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 CBOT Delivery Intentions: Totals – Jan 17
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL January Jan 18, 2023 112 Jan 03, 2023
SOYBEAN OIL January Jan 18, 2023 8 Jan 13, 2023
ROUGH RICE January Jan 18, 2023 8 Jan 13, 2023
SOYBEAN January Jan 18, 2023 517 Jan 13, 2023
MINI-SIZED SOYBEANS January Jan 18, 2023 5 Jan 13, 2023

WHEAT
General Comments: Wheat markets were higher last week in response to the USDA reports. USDA estimated Winter Wheat planted area at 37 million acres, from 33.3 million last year. However, current ending stocks were estimated at 567 million bushels, from 571 million last month. World ending stocks levels were increased due to big Russian production and the difficulty of moving grain from the Black Sea. The quarterly stocks report showed supplies at 1.280 billion bushels now, from 1.377 billion last year. There are still ideas of weak demand and big Russian production that should help foster price weakness in the world market. Russia offered to Egypt earlier this week at what were considered very low prices. The demand for US Wheat in international markets has been a disappointment all year and was hindered by low prices and aggressive offers from Russia. Ukraine is also looking for new business for its crops and Russia is aggressive in the world market as it looks for cash to fund the war. The demand for US Wheat still needs to show up and there is still not enough demand news to help support futures.
Overnight News: The southern Great Plains should get mostly dry conditions. Temperatures should average above normal. Northern areas should see isolated showers. Temperatures will average above normal. The Canadian Prairies should see mostly dry conditions. Temperatures should average above normal.
Chart Analysis: Trends in Chicago are mixed, Support is at 721, 714, and 702 March, with resistance at 758, 766, and 772 March. Trends in Kansas City are mixed to up with objectives of 875, 895, and 911 March. Support is at 823, 803, and 792 March, with resistance at 849, 861, and 876 March. Trends in Minneapolis are mixed. Support is at 897, 890, and 888 March, and resistance is at 915, 938, and 942 March.

COT — Supplemental Report – Option and Futures Combined Positions as of January 10, 2023
: 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 394,847
: Positions :
: 36,589 110,048 106,153 70,048 92,795 144,977 46,743 357,767 355,739: 37,080 39,108
: Changes from: January 3, 2023 (Change in open interest: 6,675) :
: 676 11,336 -138 3,409 -7,990 -826 1,966 3,122 5,173: 3,553 1,502
: Percent of Open Interest Represented by Each Category of Trader :
: 9.3 27.9 26.9 17.7 23.5 36.7 11.8 90.6 90.1: 9.4 9.9
: Total Traders: 338 Number of Traders in Each Category :
: 78 96 102 86 93 47 31 269 270:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of January 10, 2023
: 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 176,931
: Positions :
: 14,170 38,121 39,396 42,925 64,971 59,449 12,930 155,940 155,418: 20,991 21,513
: Changes from: January 3, 2023 (Change in open interest: 11,977) :
: -2,867 4,940 6,867 4,935 -1,918 641 1,099 9,576 10,988: 2,401 989
: Percent of Open Interest Represented by Each Category of Trader :
: 8.0 21.5 22.3 24.3 36.7 33.6 7.3 88.1 87.8: 11.9 12.2
: Total Traders: 202 Number of Traders in Each Category :
: 38 43 57 56 67 35 18 155 163:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of January 10, 2023
: 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 57,437 :
: Positions :
: 35,643 34,849 2,474 900 48 3,506 6,210 1,863 2,761 1,014 1,642 :
: Changes from: January 3, 2023 :
: 1,984 696 162 0 48 570 443 -223 -292 441 540 :
: Percent of Open Interest Represented by Each Category of Trader :
: 62.1 60.7 4.3 1.6 0.1 6.1 10.8 3.2 4.8 1.8 2.9 :
: Number of Traders in Each Category Total Traders: 86 :
: 45 33 . . . 7 11 9 5 7 8 :
—————————————————————————————————————-

RICE:
General Comments: Rice was higher in response to the USDA reports. USDA estimated US production at 160.4 million cwt this month, from 164.3 million last month. Ending stocks were estimated at 32.1 million cwt, from 38.1 million last month. Long Grain production was estimated at `18.2 million cwt, from 131.7 million last month. Ending stocks were estimated at 21.8 million cwt, from 27.3 million last month. World ending stocks are now estimated at 169.98 million tons, from 168.64 million last month and are now estimated at 61.98 million tons with China out of the equation, from 60.64 million last month. The US Dollar was sharply lower and world petroleum prices were higher last week to help Rice rally. There is not much going on in the domestic market right now. Most Rice farmers were not paying much attention to the market. Demand in general has been slow to moderate for Rice for both exports and domestic uses.
Overnight News: The Delta should get isolated showers. Temperatures should be near normal.
Chart Analysis: Trends are up with objectives of 1854 and 1901 March. Support is at 1805, 1784, and 1760 March and resistance is at 1822, 1832, and 18537 March.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of January 10, 2023
: 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 8,574 :
: Positions :
: 4,199 4,647 0 0 0 1,124 1,230 119 802 889 739 :
: Changes from: January 3, 2023 :
: 109 -8 0 0 0 -267 -27 -15 199 42 165 :
: Percent of Open Interest Represented by Each Category of Trader :
: 49.0 54.2 0.0 0.0 0.0 13.1 14.3 1.4 9.4 10.4 8.6 :
: Number of Traders in Each Category Total Traders: 51 :
: 14 15 0 0 0 7 5 . 10 8 8 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn and Oats closed higher last week in response to the USDA reports that were considered bullish for prices. USDA cut production to just 13,730 billion bushels, from 13.930 billion last year. Both markets remain in trading ranges on the weekly charts. Harvested acreage was cut to account for the loss. Yields were up 1.0 bushels per acre to 173.3 bu/acre. Ending stocks were cut to 1.242 billion bushels for the US and 296.4 million tons for the world. Quarterly stocks showed that current supplies are 10.809 billion bushels, from 11.641 billion last year. Brazil and Argentina estimates were about unchanged. Demand for US Corn remains muted even as forecasts for only light rains or dry conditions in southern Brazil and Argentina were seen. Brazil has been hanging on for its Summer crop but Argentina has suffered through some extreme drought. The Brazil Winter crop is harvested. Weak demand overall for US Corn remains a big problem for the market. There are 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. China is now moving rapidly to open the economy and allow people to move around with no lockdowns so the demand could start to improve. The improvement might take some time as the Chinese people get Covid, but they should be past this episode in a few weeks and demand might start to improve at that time. South American prices are currently close to or above than those in the US.
Overnight News: Colombia bought 150,000 tons of US Corn.
Chart Analysis: Trends in Corn are mixed to up with objectives of 675 and 681 March. Support is at 664, 659, and 649 March, and resistance is at 677, 680, and 686 March. Trends in Oats are mixed to up with objectives of 371 and 391 March. Support is at 351, 346, and 335 March, and resistance is at 363, 368, and 377 March.

COT – Supplemental Report – Option and Futures Combined Positions as of January 10, 2023
: 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 1,481,932
: Positions :
: 162,214 84,760 334,821 403,048 781,831 426,031 70,213 1,326,113 1,271,624: 155,819 210,308
: Changes from: January 3, 2023 (Change in open interest: 11,999) :
: -28,002 8,352 6,166 30,333 -15,803 2,199 7,451 10,696 6,166: 1,303 5,833
: Percent of Open Interest Represented by Each Category of Trader :
: 10.9 5.7 22.6 27.2 52.8 28.7 4.7 89.5 85.8: 10.5 14.2
: Total Traders: 737 Number of Traders in Each Category :
: 126 100 160 311 393 56 29 574 616:

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of January 10, 2023
: 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 3,849 :
: Positions :
: 877 927 0 64 0 0 1,659 0 793 0 76 :
: Changes from: January 3, 2023 :
: 17 -89 0 64 0 0 204 0 7 0 0 :
: Percent of Open Interest Represented by Each Category of Trader :
: 22.8 24.1 0.0 1.7 0.0 0.0 43.1 0.0 20.6 0.0 2.0 :
: Number of Traders in Each Category Total Traders: 23 :
: 8 5 0 . 0 0 7 0 5 0 . :

SOYBEANS
General Comments: Soybeans were higher last week in response to the USDA reports. Soybean Meal also closed higher and made new highs for the move, but Soybean Oil closed a little lower in range trading. USDA showed production at 4.276 billion bushels, from 4.346 billion last year. USDA cut yields a bit and also cut harvested area. US ending stocks were less than expected at 210 million bushels, from 220 million last month. The quarterly stocks report showed that Soybeans supplies are currently at 1.280 billion bushels, from 1.377 billion last year. Brazil and Argentina production estimates were left unchanged. Soybean Meal closed higher on reports that Argentine Meal basis was at record highs. Farmers are not selling many Soybeans in the US as many are waiting for a rally to sell into. Drier weather is the forecast for this week for southern Brazil and Argentina that could stress crops in both areas again, Current forecasts suggest that the showers will be few and far between and not able to make a real dent in the drought. Central and northern Brazil remain in very good condition with scattered showers reported. Production potential for the Brazil is called very strong even with potential problems and losses in the south. Even so, production of less than 150 million tons is possible now. Argentine production ideas continue to drop with the drought as planting is delayed and the crops already in the ground are stressed. Production estimates are now closer to 40 million tons than original projections near 50 million. There was news that China has started to ease Covid restrictions after some demonstrations by the Chinese people. Ideas that Chinese demand will improve, but this could take some time as a very large part of the population now has Covid. This has delayed a robust economic return for the country. Export demand for the US is on pace for what is needed to meet USDA projections.
Overnight News: Unknown destinations bought 119,000 tons of US Soybens.
Chart Analysis: Trends in Soybeans are mixed to up with objectives of 1537, 1557, and 1574 March. Support is at 1514, 1500, and 1487 March, and resistance is at 1540, 1552, and 1564 March. Trends in Soybean Meal are mixed to up with objectives of 488.00 and 508.00 March. Support is at 471.00, 466.00, and 457.00 March, and resistance is at 485.00, 487.00, and 490.00 March. Trends in Soybean Oil are mixed. Support is at 6190, 6150, and 6120 March, with resistance at 6280, 6450, and 6520 March.

COT — Supplemental Report – Option and Futures Combined Positions as of January 10, 2023
: 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 727,769
: Positions :
: 138,040 41,677 147,449 229,142 407,411 164,603 42,823 679,234 639,360: 48,535 88,409
: Changes from: January 3, 2023 (Change in open interest: 23,773) :
: -4,560 -731 10,420 17,649 11,673 -146 2,786 23,363 24,148: 409 -375
: Percent of Open Interest Represented by Each Category of Trader :
: 19.0 5.7 20.3 31.5 56.0 22.6 5.9 93.3 87.9: 6.7 12.1
: Total Traders: 536 Number of Traders in Each Category :
: 121 105 149 162 219 56 24 419 432:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of January 10, 2023
: 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 408,665
: Positions :
: 52,925 24,684 85,875 123,179 256,830 111,555 15,993 373,534 383,381: 35,131 25,283
: Changes from: January 3, 2023 (Change in open interest: 1,711) :
: -7,886 -88 3,108 9,338 -4,030 -3,186 1,593 1,374 583: 336 1,127
: Percent of Open Interest Represented by Each Category of Trader :
: 13.0 6.0 21.0 30.1 62.8 27.3 3.9 91.4 93.8: 8.6 6.2
: Total Traders: 274 Number of Traders in Each Category :
: 66 43 70 83 96 41 20 216 210:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of January 10, 2023
: 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 454,472
: Positions :
: 121,893 13,885 79,571 70,648 316,151 128,850 14,150 400,961 423,757: 53,510 30,714
: Changes from: January 3, 2023 (Change in open interest: 8,859) :
: 2,146 1,005 10,013 -4,614 -5,314 -5,439 -373 2,106 5,331: 6,753 3,529
: Percent of Open Interest Represented by Each Category of Trader :
: 26.8 3.1 17.5 15.5 69.6 28.4 3.1 88.2 93.2: 11.8 6.8
: Total Traders: 306 Number of Traders in Each Category :
: 90 43 74 86 104 44 18 252 215:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Palm Oil closed lower last week as demand ideas remain uncertain and as the production uncertainty continues. Futures rallied a bit yesterday but made new lows for the move today. Current forecasts call for the rainy season to end soon and for fieldwork and harvest conditions to improve. Indonesia will now permit exporters to sell six tons for every tons sold internally instead of eight as before. Ideas of better demand and less production are still around, with production falling due to seasonal factors. Hopes for improved demand from China were reported. China has tried to relax some Covid restrictions so that the economy can start to function again. However, new outbreaks of the virus are being reported and infection rates are rapidly increasing. Ideas are that supply and production will be strong, but demand ideas are now weakening and the market will continue to look to the private data for clues on demand and the direction of the futures market. There are still reports of too much rain in Malaysia. Canola was lower again last week. Demand for export has been less. Farmers are holding tight to harvested supplies. Reports indicate that domestic demand has been strong due to favorable crush margins. Production was much improved this year on better weather during the Summer.
Overnight News:
Chart Analysis: Trends in Canola are down with objectives of 822.00 March. Support is at 831.00, 810.00, and 800.00 March, with resistance at 852.00, 863.00, and 874.00 March. Trends in Palm Oil are down with objectives of 3740 and 3500 April. Support is at 3840, 3820, and 3760 April, with resistance at 4000, 4040, and 4130 April.
DJ Malaysia Palm Oil Exports for Jan 1-15 Fell 28.5%, SGS Says
Malaysia’s palm oil exports during the January 1-15 period are estimated down 28.5% on month at 453,771 metric tons, cargo surveyor SGS (Malaysia) Bhd. said Tuesday.
The following are the major items in the SGS estimate:
(All figures in metric tons)
January 1-15 December 1-15
RBD Palm Olein 148,539 124,303
RBD Palm Oil 37,016 37,270
RBD Palm Stearin 20,895 31,150
Crude Palm Oil 109,000 193,540
Total* 453,771 634,618
*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 January 10, 2023
: 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 42,482 :
: Positions :
: 34,931 24,741 1,690 7,856 135 80 0 0 4,516 8,650 1,100 :
: Changes from: January 3, 2023 :
: 1,401 431 0 120 0 40 0 0 190 1,100 -140 :
: Percent of Open Interest Represented by Each Category of Trader :
: 82.2 58.2 4.0 18.5 0.3 0.2 0.0 0.0 10.6 20.4 2.6 :
: Number of Traders in Each Category Total Traders: 30 :
: 8 9 . 5 . . 0 0 5 5 4 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of January 10, 2023
: 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 218,344 :
: Positions :
: 171,851 169,371 5,200 2,759 633 19,622 21,713 8,971 3,600 6,013 7,081 :
: Changes from: January 3, 2023 :
: -6,546 -15,982 953 -23 -126 -5,129 3,343 754 -1,460 -71 1,113 :
: Percent of Open Interest Represented by Each Category of Trader :
: 78.7 77.6 2.4 1.3 0.3 9.0 9.9 4.1 1.6 2.8 3.2 :
: Number of Traders in Each Category Total Traders: 244 :
: 49 65 . 5 4 40 27 17 49 44 34 :
—————————————————————————————————————-

Midwest Weather Forecast: Mostly dry conditions or isolated rain and snow showers. Temperatures should average above normal.

US Gulf Cash Basis

Corn HRW SRW Soybeans Soybean Meal Soybean Oil
January
110 Mar
180 Mar
1340 Mar
140 Jan

February
105 Mar
175 Mar
135 Mar
130 Mar

March
100 Mar
165 Mar
135 Mar
120 Mar

DJ ICE Canada Cash Grain Close – Jan 13
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 835.15 -7.25 Mar. 2023 up 10.60
Basis: Thunder Bay 870.00 30.00 Mar. 2023 dn 2.40
Basis: Vancouver 896.00 56.00 Mar. 2023 dn 2.40
All prices in Canadian dollars per metric tonne.
*Quote for previous day.
Source: Commodity News Service Canada (news@marketsfarm.com,
or 204-414-9084)

DJ Malaysian PM Cash Market Prices for Palm Oil – January 17
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Tuesday, 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
Jan 927.50 -07.50 Unquoted – –
Feb 927.50 -07.50 Unquoted – –
March 927.50 -07.50 Unquoted – –
Apr/May/Jun 930.00 -07.50 Unquoted – –
Jul/Aug/Sep 930.00 -07.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 937.50 -07.50 Unquoted – –
Feb 937.50 -07.50 Unquoted – –
March 937.50 -07.50 Unquoted – –
Apr/May/Jun 940.00 -07.50 Unquoted – –
Jul/Aug/Sep 940.00 -07.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 905.00 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jan 695.00 -10.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 3850.00 -50.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 236.00 -03.00 Unquoted – –
($1=MYR4.3238)

DJ China Dalian Grain Futures Closing Prices, Volume – Jan 17
Soybean No. 1
Turnover: 161,002 lots, or 8.70 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-23 5,340 5,465 5,340 5,445 5,335 5,411 76 18,704 23,430
May-23 5,354 5,454 5,339 5,442 5,329 5,403 74 123,481 120,929
Jul-23 5,334 5,427 5,328 5,422 5,316 5,386 70 11,081 30,264
Sep-23 5,358 5,425 5,335 5,420 5,321 5,387 66 3,112 9,155
Nov-23 5,345 5,430 5,342 5,417 5,323 5,388 65 4,606 13,703
Jan-24 5,365 5,415 5,365 5,409 5,323 5,396 73 18 13
Corn
Turnover: 429,555 lots, or 12.34 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-23 2,884 2,894 2,870 2,884 2,880 2,883 3 299,558 735,363
May-23 2,875 2,880 2,862 2,873 2,871 2,871 0 48,936 396,237
Jul-23 2,842 2,856 2,840 2,847 2,846 2,847 1 52,363 335,403
Sep-23 2,832 2,842 2,825 2,834 2,832 2,832 0 4,197 55,398
Nov-23 2,808 2,808 2,790 2,796 2,801 2,798 -3 24,201 91,201
Jan-24 2,803 2,814 2,774 2,781 2,801 2,782 -19 300 244
Soymeal
Turnover: 790,728 lots, or 30.96 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-23 4,266 4,287 4,241 4,272 4,262 4,266 4 86,764 259,984
May-23 3,908 3,910 3,851 3,884 3,895 3,879 -16 549,146 1,279,022
Jul-23 3,851 3,872 3,820 3,848 3,860 3,846 -14 32,256 135,549
Aug-23 3,904 3,917 3,868 3,888 3,904 3,890 -14 29,852 84,237
Sep-23 3,883 3,886 3,834 3,856 3,874 3,859 -15 53,931 195,431
Nov-23 3,823 3,832 3,783 3,805 3,821 3,806 -15 27,175 33,679
Dec-23 3,790 3,799 3,766 3,780 3,784 3,781 -3 7,416 17,147
Jan-24 3,770 3,800 3,730 3,746 3,784 3,752 -32 4,188 2,294
Palm Oil
Turnover: 681,059 lots, or 52.84 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Feb-23 7,596 7,686 7,578 7,638 7,596 7,612 16 12,690 12,839
Mar-23 7,652 7,754 7,640 7,698 7,652 7,696 44 26,021 80,132
Apr-23 7,734 7,800 7,690 7,740 7,706 7,744 38 8,203 60,379
May-23 7,744 7,828 7,708 7,760 7,728 7,762 34 606,670 532,397
Jun-23 7,776 7,846 7,738 7,780 7,776 7,788 12 6,888 36,417
Jul-23 7,806 7,848 7,746 7,792 7,776 7,792 16 7,493 23,129
Aug-23 7,772 7,830 7,728 7,780 7,768 7,778 10 2,418 12,836
Sep-23 7,754 7,824 7,714 7,782 7,754 7,768 14 10,638 18,443
Oct-23 7,700 7,798 7,700 7,798 7,748 7,742 -6 3 37
Nov-23 7,740 7,770 7,700 7,770 7,732 7,728 -4 9 171
Dec-23 7,766 7,766 7,710 7,746 7,716 7,738 22 10 64
Jan-24 7,796 7,796 7,696 7,738 7,716 7,720 4 16 11
Soybean Oil
Turnover: 439,544 lots, or 37.58 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Mar-23 8,806 8,888 8,798 8,844 8,796 8,846 50 11,070 66,167
May-23 8,560 8,598 8,486 8,548 8,512 8,548 36 392,226 421,062
Jul-23 8,506 8,566 8,444 8,500 8,466 8,508 42 5,971 56,542
Aug-23 8,494 8,520 8,422 8,482 8,458 8,486 28 4,507 28,800
Sep-23 8,470 8,494 8,394 8,448 8,442 8,460 18 17,018 34,310
Nov-23 8,474 8,486 8,392 8,444 8,456 8,458 2 5,687 14,904
Dec-23 8,484 8,502 8,410 8,456 8,444 8,456 12 2,988 4,104
Jan-24 8,450 8,478 8,402 8,434 8,444 8,444 0 77 43
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