Grains Report 04/24/2023

DJ Summary for April USDA Monthly Cattle on Feed Data
Data from the U.S. Department of Agriculture’s monthly cattle-on-feed report, released at 3:00 p.m. ET Friday, and analysts’ estimates as compiled by the Wall Street Journal. In million head.
Numbers USDA’s Average Range
2023 2022 estimated of analysts’ of analysts’
% of prev yr estimates estimates
On-feed Apr 1 11.612M 12.145M 96 94.8 94.1- 95.4
Placed in Mar 1.992M 2.005M 99 94.9 91.5- 99.0
Marketed in Mar 1.977M 2.000M 99 98.8 97.2- 99.6
Note: USDA rounds its estimates to the nearest whole number.

DJ Canada Agriculture Agency Raises Canola Stocks Projections
WINNIPEG–Canola ending stocks for both the current marketing year and 2023-24 were raised slightly by Agriculture and Agri-Food Canada in its latest supply/demand projections released Friday.
The government agency lowered its canola export forecast for 2022-23 by 200,000 metric tons from March, now pegging movement at 8.40 million tons. With domestic usage left unchanged at 9.738 million tons, ending stocks were raised to 1.0 million tons from 800,000 the previous month.
The canola carryout for 2023-24 was raised to 1.05 million tons from 850,000 the previous month.
The wheat numbers also saw a minor adjustment, with an increase in old-crop export projections to 24.40 million leading to a matching drop in carryout, now at 4.40 million tons. New-crop Canadian wheat ending stocks were left unchanged at 5.70 million tons.
Statistics Canada is scheduled to release its first survey-based acreage estimates for the 2023 crop on April 26.
Source: MarketsFarm, news@marketsfarm.com

WHEAT
General Comments: Wheat markets were lower on another week of bad export sales and on reports that Russia will meet with the UN on the Black Sea Corridor deal with Russia and Turkey and the UN. Uncertainty about the Black Sea Corridor deal continued. There remains buying tied to uncertainty about exports from the Black Sea and on bad growing conditions in the western Great Plains, where it remains very dry but where showers and potentially very beneficial precipitation are possible. Russia has said that the current system cannot last and seems ready to kill the deal completely. It has been talking to Turkey about the deal and plans to talk to the UN very soon. 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. Both countries will have a lot of Wheat to export.
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, 649, and 642 May, with resistance at 685, 689, and 707 May. Trends in Kansas City are down with objectives of 809 and 742 May. Support is at 827, 810, and 803 May, with resistance at 862, 876, and 886 May. Trends in Minneapolis are down with objectives of 840, 827, and 823 May. Support is at 833, 827, and 825 May, and resistance is at 870, 876, and 895 May.

COT — Supplemental Report – Option and Futures Combined Positions as of April 18, 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 458,928
: Positions :
: 51,530 140,951 141,338 87,709 79,926 132,706 57,596 413,283 419,812: 45,645 39,116
: Changes from: April 11, 2023 (Change in open interest: -10,164) :
: -1,073 4,552 -17,388 7,393 3,736 994 -55 -10,073 -9,156: -90 -1,008
: Percent of Open Interest Represented by Each Category of Trader :
: 11.2 30.7 30.8 19.1 17.4 28.9 12.6 90.1 91.5: 9.9 8.5
: Total Traders: 368 Number of Traders in Each Category :
: 104 99 127 90 83 45 31 304 285:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of April 18, 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 190,739
: Positions :
: 27,438 37,747 37,925 39,280 71,266 63,632 21,147 168,275 168,085: 22,464 22,654
: Changes from: April 11, 2023 (Change in open interest: -2,342) :
: -367 -258 -2,678 -2,375 -2,523 1,844 1,774 -3,577 -3,685: 1,235 1,343
: Percent of Open Interest Represented by Each Category of Trader :
: 14.4 19.8 19.9 20.6 37.4 33.4 11.1 88.2 88.1: 11.8 11.9
: Total Traders: 216 Number of Traders in Each Category :
: 42 48 59 63 75 36 19 178 167:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 18, 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 61,157 :
: Positions :
: 30,284 36,595 1,226 0 139 9,040 9,002 2,098 4,275 295 2,611 :
: Changes from: April 11, 2023 :
: -1,614 -1,318 19 0 26 -437 -230 -511 -70 18 -316 :
: Percent of Open Interest Represented by Each Category of Trader :
: 49.5 59.8 2.0 0.0 0.2 14.8 14.7 3.4 7.0 0.5 4.3 :
: Number of Traders in Each Category Total Traders: 98 :
: 50 39 . 0 . 12 10 7 11 . 8 :
—————————————————————————————————————-

RICE:
General Comments: Rice was lower last week. The main feature of trade was the collapse of May on Thursday in flat price action and on carry spreads after another very poor weekly export sales report. The spread recovered a little on Friday. Longs tried to move out of May and into other months but had a lot of trouble getting this done. It has been a big week for the carry spreads in this market as traders start to prepare for May deliveries starting at the end of this month. Trends are down on the May daily charts but other months show sideways trends at worst. The USDA reports released a week ago are the reason for the buying seen in recent sessions. 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 higher. 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.
Overnight News: The Delta should get widespread rain. Temperatures should be near to below normal.
Chart Analysis: Trends are down with objectives of 1639 and 1556 May. Support is at 1675, 1652, and 1625 May and resistance is at 1701, 1725, and 1746 May.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 18, 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 8,583 :
: Positions :
: 4,323 3,982 0 0 0 441 1,622 21 1,136 548 1,033 :
: Changes from: April 11, 2023 :
: -892 71 0 0 0 54 -768 0 -63 -58 106 :
: Percent of Open Interest Represented by Each Category of Trader :
: 50.4 46.4 0.0 0.0 0.0 5.1 18.9 0.2 13.2 6.4 12.0 :
: Number of Traders in Each Category Total Traders: 55 :
: 19 21 0 0 0 . 11 . 12 . 7 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn and Oats closed lower last week, with Corn finding selling pressure from a bad weekly export sales report but still finding support from little US producer selling interest. The weather was wet and cool in the Midwest last week and producers were not selling Corn, but the market wants Corn now. It is now wet and cold in the Midwest, but producers are still inclined to wait and might have trouble sourcing trucks to haul grain, anyway. Most are thinking about getting into th4e fields and are not even worried about the market. 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. 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: China cancelled purchases of 327,000 tons of US Corn.
Chart Analysis: Trends in Corn are mixed. Support is at 660, 652, and 643 May, and resistance is at 671, 682, and 686 May. Trends in Oats are mixed. Support is at 339, 332, and 328 May, and resistance is at 345, 349, and 353 May.

COT — Supplemental Report – Option and Futures Combined Positions as of April 18, 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 1,690,262
: Positions :
: 177,082 196,312 434,476 491,780 727,908 431,981 114,141 1,535,319 1,472,836: 154,943 217,426
: Changes from: April 11, 2023 (Change in open interest: 9,235) :
: -3,332 5,401 2,083 -13,770 -4,924 27,701 8,851 12,682 11,411: -3,447 -2,177
: Percent of Open Interest Represented by Each Category of Trader :
: 10.5 11.6 25.7 29.1 43.1 25.6 6.8 90.8 87.1: 9.2 12.9
: Total Traders: 758 Number of Traders in Each Category :
: 126 131 194 337 384 56 31 634 642:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 18, 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 4,971 :
: Positions :
: 1,263 1,686 149 108 25 294 1,458 0 575 0 357 :
: Changes from: April 11, 2023 :
: 63 -98 3 108 5 16 394 0 18 -6 -110 :
: Percent of Open Interest Represented by Each Category of Trader :
: 25.4 33.9 3.0 2.2 0.5 5.9 29.3 0.0 11.6 0.0 7.2 :
: Number of Traders in Each Category Total Traders: 25 :
: 8 9 . . . . 7 0 5 0 . :
—————————————————————————————————————-

SOYBEANS
General Comments: Soybeans and the products were lower last week reports that Brazil basis levels are so low that some American processors can import more cheaply than buying from US producers and shipping by rail.. The weekly export sales report showed bad sales. Brazil has been selling a lot of Soybeans to China to feed its record Soybeans demand. Brazil has a very good crop, but the additional Soybeans grown in Brazil will be partially wiped out by the losses in Argentina. Argentina has been forced to import from Brazil to keeps its crushing facilities operating. The US might sell to China for storage purposes as well and could pick up some new business from countries other than China as Brazil ports will be loaded with ships bound for China. The US has also bought Soybeans in Brazil this year due to the extreme differences in prices. Production ideas in Argentina are no higher than 25 million tons, about half a crop, and are mostly lower than this amount. 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 down with objectives of 1434 May. Support is at 1480, 1468 and 1462 May, and resistance is at 1504, 1511, and 1522 May. Trends in Soybean Meal are down with objectives of 444.00, 430.00, and 428.00 May. Support is at 435.00, 422.00, and 417.00 May, and resistance is at 455.00, 469.00, and 466.00 May. Trends in Soybean Oil are mixed to down with objectives of 5090 and 4750 May. Support is at 5260, 5150, and 5000 May, with resistance at 5460, 5630, and 5810 May.

COT — Supplemental Report – Option and Futures Combined Positions as of April 18, 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 856,008
: Positions :
: 144,714 33,458 225,276 239,491 457,109 192,084 54,880 801,564 770,722: 54,443 85,286
: Changes from: April 11, 2023 (Change in open interest: -26,737) :
: 14,667 5,402 -14,864 -32,495 -20,528 5,154 5,562 -27,538 -24,428: 801 -2,310
: Percent of Open Interest Represented by Each Category of Trader :
: 16.9 3.9 26.3 28.0 53.4 22.4 6.4 93.6 90.0: 6.4 10.0
: Total Traders: 555 Number of Traders in Each Category :
: 157 92 175 175 212 58 22 465 441:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of April 18, 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 523,252
: Positions :
: 34,121 71,475 115,422 209,335 279,095 130,377 26,650 489,256 492,643: 33,996 30,609
: Changes from: April 11, 2023 (Change in open interest: -4,880) :
: -1,611 2,385 -3,025 -2,679 -1,574 1,293 687 -6,021 -1,527: 1,141 -3,354
: Percent of Open Interest Represented by Each Category of Trader :
: 6.5 13.7 22.1 40.0 53.3 24.9 5.1 93.5 94.2: 6.5 5.8
: Total Traders: 314 Number of Traders in Each Category :
: 57 74 87 96 101 42 25 245 250:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of April 18, 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 504,548
: Positions :
: 105,776 22,280 116,691 104,393 322,272 122,798 8,105 449,657 469,348: 54,891 35,200
: Changes from: April 11, 2023 (Change in open interest: 18,616) :
: 9,664 1,411 4,114 -1,834 11,565 5,631 -592 17,574 16,497: 1,042 2,119
: Percent of Open Interest Represented by Each Category of Trader :
: 21.0 4.4 23.1 20.7 63.9 24.3 1.6 89.1 93.0: 10.9 7.0
: Total Traders: 298 Number of Traders in Each Category :
: 85 44 80 95 105 38 16 259 214:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Palm Oil was a little higher in quiet trading before the start of the Eid holiday. 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. In fact, exports so far this month are down about 25% from last month. 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 a little higher last week on planting and fieldwork delays that are returning as the weather is cold and wet again. Trends are sideways on the daily and weekly charts. 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 to down with objectives of 739.00, 706.00, and 680.00 May. Support is at 756.00, 745.00, and 733.00 May, with resistance at 772.00, 787.00, and 789.00 May. Trends in Palm Oil are mixed. Support is at 3640, 3530, and 3460 July, with resistance at 3820, 3880, and 3940 July.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 18, 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 51,085 :
: Positions :
: 44,465 30,585 1,210 9,240 620 0 200 0 1,980 7,630 2,810 :
: Changes from: April 11, 2023 :
: 2,080 1,440 0 320 200 0 0 0 -450 -130 -330 :
: Percent of Open Interest Represented by Each Category of Trader :
: 87.0 59.9 2.4 18.1 1.2 0.0 0.4 0.0 3.9 14.9 5.5 :
: Number of Traders in Each Category Total Traders: 33 :
: 9 11 . 5 . 0 . 0 6 7 5 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of April 18, 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 279,659 :
: Positions :
: 208,476 161,411 9,686 2,246 786 23,680 69,132 24,624 1,820 9,915 9,316 :
: Changes from: April 11, 2023 :
: -5,201 332 421 -262 -135 1,732 -379 -308 427 -2,583 1,485 :
: Percent of Open Interest Represented by Each Category of Trader :
: 74.5 57.7 3.5 0.8 0.3 8.5 24.7 8.8 0.7 3.5 3.3 :
: Number of Traders in Each Category Total Traders: 306 :
: 54 67 4 5 4 27 67 23 52 68 51 :
—————————————————————————————————————-

Midwest Weather Forecast: Light rain and snow. Temperatures should average below normal.

US Gulf Cash Basis

Corn HRW SRW Soybeans Soybean Meal Soybean Oil
April
93 May
180 May
105 May
98 May

May
85 May
180 May
105 May
98 May

June
112 July
175 July 70 July
120 July

DJ ICE Canada Cash Grain Close – Apr 21
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 756.80 -1.00 May 2023 dn 24.10
Basis: Thunder Bay 764.90 35.00 July 2023 up 2.00
Basis: Vancouver 789.90 60.00 July 2023 up 2.00
All prices in Canadian dollars per metric tonne.
*Quote for previous day.
Source: MarketsFarm (news@marketsfarm.com, 204-414-9084)

DJ China Dalian Grain Futures Closing Prices, Volume – Apr 24
Soybean No. 1
Turnover: 241,794 lots, or 11.89 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-23 4,968 5,030 4,968 5,010 5,001 5,003 2 3,880 10,963
Jul-23 4,880 4,958 4,870 4,952 4,895 4,928 33 179,262 147,557
Sep-23 4,830 4,914 4,830 4,904 4,860 4,886 26 38,206 27,272
Nov-23 4,816 4,886 4,814 4,879 4,836 4,859 23 19,423 32,708
Jan-24 4,808 4,876 4,808 4,876 4,822 4,855 33 676 4,765
Mar-24 4,807 4,860 4,799 4,860 4,811 4,838 27 347 5,077
Corn
Turnover: 887,488 lots, or 23.65 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-23 2,650 2,663 2,640 2,648 2,670 2,649 -21 24,428 55,977
Jul-23 2,680 2,685 2,659 2,672 2,691 2,673 -18 585,784 910,957
Sep-23 2,656 2,672 2,648 2,661 2,676 2,660 -16 77,137 274,158
Nov-23 2,651 2,653 2,635 2,641 2,651 2,644 -7 133,957 271,865
Jan-24 2,650 2,657 2,637 2,640 2,651 2,646 -5 10,755 44,937
Mar-24 2,642 2,649 2,631 2,635 2,642 2,638 -4 55,427 28,659
Soymeal
Turnover: 1,668,565 lots, or 56.88 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-23 3,534 3,601 3,498 3,595 3,586 3,543 -43 134,337 155,302
Jul-23 3,362 3,395 3,314 3,388 3,393 3,355 -38 162,426 376,477
Aug-23 3,400 3,446 3,365 3,438 3,441 3,405 -36 68,130 214,981
Sep-23 3,403 3,440 3,362 3,431 3,434 3,403 -31 1,098,366 1,348,922
Nov-23 3,400 3,434 3,357 3,425 3,430 3,396 -34 72,097 136,707
Dec-23 3,410 3,438 3,369 3,433 3,439 3,403 -36 39,714 58,451
Jan-24 3,384 3,420 3,354 3,413 3,413 3,385 -28 84,123 170,388
Mar-24 3,342 3,375 3,318 3,370 3,372 3,343 -29 9,372 27,290
Palm Oil
Turnover: 986,431 lots, or 70.38 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-23 7,750 7,750 7,432 7,458 7,748 7,568 -180 80,555 35,361
Jun-23 7,508 7,540 7,364 7,388 7,556 7,462 -94 49,053 103,306
Jul-23 7,306 7,372 7,198 7,218 7,388 7,302 -86 39,415 109,105
Aug-23 7,180 7,226 7,062 7,076 7,240 7,158 -82 18,191 76,224
Sep-23 7,090 7,146 6,970 7,000 7,154 7,062 -92 763,895 456,652
Oct-23 7,074 7,122 6,960 6,980 7,138 7,042 -96 13,639 41,313
Nov-23 7,066 7,110 6,950 6,978 7,130 7,030 -100 15,961 30,233
Dec-23 7,054 7,110 6,916 6,962 7,118 7,022 -96 1,274 8,052
Jan-24 7,068 7,108 6,962 6,990 7,106 7,024 -82 4,270 12,085
Feb-24 7,026 7,046 6,992 6,992 7,104 7,028 -76 8 499
Mar-24 7,066 7,066 6,974 6,984 7,096 6,980 -116 164 1,203
Apr-24 7,096 7,096 7,002 7,002 7,124 7,042 -82 6 18
Soybean Oil
Turnover: 908,706 lots, or 68.89 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-23 7,920 7,940 7,788 7,810 7,980 7,858 -122 61,004 53,713
Jul-23 7,600 7,708 7,550 7,588 7,708 7,622 -86 49,841 127,551
Aug-23 7,588 7,678 7,516 7,562 7,690 7,588 -102 12,793 91,892
Sep-23 7,560 7,646 7,476 7,528 7,650 7,556 -94 752,660 515,740
Nov-23 7,578 7,630 7,474 7,520 7,634 7,544 -90 14,805 54,718
Dec-23 7,612 7,702 7,548 7,590 7,726 7,616 -110 6,814 35,053
Jan-24 7,592 7,672 7,518 7,560 7,668 7,580 -88 8,431 26,579
Mar-24 7,570 7,650 7,506 7,542 7,664 7,558 -106 2,358 11,064
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