later today by USDA.  There are reports of less cattle and that means domestic demand could be hurt.  Ethanol demand ideas took a hit this week as Crude Oil moved lower.  There are also increasing concerns about demand with the Chinese economic problems caused by the lockdowns creating the possibility of less demand as South America has much better crops this year to compete with the US for sales.  Ending stocks estimates could be very tight for the coming year if the crop projections hold true.  Basis levels in the Midwest are strong amid light farm selling.  It is still very hot and dry in parts of China and there is increasing concern about Corn production there this year.  It has also been very hot and dry in Europe.  Oats also closed higher.

Overnight News: 

Chart Analysis:  Trends in Corn are mixed.  Support is at 659, 654, and 647 December, and resistance is at 684, 688, and 690 December.  Trends in Oats are mixed.  Support is at 370, 364, and 358 December, and resistance is at 396, 418, and 424 December.

COT — Supplemental Report – Option and Futures Combined Positions as of September 06, 2022

    :                                    Reportable Positions                                 :    Nonreportable

    :—————————————————————————————- :      Positions

    :         Non-Commercial      :      Commercial   :     Index Traders :        Total

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

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

CORN – CHICAGO BOARD OF TRADE

CFTC Code #002602                                                              Open Interest is 1,730,634

    : Positions                                                                               :

    :  242,264    89,299   443,954   424,964   894,908   457,794    85,858 1,568,976 1,514,020:  161,658   216,614

    : Changes from: August 30, 2022            (Change in open interest:      13,726)         :

    :    2,226    -3,625    15,252    -3,639       185    -1,620     2,307    12,220    14,120:    1,506      -394

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

    :     14.0       5.2      25.7      24.6      51.7      26.5       5.0      90.7      87.5:      9.3      12.5

    : Total Traders:   822          Number of Traders in Each Category                        :

    :      166       106       197       354       422        54        29       668       679:

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

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 6, 2022

:                                             Reportable Positions                                             :

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

: Producer/Merchant :                             :                             :                              :

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

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

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

OATS – CHICAGO BOARD OF TRADE   (CONTRACTS OF 5,000 BUSHELS)                                                   :

CFTC Code #004603                                                    Open Interest is     3,618                :

: Positions                                                                                                    :

:      845     1,387       155         0         0       100       733         0       504         2       352 :

: Changes from:     August 30, 2022                                                                            :

:      -33        39         6         0         0         0       192         0        29        -2        16 :

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

:     23.3      38.3       4.3       0.0       0.0       2.8      20.3       0.0      13.9       0.1       9.7 :

: Number of Traders in Each Category                                  Total Traders:    23                     :

:        6         5         .         0         0         .         4         0         6         .         5 :

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

SOYBEANS

General Comments:  Soybeans and the products were higher Friday in recovery trading but weaker demand ideas are still around.  Newswires noted that Chinese Soybeans exports were down 25% last month and the USDA Attache in Beijing cut overall Chinese Soybeans demand estimates to just over 96 million tons.  Support on Friday came primarily from a weaker US Dollar.  The trade is worried about demand due to a lack of Chinese interest caused by the Covid lockdowns there and in part by the stronger US Dollar.  There are reports that Brazil is still offering and that South America as a whole are expected to produce a very big crop later this year for harvest next Spring.  US production ideas remain strong after mostly good weather in August.  Basis levels are still strong in the Midwest. There are still renewed Chinese lockdowns and there are fears that China has been importing less as a result.  Shenzhen and Dalian were closed last week and might still be closed this week.   

Overnight News

Chart Analysis:  Trends in Soybeans are mixed.  Support is at 1397, 1373, and 1357 November, and resistance is at 1422, 1432, and 1448 November.  Trends in Soybean Meal are mixed.  Support is at 408.00, 401.00, and 398.00 October, and resistance is at 422.00 428.00, and 430.00 October.  Trends in Soybean Oil are mixed to down with objectives of 6080 October.  Support is at 6500, 6290, and 6160 October, with resistance at 6670, 6930, and 7040 October.

COT — Supplemental Report – Option and Futures Combined Positions as of September 06, 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   741,820

    : Positions                                                                               :

    :   91,943    58,563   169,905   248,986   385,550   187,060    47,529   697,894   661,547:   43,927    80,274

    : Changes from: August 30, 2022            (Change in open interest:         386)         :

    :   -2,855    -2,780     4,601     2,461    -2,675    -3,656       971       551       116:     -165       270

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

    :     12.4       7.9      22.9      33.6      52.0      25.2       6.4      94.1      89.2:      5.9      10.8

    : Total Traders:   601          Number of Traders in Each Category                        :

    :      118       136       164       180       262        53        27       441       510:

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

COT — Supplemental Report – Option and Futures Combined Positions as of September 06, 2022

    :                                    Reportable Positions                                 :    Nonreportable

    :—————————————————————————————- :      Positions

    :         Non-Commercial      :      Commercial   :     Index Traders :        Total

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

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

SOYBEAN OIL – CHICAGO BOARD OF TRADE

CFTC Code #007601                                                              Open Interest is   439,474

    : Positions                                                                               :

    :   44,952    31,319   101,666   141,266   263,777   118,355    16,466   406,239   413,228:   33,235    26,246

    : Changes from: August 30, 2022            (Change in open interest:          91)         :

    :     -479     4,449    -1,188     3,392    -5,054    -2,984    -1,817    -1,259    -3,609:    1,351     3,700

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

    :     10.2       7.1      23.1      32.1      60.0      26.9       3.7      92.4      94.0:      7.6       6.0

    : Total Traders:   282          Number of Traders in Each Category                        :

    :       60        52        71        82       100        47        23       218       223:

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

COT — Supplemental Report – Option and Futures Combined Positions as of September 06, 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   431,875

    : Positions                                                                               :

    :   77,489    19,859    72,430   100,988   298,647   131,546    12,583   382,454   403,520:   49,422    28,355

    : Changes from: August 30, 2022            (Change in open interest:      -3,153)         :

    :   -2,052     8,212    -1,202     3,923   -11,052    -1,666       722      -996    -3,319:   -2,157       166

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

    :     17.9       4.6      16.8      23.4      69.2      30.5       2.9      88.6      93.4:     11.4       6.6

    : Total Traders:   272          Number of Traders in Each Category                        :

    :       71        33        67        85       101        44        17       232       196:

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

CANOLA AND PALM OIL

General Comments Palm Oil was lower last week and made new lows for the move.  Overall weaker prices for Crude Oil hurt Palm Oil futures.  Futures were higher today on Chicago price action and unexpectedly strong exports.  There are still ideas of bigger production and less demand.  Ideas are that supply and demand will be strong, but demand ideas are now weakening and the market will look to the private data for clues on demand and the direction of the futures market.  Canola was lower as the Canola harvest approaches.  The Canola growing conditions are much improved.

Overnight News:

Chart Analysis:  Trends in Canola are mixed to down with objectives of 746.00, 724.00, and 702.00 November.  Support is at 763.00, 753.00, and 743.00 November, with resistance at 795.00, 809.00, and 818.00 November.  Trends in Palm Oil are mixed to down with no objectives.  Support is at 3480, 3400, and 3280 November, with resistance at 3720, 3840, and 4000 November.

DJ Malaysia’s August Palm Oil Exports 1.30M Tons; Down 1.9%, MPOB Says

  Malaysia’s palm oil exports were down 1.9% on month at 1.30 million metric tons in August, the Malaysian Palm Oil Board said.

  The following are details of the August crop data and revised numbers for July, issued by MPOB:

                            August       July        Change

                                                   On Month

  Crude Palm Oil Output  1,725,781  1,573,560  Up     9.67%

       Palm Oil Exports  1,299,654  1,325,342  Dn     1.94%

Palm Kernel Oil Exports    101,674     76,689  Up    32.58%

       Palm Oil Imports    145,452    130,615  Up    11.36%

         Closing Stocks  2,094,667  1,772,804  Up    18.16%

         Crude Palm Oil  1,025,961    905,946  Up    13.25%

     Processed Palm Oil  1,068,706    866,858  Up    23.29%

DJ Malaysia Sept. 1-10 Palm Oil Exports Rose 25.5% on Month, SGS Says

  Malaysia’s palm oil exports for Sept. 1-10 are estimated to have risen 25.5% from the previous month to 418,120 metric tons, cargo surveyor SGS (Malaysia) said Monday.

  The following are the major items in the SGS estimate:

  (All figures in metric tons)

                          September 1-10          August 1-10

   RBD Palm Olein                128,444               98,574

   RBD Palm Oil                   34,662               26,607

   RBD Palm Stearin               41,797               31,090

   Crude Palm Oil                 57,050               52,500

   Total*                        418,120              333,277

  *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 September 6, 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    44,794                :

: Positions                                                                                                    :

:   35,830    30,549     1,760     3,873     3,172         0         0         0     3,332     4,060       700 :

: Changes from:     August 30, 2022                                                                            :

:   -4,460    -3,440    -1,308    -1,674      -252         0         0         0        54      -440      -180 :

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

:     80.0      68.2       3.9       8.6       7.1       0.0       0.0       0.0       7.4       9.1       1.6 :

: Number of Traders in Each Category                                  Total Traders:    23                     :

:        7        10         4         .         4         0         0         0         .         4         . :

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

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 6, 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   207,615                :

: Positions                                                                                                    :

:  171,865   133,153       386     6,296     2,126     4,856    26,978    13,410     2,026     9,853    11,930 :

: Changes from:     August 30, 2022                                                                            :

:    8,930     3,385    -1,118       601       868        84     3,019       147    -1,168      -643       937 :

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

:     82.8      64.1       0.2       3.0       1.0       2.3      13.0       6.5       1.0       4.7       5.7 :

: Number of Traders in Each Category                                  Total Traders:   352                     :

:       46        96         .         8         .        15        55        23        32       135        52 :

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

Midwest Weather Forecast::  Mostly dry or isolated showers today.  Temperatures should average near normal.

 

 

 

US Gulf Cash Basis

 

 

 

 

 

 

 

 

Corn

HRW

SRW

Soybeans

Soybean Meal

Soybean Oil

August

145 Sep

170 Sep

130 Dec

250 Nov

September

145 Sep

170 Sep

130 Dec

250 Nov

October

148 Dec

210 Dec

130 Dec

210 Nov

 

 

 

DJ ICE Canada Cash Grain Close – Sep 9

WINNIPEG — The following are the closing cash

canola prices from ICE Futures.

Source: ICE Futures

                      Price     Basis     Contract     Change

CANOLA

*Par Region           750.80   -19.00     Nov 2022     dn 16.70

Track Thunder Bay     801.20    30.00     Nov 2022     dn  3.60

Track Vancouver       826.20    55.00     Nov 2022     up  1.40

All prices in Canadian dollars per metric tonne.

*Quote for previous day

Source: Commodity News Service Canada

(news@marketsfarm.com, 204-414-9084, or cell

204-782-5944)

DJ Malaysian PM Cash Market Prices for Palm Oil – Sept 12

  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

Sept           907.50     +05.00      Unquoted   –        –

Oct/Nov/Dec    917.50     +10.00      Unquoted   –        –

Jan/Feb/Mar    932.50     +07.50      Unquoted   –        –

RBD palm olein, FOB, Malaysian ports

                Offer      Change      Bid        Change   Traded

Sept            910.00     +05.00      Unquoted   –        –

Oct/Nov/Dec     920.00     +10.00      Unquoted   –        –

Jan/Feb/Mar     935.00     +07.50      Unquoted   –        –

RBD palm stearin, FOB, Malaysian ports

                 Offer      Change      Bid        Change   Traded

Sept             835.00      00.00      Unquoted   –        –

Palm Fatty Acid Distillate, FOB Malaysian ports

                 Offer      Change       Bid        Change   Traded

Sept             650.00     +05.00       Unquoted   –        –

Crude palm oil, Delivered Basis, South Malaysia

                Offer      Change      Bid        Change   Traded

Sept            3650.00     00.00      Unquoted   –        –

Palm kernel oil, Delivered Basis, South Malaysia

                 Offer       Change      Bid       Change   Traded

Sept             300.00      -02.00      Unquoted  –        –

($1=MYR4.502)

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