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 but lower for the week as the war between Russia and Ukraine and demand for US Wheat remained the features.  It was a short covering rally on Friday caused by the US Midwest weather forecast that supported Soybeans and Corn.  Demand for US Wheat needs to improve.  Demand has been poor for US Wheat and should remain bad as Russia production looks strong and exports from Russia have not abated.  It is certain that there will be no grain deal soon for Ukraine exports through the Black Sea and any export from the Danube will be difficult if not impossible.  Ukraine will still be able to ship via land through the EU.  It is unlikely that any ship owner or ship insurer will take the chance on any passage of Ukrainian grain through the Black Sea, and maybe not for Russia, either.  The world access to Wheat from at least one and perhaps both countries is a lot more restricted.  Weather forecasts call for drier weather for the northern Great Plains and Canadian Prairies and some areas will be real hot.  Canada is now suffering potential crop losses due to dry weather.
Overnight News:  The southern Great Plains should get isolated showers.  Temperatures should be above normal.  Northern areas should see isolated showers. Temperatures will average above normal.  The Canadian Prairies should see scattered showers.  Temperatures should average above normal.
Chart Analysis:  Trends in Chicago are mixed.  Support is at 601, 586, and 582 September, with resistance at 626, 643, and 664 September.  Trends in Kansas City are mixed.  Support is at 745, 730, and 727 September, with resistance at 761,  779, and 794 September.  Trends in Minneapolis are mixed.  Support is at 792, 785, and 778 September, and resistance is at 811, 818, and 836 September.
COT — Supplemental Report – Option and Futures Combined Positions as of August 15, 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   465,240
    : Positions                                                                               :
    :   40,509   112,681   156,799    83,680   106,317   144,678    49,680   425,667   425,477:   39,573    39,763
    : Changes from: August 8, 2023             (Change in open interest:      33,946)         :
    :    1,028     9,908    17,352     9,034    -1,174     3,762     5,968    31,176    32,054:    2,771     1,892
    : Percent of Open Interest Represented by Each Category of Trader                         :
    :      8.7      24.2      33.7      18.0      22.9      31.1      10.7      91.5      91.5:      8.5       8.5
    : Total Traders:   386          Number of Traders in Each Category                        :
    :       99       106       121        99        98        50        32       316       297:
——————————————————————————————————————-
COT — Supplemental Report – Option and Futures Combined Positions as of August 15, 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   205,223
    : Positions                                                                               :
    :   28,876    43,111    52,818    41,385    65,508    61,707    19,437   184,787   180,875:   20,436    24,348
    : Changes from: August 8, 2023             (Change in open interest:       4,534)         :
    :   -2,324     2,454     2,935     5,181    -2,578    -1,487      -508     4,305     2,302:      229     2,232
    : Percent of Open Interest Represented by Each Category of Trader                         :
    :     14.1      21.0      25.7      20.2      31.9      30.1       9.5      90.0      88.1:     10.0      11.9
    : Total Traders:   217          Number of Traders in Each Category                        :
    :       41        44        64        63        75        37        17       175       173:
——————————————————————————————————————-
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of August 15, 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    57,484                :
: Positions                                                                                                    :
:   30,357    31,535     1,517       164       510     6,310     7,818     3,028     3,104       996     2,713 :
: Changes from:     August 8, 2023                                                                             :
:    4,927    -1,333       329        22       107    -2,836     3,169      -388      -153        62       636 :
: Percent of Open Interest Represented by Each Category of Trader                                              :
:     52.8      54.9       2.6       0.3       0.9      11.0      13.6       5.3       5.4       1.7       4.7 :
: Number of Traders in Each Category                                  Total Traders:   104                     :
:       54        42         4         .         5         9        13        12         9         6         7 :
—————————————————————————————————————-
RICE:
General Comments:  Rice closed slightly higher on Friday in consolidation trading as the US harvest expands and good yields are reported.  Yields are called average to well above average in the southern US and average to above average so far in Arkansas.  The quality has been a little uneven with some crops affected by the extreme heat in southern areas that has hurt field yields in some areas.  USDA showed that crop progress was a little ahead of the five year average and that crop condition deteriorated slightly from last week and remains a little behind the quality of last year.  India will not allow Rice exports except for Basmati for now because of too much rain on some the crops and not enough for other areas.  Northern areas are too wet and southern areas are too dry.  India is the largest exporter of Rice in the world, so it was big news and one that implies that a sharp increase in world price is now possible.
Overnight News:  The Delta should get isolated showers. Temperatures should be above normal.
Chart Analysis:  Trends are down with objectives of 1530 September.  Support is at 1553, 1536, and 1529 September and resistance is at 1578, 1590, and 1600 September.
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of August 15, 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    10,896                :
: Positions                                                                                                    :
:    3,075     8,503       115         0         0     2,953       450        19     1,533        60       995 :
: Changes from:     August 8, 2023                                                                             :
:       80       -80         6         0         0         8         1       -14        30       -23       -92 :
: Percent of Open Interest Represented by Each Category of Trader                                              :
:     28.2      78.0       1.1       0.0       0.0      27.1       4.1       0.2      14.1       0.6       9.1 :
: Number of Traders in Each Category                                  Total Traders:    57                     :
:       16        18         .         0         0        13         4         .        10         4         7 :
—————————————————————————————————————-
CORN AND OATS
General Comments:  Corn was higher last week on weather concerns.  Weather forecasts remain mostly dry and warm for the Midwest for this week and the next couple of weeks.  The crops are reported to be in mostly good condition now but will need rain constantly to maintain the condition due to the lack of soil moisture from three months of drought that ended at the end of June.  A return to hot and dry weather now could impact yields in a bad way, but ideas are that much of the yield has been already made.  Cooler temperatures after this week will help, but the Corn still needs rain and the lack of rain is more important.  Demand for US Corn in the world market has been very low and domestic demand has been weak due to reduced Cattle and other livestock production.  The Brazil Corn harvest is underway and so export prices for Corn from Brazil are getting relatively cheap and Brazil is getting the business.
Overnight News:  Mexico bought 111,770 tons of US Corn.
Chart Analysis:  Trends in Corn are mixed.  Support is at 473, 462, and 459 September, and resistance is at 486, 495, and 508 September.  Trends in Oats are mixed to up with no objectives.  Support is at 424, 413, and 400 September, and resistance is at 443, 452, and 458 September.
COT — Supplemental Report – Option and Futures Combined Positions as of August 15, 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 1,801,252
    : Positions                                                                               :
    :  125,354   247,780   532,817   547,621   643,178   422,900   139,707 1,628,692 1,563,483:  172,559   237,769
    : Changes from: August 8, 2023             (Change in open interest:      34,557)         :
    :  -15,297    32,854    11,056    28,220   -22,159     1,977     6,466    25,956    28,217:    8,602     6,341
    : Percent of Open Interest Represented by Each Category of Trader                         :
    :      7.0      13.8      29.6      30.4      35.7      23.5       7.8      90.4      86.8:      9.6      13.2
    : Total Traders:   767          Number of Traders in Each Category                        :
    :      105       167       203       369       355        52        32       658       638:
——————————————————————————————————————-
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of August 15, 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     4,367                :
: Positions                                                                                                    :
:      995     2,647       131         0         0       527        72         0       293       143       258 :
: Changes from:     August 8, 2023                                                                             :
:      -82      -200       -13         0         0        23        72         0       -53        -1       -20 :
: Percent of Open Interest Represented by Each Category of Trader                                              :
:     22.8      60.6       3.0       0.0       0.0      12.1       1.6       0.0       6.7       3.3       5.9 :
: Number of Traders in Each Category                                  Total Traders:    22                     :
:        6         9         .         0         0         4         .         0         4         .         . :
—————————————————————————————————————-
SOYBEANS
General Comments:  Soybeans and Soybean Meal were lower last week and Soybean Oil was higher.   Demand forced the soy complex lower early in the week.  Weather forecasts calling for very warm and dry conditions for the Midwest for this week and the next few weeks supported Soybeans futures late in the week and could support futures again this week.  Most longer-range maps indicate the potential for dry weather.  Temperatures are expected to be above normal.  Ideas are that the top end of the yield potential is gone but severe damage has not been reported yet but is becoming possible in some areas.  Reports indicate that bio fuels demand for Soybean Oil is very strong despite the moves in Washington to keep bio fuels demand at more moderate levels and is pushing domestic demand for Soybeans.  Brazil basis levels are still low, and the US is being shut out of the market for most importers, but the US is price competitive now.  Brazil is still selling a lot of Soybeans to China and other countries.  Brazil has a very good crop, but the additional Soybeans grown in Brazil will be partially wiped out by the losses in Argentina.
Overnight News:  Unknown destinations bought 159,350 tons of US SoybeNS.
Chart Analysis:  Trends in Soybeans are mixed to down with no objectives.  Support is at 1320, 1303, and 1289 September, and resistance is at 1353, 1370, and 1376 September.  Trends in Soybean Meal are down with objectives of 387.00 September.  Support is at 395.00, 390.00, and 383.00 September, and resistance is at 404.00, 412.00, and 423.00 September.  Trends in Soybean Oil are mixed to up with objectives of 6700 and 7050 September.  Support is at 6550, 6440, and 6310 September, with resistance at 6910, 7000, and 7120 September.
COT — Supplemental Report – Option and Futures Combined Positions as of August 15, 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   817,683
    : Positions                                                                               :
    :   83,325    59,498   219,883   278,513   423,240   186,816    39,494   768,537   742,115:   49,146    75,569
    : Changes from: August 8, 2023             (Change in open interest:      15,453)         :
    :   -9,599     5,440     8,900    18,921    -1,561    -2,426       410    15,797    13,189:     -344     2,264
    : Percent of Open Interest Represented by Each Category of Trader                         :
    :     10.2       7.3      26.9      34.1      51.8      22.8       4.8      94.0      90.8:      6.0       9.2
    : Total Traders:   552          Number of Traders in Each Category                        :
    :      113       122       166       176       225        53        24       438       453:
——————————————————————————————————————-
COT — Supplemental Report – Option and Futures Combined Positions as of August 15, 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   560,046
    : Positions                                                                               :
    :   54,149    45,722   140,706   183,085   315,465   146,634    32,529   524,575   534,421:   35,472    25,625
    : Changes from: August 8, 2023             (Change in open interest:       7,488)         :
    :    1,513      -865     8,007    -1,731     1,217      -858      -155     6,930     8,204:      558      -716
    : Percent of Open Interest Represented by Each Category of Trader                         :
    :      9.7       8.2      25.1      32.7      56.3      26.2       5.8      93.7      95.4:      6.3       4.6
    : Total Traders:   301          Number of Traders in Each Category                        :
    :       71        54        87        84        96        45        23       251       226:
——————————————————————————————————————-
COT — Supplemental Report – Option and Futures Combined Positions as of August 15, 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   536,935
    : Positions                                                                               :
    :   61,469    21,387   160,935   131,366   310,621   132,942    14,550   486,711   507,492:   50,224    29,443
    : Changes from: August 8, 2023             (Change in open interest:      -1,243)         :
    :  -10,674     4,501    -2,361    16,093    -3,652      -466       703     2,593      -809:   -3,835      -434
    : Percent of Open Interest Represented by Each Category of Trader                         :
    :     11.4       4.0      30.0      24.5      57.9      24.8       2.7      90.6      94.5:      9.4       5.5
    : Total Traders:   298          Number of Traders in Each Category                        :
    :       72        41        92       104       107        41        17       264       229:
——————————————————————————————————————-
CANOLA AND PALM OIL
General Comments:    Palm Oil was higher last week as the private export data released in the middle of the week was strong and on strength in Chicago Soybean Oil.  The market held support and trends are turning up again.  Ideas are that export demand has improved as the private sources reported at 10.8% increase in exports for the month to date yesterday.  Canola was higher on Chicago price action and on dry Prairies growing conditions.  Drier weather is generally forecast for the Prairies.
Overnight News:
Chart Analysis:  Trends in Canola are mixed.  Support is at 793.00, 782.00, and 777.00 November, with resistance at 816.00, 835.00, and 850.00 November.  Trends in Palm Oil are mixed to up with objectives of 4020 and 4160 November.  Support is at 3800, 3700, and 3680 November, with resistance at 3960, 4050, and 4210 November.
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of August 15, 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    44,267                :
: Positions                                                                                                    :
:   38,037    25,937       560     4,650     1,220        40       800         0       690     7,940     3,720 :
: Changes from:     August 8, 2023                                                                             :
:      647       -53       120        80         0      -120         0         0       -40       580      -100 :
: Percent of Open Interest Represented by Each Category of Trader                                              :
:     85.9      58.6       1.3      10.5       2.8       0.1       1.8       0.0       1.6      17.9       8.4 :
: Number of Traders in Each Category                                  Total Traders:    29                     :
:        7         9         .         4         .         .         .         0         4         5         6 :
—————————————————————————————————————-
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of August 15, 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   263,769                :
: Positions                                                                                                    :
:  182,645   180,814     4,528     9,331       764    37,189    27,920    21,910     5,231    11,900     9,693 :
: Changes from:     August 8, 2023                                                                             :
:   15,826     1,336       169    -1,026       682   -12,150     2,557     3,804      -776      -158     2,512 :
: Percent of Open Interest Represented by Each Category of Trader                                              :
:     69.2      68.5       1.7       3.5       0.3      14.1      10.6       8.3       2.0       4.5       3.7 :
: Number of Traders in Each Category                                  Total Traders:   329                     :
:       54        73         4         7         4        55        30        22        49        85        52 :
—————————————————————————————————————-
Midwest Weather Forecast  Mostly dry.  Temperatures should average above normal.
US Gulf Cash Basis
      Corn  HRW   SRW   Soybeans    Soybean Meal      Soybean Oil
August
67 Sep      112 Sep
55 Sep
NQ Nov
September
67 Sep
112 Sep
55 Sep      NQ Nov
October
68 Dec
130 Dec     85 Dec      118 Nov
DJ Malaysian PM Cash Market Prices for Palm Oil – August 21
  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
Sep           872.50     +10.00      Unquoted   –        –
Oct/Nov/Dec   885.00     +10.00      Unquoted   –        –
Jan/Feb/Mar   897.50     +12.50      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Sep           880.00     +10.00      Unquoted   –        –
Oct/Nov/Dec   892.50     +10.00      Unquoted   –        –
Jan/Feb/Mar   905.00     +12.50      Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Sep           820.00       —        Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Sep           820.00       —       Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
              Offer      Change      Bid        Change   Traded
Sep           3950.00      —       Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
              Offer      Change      Bid        Change   Traded
Sep           246.00       —       Unquoted   –        –
($1=MYR4.6445)
DJ China Dalian Grain Futures Closing Prices, Volume – Aug 21
Soybean No. 1
Turnover: 249,742 lots, or 13.01 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Sep-23     5,241     5,273     5,214     5,256     5,244     5,240        -4    35,910    37,182
Nov-23     5,238     5,243     5,178     5,238     5,222     5,214        -8   181,408   129,003
Jan-24     5,164     5,187     5,103     5,176     5,131     5,147        16    30,247    45,492
Mar-24     5,081     5,121     5,030     5,111     5,050     5,086        36     1,186     6,188
May-24     5,078     5,124     5,037     5,117     5,051     5,090        39       875     2,791
Jul-24     5,046     5,080     5,002     5,080     5,013     5,041        28       116       273
Corn
Turnover: 900,161 lots, or 23.81 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Sep-23     2,756     2,775     2,752     2,768     2,750     2,765        15    36,096    89,913
Nov-23     2,647     2,669     2,644     2,653     2,643     2,655        12   613,176   672,841
Jan-24     2,600     2,621     2,596     2,602     2,596     2,606        10   158,895   389,427
Mar-24     2,584     2,604     2,579     2,585     2,582     2,590         8    74,906   119,092
May-24     2,593     2,611     2,591     2,597     2,592     2,599         7    14,484    59,455
Jul-24     2,581     2,601     2,581     2,589     2,583     2,592         9     2,604     6,851
Soymeal
Turnover: 2,866,721 lots, or 12.02 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.         Vol        Open
                                                  Settle                                    Interest
Sep-23     5,000     5,000     4,750     4,958     4,726     4,878       152     427,867     217,025
Nov-23     4,462     4,652     4,461     4,646     4,472     4,586       114     310,040     317,379
Dec-23     4,170     4,341     4,170     4,310     4,171     4,292       121      68,098      62,826
Jan-24     3,990     4,125     3,986     4,088     3,982     4,068        86   1,742,911   1,762,033
Mar-24     3,725     3,827     3,711     3,814     3,711     3,787        76      20,778      68,396
May-24     3,480     3,578     3,475     3,548     3,472     3,533        61     212,118     509,991
Jul-24     3,409     3,487     3,405     3,471     3,420     3,453        33      74,693     403,512
Aug-24     3,442     3,612     3,440     3,501     3,455     3,487        32      10,216      21,414
Palm Oil
Turnover: 922,998 lots, or 70.78 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Sep-23     7,606     7,812     7,606     7,736     7,670     7,708        38    70,843    44,733
Oct-23     7,646     7,810     7,620     7,748     7,694     7,736        42    32,463    57,317
Nov-23     7,664     7,836     7,638     7,752     7,712     7,754        42    17,841    53,779
Dec-23     7,644     7,806     7,600     7,720     7,680     7,726        46    12,469    35,121
Jan-24     7,582     7,768     7,550     7,670     7,630     7,664        34   747,322   442,444
Feb-24     7,584     7,736     7,538     7,648     7,612     7,656        44    13,392    18,660
Mar-24     7,530     7,702     7,516     7,618     7,584     7,634        50     6,887    18,896
Apr-24     7,484     7,650     7,466     7,568     7,536     7,570        34     2,349     3,647
May-24     7,420     7,576     7,390     7,484     7,452     7,476        24    18,991    45,713
Jun-24     7,338     7,480     7,322     7,380     7,404     7,388       -16       178       709
Jul-24     7,270     7,386     7,256     7,284     7,336     7,328        -8       246       879
Aug-24     7,238     7,318     7,226     7,248     7,322     7,258       -64        17        16
Soybean Oil
Turnover: 1,031,125 lots, or 84.18 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Sep-23     8,394     8,578     8,378     8,530     8,438     8,486        48    82,538    96,276
Nov-23     8,360     8,542     8,352     8,494     8,420     8,462        42    45,258    98,565
Dec-23     8,260     8,424     8,236     8,380     8,294     8,348        54     5,013    39,936
Jan-24     8,070     8,242     8,028     8,168     8,104     8,142        38   854,813   557,196
Mar-24     7,798     7,936     7,756     7,876     7,814     7,850        36     1,841    34,172
May-24     7,614     7,744     7,582     7,670     7,638     7,656        18    25,348    61,697
Jul-24     7,516     7,650     7,486     7,568     7,552     7,566        14    10,134   109,245
Aug-24     7,488     7,614     7,450     7,530     7,528     7,530         2     6,180    11,394
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