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

WHEAT
General Comments: Wheat markets were higher on Friday and for the week on what appeared to be massive fund short covering tied to uncertainty about the Black Sea Corridor deal being continued. The USDA reports were bearish for prices. There remains selling tied to uncertainty about exports from the Black Sea and on bad growing conditions in the western Great Plains, where it remains very hot and dry with little or no relief in sight. Turkey and Russia are talking together about their own plan for exports from the Black Sea and are no including the UN in the talks. Russia has said that the current system cannot last. Ideas that big Russian offers and cheaper Russian prices would be a feature for a while in the world market was the driving force for the weaker prices. Ideas are that both Australia and Russia are harvesting record to near record Wheat crops this year. The demand for US Wheat in international markets has been a disappointment all year and has been hindered by low prices and aggressive offers from Russia.
Overnight News: The southern Great Plains should get mostly dry conditions. Temperatures should be above normal. Northern areas should see mostly dry conditions. Temperatures will average above normal. The Canadian Prairies should see mostly dry conditions. Temperatures should average above normal.
Chart Analysis: Trends in Chicago are mixed to down with objectives of 645 and 602 May. Support is at 654, 648, and 642 May, with resistance at 686, 692, and 712 May. Trends in Kansas City are down with objectives of 835, 830, and 809 May. Support is at 840, 813, and 810 May, with resistance at 853, 864, and 871 May. Trends in Minneapolis are down with objectives of 840, 827, and 823 May. Support is at 846, 833, and 827 March, and resistance is at 875, 887, and 899 May.

COT — Supplemental Report – Option and Futures Combined Positions as of April 11, 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 469,091
: Positions :
: 52,603 136,400 158,726 80,316 76,191 131,712 57,651 423,357 428,967: 45,735 40,124
: Changes from: April 4, 2023 (Change in open interest: 19,596) :
: 7,914 13,423 5,431 7,424 -1,544 -1,188 918 19,581 18,229: 15 1,368
: Percent of Open Interest Represented by Each Category of Trader :
: 11.2 29.1 33.8 17.1 16.2 28.1 12.3 90.3 91.4: 9.7 8.6
: Total Traders: 374 Number of Traders in Each Category :
: 107 95 134 88 86 45 31 314 289:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of April 11, 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 193,081
: Positions :
: 27,806 38,005 40,603 41,656 73,789 61,788 19,373 171,852 171,771: 21,229 21,311
: Changes from: April 4, 2023 (Change in open interest: 2,063) :
: 2,582 3,359 -1,867 1,554 2,486 -2,275 -688 -6 3,291: 2,068 -1,228
: Percent of Open Interest Represented by Each Category of Trader :
: 14.4 19.7 21.0 21.6 38.2 32.0 10.0 89.0 89.0: 11.0 11.0
: Total Traders: 224 Number of Traders in Each Category :
: 44 55 64 66 75 34 19 182 177:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 11, 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 63,883 :
: Positions :
: 31,898 37,913 1,207 0 113 9,477 9,232 2,609 4,345 276 2,927 :
: Changes from: April 4, 2023 :
: -928 -557 -78 -29 -290 -684 -235 -1,004 197 -312 -776 :
: Percent of Open Interest Represented by Each Category of Trader :
: 49.9 59.3 1.9 0.0 0.2 14.8 14.5 4.1 6.8 0.4 4.6 :
: Number of Traders in Each Category Total Traders: 98 :
: 47 36 . 0 . 12 10 8 12 . 8 :
—————————————————————————————————————-

RICE:
General Comments: Rice was higher last week in reversal type trading after a couple of days of buying tied to the USDA WASDE estimates released Tuesday. Trends are mostly up on the May daily charts and are turning up on the weekly charts again. Futures have been in a massive move lower for the past week, but that changed once USDA released its new supply and demand estimates that called for less imports and bigger domestic and export demand for all Rice and especially Long Grain. Medium and short grain estimates were unchanged but ending stocks for long grain dropped by 6.0 million cwt as did the ending stocks estimates for all Rice. The moves shocked the market and futures went from slight gains to big gains. Demand has been good from domestic sources and offers seem hard to find right now. Export demand has been uneven and was low last week. Export demand has been an issue for the market all year. Mills are milling for the domestic market in Arkansas and are bidding for some Rice. Markets from Texas to Mississippi are called quiet. Demand in general has been slow to moderate for Rice for exports. Planting remains active in Texas and southern Louisiana with field conditions called very good in Louisiana and too dry in parts of Texas.
Overnight News: The Delta should get scattered showers. Temperatures should be above normal.
Chart Analysis: Trends are mixed to up with objectives of 1805 May. Support is at 1715, 1700, and 1689 May and resistance is at 1760, 1772, and 1778 May.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 11, 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 9,630 :
: Positions :
: 5,215 3,912 0 0 0 387 2,390 21 1,200 606 927 :
: Changes from: April 4, 2023 :
: 183 -407 0 0 0 -35 805 0 173 84 66 :
: Percent of Open Interest Represented by Each Category of Trader :
: 54.1 40.6 0.0 0.0 0.0 4.0 24.8 0.2 12.5 6.3 9.6 :
: Number of Traders in Each Category Total Traders: 53 :
: 17 14 0 0 0 . 13 . 11 5 6 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn closed higher and Oats closed lower last week, with Corn finding support from strong Chinese demand combined with little US producer selling interest. China bought almost 800,000 tons of US Corn last week. The weather is dry and warm in the Midwest and producers are concentrating on fieldwork and are not selling Corn, but the market wants Corn now. WASDE estimates released on Tuesday showed unchanged ending stocks levels for Corn, but the market had anticipated a reduction in ending stocks to account for the less than expected quarterly stocks estimates released a couple of weeks ago. Instead, USDA cut imports and food demand by 10 million bushels each to leave the stocks unchanged. US prices are currently very competitive with those from South America as Brazil concentrates on Soybeans exports and not Corn and US demand has improved because of the price differentials and the lack of a Brazil offer into the market. This trend should continue for the next few months if not longer. Prices from South America should now remain strong as countries there concentrate on Soybeans exports and not Corn. NOAA is forecasting that La Nina will develop this Summer and replace El Nino. US growing conditions are usually good when this happens.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 647, 640, and 628 May, and resistance is at 662, 672, and 682 May. Trends in Oats are down with objectives of 320, 317, and 305 May. Support is at 328, 315, and 310 May, and resistance is at 338, 348, and 353 May.

COT — Supplemental Report – Option and Futures Combined Positions as of April 11, 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 1,681,027
: Positions :
: 180,414 190,911 432,393 505,550 732,832 404,280 105,290 1,522,637 1,461,425: 158,390 219,602
: Changes from: April 4, 2023 (Change in open interest: 10,090) :
: 28,136 14,000 3,480 -6,297 -9,476 3,696 -3,220 29,014 4,783: -18,924 5,307
: Percent of Open Interest Represented by Each Category of Trader :
: 10.7 11.4 25.7 30.1 43.6 24.0 6.3 90.6 86.9: 9.4 13.1
: Total Traders: 751 Number of Traders in Each Category :
: 134 116 189 339 386 54 31 629 638:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 11, 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 4,757 :
: Positions :
: 1,200 1,784 146 0 20 278 1,064 0 557 6 467 :
: Changes from: April 4, 2023 :
: 137 -179 5 0 -2 28 213 0 -18 -1 18 :
: Percent of Open Interest Represented by Each Category of Trader :
: 25.2 37.5 3.1 0.0 0.4 5.8 22.4 0.0 11.7 0.1 9.8 :
: Number of Traders in Each Category Total Traders: 23 :
: 8 7 . 0 . . 6 0 4 . . :
—————————————————————————————————————-

SOYBEANS
General Comments: Soybeans and the products were lower Friday and mixed for the week, with demand ideas for US Soybeans supporting nearby months but good Midwest weather hurting new crop months. Ideas for the WASDE reports from USDA were for lower ending stocks, but USDA on Tuesday left ending stocks unchanged and made no changes to supply or demand. CONAB in Brazil raised production ideas to 164.7 million tons and USDA raised Brazil production estimates to 154 million tons. Reports from Brazil show that basis levels there are under pressure due to the large crop being harvested now. The basis might get higher later in the marketing period as total South American production is probably about the same as last year. Brazil has a very good crop, but the additional Soybeans grown in Brazil will be wiped out by the losses in Argentina. Argentina has been forced to import from Brazil to keeps its crushing facilities operating. Soybeans export demand is flowing to Brazil now. It remains hot but rains are reported in Argentina and crop conditions are getting stable. Even so, production ideas are no higher than 25 million tons, about half a crop. Forecasts from NOAA for very good growing conditions in the Midwest were also a factor, but there is too much rain in most growing areas right now.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed. Support is at 1490, 1483 and 1471 May, and resistance is at 1511, 1522, and 1528 May. Trends in Soybean Meal are mixed to up with objectives of 476.00, 487.00, and 516.00 May. Support is at 455.00, 446.00, and 425.00 May, and resistance is at 470.00, 475.00, and 485.00 May. Trends in Soybean Oil are mixed to down with objectives of 5090, 5050, and 4790 May. Support is at 5130, 5000, and 4880 May, with resistance at 5540, 5630, and 5810 May.

COT — Supplemental Report – Option and Futures Combined Positions as of April 11, 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 882,745
: Positions :
: 130,047 28,055 240,140 271,986 477,637 186,930 49,318 829,103 795,149: 53,642 87,596
: Changes from: April 4, 2023 (Change in open interest: -28,676) :
: -7,151 4,252 -10,608 4,238 -17,996 -3,908 -3,483 -17,428 -27,836: -11,247 -840
: Percent of Open Interest Represented by Each Category of Trader :
: 14.7 3.2 27.2 30.8 54.1 21.2 5.6 93.9 90.1: 6.1 9.9
: Total Traders: 546 Number of Traders in Each Category :
: 164 80 180 180 215 55 21 464 443:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of April 11, 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 528,132
: Positions :
: 35,732 69,090 118,447 212,014 280,669 129,083 25,964 495,277 494,169: 32,855 33,962
: Changes from: April 4, 2023 (Change in open interest: 2,554) :
: 626 130 -2,703 4,379 3,663 -1,211 291 1,092 1,381: 1,462 1,173
: Percent of Open Interest Represented by Each Category of Trader :
: 6.8 13.1 22.4 40.1 53.1 24.4 4.9 93.8 93.6: 6.2 6.4
: Total Traders: 308 Number of Traders in Each Category :
: 53 73 86 95 103 41 27 242 247:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of April 11, 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 485,932
: Positions :
: 96,112 20,870 112,577 106,227 310,708 117,167 8,697 432,083 452,851: 53,848 33,081
: Changes from: April 4, 2023 (Change in open interest: -2,032) :
: 822 -2,675 3,734 -2,761 1,324 -5,107 -4,263 -3,312 -1,880: 1,280 -152
: Percent of Open Interest Represented by Each Category of Trader :
: 19.8 4.3 23.2 21.9 63.9 24.1 1.8 88.9 93.2: 11.1 6.8
: Total Traders: 295 Number of Traders in Each Category :
: 93 34 82 101 105 37 17 259 217:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Palm Oil closed lower last week on the price action in Chicago Soybean Oil and strength in the Ringgit. Futures err higher today along with strength in Chicago Soybean Oil. Trends are down on the daily charts despite news that OPEC was cutting oil production again. Trends are sideways on the weekly charts. There are ideas are that prices can remain elevated due to bad weather in Malaysia but demand remains weaker than hoped for from India and China. Indonesia has not been offering as it tries to build stocks for its own bio fuels industry but it is expected to start offering very soon. Canola was lower Friday on price action in Chicago and as planting and fieldwork delays are passing in favor of warmer and drier weather that is allowing producers to get into the fields. Futures were lower for the week after a very choppy week of trading. Trends are sideways on the daily and weekly charts. Forecasts are for warmer weather to show up in the Prairies this week could start to allow for fieldwork to start. Brazil is expected to dominate the oilseeds market for the next few months. Reports indicate that domestic demand has been strong due to favorable crush margins.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 756.00, 745.00, and 733.00 May, with resistance at 781.00, 789.00, and 798.00 May. Trends in Palm Oil are down with objectives of 3650 June. Support is at 3700, 3680, and 3610 June, with resistance at 3810, 3870, and 3910 June.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 11, 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 49,585 :
: Positions :
: 42,385 29,145 1,210 8,920 420 0 200 0 2,430 7,760 3,140 :
: Changes from: April 4, 2023 :
: 1,040 1,080 0 120 240 0 -40 0 0 -120 80 :
: Percent of Open Interest Represented by Each Category of Trader :
: 85.5 58.8 2.4 18.0 0.8 0.0 0.4 0.0 4.9 15.6 6.3 :
: Number of Traders in Each Category Total Traders: 33 :
: 9 11 . 5 . 0 . 0 5 8 4 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 11, 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 281,333 :
: Positions :
: 213,677 161,079 9,265 2,508 921 21,949 69,510 24,932 1,392 12,499 7,831 :
: Changes from: April 4, 2023 :
: -12,414 -9,199 493 1 87 1,211 -1,212 -2,239 -489 -941 -390 :
: Percent of Open Interest Represented by Each Category of Trader :
: 76.0 57.3 3.3 0.9 0.3 7.8 24.7 8.9 0.5 4.4 2.8 :
: Number of Traders in Each Category Total Traders: 306 :
: 54 64 4 5 4 25 68 24 48 75 48 :
—————————————————————————————————————-

Midwest Weather Forecast: Mostly dry conditions. Temperatures should average above normal.

US Gulf Cash Basis

Corn HRW SRW Soybeans Soybean Meal Soybean Oil
April
185 May
175 May
111 May
119 May

May
185 May
175 May
97 May
111 May

June
185 July
175 May 80 July
121 July

DJ ICE Canada Cash Grain Close – Apr 14
WINNIPEG–The following are the closing cash canola prices from
ICE Futures for April 14, 2023.
Source: ICE Futures
CANOLA
1 Canada NCC Best Bid
Spot Price Basis Contract Change
*Par Region 778.30 7.70 May 23 dn 0.80
Basis: Thunder Bay 771.30 35.00 Jul 23 unchanged
Basis: Vancouver 796.30 60.00 Jul 23 dn 5.00
*Quote for previous day
Source: MarketsFarm (news@marketsfarm.com, or 204-414-9084)

DJ Malaysian PM Cash Market Prices for Palm Oil – April 17
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Monday, supplied by commodity broker Matthes & Porton Bhd.
Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgit a ton. Palm kernel oil prices are in ringgit a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports
Offer Change Bid Change Traded
Apr 1000.00 +10.00 Unquoted – –
May 970.00 +15.00 Unquoted – –
Jun 925.00 +10.00 Unquoted – –
Jul/Aug/Sep 860.00 +10.00 Unquoted – –
Oct/Nov/Dec 852.50 00.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Taded
Apr 1010.00 +10.00 Unquoted – –
May 980.00 +15.00 Unquoted – –
Jun 935.00 +10.00 Unquoted – –
Jul/Aug/Sep 870.00 +10.00 Unquoted – –
Oct/Nov/Dec 862.50 00.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Apr 885.00 +45.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Apr 775.00 +05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Apr 4250.00 00.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Apr 241.00 +04.00 Unquoted – –
($1=MYR4.42)

DJ China Dalian Grain Futures Closing Prices, Volume – Apr 17
Soybean No. 1
Turnover: 171,764 lots, or 8.71 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-23 5,210 5,246 5,172 5,189 5,260 5,218 -42 12,848 24,420
Jul-23 5,087 5,096 5,035 5,057 5,085 5,065 -20 121,993 145,984
Sep-23 5,047 5,059 5,006 5,021 5,048 5,031 -17 27,952 27,136
Nov-23 5,010 5,032 4,982 5,004 5,021 5,006 -15 7,800 29,674
Jan-24 4,998 5,018 4,976 4,991 5,009 4,997 -12 606 3,668
Mar-24 4,980 5,006 4,963 4,983 4,999 4,979 -20 565 4,538
Corn
Turnover: 622,281 lots, or 17.00 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-23 2,749 2,749 2,722 2,723 2,745 2,731 -14 54,399 142,774
Jul-23 2,750 2,757 2,728 2,732 2,750 2,740 -10 420,973 822,469
Sep-23 2,745 2,746 2,717 2,720 2,737 2,729 -8 67,907 229,741
Nov-23 2,716 2,717 2,660 2,692 2,705 2,699 -6 47,769 245,144
Jan-24 2,690 2,700 2,680 2,680 2,686 2,687 1 7,484 27,512
Mar-24 2,681 2,687 2,671 2,677 2,672 2,678 6 23,749 25,170
Soymeal
Turnover: 1,685,183 lots, or 59.75 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-23 3,635 3,683 3,576 3,676 3,655 3,626 -29 311,686 358,236
Jul-23 3,506 3,523 3,461 3,517 3,539 3,492 -47 199,485 360,553
Aug-23 3,560 3,570 3,514 3,565 3,598 3,544 -54 59,477 194,260
Sep-23 3,551 3,563 3,505 3,563 3,588 3,535 -53 973,596 1,103,078
Nov-23 3,543 3,557 3,503 3,554 3,584 3,532 -52 49,127 112,749
Dec-23 3,549 3,555 3,511 3,550 3,580 3,531 -49 27,168 46,690
Jan-24 3,508 3,515 3,473 3,515 3,533 3,493 -40 59,055 125,861
Mar-24 3,470 3,470 3,433 3,469 3,493 3,452 -41 5,589 18,133
Palm Oil
Turnover: 900,622 lots, or 65.68 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Apr-23 – – – 7,810 7,832 7,810 -22 13 0
May-23 7,650 7,688 7,604 7,656 7,690 7,646 -44 260,389 141,998
Jun-23 7,468 7,502 7,408 7,464 7,498 7,458 -40 31,562 102,486
Jul-23 7,334 7,358 7,266 7,328 7,356 7,320 -36 29,632 102,236
Aug-23 7,198 7,256 7,150 7,226 7,232 7,212 -20 16,963 64,585
Sep-23 7,088 7,182 7,046 7,156 7,126 7,120 -6 534,983 373,413
Oct-23 7,070 7,162 7,032 7,144 7,108 7,104 -4 10,082 38,535
Nov-23 7,068 7,146 7,026 7,132 7,102 7,096 -6 13,850 25,035
Dec-23 7,062 7,126 7,014 7,112 7,088 7,078 -10 750 7,174
Jan-24 7,050 7,112 6,948 7,094 7,064 7,062 -2 2,379 4,146
Feb-24 7,052 7,110 7,052 7,110 7,036 7,094 58 9 499
Mar-24 7,006 7,130 7,006 7,130 7,058 7,074 16 10 660
Soybean Oil
Turnover: 746,770 lots, or 59.08 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-23 8,130 8,130 8,002 8,082 8,194 8,066 -128 298,666 145,074
Jul-23 7,850 7,900 7,802 7,876 7,934 7,852 -82 33,547 118,779
Aug-23 7,838 7,874 7,774 7,854 7,914 7,828 -86 10,645 85,111
Sep-23 7,812 7,848 7,742 7,830 7,870 7,804 -66 380,978 401,012
Nov-23 7,800 7,832 7,732 7,824 7,858 7,788 -70 10,604 46,915
Dec-23 7,848 7,900 7,806 7,888 7,922 7,854 -68 5,865 33,368
Jan-24 7,836 7,872 7,762 7,860 7,882 7,816 -66 4,891 18,257
Mar-24 7,798 7,842 7,742 7,836 7,830 7,792 -38 1,574 8,904
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