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
Grains Report 09/18/2023
WHEAT
General Comments: Wheat markets closed higher last week. The WASDE reports released on Tuesday showed much less than expected world ending stocks estimates. USDA left US ending stocks unchanged and about as expected, but the dramatic drop in world stocks caught traders by surprise and implied that a rally is possible for US Wheat sooner or later. Demand has been poor for US Wheat 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 due to bombing by the Russians. Ukraine will still be able to ship via land through the EU but this is considered to be a very expensive option for them. 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 as Ukraine has started to bomb Russian ports. 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 Australia and Argentina, with production losses now expected for both countries.
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 584, 570, and 564 December, with resistance at 616, 626, and 640 December. Trends in Kansas City are mixed. Support is at 726, 709, and 704 November, with resistance at 755, 772, and 789 December. Trends in Minneapolis are mixed. Support is at 770, 760, and 756 December, and resistance is at 793, 810, and 820 December.
COT — Supplemental Report – Option and Futures Combined Positions as of September 12, 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 469,203
: Positions :
: 49,772 135,961 155,823 89,832 86,748 130,222 52,552 425,650 431,084: 43,553 38,119
: Changes from: September 5, 2023 (Change in open interest: 22,571) :
: 850 6,742 12,131 7,403 -3,788 -292 6,117 20,092 21,202: 2,480 1,369
: Percent of Open Interest Represented by Each Category of Trader :
: 10.6 29.0 33.2 19.1 18.5 27.8 11.2 90.7 91.9: 9.3 8.1
: Total Traders: 406 Number of Traders in Each Category :
: 111 106 120 111 95 46 32 328 300:
——————————————————————————————————————-
COT — Supplemental Report – Option and Futures Combined Positions as of September 12, 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 214,115
: Positions :
: 31,430 54,572 56,592 39,918 62,087 66,878 18,738 194,819 191,988: 19,296 22,126
: Changes from: September 5, 2023 (Change in open interest: 4,675) :
: -186 1,403 1,564 301 1,606 3,748 -175 5,426 4,398: -751 277
: Percent of Open Interest Represented by Each Category of Trader :
: 14.7 25.5 26.4 18.6 29.0 31.2 8.8 91.0 89.7: 9.0 10.3
: Total Traders: 226 Number of Traders in Each Category :
: 46 50 59 58 76 37 16 171 178:
——————————————————————————————————————-
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 12, 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 63,638 :
: Positions :
: 38,428 28,021 1,173 462 123 4,445 17,806 3,906 2,868 884 2,259 :
: Changes from: September 5, 2023 :
: 385 276 431 -43 42 391 2,339 38 -246 -130 -186 :
: Percent of Open Interest Represented by Each Category of Trader :
: 60.4 44.0 1.8 0.7 0.2 7.0 28.0 6.1 4.5 1.4 3.5 :
: Number of Traders in Each Category Total Traders: 111 :
: 52 42 . . . 10 19 12 10 . 6 :
—————————————————————————————————————-
RICE:
General Comments: Rice closed higher last week in response to a week of solid export sales and in recovery trading from the lows seen after the release of the USDA crop reports on Tuesday. USDA increased production and also carry in stocks for the coming marketing year and ending stocks were increased as there was not enough new demand shown to absorb the significant supply increase. Trends are up on the daily charts. Yields are called average to below average in Texas and average so far in Arkansas. The quality has been uneven with some crops affected by the extreme heat in southern areas that has hurt field yields in some areas. Some fields are getting abandoned due to extreme heat affecting the production in a very negative way. India will not allow Rice exports except for Basmati for now because not enough rain in some production areas. Northern areas are too wet and southern areas are too dry. It instituted a new 20% tax on White Rice exports.
Overnight News: The Delta should get isolated showers, mostly near the Gulf coast. Temperatures should be above normal.
Chart Analysis: Trends are up with objectives of 1720 and 1630 November. Support is at 1598, 1584, and 1573 November and resistance is at 1640, 1638, and 1687 November.
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 12, 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 12,451 :
: Positions :
: 5,084 10,070 115 0 0 2,782 294 12 1,333 422 921 :
: Changes from: September 5, 2023 :
: 1,013 -761 3 0 0 -694 -63 -12 -559 115 455 :
: Percent of Open Interest Represented by Each Category of Trader :
: 40.8 80.9 0.9 0.0 0.0 22.3 2.4 0.1 10.7 3.4 7.4 :
: Number of Traders in Each Category Total Traders: 61 :
: 18 17 . 0 0 15 . . 12 . 7 :
—————————————————————————————————————-
CORN AND OATS
General Comments: Corn was a little higher last week in lifeless trading and Oats were lower in response to the StatsCan production estimates. Ideas that USDA could reduce Corn yields further in coming reports and therefore cut production and ending stocks estimates. The selling earlier in the week had been in response to the USDA reports that showed greater than expected production. Yields were cut but the planted and harvested area was increased by 800,000acres to cause the production increase. It seems possible that yields will be cut more in coming reports. Expectations are for stressful weather to continue Weather forecasts remain mostly dry but with moderate temperatures for the Midwest for the next week. The crops will need rain to maintain the condition due to the lack of soil moisture from three months of drought that ended at the end of June but the crops are not expected to see much rain if any rain at all. The harvest is coming so moisture needs are less, and many producers report that Corn is shutting down early and that the harvest could start sooner than normal. 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:
Chart Analysis: Trends in Corn are mixed. Support is at 474, 471, and 468 December, and resistance is at 507, 517, and 523 December. Trends in Oats are down with objectives of 468 and 456 December. Support is at 473, 465, and 456 December, and resistance is at 493, 503, and 510 December.
COT — Supplemental Report – Option and Futures Combined Positions as of September 12, 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 1,665,919
: Positions :
: 121,824 307,877 463,578 537,634 573,805 365,532 106,431 1,488,568 1,451,692: 177,351 214,228
: Changes from: September 5, 2023 (Change in open interest: 61,341) :
: -13,428 30,401 36,392 29,669 -12,498 2,195 1,973 54,827 56,268: 6,514 5,073
: Percent of Open Interest Represented by Each Category of Trader :
: 7.3 18.5 27.8 32.3 34.4 21.9 6.4 89.4 87.1: 10.6 12.9
] : Total Traders: 763 Number of Traders in Each Category :
: 123 150 198 355 337 53 37 648 623:
——————————————————————————————————————-
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 12, 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 4,765 :
: Positions :
: 952 3,265 123 0 0 1,066 0 0 385 0 152 :
: Changes from: September 5, 2023 :
: 232 434 1 0 0 163 0 0 -67 -66 7 :
: Percent of Open Interest Represented by Each Category of Trader :
: 20.0 68.5 2.6 0.0 0.0 22.4 0.0 0.0 8.1 0.0 3.2 :
: Number of Traders in Each Category Total Traders: 25 :
: 7 9 . 0 0 7 0 0 4 . . :
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SOYBEANS
General Comments: Soybeans and Soybean Meal were a little lower last week on ideas of weaker demand. Soybean Oil was higher on a lower than expected monthly crush rate and reduced supplies of Soybean Oil to the market qt a time when demand for the feedstocks for biofuels remains high. NOPA estimated the crush by its members at 161.453 million bushels and Soybean Oil stocks at 1.250 billion pounds.. USDA cut yield estimates in line with trade expectations but increased planted and harvested acreage by 100,000 acres to keep production estimates higher than the trade had expected. Highly variable conditions were noted especially in western areas. Weather forecasts call for warm and dry conditions for the Midwest. 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 and severe damage is becoming possible in some areas. 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.
Overnight News: China bought 123,000 tons of US Soybeans.
Chart Analysis: Trends in Soybeans are mixed to down with objectives of 1330 and 1298 November. Support is at 1334, 1324, and 1303 November, and resistance is at 1368, 1385, and 1395 November. Trends in Soybean Meal are mixed to down with objectives of 388.00 and 370.00 October. Support is at 393.00, 389.00, and 387.00 October, and resistance is at 403.00, 410.00, and 413.00 October. Trends in Soybean Oil are mixed. Support is at 6220, 6150, and 6000 October, with resistance at 6400, 6480, and 6700 October.
COT — Supplemental Report – Option and Futures Combined Positions as of September 12, 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 905,855
: Positions :
: 102,491 61,794 257,441 299,332 470,225 189,160 39,967 848,424 829,428: 57,431 76,427
: Changes from: September 5, 2023 (Change in open interest: 30,823) :
: -1,985 4,166 24,090 6,408 54 1,440 3,226 29,953 31,536: 870 -712
: Percent of Open Interest Represented by Each Category of Trader :
: 11.3 6.8 28.4 33.0 51.9 20.9 4.4 93.7 91.6: 6.3 8.4
: Total Traders: 602 Number of Traders in Each Category :
: 138 123 190 195 240 54 31 478 507:
——————————————————————————————————————-
COT — Supplemental Report – Option and Futures Combined Positions as of September 12, 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 522,284
: Positions :
: 57,228 48,876 128,846 162,772 293,099 139,881 28,252 488,727 499,073: 33,558 23,211
: Changes from: September 5, 2023 (Change in open interest: 10,031) :
: -5,924 555 14,580 5,682 -2,510 -2,368 -615 11,970 12,011: -1,939 -1,979
: Percent of Open Interest Represented by Each Category of Trader :
: 11.0 9.4 24.7 31.2 56.1 26.8 5.4 93.6 95.6: 6.4 4.4
: Total Traders: 292 Number of Traders in Each Category :
: 62 57 85 81 95 45 21 240 219:
——————————————————————————————————————-
COT — Supplemental Report – Option and Futures Combined Positions as of September 12, 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 500,943
: Positions :
: 60,522 20,857 137,495 125,536 307,536 128,257 8,331 451,810 474,218: 49,133 26,725
: Changes from: September 5, 2023 (Change in open interest: 6,424) :
: -1,400 3,301 -5,863 11,364 9,369 2,931 291 7,033 7,099: -608 -674
: Percent of Open Interest Represented by Each Category of Trader :
: 12.1 4.2 27.4 25.1 61.4 25.6 1.7 90.2 94.7: 9.8 5.3
: Total Traders: 285 Number of Traders in Each Category :
: 71 38 81 99 102 42 14 247 213:
——————————————————————————————————————-
CANOLA AND PALM OIL
General Comments: Palm Oil was near unchanged as negative fundamentals now went against price strength in outside markets. It was lower today on ideas of increasing supplies available to the market. Support also came from ideas of less production in coming months due to adverse growing conditions caused by El Nini. MPOB estimated production for Augus at 1.703 million tons, up 8.91%, and exports at 1.223 million tons, down 9.78%. Ending stocks were estimated at 2.124 million tons, up 22.54% from July. AmSpec estimated September 1-15 exports at 574,936 tons, from 633,685 tons in August. Both sets of data were bearish for prices, but bullish traders still think that El Nino will cause big production problems down the road and are holding out hopes for rallies in the future.. Canola was lower last week in response to the StatsCan production estimates that showed higher than expected production for the year. Drier weather is generally forecast for the Prairies and the crop has been stressed, but some rain is falling now.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 744.00, 739.00, and 723.00 November, with resistance at 776.00, 790.00, and 802.00 November. Trends in Palm Oil are mixed. Support is at 3780, 3750, and 3720 December, with resistance at 3910, 3940, and 5020 December.
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 12, 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 44,873 :
: Positions :
: 36,611 24,523 2,240 5,690 240 40 980 0 812 8,510 4,930 :
: Changes from: September 5, 2023 :
: 1,040 198 60 40 0 -40 120 0 218 920 1,700 :
: Percent of Open Interest Represented by Each Category of Trader :
: 81.6 54.6 5.0 12.7 0.5 0.1 2.2 0.0 1.8 19.0 11.0 :
: Number of Traders in Each Category Total Traders: 28 :
: 8 8 . . . . . 0 5 5 5 :
—————————————————————————————————————-
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 12, 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 302,573 :
: Positions :
: 211,564 202,490 5,857 6,281 2,623 39,625 36,600 26,923 3,114 14,503 11,235 :
: Changes from: September 5, 2023 :
: 13,090 -2,557 1,185 -2,925 1,619 -9,514 6,490 3,088 -2,318 724 367 :
: Percent of Open Interest Represented by Each Category of Trader :
: 69.9 66.9 1.9 2.1 0.9 13.1 12.1 8.9 1.0 4.8 3.7 :
: Number of Traders in Each Category Total Traders: 341 :
: 50 80 5 5 4 48 41 24 42 98 59 :
—————————————————————————————————————-
Error! Hyperlink reference not valid.Midwest Weather Forecast Mostly dry, but a few showers near the Great Lakes. Temperatures should average below normal.
US Gulf Cash Basis
Corn
HRW
SRW
Soybeans
Soybean Meal
Soybean Oil
September
125 Dec
130 Sep
85 Sep
120 Nov
October
125 Dec
130 Dec
85 Dec
120 Nov
November
112 Dec
140 Dec
100 Dec
100 Nov
DJ Malaysian PM Cash Market Prices for Palm Oil – Sept 18
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 pworts
Offer Change Bid Change Traded
Sep 827.50 -10.00 Unquoted – –
Oct 827.50 -10.00 Unquoted – –
Nov/Dec 840.00 -12.50 Unquoted – –
Jan/Feb/Mar 860.00 -12.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Sep 835.00 -10.00 Unquoted – –
Oct 835.00 -10.00 Unquoted – –
Nov/Dec 847.50 -12.50 Unquoted – –
Jan/Feb/Mar 867.50 -12.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Sep 775.00 -15.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Sep 770.00 -15.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sep 3720.00 -30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Trded
Sep 238.00 -02.00 Unquoted – –
($1=MYR4.69)
DJ China Dalian Grain Futures Closing Prices, Volume – Sep 18
Soybean No. 1
Turnover: 152,395 lots, or .77 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-23 5,087 5,111 5,057 5,105 5,125 5,084 -41 114,787 120,563
Jan-24 5,093 5,095 5,051 5,093 5,109 5,074 -35 24,581 61,777
Mar-24 5,039 5,050 5,009 5,049 5,063 5,032 -31 11,749 9,015
May-24 5,051 5,061 5,022 5,059 5,073 5,043 -30 989 6,344
Jul-24 5,015 5,017 4,985 5,015 5,032 5,007 -25 254 1,050
Sep-24 5,012 5,012 4,971 4,992 5,013 4,988 -25 35 49
Corn
Turnover: 751,717 lots, or 19.83 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-23 2,692 2,693 2,641 2,646 2,679 2,661 -18 493,363 496,288
Jan-24 2,614 2,617 2,582 2,585 2,609 2,596 -13 142,891 451,384
Mar-24 2,600 2,602 2,572 2,575 2,595 2,584 -11 57,730 162,862
May-24 2,617 2,617 2,588 2,592 2,611 2,598 -13 24,786 127,622
Jul-24 2,609 2,612 2,585 2,587 2,607 2,594 -13 32,425 71,401
Sep-24 2,610 2,614 2,588 2,591 2,608 2,597 -11 522 885
Soymeal
Turnover: 1,598,181 lots, or 6.31 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-23 4,495 4,547 4,468 4,497 4,465 4,506 41 151,677 313,221
Dec-23 4,200 4,237 4,174 4,197 4,190 4,206 16 23,591 61,579
Jan-24 4,040 4,066 4,008 4,029 4,026 4,036 10 1,063,260 1,730,240
Mar-24 3,717 3,743 3,689 3,708 3,721 3,716 -5 12,416 65,582
May-24 3,417 3,436 3,401 3,420 3,414 3,418 4 194,144 624,587
Jul-24 3,380 3,396 3,364 3,387 3,366 3,378 12 55,765 460,665
Aug-24 3,410 3,455 3,405 3,453 3,396 3,429 33 56,645 69,726
Sep-24 3,408 3,446 3,405 3,442 3,393 3,425 32 40,683 43,837
Palm Oil
Turnover: 956,882 lots, or 70.56 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Oct-23 7,380 7,380 7,214 7,296 7,424 7,288 -136 6,449 5,922
Nov-23 7,390 7,408 7,238 7,312 7,456 7,304 -152 18,535 50,276
Dec-23 7,430 7,430 7,280 7,358 7,490 7,346 -144 5,364 34,857
Jan-24 7,468 7,468 7,296 7,382 7,506 7,368 -138 845,369 512,062
Feb-24 7,490 7,490 7,324 7,406 7,516 7,396 -120 5,222 20,402
Mar-24 7,460 7,484 7,360 7,442 7,526 7,422 -104 3,590 16,727
Apr-24 7,494 7,500 7,376 7,464 7,534 7,444 -90 4,660 3,670
May-24 7,520 7,520 7,394 7,476 7,536 7,462 -74 66,967 87,009
Jun-24 7,474 7,496 7,394 7,468 7,504 7,460 -44 197 760
Jul-24 7,476 7,478 7,384 7,448 7,500 7,440 -60 214 800
Aug-24 7,468 7,468 7,366 7,420 7,482 7,422 -60 123 1,158
Sep-24 7,398 7,410 7,300 7,376 7,448 7,368 -80 192 175
Soybean Oil
Turnover: 1,012,291 lots, or 82.91 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-23 8,502 8,502 8,366 8,414 8,536 8,420 -116 26,352 96,055
Dec-23 8,396 8,408 8,288 8,334 8,442 8,330 -112 2,109 33,291
Jan-24 8,286 8,288 8,164 8,216 8,328 8,214 -114 893,870 604,599
Mar-24 8,116 8,116 8,000 8,054 8,120 8,048 -72 2,098 30,508
May-24 7,900 7,924 7,816 7,866 7,920 7,868 -52 77,374 101,322
Jul-24 7,800 7,810 7,720 7,776 7,822 7,770 -52 7,450 114,439
Aug-24 7,794 7,816 7,728 7,788 7,830 7,772 -58 2,636 22,077
Sep-24 7,792 7,792 7,706 7,762 7,792 7,752 -40 402 397
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