Grains Report 05/15/2023

DJ CBOT Delivery Intentions: Totals – May 15
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL May May 16, 2023 53 May 12, 2023
SOYBEAN OIL May May 16, 2023 118 Apr 28, 2023
CORN May May 16, 2023 44 Apr 06, 2023
SOYBEAN May May 16, 2023 66 May 04, 2023
WHEAT May May 16, 2023 65 May 12, 2023
MINI-SIZED WHEAT May May 16, 2023 20 May 01, 2023

DJ USDA Report: Summary for U.S. Agriculture Supply, Demand
WASHINGTON–The following are key numbers from USDA’s crop report and
how the government’s estimates compared to analysts’ forecasts in a
Wall Street Journal survey.
U.S. Corn, Soybean Production (million bushels)
Friday’s
Estimate Average Range
Corn 15,265 15,098 13,730-15,300
Soybean 4,510 4,484 4,276-4,510
***
U.S. Stockpiles (million bushels)
2022-23 Friday’s
Estimate Average Range USDA April
Corn 1,417 1,356 1,242-1,417 1,342
Soybeans 215 212 179-250 210
Wheat 598 603 585-622 598
2023-24 Friday’s
Estimate Average Range USDA April
Corn 2,222 2,034 1,550-2,501 na
Soybeans 335 282 225-367 na
Wheat 556 602 535-650 na
***
World Stockpiles (million metric tons)
2022-23 Friday’s
Estimate Average Range USDA April
Corn 297.4 294.2 269.5-307.0 295.4
Soybeans 101.0 99.4 97.0-102.0 100.3
Wheat 266.3 265.1 263.0-266.2 265.1
2023-24 Friday’s
Estimate Average Range USDA April
Corn 312.9 307.5 295.0-327.1 na
Soybeans 122.5 105.8 99.5-122.0 na
Wheat 264.3 260.6 245.7-270.0 na
***
2023-24 Wheat Production (million bushels)
Friday’s Average Range
Estimate
Winter Wheat 1,130 1,218 1,080-1,371
Hard Red Winter 514 588 492-712
Soft Red Winter 406 397 337-439
White Winter 210 238 216-270
***
2022-23 Brazil Production (million metric tons)
Friday’s
Estimate Average Range USDA April
Corn 130.0 125.9 123.0-131.6 125.0
Soybeans 155.0 154.6 153.0-157.7 154.0
2022-23 Argentina Production (million metric tons)
Friday’s
Estimate Average Range USDA April
Corn 37.0 35.0 34.0-37.0 37.0
Soybeans 27.0 24.4 22.0-26.0 27.0

DJ USDA Supply/Demand: Crop Summary – May 12
U.S. ending stocks in million bushels, except soyoil in million pounds,
cotton in million (480 pound) bales and rice in million cwt. Exports and
Production in million metric tons except cotton in million (480 pound) bales.
Projections based on trends and analysts’ judgments, not survey
date. Source: USDA’s World Agricultural Outlook Board.
======U.S.====== ================WORLD=======================
Ending Stocks Exports Production
23/24 22/23 21/22: 23/24 22/23 21/22: 23/24 22/23 21/22
Soybeans 335.0 215.0 274.0:172.41 168.37 154.02:410.59 370.42 359.85
Brazil na na na: 96.50 93.00 79.06:163.00 155.00 130.50
Argentina na na na: 4.60 3.30 2.86: 48.00 27.00 43.90
China na na na: 0.10 0.10 0.10: 20.50 20.28 16.40
Soyoil 1,831 1,936 1,991: 11.78 10.84 12.24: 62.47 58.92 59.22
Corn 2,222 1,417 1,377:195.26 175.44 206.18: 1,220 1,150 1,217
China na na na: 0.02 0.02 0.00:280.00 277.20 272.55
Argentina na na na: 40.50 25.00 34.69: 54.00 37.00 49.50
S.Africa na na na: 3.40 3.40 3.40: 16.80 16.70 16.14
Cotton(a) 3.30 3.50 3.75: 42.85 38.27 43.00:115.69 116.36 115.78
All Wheat 556 598 698:209.72 215.24 202.98:789.76 788.26 780.29
China na na na: 0.90 0.90 0.88:140.00 137.72 136.95
European
Union na na na: 38.00 34.50 32.00:139.00 134.34 138.24
Canada na na na: 27.50 26.00 15.12: 37.00 33.82 22.42
Argentina na na na: 13.50 5.50 16.00: 19.50 12.55 22.15
Australia na na na: 21.00 31.00 27.51: 29.00 39.00 36.24
Russia na na na: 45.50 44.50 33.00: 81.50 92.00 75.16
Ukraine na na na: 10.00 15.00 18.84: 16.50 20.90 33.01
Sorghum 30.0 25.0 47.0: na na na: na na na
Barley 85.0 66.0 42.0: na na na: na na na
Oats 29.0 32.0 33.0: na na na: na na na
Rice 31.3 27.6 39.7: 55.81 55.49 56.87:520.52 508.41 513.87

WHEAT
General Comments: Wheat markets were mostly higher, with Kansas City leading the way and Minneapolis trading higher. Chicago SRW futures were lower. The moves came in part in reaction to the USDA production estimates released on Friday. Soft Red Winter production was estimated 21% higher than a year ago at 406 million bushels. Hard Red Winter production was down 3% at 514 million bushels and White production was estimated 11% lower at 210 million bushels. USDA also cut demand so ending stocks estimates were 266.3 million bushels for the current crop and 264.3 million for the next crop. Planting of Spring Wheat has been delayed due to wet soils from melting snow and now from reports of dry weather in western production areas of both the US and Canada. Dry conditions are a developing problem in Russia, and especially in the Spring Wheat areas there. Uncertainty about the Black Sea Corridor deal continued. Russia has said that the current system cannot last and seems ready to kill the deal completely. 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.
Overnight News: The southern Great Plains should get isolated showers. 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 up with objectives of 690 and 715 July. Support is at 626, 611, and 602 July, with resistance at 654, 670, and 682 July. Trends in Kansas City are up with objectives of 938 July. Support is at 854, 838, and 832 July, with resistance at 900, 910, and 920 July. Trends in Minneapolis are mixed to up with objectives of 910 July. Support is at 832, 825, and 815 July, and resistance is at 865, 876, and 886 July.

Winter wheat production is forecast at 1.13 billion bushels, up 2 percent
from 2022. As of May 1, the United States yield is forecast at 44.7 bushels
per acre, down 2.3 bushels from last year’s average yield of 47.0 bushels per
acre. Area expected to be harvested for grain or seed is forecast at 25.3
million acres, up 8 percent from last year.

Hard Red Winter production, at 514 million bushels, is down 3 percent from a
year ago. Soft Red Winter, at 406 million bushels, is up 21 percent from
2022. White Winter, at 210 million bushels, is down 11 percent from last
year. Of the White Winter production, 10.2 million bushels are Hard White and
200 million bushels are Soft White.

COT — Supplemental Report – Option and Futures Combined Positions as of May 09, 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 461,528
: Positions :
: 51,587 154,095 145,535 86,473 61,578 136,412 64,345 420,006 425,553: 41,522 35,976
: Changes from: May 2, 2023 (Change in open interest: -953) :
: -1,243 -6,834 2,664 -2,180 3,460 3,512 332 2,753 -377: -3,707 -576
: Percent of Open Interest Represented by Each Category of Trader :
: 11.2 33.4 31.5 18.7 13.3 29.6 13.9 91.0 92.2: 9.0 7.8
: Total Traders: 379 Number of Traders in Each Category :
: 104 108 118 94 82 45 32 306 286:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of May 09, 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 207,854
: Positions :
: 32,984 42,196 45,827 43,947 70,839 63,719 24,390 186,477 183,252: 21,377 24,602
: Changes from: May 2, 2023 (Change in open interest: 5,126) :
: 3,698 -7,358 2,450 451 9,971 1,794 -321 8,393 4,742: -3,267 384
: Percent of Open Interest Represented by Each Category of Trader :
: 15.9 20.3 22.0 21.1 34.1 30.7 11.7 89.7 88.2: 10.3 11.8
: Total Traders: 223 Number of Traders in Each Category :
: 44 51 56 57 75 36 20 165 178:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of May 9, 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 59,703 :
: Positions :
: 34,120 31,054 1,370 0 73 4,748 13,066 2,265 3,171 260 3,339 :
: Changes from: May 2, 2023 :
: 3,211 1,802 284 -184 -15 -96 16 357 468 -8 201 :
: Percent of Open Interest Represented by Each Category of Trader :
: 57.1 52.0 2.3 0.0 0.1 8.0 21.9 3.8 5.3 0.4 5.6 :
: Number of Traders in Each Category Total Traders: 104 :
: 54 39 . 0 . 12 16 7 8 . 8 :
—————————————————————————————————————-

RICE:
General Comments: Rice closed higher last week and closed at new highs for the move. USDA left its ending stocks estimate unchanged for the current crop year and also for the next crop year despite a rebound in production for the next crop. Ending stocks were estimated at 16.8 million cwt for both crop years. Production for the current year was unchanged at 128.2 million cwt and higher for the coming year at 142.0 million cwt. Domestic and e3xport demand were higher for next year to take care of the increased production. The weekly export sales report showed average sales volumes. Traders were getting ready for the WASDE report to be released later today. Offers still seem hard to find right now, but demand has been a problem all year. 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, but at l4east some mills say they now have enough bought to last until the harvest of the next crop.
Overnight News: The Delta should get moistly dry conditions r isolated showers. Temperatures should be near to above normal.
Chart Analysis: Trends are up with objectives of 1881 and 1922 July. Support is at 1840, 1833, and 1815 July and resistance is at 1861, 1866, and 1876 July.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of May 9, 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 8,817 :
: Positions :
: 3,717 5,935 0 0 0 888 502 12 1,513 290 810 :
: Changes from: May 2, 2023 :
: -7 1,414 0 0 0 285 -807 -17 126 -29 299 :
: Percent of Open Interest Represented by Each Category of Trader :
: 42.2 67.3 0.0 0.0 0.0 10.1 5.7 0.1 17.2 3.3 9.2 :
: Number of Traders in Each Category Total Traders: 48 :
: 15 20 0 0 0 6 . . 14 . 5 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn closed lower last week and Oats closed higher, with Corn hurt by ideas of weak demand. The weekly export sales report showed poor demand. USDA’s ending stocks estimates were higher and above trade expectations at 1.417 billion bushels for the current crop and 2.222 billion for the new crop. New crop production was estimated above trade expectations at 15.265 billion bushels due to strong yield potential and expanded planted area. Reports of strong planting progress and less Chinese demand hurt the Corn price action. Corn is still finding some support from little US producer selling interest. Most producers are in the fields and are not even worried about the market. Warmer and drier weather for good planting is expected for the rest of this week, but showers are possible again this weekend. 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. NOAA is forecasting that La Nina will develop this Summer and replace El Nino. US growing conditions are usually good when this happens but there are concerns about ocean water temperatures that are increasing rapidly in the Pacific and have alarmed some forecasters.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 579, 572, and 569 July, and resistance is at 594, 600, and 602 July. Trends in Oats are up with objectives of 342 July. Support is at 322, 310, and 300 July, and resistance is at 345, 352, and 360 July.

COT — Supplemental Report – Option and Futures Combined Positions as of May 09, 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 1,680,175
: Positions :
: 132,356 276,715 429,465 521,417 612,285 427,456 148,965 1,510,694 1,467,429: 169,481 212,746
: Changes from: May 2, 2023 (Change in open interest: 60,508) :
: 4,153 -4,918 39,666 12,802 25,345 -1,636 5,167 54,984 65,260: 5,524 -4,752
: Percent of Open Interest Represented by Each Category of Trader :
: 7.9 16.5 25.6 31.0 36.4 25.4 8.9 89.9 87.3: 10.1 12.7
: Total Traders: 756 Number of Traders in Each Category :
: 126 147 192 341 353 55 33 632 626:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of May 9, 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 4,618 :
: Positions :
: 924 1,137 112 106 18 274 1,390 47 520 18 314 :
: Changes from: May 2, 2023 :
: -181 194 -14 -16 6 -62 -348 0 -86 -173 -161 :
: Percent of Open Interest Represented by Each Category of Trader :
: 20.0 24.6 2.4 2.3 0.4 5.9 30.1 1.0 11.3 0.4 6.8 :
: Number of Traders in Each Category Total Traders: 23 :
: 6 5 . . . . 6 . . . . :
—————————————————————————————————————-

SOYBEANS
General Comments: Soybeans and the products were lower last week, with selling on Friday seen n response to the latest USDA WASDE reports. USDA estimated the new crop production at 4.510 billion bushels against expectations of production near 4.485 billion. Ending stocks for the current crop year were estimated at 215 million bushels and ending stocks for the coming year were estimated at 3.335 million. Brazil production went up a million tons to 155 million but Argentine production was left unchanged at 27 million. The weekly export sales report showed bad demand for Soybeans and Soybean Oil and good demand for Soybean Meal. Brazil basis levels are still so low that some American processors can import more cheaply than buying from US producers. Reports last week indicated that the basis is forming in Brazil, but prices for Brazil Soybeans remain cheap compared to those found in the US. Brazil has been selling a lot of Soybeans to China to feed its Soybeans demand, but Chinese customs is now making delivery of the beans very difficult by delaying entry into the country by about two weeks. 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. Forecasts from NOAA for very good growing conditions in the Midwest were also a factor, but there are concerns about ocean water temperatures that are increasing rapidly in the Pacific and have alarmed some forecasters.
Overnight News: Poland bought 100,000 tons of US Soybean Meal.
Chart Analysis: Trends in Soybeans are mixed to down with no objectives. Support is at 1384, 1372, and 1360 July, and resistance is at 1405, 1418, and 1430 July. Trends in Soybean Meal are mixed to up with objectives of 437.00 and 451.00 July. Support is at 430.00, 424.00, and 416.00 July, and resistance is at 437.00, 442.00, and 450.00 July. Trends in Soybean Oil are mixed to down with no objectives. Support is at 4800, 4680, and 4560 July, with resistance at 5060, 5090, and 5240 July.

COT — Supplemental Report – Option and Futures Combined Positions as of May 09, 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 762,666
: Positions :
: 96,953 69,926 175,736 258,649 381,481 181,476 56,755 712,815 683,898: 49,851 78,768
: Changes from: May 2, 2023 (Change in open interest: 29,648) :
: -3,381 6,466 6,753 21,195 12,582 4,767 3,956 29,334 29,757: 314 -109
: Percent of Open Interest Represented by Each Category of Trader :
: 12.7 9.2 23.0 33.9 50.0 23.8 7.4 93.5 89.7: 6.5 10.3
: Total Traders: 530 Number of Traders in Each Category :
: 114 125 162 161 203 56 20 422 430:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of May 09, 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 524,176
: Positions :
: 49,416 79,771 112,961 203,527 271,235 126,543 28,534 492,447 492,502: 31,729 31,674
: Changes from: May 2, 2023 (Change in open interest: 15,516) :
: 5,704 -7,825 10,024 150 16,151 126 -1,074 16,004 17,277: -487 -1,760
: Percent of Open Interest Represented by Each Category of Trader :
: 9.4 15.2 21.6 38.8 51.7 24.1 5.4 93.9 94.0: 6.1 6.0
: Total Traders: 317 Number of Traders in Each Category :
: 58 76 94 90 106 39 23 241 257:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of May 09, 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 501,524
: Positions :
: 71,121 29,940 134,228 123,761 294,528 125,188 11,257 454,298 469,953: 47,226 31,571
: Changes from: May 2, 2023 (Change in open interest: 28,090) :
: 2,323 1,386 9,242 13,445 12,530 2,815 3,954 27,825 27,113: 265 977
: Percent of Open Interest Represented by Each Category of Trader :
: 14.2 6.0 26.8 24.7 58.7 25.0 2.2 90.6 93.7: 9.4 6.3
: Total Traders: 287 Number of Traders in Each Category :
: 64 59 87 86 101 36 17 235 224:
——————————————————————————————————————-

CANOLA AND PALM OIL
General Comments: Palm Oil was lower last week on Chicago price action and on ideas of reduced supplies and production. Futures were lower on follow through selling today. The rebound did not happen in April as production was 7% less than March at 1.196 million tons. Exports were also down and ending stocks were estimated at 1.597 million tons, down over 10% from last month. The report was expected to support Palm Oil futures at this time. Trends are still sideways on the weekly charts and are now sideways on the daily charts. Canola was lower last week along with the price action in Chicago. Trends are mixed on the 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. It is very dry in the Canadian Prairies, and especially in western sections. Producers want to plant but are hoping for some moisture. Only isolated showers are in the forecast.
Overnight News:
Chart Analysis: Trends in Canola are mixed to down with objectives of 709.00, 694.00, and 684.00 July. Support is at 701.00, 696.00, and 682.00 July, with resistance at 726.00, 741.00, and 748.00 July. Trends in Palm Oil are mixed. Support is at 3550, 3530, and 3500 July, with resistance at 3700, 3840, and 3880 July.

DJ Malaysia May 1-15 Palm Oil Exports 523,042 Tons, Up 5.2%, AmSpec Says
Malaysia’s palm oil exports during the May 1-15 period are estimated up 5.2% on month at 523,042 metric tons, cargo surveyor AmSpec Agri Malaysia said Monday.
The following are the major items in the AmSpec estimate:
(All figures in metric tons)
May 1-15 April 1-15
RBD Palm Olein 113,450 159,733
RBD Palm Oil 32,625 55,790
RBD Palm Stearin 51,292 45,575
Crude Palm Oil 144,055 68,850
Total* 523,042 497,353
*Palm oil product volumes don’t add up to total as some products aren’t included.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of May 9, 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 49,100 :
: Positions :
: 43,230 28,620 1,270 9,110 640 0 240 0 1,640 8,110 2,320 :
: Changes from: May 2, 2023 :
: 1,220 -540 0 480 0 0 0 0 320 1,600 -200 :
: Percent of Open Interest Represented by Each Category of Trader :
: 88.0 58.3 2.6 18.6 1.3 0.0 0.5 0.0 3.3 16.5 4.7 :
: Number of Traders in Each Category Total Traders: 31 :
: 8 9 . 4 . 0 . 0 . 9 4 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of May 9, 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 263,439 :
: Positions :
: 203,246 141,712 8,752 2,186 1,263 21,914 78,544 18,772 2,059 12,698 6,221 :
: Changes from: May 2, 2023 :
: 3,278 7,039 -1,178 410 119 3,047 -2,478 -516 197 353 -143 :
: Percent of Open Interest Represented by Each Category of Trader :
: 77.2 53.8 3.3 0.8 0.5 8.3 29.8 7.1 0.8 4.8 2.4 :
: Number of Traders in Each Category Total Traders: 313 :
: 54 69 4 6 5 23 69 23 46 83 46 :
—————————————————————————————————————-

Midwest Weather Forecast: Showers and storms. Temperatures should average near to above normal.

US Gulf Cash Basis

Corn HRW SRW Soybeans Soybean Meal Soybean Oil
April
80 May
175 May
105 May
90 May

May
75 May
175 May
105 May
90 May

June
100 July
173 July 70 July
110 July

DJ ICE Canada Cash Grain Close – May 11
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 754.70 20.00 July 2023 dn 11.40
Basis: Thunder Bay 764.10 40.00 July 2023 dn 10.60
Basis: Vancouver 779.10 55.00 July 2023 dn 10.60
All prices in Canadian dollars per metric tonne.
*Quote for previous day.
Source: MarketsFarm (news@marketsfarm.com, 204-414-9084)

DJ Malaysian PM Cash Market Prices for Palm Oil – May 15
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
May 920.00 -10.00 Unquoted – –
Jun 915.00 -10.00 Unquoted – –
Jul/Aug/Sep 850.00 -10.00 Unquoted – –
Oct/Nov/Dec 830.00 -17.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
May 930.00 -10.00 Unquoted – –
Jun 925.00 -10.00 Unquoted – –
Jul/Aug/Sep 860.00 -10.00 Unquoted – –
Oct/Nov/Dec 840.00 -17.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
May 860.00 -15.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
May 770.00 -25.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 3870.00 -30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 240.00 00.00 Unquoted – –
($1=MYR4.4987)

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