Grains Report 09/04/2024

DJ U.S. July Grain Exports-Sep 4
In kilograms (top) and in bushels (bottom), except flour in cwt and malt
in pounds. /1 denotes includes commercial and donated. Source: U.S. Department
of Commerce.
(*)NOTE: Year ago figures reflect data reported at that time.
Data includes Exports and Re-Exports.
——- In Kilograms ——-
Jul 24 Jun 24 May 24 Jul 23
Barley 2,320,000 2,909,000 1,705,110 1,018,000
Corn /1 5,259,807,000 5,496,214,000 5,967,193,000 2,398,174,000
Sorghum 410,112,000 189,015,000 459,758,000 422,354,000
Oats 1,551,339 2,615,037 1,907,498 2,840,222
Rye 463,869 1,090,920 1,381,980 1,697,806
Wheat /1 1,959,541,223 1,486,302,189 1,590,663,327 1,739,893,288
wheat flour /1 18,518,229 19,598,862 19,197,733 12,063,265
Malt 31,998,234 24,091,174 34,741,166 29,754,799
——- In Bushels, CWT or Pounds ——-
Jul 24 Jun 24 May 24 Jul 23
Barley 106,556 133,608 78,314 46,756
Corn /1 207,067,330 216,374,167 234,915,601 94,410,971
Sorghum 16,145,231 7,441,115 18,099,687 16,627,172
Oats 106,878 180,160 131,415 195,674
Rye 18,262 42,947 54,406 66,839
Wheat /1 72,000,076 54,611,696 58,446,272 63,929,478
wheat flour /1 408,257 432,081 423,238 265,950
Malt 70,544,043 53,111,956 76,591,174 65,598,114
1/Includes commercial and donated.

DJ U.S. July Oilseed, Meal, Oils/Fats Exports-Sep 4
In kilograms (top). Oils in pounds, soybeans in bushels, meal and hulls in
short tons (bottom). Source: U.S. Department of Commerce.
(*)NOTE: Year ago figures reflect data reported at that time.
Data includes Exports and Re-Exports.
——- In Kilograms ——-
Jul 24 Jun 24 May 24 Jul 23
soybeans 1,495,833,198 1,339,005,185 1,410,162,156 1,275,868,253
soyoil 44,168,425 52,363,524 42,708,982 16,970,153
crude 29,070,304 37,461,374 28,517,997 10,551,958
refined 81,245 59,688 144,664 203,842
other/1 14,839,818 14,684,671 13,901,817 6,053,496
hydrogenated 177,058 157,791 144,504 160,857
cottonseed oil 554,627 880,215 1,151,252 510,387
crude 0 25,267 47,375 0
refined 404,795 769,845 600,816 320,005
other/1 149,212 85,103 86,568 106,596
hydrogenated 620 0 416,493 83,786
sunseeds 18,638 260,425 37,657 2,686,971
sunseed oil 3,646,828 2,294,826 2,215,802 4,797,054
rapeseed 12,817,565 6,540,970 6,088,908 10,330,281
rapeseed oil 3,340,477 4,413,174 2,857,580 7,346,097
crude 184,657 317,515 444,399 3,275,894
refined 3,155,820 4,095,659 2,413,181 4,070,203
linseed meal 205,619 408,766 264,016 322,163
cottonseed meal 2,971,072 1,059,436 6,504,802 2,535,595
soymeal 768,430,709 826,383,506 685,478,731 953,621,545
soymeal/flour 236,813,134 262,669,924 299,254,998 120,051,356
soymeal hulls 12,355,000 30,135,000 25,739,000 9,699,000
lard 680,875 1,095,805 4,723,544 1,048,184
edible tallow 4,369,464 3,425,101 3,825,384 1,952,943
inedible tallow 14,029,641 23,981,407 13,931,479 7,285,463
ch white grease 65,148 0 68,876 49,762
——- In Bushels, Pounds or Short Tons ——-
Jul 24 Jun 24 May 24 Jul 23
soybeans 54,961,897 49,199,513 51,814,058 46,879,652
soyoil 97,374,726 115,441,829 94,157,204 37,412,790
crude 64,089,061 82,588,207 62,871,432 23,263,089
refined 179,115 131,590 318,930 449,395
other/1 32,716,204 32,374,163 30,648,265 13,345,677
hydrogenated 390,346 347,870 318,577 354,629
cottonseed oil 1,222,743 1,940,542 2,538,077 1,125,211
crude 0 55,704 104,444 0
refined 892,420 1,697,218 1,324,573 705,490
other/1 328,956 187,620 190,850 235,004
hydrogenated 1,367 0 918,210 184,717
sunseeds 41,090 574,139 83,019 5,923,758
sunseed oil 8,039,881 5,059,226 4,885,008 10,575,696
rapeseed 28,257,899 14,420,373 13,423,747 22,774,375
rapeseed oil 7,364,492 9,729,385 6,299,887 16,195,374
crude 407,099 700,001 979,732 7,222,111
refined 6,957,393 9,029,384 5,320,154 8,973,263
linseed meal 227 451 291 355
cottonseed meal 3,275 1,168 7,170 2,795
soymeal 847,041 910,923 755,603 1,051,177
soymeal flour/me 261,039 289,541 329,869 132,333
soymeal hulls 13,619 33,218 28,372 10,691
lard 1,501,073 2,415,837 10,413,634 2,310,851
edible tallow 9,633,021 7,551,056 8,433,530 4,305,503
inedible tallow 30,930,069 52,869,961 30,713,659 16,061,699
ch white grease 143,627 0 151,846 109,706

DJ U.S. July Grain Imports-Sep
In kilograms, from the U.S. Commerce Department, converted to
pounds by Dow Jones.
—-Jul 2024—- —-Jun 2024—-
kilograms pounds kilograms pounds
durum wheat 13,422 29,596 297,375 655,712
spring wheat 32,999,986 72,764,969 17,756,435 39,152,939
winter wheat 0 0 0 0
wheat/meslin 0 0 0 0
TOTAL WHEAT 33,013,408 72,794,565 18,053,810 39,808,651
barley 12,036,304 26,540,050 1,312,327 2,893,681
oats 544,237 1,200,043 367,514 810,368
corn 38,202,201 84,235,853 24,431,494 53,871,444
other corn 6,846,926 15,097,472 16,229,868 35,786,859
TOTAL CORN 45,049,127 99,333,325 40,661,362 89,658,303

DJ U.S. Jul Soymeal, Vegetable Oils/Oilseed Imports-Sep 4
In kilograms from the U.S. Commerce Department, converted to pounds
by Dow Jones.
—-Jul 2024—- —-Jun 2024—-
kilograms pounds kilograms pounds
coconut oil 49,548,604 109,254,672 39,789,078 87,734,917
palm kernel oil 19,467,816 42,926,534 42,449,299 93,600,704
palm oil 138,648,524 305,719,995 152,398,852 336,039,469
soybean 40,941,939 90,276,975 17,698,452 39,025,087
soymeal 0 0 0 0
soyoil 33,080,381 72,942,240 45,978,730 101,383,100
rapeseed oil
edible 314,582,999 693,655,513 225,370,689 496,942,369
rapeseed oil,
inedible 27,926 61,577 67,363 148,535

DJ CBOT Delivery Intentions: Totals – Sep 4
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL September Sep 05, 2024 100 Jul 25, 2024
CORN September Sep 05, 2024 81 Aug 26, 2024
OATS September Sep 05, 2024 4 Sep 03, 2024
SOYBEAN September Sep 05, 2024 226 Aug 06, 2024

DJ USDA Grain Inspections for Export in Metric Tons – Sep 3
WA_GR101
Washington, DC Mon Sep 3, 2024 USDA Market News
COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.
INFORMATION CONTAINED IN THIS REPORT REFLECTS EXPORTED GRAIN INSPECTED AND WEIGHED
THROUGH THE AUTHORITY UNDER THE U.S. GRAIN STANDARDS ACT. NO ADDITIONAL ANALYSIS,
COMPILATIONS OR DATA IS AVAILABLE
GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT
REPORTED IN WEEK ENDING AUG 29, 2024
— METRIC TONS —
————————————————————————-
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 08/29/2024 08/22/2024 08/31/2023 TO DATE TO DATE
BARLEY 0 122 0 4,480 399
CORN 965,292 917,602 482,789 52,033,650 37,264,340
FLAXSEED 0 24 0 192 0
MIXED 0 0 0 596 0
OATS 0 0 0 148 3,195
RYE 0 0 0 0 0
SORGHUM 121,601 116,771 107,675 6,030,037 2,698,970
SOYBEANS 496,860 419,563 407,865 44,709,005 52,280,745
SUNFLOWER 0 0 672 7,325 7,117
WHEAT 577,944 549,467 318,076 5,736,345 4,348,348
Total 2,161,697 2,003,549 1,317,077 108,521,778 96,603,114
————————————————————————-
CROP MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND
FLAXSEED; SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.
INCLUDES WATERWAY SHIPMENTS TO CANADA

This Week Last Week Last Year Average
Cotton Bolls Opening 37 25 30 31
Corn Dough 90 84 92 90
Corn Dented 60 46 62 58
Corn Mature 19 11 15 13
Soybeans Setting Pods 94 89 94 93
Soybeans Dropping Leaves 13 6 13 10
Sorghum Headed 95 90 92 94
Sorghum Coloring 62 48 57 59
Sorghum Mature 29 23 26 26
Sorghum Harvsted 19 18 18 20
Rice Harvested 43 33 31 24
Oats Harvested 89 79 88 89
Spring Wheat Harvested 70 51 68 70
Barley Harvested 75 47 79 43
Winter Wheat Planted 2 1 2

Very Poor Poor Fair Good Excellent
Cotton This Week 11 12 32 34 6
Cotton Last Week 12 16 32 34 6
Cotton Last Year 19 22 28 26 5

Corn This Week 4 8 23 50 15
Corn Last Week 5 8 22 49 16
Corn Last Year 6 12 29 44 9

Soybeans This Week 3 7 25 52 13
Soybeans Last Week 2 7 24 54 13
Soybeans Last Year 5 12 30 44 9

Sorghum This Week 6 13 31 42 8
Sorghum Last Week 7 13 32 40 8
Sorghum Last Year 10 16 30 36 8

Rice This Week 1 3 19 62 15
Rice Last Week 0 4 17 64 15
Rice Last Year 1 5 24 55 15

Peanuts This Week 1 6 32 54 7
Peanuts Last Week 1 5 30 58 6
Peanuts Last Year 2 8 34 51 5

Pastures and Ranges This Week 16 26 50 23 5
Pastures and Ranges Last Week 15 24 31 25 5
Pastures and Ranges Last Year 16 20 28 29 7

WHEAT
General Comments: Wheat was higher in all three markets yesterday on the wrap up of the Wheat harvest and reports of reduced cash movement here in the US. Cash markets are stable in Europe nd Russia. Ideas of good crops in the US and Canada went against reports of dry weather in eastern Europe and Russia and too wet weather in France and Germany along with Spring Wheat areas of Russia are still heard and the weather there affecting world production estimates. There were more reports of dry conditions coming this week to Russian growing areas although Spring Wheat areas have seen too much rain. Eastern Europe is also hot and dry. Western Europe has seen too much rain.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to up with no objectives. Support is at 544, 532, and 521 December, with resistance at 575, 581, and 603 December. Trends in Kansas City are mixed to up with no objectives. Support is at 556, 539, and 527 December, with resistance at 584, 595, and 607 December. Trends in Minneapolis are mixed. Support is at 575, 563, and 552 December, and resistance is at 612, 618, and 630 December.

RICE
General Comments: Rice closed higher yesterday on apparent relief that the fiscal deliveries are now out of the way. The back months were lower as the trade felt the ongoing harvest. The US weather has been an issue much of the growing season with too much rain early in the year. Some areas are now too hot and dry, especially in Texas, and Texas yields are down as a result as the harvest moves forward. However, planted area has increased from last year
Overnight News:
Chart Analysis: Trends are mixed to down with no objectives. Support is at 1472, 1466, and 1456 November and resistance is at 1504, 1520, and 1532 November

CORN AND OATS
General Comments: Corn and Oats closed higher yesterday on speculative buying as cooler and dry weather was reported and forecast in just about all of the Midwest and is forecast for the week. Producer selling of old crop supplies wrapped up last week before September First Notice Day last Friday and farmers plan to hold new crop supplies. Ideas of very strong yields are still heard and harvest is just a few weeks away. Increased US demand comes from the fact that Corn prices are already the cheapest in the world. Current forecasts call for cooler and drier weather for the Midwest for the next week or longer.
Overnight News:
Chart Analysis: Trends in Corn are mixed to up with no objectives. Support is at 402, 389, and 366 December, and resistance is at 416, 424, and 426 September. Trends in Oats are up with no objectives. Support is at 325, 314, and 305 December, and resistance is at 351, 351, and 361 December

SOYBEANS
General Comments: Soybeans and Soybean Meal were higher yesterday on speculative buying. Soybean Oil was lower on the weakness in Canola values Stronger demand news as Chia bought again were reasons to trade the market. There is also concern about the hot and dry weather seen in the Midwest early last week that could hurt pod fill. The weather is turning cooler now but it should remain dry. Reports indicate that China is buying a lot in the US but overall export demand is behind average. Domestic demand has been strong in the US.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed to up with no objectives. Support is at 973, 961, and 955 November, and resistance is at 1013, 1032, and 1042 November. Trends in Soybean Meal are mixed. Support is at 306.00, 304.00, and 299.00 October, and resistance is at 323.00, 327.00, and 333.00 October. Trends in Soybean Oil are mixed. Support is at 4090, 4020, and 3940 October, with resistance at 4310, 4400, and 4520 October.

PALM OIL AND CANOLA
General Comments: Palm Oil was near unchanged yesterday. Production reports indicate that the increase in production is less than expected at this time. Reports indicate that production is rising as well. Export demand has been very strong in recent private reports but has been weaker in recent days. There is talk of increased supplies available to the market, and the trends are down on the daily charts. Canola was lower and traded limit down for part of the dayas China started to retaliate against Canada for imposing new tariffs on EV from China. China has moved to increase tariffs on Canadian Canola and Canola Oil imports and demand concerns are real as China had been a major buyer of Canola and Oil. The weather has been hot and dry in Canada and it looks like Canola production has been impacted. The weather has called for dry conditions in the Prairies and yields are expected to be the same or less.
Overnight News:
Chart Analysis: Trends in Canola are down with no objectives. Support is at 563.00, 556.00, and 550.00 November, with resistance at 606.00, 621.00, and 629.00 November. Trends in Palm Oil are mixed to up with no objectives. Supp with no objectives. Support is at 3870, 3820, and 3740 November, with resistance at 3950, 4020, and 4090 November.

Midwest Weather Forecast Scattered showers. Temperatures should average near to below normal.

DJ Malaysian PM Cash Market Prices for Palm Oil – Sep 4
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Wednesday, 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 962.50 -02.50 Unquoted – –
Oct/Nov/Dec 932.50 -10.00 Unquoted – –
Jan/Feb/Mar 922.50 -05.00 Unquoted – –
Apr/May/Jun 915.00 -02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Sep 967.50 -02.50 Unquoted – –
Oct/Nov/Dec 937.50 -10.00 Unquoted – –
Jan/Feb/Mar 927.50 -05.00 Unquoted – –
Apr/May/Jun 920.00 -02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Sep 980.00 -10.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Sep 840.00 -05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sep 4,030.00 -20.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sep 336.00 -09.00 Unquoted – –
($1=MYR4.35)

DJ China Dalian Grain Futures Closing Prices, Volume – Sep 04
Soybean No. 1
Turnover: 115,987 lots, or 4.99 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-24 4,438 4,438 4,438 4,438 4,440 4,438 -2 100 4,065
Nov-24 4,348 4,376 4,342 4,355 4,335 4,358 23 5,891 22,491
Jan-25 4,294 4,326 4,282 4,302 4,274 4,303 29 106,068 124,091
Mar-25 4,223 4,248 4,206 4,224 4,201 4,226 25 2,250 14,895
May-25 4,247 4,276 4,235 4,252 4,235 4,253 18 1,309 8,474
Jul-25 4,208 4,224 4,188 4,196 4,192 4,201 9 369 3,374
Corn
Turnover: 784,201 lots, or 17.88 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-24 2,283 2,290 2,278 2,290 2,289 2,283 -6 1,239 8,821
Nov-24 2,275 2,297 2,267 2,289 2,273 2,282 9 541,295 571,963
Jan-25 2,256 2,278 2,253 2,270 2,259 2,265 6 153,012 451,064
Mar-25 2,251 2,269 2,246 2,261 2,252 2,259 7 35,231 153,080
May-25 2,292 2,310 2,284 2,299 2,293 2,299 6 31,283 56,995
Jul-25 2,296 2,316 2,293 2,307 2,299 2,306 7 22,141 34,795
Soymeal
Turnover: 2,517,445 lots, or 75.98 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-24 – – – 3,015 3,015 3,015 0 79 3,415
Nov-24 3,110 3,110 3,053 3,075 3,078 3,074 -4 160,731 417,958
Dec-24 3,109 3,109 3,058 3,066 3,084 3,075 -9 12,831 103,139
Jan-25 3,080 3,081 3,023 3,036 3,061 3,052 -9 1,862,827 1,472,108
Mar-25 2,981 2,981 2,914 2,925 2,960 2,939 -21 14,700 103,166
May-25 2,893 2,894 2,833 2,842 2,870 2,858 -12 395,400 1,017,008
Jul-25 2,908 2,910 2,840 2,849 2,892 2,866 -26 59,860 94,141
Aug-25 3,010 3,010 2,942 2,952 2,987 2,966 -21 11,017 41,388
Palm Oil
Turnover: 1,026,401 lots, or 81.07 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-24 – – – 8,004 8,004 8,004 0 0 613
Oct-24 8,018 8,038 7,882 7,918 8,040 7,950 -90 19,846 13,993
Nov-24 8,018 8,028 7,866 7,912 8,028 7,938 -90 4,437 7,466
Dec-24 8,012 8,014 7,862 7,908 8,004 7,938 -66 352 691
Jan-25 7,972 7,992 7,824 7,874 7,986 7,904 -82 931,542 522,266
Feb-25 7,952 7,960 7,812 7,846 7,974 7,898 -76 76 467
Mar-25 7,946 7,948 7,794 7,846 8,002 7,858 -144 258 3,280
Apr-25 7,880 7,896 7,766 7,800 7,954 7,806 -148 84 262
May-25 7,884 7,898 7,706 7,744 7,900 7,804 -96 69,721 108,329
Jun-25 7,846 7,846 7,664 7,694 7,856 7,744 -112 41 112
Jul-25 7,794 7,794 7,610 7,610 7,804 7,714 -90 40 145
Aug-25 7,688 7,688 7,656 7,674 7,712 7,676 -36 4 24
Soybean Oil
Turnover: 696,398 lots, or 53.61 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-24 – – – 7,766 7,766 7,766 0 97 4,119
Nov-24 7,766 7,786 7,664 7,692 7,758 7,718 -40 19,861 26,787
Dec-24 7,792 7,806 7,676 7,702 7,796 7,744 -52 1,179 4,101
Jan-25 7,780 7,794 7,656 7,682 7,752 7,730 -22 588,300 609,283
Mar-25 7,676 7,714 7,558 7,594 7,686 7,618 -68 1,349 4,465
May-25 7,550 7,566 7,366 7,410 7,548 7,466 -82 85,218 194,775
Jul-25 7,430 7,430 7,274 7,324 7,458 7,348 -110 307 730
Aug-25 7,392 7,412 7,316 7,334 7,464 7,356 -108 87 145
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