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 U.S. Export Sales: Weekly Sales Totals For Week Ended Aug 25
Note: This report contains combined data for the weeks ended Aug 25
and Aug 18, in thousand metric tons, except cotton in thousand running
bales. Net changes in commitments are gross sales, less cancellations,
buy-backs and other downward adjustments. Total commitments are total
export shipments plus total sales.
The marketing year for wheat and barley began Jun 1, cotton and
and rice Aug 1, corn, soybeans and sorghum Sep 1, and soymeal and
soyoil Oct 1. Source: USDA
wk’s net chg total
in commitments commitments undlvd sales
this yr next yr this yr last yr this yr next yr
wheat 999.5 0.0 9615.6 9423.3 5010.5 30.0
hrw 257.4 0.0 2762.9 3398.4 1321.6 0.0
srw 267.4 0.0 1871.7 1612.1 824.8 30.0
hrs 199.6 0.0 2697.2 2647.4 1418.3 0.0
white 274.3 0.0 2155.6 1714.8 1351.8 0.0
durum 0.8 0.0 128.1 50.6 94.0 0.0
corn -16.4 1066.0 60862.5 70023.3 2113.6 9854.3
soybeans 222.9 3444.4 59727.6 62228.1 2962.8 20172.2
soymeal 209.2 125.7 11898.3 12079.9 1181.5 1552.8
soyoil 2.2 2.2 697.5 690.6 48.1 2.8
upland cotton 258.1 93.0 7618.2 5569.2 6588.9 788.5
pima cotton 0.9 0.0 100.5 153.1 89.7 0.0
sorghum 11.0 1.0 6987.4 7137.0 81.5 204.2
barley 0.0 0.0 15.5 25.3 11.6 0.0
rice 43.0 0.0 354.0 694.7 282.5 0.0

DJ U.S. Export Sales: Weekly Sales Totals For Week Ended Sep 1
For the week ended Sep 1, in thousand metric tons, except cotton in
thousand running bales. Net changes in commitments are gross sales,
less cancellations, buy-backs and other downward adjustments. Total
commitments are total export shipments plus total sales.
The marketing year for wheat and barley began Jun 1. The
marketing year for rice and cotton began Aug 1. The
marketing year for soymeal and soyoil will begin Oct 1.
For corn, soybeans and sorghum, “this year” is the 2022-2023
marketing year, which began Sep 1, while “last year” is 2021-2022.
Source: USDA
wk’s net change total
in commitments commitments undlvd sales
this year next year this yr last yr this yr next yr
wheat 192.6 0.0 10005.2 9811.7 4853.5 30.0
hrw 4.6 0.0 2896.0 3625.7 1347.0 0.0
srw 4.1 0.0 1882.2 1646.2 747.9 30.0
hrs 125.4 0.0 2825.3 2725.1 1395.4 0.0
white 58.5 0.0 2273.4 1764.0 1269.1 0.0
durum 0.0 0.0 128.1 50.6 94.0 0.0
corn 1853.9-a 30.5 11718.1 24326.1 11681.3 90.5
soybeans 3947.9-b 0.0 24438.0 21025.2 24391.4 0.0
soymeal 38.9 123.0 12002.9 12140.6 1088.6 1675.8
soyoil 1.5 0.0 699.0 689.0 40.0 2.8
upland cotton 20.9 0.0 378.5 728.6 241.8 0.0
pima cotton 230.7 101.0 7856.5 6022.1 6591.8 914.8
sorghum 23.8-c 0.0 228.0 1944.9 228.0 0.0
barley 0.0 0.0 15.5 25.2 11.6 0.0
rice 1.4 0.0 85.7 86.8 44.8 0.0
-a: Includes new sales activity for Aug 26-Sep 1 which
resulted in a net increase of 816.0 thousand metric tons. Also includes
1037.9 thousand metric tons of undelivered sales carried over from
2021-2022.
-b: Includes new sales activity for Aug 26-Sep 1 which resulted in a
a net increase of 1468.1 thousand metric tons. Also includes
2479.8 thousand metric tons of undelivered sales carried over from
2021-2022.
-c: Includes new sales activity for Aug 26-Sep 1 which resulted in
a net decrease of 0.0 thousand metric tons. Also includes
23.8 thousand metric tons of undelivered sales carried over from
2021-2022.

DJ U.S. Export Sales: Weekly Sales Totals For Week Ended Sep 8
For the week ended Sep 8, in thousand metric tons, except cotton in
thousand running bales. Net changes in commitments are gross sales,
less cancellations, buy-backs and other downward adjustments. Total
commitments are total export shipments plus total sales.
The marketing year for wheat and barley began Jun 1, cotton and
and rice Aug 1, corn, soybeans and sorghum Sep 1, and soymeal and
soyoil Oct 1. Source: USDA
wk’s net chg total
in commitments commitments undlvd sales
this yr next yr this yr last yr this yr next yr
wheat 217.3 0.0 10222.6 10428.8 4394.1 30.0
hrw 84.2 0.0 2980.3 4075.3 1234.4 0.0
srw 16.0 0.0 1898.3 1670.5 697.3 30.0
hrs 97.0 0.0 2922.3 2801.5 1157.1 0.0
white 20.0 0.0 2293.5 1810.8 1211.3 0.0
durum 0.0 0.0 128.1 70.6 94.0 0.0
corn 583.1 0.0 12301.2 24572.7 11837.6 90.5
soybeans 843.0 30.0 25281.0 22289.5 24858.5 30.0
soymeal 34.1 141.8 12037.0 12236.0 1007.8 1817.6
soyoil 4.3 0.0 703.3 687.4 42.9 2.8
upland cotton 100.3 25.5 7956.7 6307.0 6551.0 940.4
pima cotton 0.0 0.0 0.0 0.0 0.0 0.0
sorghum 11.7 0.0 239.7 2149.5 233.6 0.0
barley 0.0 0.0 15.5 25.2 11.6 0.0
rice 44.6 0.0 423.0 760.1 266.3 0.0

DJ CBOT Delivery Intentions: Totals – Sep 15
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL September Sep 16, 2022 53 Sep 09, 2022
SOYBEAN OIL September Sep 16, 2022 19 Sep 14, 2022
ROUGH RICE September Sep 16, 2022 38 Sep 14, 2022
SOYBEAN September Sep 16, 2022 322 Sep 14, 2022
WHEAT September Sep 16, 2022 31 Sep 14, 2022

DJ U.S. Railroad Strike Averted as Tentative Deal Is Reached — 2nd Update
By Ken Thomas and Esther Fung
WASHINGTON — The biggest freight railroads and union leaders reached a tentative labor agreement to avert a nationwide strike that would have crippled swatches of the U.S. economy.
President Biden and White House officials interceded to broker a deal to avoid transport disruptions that could have snarled supply chains, putting new pressure on prices when inflation has been hovering near four-decade highs. Business groups and key rail customers, such as energy companies and national retailers, had been calling on the government to avoid a strike.
The overall U.S. job market is tight, with wages rising and unemployment low, and the railroads struggling with service issues they say have been caused by worker shortages. Union members had been working without a contract since 2019 and labor leaders had used the negotiations to protest new attendance policies some of the companies had adopted.
Both sides said Thursday they wrung concessions from the negotiations, which produced a deal that runs through 2024. The terms largely reflected a proposal put forth by a federal panel a month ago, including about 24% in wage increases over five years. The tentative agreement must now be ratified by members of the various unions covered by the contracts.
The deal, which is retroactive to 2019, includes a 14.1% wage increase upon ratification. Workers would then get a 4% raise in July 2023 and 4.5% increase in July 2024, as well as five annual $1,000 lump sum payments. There are no changes to health insurance copays or deductibles in the new deal.
President Biden said the tentative deal “is an important win for our economy and the American people.” He credited the unions and rail companies “for negotiating in good faith and reaching a tentative agreement that will keep our critical rail system working and avoid disruption of our economy.”
Amtrak said Thursday it was restoring long-distance train services that it had suspended ahead of the Friday deadline for a possible strike. The passenger-rail provider was notifying customers to accommodate them on the next available departures, a spokesman said.
The freight railroads, including CSX Corp. and Union Pacific Corp., this week had started suspending transport of some shipments, including industrial chemicals categorized as hazardous, so the cargoes wouldn’t get stuck in their networks under a strike. Officials from the railroads said they were pleased to avert a work stoppage and were working to fully restore services.
Labor Secretary Marty Walsh, who had been meeting with the representatives, applauded the agreement on Twitter. “Moments ago, following more than 20 consecutive hours of negotiations at @USDOL, the rail companies and union negotiators came to a tentative agreement that balances the needs of workers, businesses, and our nation’s economy,” he wrote.
Two unions that had held out for better terms — the Brotherhood of Locomotive Engineers and Trainmen, and SMART-Transportation Division — said Thursday they were able to secure changes to company attendance policies. “For the first time, our unions were able to obtain negotiated contract language exempting time off for certain medical events from carrier attendance policies,” the unions said.
The wages and other contract terms largely followed the recommendations of a federal panel appointed by the White House in July to mediate the dispute. Unions had sought raises of 31% over the five-year term of the contract, while railroads offered 17% before the presidential panel drafted a proposed compromise last month. In the previous five-year contract, wage increases amounted to around 13%.
The annual rate of inflation in August was 8.3% in the U.S. Nationally, average hourly earnings for nonmanagerial employees were up 6.1% in August from a year before, about the same pace as the past year, according to the Labor Department.
On Wednesday, one of the unions said its members rejected a tentative agreement its leaders had reached, while two others labor unions said their members had ratified the agreements. Members of the International Association of Machinists and Aerospace Workers, or IAM, which rejected the deal, were concerned over attendance policies and unscheduled days off if workers or family members get sick, an IAM union official said.
With the sides still trying to reach an agreement late Wednesday night, Mr. Biden called Mr. Walsh and the negotiators at 9 p.m. ET, according to a person familiar with the discussions.
The person said the tentative agreement, under a standard ratification process, will now go back to the unions for a vote. Under the deal, the parties agree to a postratification cooling-off period expected to last several weeks.
If the talks had broken down and led to a strike, Congress could have intervened to delay or stop any strike. But White House officials were reluctant to call on Congress to step in to extend the deadline for the negotiations or force a resolution to the dispute.
House Speaker Nancy Pelosi (D., Calif.) said, “Congress stood ready to take action,” noting it had the authority to “ensure the uninterrupted operation of essential transportation services and has in the past enacted legislation for such purposes.” She said the House “prepared and had reviewed legislation, so that we would be ready to act.”
“Thankfully this action may not be necessary. We congratulate the unions and railroads for coming to an agreement, because it is in the national interest that essential transportation services be maintained,” Mrs. Pelosi said.
Stopping America’s 7,000 long-distance freight trains could reduce economic output by more than $2 billion every day, the AAR said in a recent report. Some of that economic activity, however, could be delayed until after a strike ends, rather than lost forever.
U.S. economic output last year was $23 trillion, or an average of $63 billion a day.
America’s rail network is used by manufacturers to get parts and move goods, as well as by retailers to get products from ports. Many items end up on many forms of transportation as they make their way across the U.S. and around the world. About 27% of all American freight moves by rail, according to government data.
U.S. consumers and businesses have faced rising prices in recent months as high incomes boost demand while supply-chain constraints and a tight labor market raise costs for companies. The chief executive of the National Retail Federation, Matthew Shay, on Thursday welcomed the tentative deal “at a time when high inflation and economic uncertainty are challenging consumer budgets and putting business resiliency at risk.”
Consumer prices increased in August, in a sign that inflation isn’t disappearing. The Labor Department on Tuesday said its consumer-price index rose 8.3% in August from a year before after an 8.5% increase in July and a 9.1% rise in June. What is known as core CPI, which excludes energy and food prices, increased 6.3% in August from a year earlier, up from the 5.9% rate in both June and July, reflecting broadening price pressures.
The producer-price index, which measures what suppliers are charging, rose 8.7% in August from a year before, down from July’s 9.8% increase but still high, the Labor Department said Wednesday.
Paul Berger contributed to this article.
Write to Ken Thomas at ken.thomas@wsj.com and Esther Fung at esther.fung@wsj.com

WHEAT
General Comments: Wheat markets were higher again in recovery trading as no one is sure what will happen to exports from Ukraine and Russia. USDA world supply and demand estimates that showed a lot more Ukrainian and Russian Wheat production. Those countries still need to get the Wheat out through Black Sea ports and this could become a problem. For now, though, the world feels that the Wheat is there and people will not go hungry due to increased production estimates released by USDA on Monday. Russia has threatened to cut off exports from Ukraine unless it can have more exports, too. Russia now appears to be losing the war and could do something rash to try to hold things together. The demand for US Wheat still needs to show up and right now there is no demand news to help support futures.. 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 or isolated showers . Temperatures will average above normal. The Canadian Prairies should see isolated showers. Temperatures should average above normal.
Chart Analysis: Trends in Chicago are mixed to up with objectives of 876 December. Support is at 849, 819, and 810 December, with resistance at 878, 913, and 917 December. Trends in Kansas City are mixed to up with objectives of 952 and 975 December. Support is at 915, 893, and 865 December, with resistance at 959, 1010, and 1043 December. Trends in Minneapolis are mixed. Support is at 920, 907, and 880 December, and resistance is at 955, 959, and 967 December.

RICE:
General Comments: Rice was a little higher yesterday on some follow through buying tied to the bullish USDA production and supply and demand estimates and on more news from India and their export program. The reports showed smaller production and ending stocks estimates. Demand for Rough Rice was cut hard, but demand for Milled Rice held together in the latest estimates. News that India will restrict exports of some grades of Rice also supported futures although this was now called old news. Brokens cannot be exported and export taxes on White and Brown Rice are now 20%. Parboiled and Basmati exports are permitted with no restrictions or additional costs. Wire reports suggest that Indian Rice exports could be cut by 25% to 50% 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 US 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. Yield and quality have been up and down in Texas. 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. The export sales will be released this morning and will be several weeks worth of data.
Overnight News: The Delta should get mostly dry conditions. Temperatures should be above normal.
Chart Analysis: Trends are mixed to up with no objectives. Support is at 1767, 1759 and 1739 November and resistance is at 1795, 1808, and 1834 November.

CORN AND OATS:
General Comments: Corn closed lower yesterday as the market prepares for a railroad strike in the US. Unions and management are at an impasse in the negotiations and a strike could begin on Friday. A strike could cause a lot of disruption for freight traffic of all kinds and including grains and oilseeds. USDA cut production about as expected but cut demand even more for a higher than expected ending stocks estimate. The report was considered neutral by the trade, but the demand side will need to be watched as Corn demand needs to hold to keep lower ending stocks estimates in play. There are reports of less cattle and that means domestic demand could be hurt. Ethanol demand ideas took a hit last 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 to up with objectives of 714 December. Support is at 675, 659, and 654 December, and resistance is at 688, 699, and 701 December. Trends in Oats are mixed. Support is at 389, 373, and 370 December, and resistance is at 410, 418, and 422 December.

SOYBEANS
General Comments: Soybeans and the products were lower yesterday as a railroad strike is threatened in the US. Unions and management are at an impasse in the negotiations and a strike could begin on Friday. A strike could cause a lot of disruption for freight traffic of all kinds and including grains and oilseeds. USDA on Monday showed less yield and planted and harvested area than trade expectations and estimated production much less than the trade had expected. Demand was cut back some, but the overall effect of the estimates was ending stocks at just 200 million bushels for the coming year instead of 240 as estimated by the trade. Demand remains an issue for the market to contend with. 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. 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.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed. Support is at 1440, 1432, and 1422 November, and resistance is at 1476, 1509, and 1523 November. Trends in Soybean Meal are mixed to up with objectives of 457.00 October. Support is at 426.00, 419.00, and 417.00 October, and resistance is at 439.00 441.00, and 445.00 October. Trends in Soybean Oil are mixed. Support is at 6600, 6500, and 6400 October, with resistance at 7000, 71040, and 7130 October.

CANOLA AND PALM OIL
General Comments: Palm Oil was higher again 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 a little lower on the price action in Chicago and as the Canola harvest approaches. The Canola growing conditions are much improved.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 779.00, 766.00, and 763.00 November, with resistance at 818.00, 833.00, and 857.00 November. Trends in Palm Oil are mixed to up with objectives of 3860 and 4230 November. Support is at 3670, 3480, and 3400 November, with resistance at 4000, 4030, and 4340 November.

DJ Malaysia Palm Oil Exports During September 1-15 Up 25.2%, SGS Says
Malaysia’s palm oil exports during the September 1-15 period are estimated up 25.2% on month at 646,070 metric tons, cargo surveyor SGS (Malaysia) Bhd. said Thursday.
The following are the major items in the SGS estimate:
(All figures in metric tons)
September 1-15 August 1-15
RBD Palm Olein 200,689 152,365
RBD Palm Oil 66,912 32,660
RBD Palm Stearin 70,197 49,285
Crude Palm Oil 93,550 89,000
Total* 646,070 516,072
*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

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
September
145 Dec
230 Dec
165 Dec
205 Nov

October
145 Dec
230 Dec
165 Dec
205 Nov

November
144 Dec
220 Dec
160 Dec
189 Nov

DJ ICE Canada Cash Grain Close – Sep 14
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 788.40 -13.00 Nov. 2022 up 7.70
Basis: Thunder Bay 827.70 30.00 Nov. 2022 dn 3.70
Basis: Vancouver 852.70 55.00 Nov. 2022 dn 3.70
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 – Sept 15
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Thursday, 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 922.50 -10.00 Unquoted – –
Oct 927.50 -10.00 Unquoted – –
Nov/Dec 932.50 -20.00 Unquoted – –
Jan/Feb/Mar 950.00 -17.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Sept 925.00 -10.00 Unquoted – –
Oct 930.00 -10.00 Unquoted – –
Nov/Dec 935.00 -20.00 Unquoted – –
Jan/Feb/Mar 952.50 -17.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Sept 845.00 -20.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Sept 680.00 -10.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sept 3750.00 -50.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sept 303.00 -02.00 Unquoted – –
($1=MYR4.532)

DJ China Dalian Grain Futures Closing Prices, Volume – Sep 15
Soybean No. 1
Turnover: 109,675 lots, or 6.39 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-22 – – – 5,889 5,857 5,889 32 0 0
Nov-22 5,876 5,892 5,852 5,880 5,859 5,868 9 70,319 86,166
Jan-23 5,783 5,795 5,760 5,787 5,774 5,774 0 29,684 42,593
Mar-23 5,676 5,692 5,663 5,680 5,668 5,676 8 8,963 13,801
May-23 5,681 5,697 5,666 5,683 5,690 5,682 -8 701 2,462
Jul-23 5,657 5,658 5,635 5,635 5,630 5,647 17 8 320
Corn
Turnover: 329,750 lots, or 9.35 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-22 – – – 2,733 2,771 2,733 -38 0 0
Nov-22 2,806 2,815 2,799 2,808 2,812 2,807 -5 66,134 262,735
Jan-23 2,835 2,841 2,825 2,831 2,835 2,832 -3 217,021 826,526
Mar-23 2,857 2,863 2,848 2,854 2,856 2,853 -3 12,755 184,756
May-23 2,900 2,905 2,882 2,884 2,900 2,893 -7 27,673 73,167
Jul-23 2,907 2,916 2,895 2,895 2,912 2,906 -6 6,167 38,546
Soymeal
Turnover: 1,124,451 lots, or 45.05 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-22 4,942 4,944 4,911 4,911 4,987 4,533 -454 99 0
Nov-22 4,525 4,533 4,420 4,443 4,535 4,459 -76 94,370 224,316
Dec-22 4,257 4,257 4,150 4,172 4,264 4,187 -77 26,214 120,943
Jan-23 4,042 4,042 3,968 3,985 4,049 3,997 -52 861,169 1,445,744
Mar-23 3,897 3,897 3,833 3,850 3,892 3,857 -35 14,078 52,489
May-23 3,740 3,747 3,691 3,705 3,744 3,717 -27 114,912 208,395
Jul-23 3,694 3,704 3,652 3,667 3,697 3,674 -23 8,781 13,500
Aug-23 3,692 3,704 3,656 3,669 3,704 3,674 -30 4,828 7,950
Palm Oil
Turnover: 839,802 lots, or 66.81 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-22 – – – 8,594 8,090 8,594 504 9 0
Oct-22 8,228 8,334 8,136 8,164 8,236 8,244 8 13,108 14,172
Nov-22 8,114 8,204 7,982 8,014 8,132 8,100 -32 14,660 74,994
Dec-22 8,064 8,134 7,918 7,956 8,064 8,046 -18 6,985 52,059
Jan-23 7,960 8,056 7,836 7,870 7,968 7,944 -24 755,377 417,754
Feb-23 7,992 8,056 7,850 7,888 7,968 7,936 -32 6,100 27,872
Mar-23 7,992 8,070 7,866 7,892 7,982 7,982 0 4,232 13,806
Apr-23 7,992 8,088 7,888 7,914 7,986 7,972 -14 2,562 9,917
May-23 8,000 8,104 7,896 7,922 7,996 7,984 -12 36,762 42,047
Jun-23 – – – 7,916 7,916 7,916 0 0 53
Jul-23 8,000 8,020 7,868 7,868 7,938 7,974 36 5 119
Aug-23 7,998 7,998 7,804 7,804 7,900 7,900 0 2 24
Soybean Oil
Turnover: 703,773 lots, or 65.75 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-22 10,100 10,100 10,100 10,100 9,922 10,294 372 529 0
Nov-22 9,922 9,978 9,764 9,780 9,926 9,852 -74 17,300 72,008
Dec-22 9,666 9,726 9,518 9,546 9,666 9,592 -74 10,691 68,750
Jan-23 9,410 9,484 9,236 9,264 9,406 9,354 -52 625,473 437,021
Mar-23 8,972 9,086 8,848 8,876 8,972 8,980 8 3,438 35,374
May-23 8,966 9,076 8,824 8,860 8,936 8,962 26 36,538 41,749
Jul-23 8,852 8,990 8,768 8,784 8,852 8,878 26 3,053 10,099
Aug-23 8,824 8,912 8,700 8,722 8,786 8,794 8 6,751 10,067
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