Grains Report 11/11/2024

DJ USDA Report: Summary for U.S. Agriculture Supply, Demand Report
Following are key numbers from the USDA’s crop report and how the government’s estimates compared to analysts’ forecasts in a Wall Street Journal survey.
U.S. 2024 Corn, Soybean Production (million bushels)
Friday’s Average USDA
USDA Est. Forecast Range Oct.
Corn Production 15,143.0 15,179 15,006-15,300 15,203
Corn Yield 183.1 183.7 182.5-185.0 183.8
Harvested Acres 82.7 82.6 82.0-82.8 82.7
Soybean Production 4,461.0 4,553 4,488-4,640 4,582
Soybean Yield 51.7 52.8 52.0-53.8 53.1
Harvested Acres 86.3 86.2 85.8-86.3 86.3
****
U.S. 2024-25 Stockpiles (millions)
Friday’s Average USDA
USDA Est. Forecast Range Oct.
Corn 1,938.0 1,921 1,801-2,071 1,999
Soybeans 470.0 535 480-602 550
Wheat 815.0 812 800-830 812
****
World Stockpiles (million metric tons)
2023-24
Friday’s Average USDA
USDA Est. Forecast Range Oct.
Corn 314.2 312.5 312.0-313.0 312.7
Soybeans 112.4 112.3 112.0-112.6 112.4
Wheat 266.3 266.2 266.0-266.4 266.2
2024-25
Friday’s Average USDA
USDA Est. Forecast Range Oct.
Corn 304.1 305.9 304.0-308.5 306.5
Soybeans 131.7 134.0 131.5-135.0 134.7
Wheat 257.6 256.8 255.4-258.0 257.7

DJ USDA Supply/Demand: Crop Summary – Nov 8
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
24/25 23/24 22/23: 24/25 23/24 22/23: 24/25 23/24 22/23
Soybeans 470.0 342.0 264.0:181.71 177.04 171.75:425.40 394.73 378.60
Brazil na na na:105.50 104.17 95.50:169.00 153.00 162.00
Argentina na na na: 4.50 5.11 4.19: 51.00 48.21 25.00
China na na na: 0.10 0.07 0.09: 20.70 20.84 20.28
Soyoil 1,536 1,501 1,607: 12.10 11.87 11.71: 65.49 62.78 59.61
Corn 1,938 1,760 1,360:189.83 195.65 180.34: 1,219 1,229 1,163
China na na na: 0.02 0.00 0.01:292.00 288.84 277.20
Argentina na na na: 36.00 33.00 25.24: 51.00 50.00 37.00
S.Africa na na na: 2.80 2.00 3.44: 17.00 13.40 17.10
Cotton(a) 4.30 3.15 4.65: 42.18 44.61 36.65:116.18 113.03 116.18
All Wheat 815 696 570:214.67 221.31 221.75:794.73 790.42 789.56
China na na na: 1.00 1.04 0.95:140.00 136.59 137.72
European
Union na na na: 30.00 37.87 35.08:122.60 134.94 134.29
Canada na na na: 26.00 25.38 25.62: 35.00 32.95 34.81
Argentina na na na: 11.50 8.20 3.66: 17.50 15.85 12.55
Australia na na na: 25.00 20.00 31.82: 32.00 25.96 40.55
Russia na na na: 48.00 55.50 49.00: 81.50 91.50 92.00
Ukraine na na na: 16.00 18.58 17.12: 22.90 23.00 21.50
Sorghum 31.0 31.0 24.0: na na na: na na na
Barley 69.0 78.0 66.0: na na na: na na na
Oats 35.0 36.0 35.0: na na na: na na na
Rice 46.7 39.4 30.3: 56.92 54.85 54.80:533.81 522.18 516.69

WHEAT
General Comments: The markets were a little lower last week in Kansas City and Minneapolis, but a little higher in Chicago SRW. The USDA supply and demand reports released Friday did little to help Wheat prices as domestic and world ending stocks levels were a little above trade expectations at 815 million bushels in the US and 257.6 million tons for the world. US supply data was not touched. Reports of very beneficial rains for the Great Plains and Midwest and reports of weaker offers in Russia were also negative for prices. The rains are falling and will allow Wheat farmers in the US to plant the Winter crops. Cash markets in Russia were lower as production estimates remain lower and two regions have been declared a farming emergency due to the hot and dry weather.
Overnight News:
Chart Analysis: Trends in Chicago are mixed. Support is at 562, 556, and 548 December, with resistance at 580, 589, and 595 December. Trends in Kansas City are mixed. Support is at 560, 556, and 549 December, with resistance at 583, 593, and 603 December. Trends in Minneapolis are mixed. Support is at 595, 586, and 580 December, and resistance is at 617, 624, and 632 December.

COT — Supplemental Report – Option and Futures Combined Positions as of November 05, 2024
: 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 514,659
: Positions :
: 43,547 109,933 175,342 103,796 109,669 157,520 78,643 480,206 473,588: 34,453 41,071
: Changes from: October 29, 2024 (Change in open interest: 30,163) :
: -46 -2,056 20,000 2,173 3,644 6,484 8,227 28,611 29,815: 1,552 347
: Percent of Open Interest Represented by Each Category of Trader :
: 8.5 21.4 34.1 20.2 21.3 30.6 15.3 93.3 92.0: 6.7 8.0
: Total Traders: 378 Number of Traders in Each Category :
: 84 105 132 104 110 47 32 315 312:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of November 05, 2024
: 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 285,127
: Positions :
: 26,892 53,448 76,779 62,340 93,046 99,757 37,896 265,768 261,170: 19,359 23,957
: Changes from: October 29, 2024 (Change in open interest: 5,572) :
: 147 3,268 6,217 -2,372 -4,576 2,384 97 6,375 5,006: -803 566
: Percent of Open Interest Represented by Each Category of Trader :
: 9.4 18.7 26.9 21.9 32.6 35.0 13.3 93.2 91.6: 6.8 8.4
: 53 57 66 78 74 38 22 205 188:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of November 5, 2024
: 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 78,214 :
: Positions :
: 34,818 21,593 3,931 327 171 9,204 26,312 9,869 3,061 2,496 4,113 :
: Changes from: October 29, 2024 :
: -3,093 -2,780 -52 -52 47 1,423 2,550 400 502 -1,394 -980 :
: Percent of Open Interest Represented by Each Category of Trader :
: 44.5 27.6 5.0 0.4 0.2 11.8 33.6 12.6 3.9 3.2 5.3 :
: Number of Traders in Each Category Total Traders: 116 :
: 54 38 6 . . 9 24 14 10 8 12 :
—————————————————————————————————————-

RICE:
General Comments: Rice closed lower last week and trends are down on the charts. The US Dollar was lower, and this did not help demand ideas. USA Rice said that Iraq bought 44,000 tons of milled Long Grain Rice last week, but the news had little effect on prices. USDA made no changes in its supply and demand reports to the Rice supply side. USDA cut 2 million cwt from export demand, with 3 million reduced from Long Grain demand but 1 million added to short and medium grain. All Rice ending stocks were increased by 1 million cwt to 46.7e million, and Long Grain was up 2 million to 29.1 million cwt. Lower Asian prices are still reported. Brazil prices remain strong and well above US prices. The US weather has been an issue much of the growing season with too much rain early in the year. The harvest is over for most US producers and yield reports have had a wide range from poor to good.
Overnight News:
Chart Analysis: Trends are down. Support is at 1429, 1416, and 1404 January and resistance is at 1465, 1474, and 1492 January.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of November 5, 2024
: 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 11,620 :
: Positions :
: 7,207 5,099 76 218 0 373 3,510 0 1,731 626 493 :
: Changes from: October 29, 2024 :
: 1,469 -1,038 -10 0 0 -89 1,686 0 -35 560 195 :
: Percent of Open Interest Represented by Each Category of Trader :
: 62.0 43.9 0.7 1.9 0.0 3.2 30.2 0.0 14.9 5.4 4.2 :
: Number of Traders in Each Category Total Traders: 63 :
: 24 13 . . 0 . 14 0 12 5 5 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn closed a little higher last week as the US harvest wraps up and as demand remains strong. The export demand in recent weeks has been very strong. Oats were lower. USDA cut Corn production in izts WASDE reports on Friday, but left demand untouched. Demand was no increased as the trade had expected, so ending stocks ended above trade expectations at 1.938 billion bushels for the US and 314.2 million tons for the world. The harvest is winding down but is still active and yield reports in general have been strong. It has been very dry in the Midwest to promote the very active harvest progress and this week looks to be dry after some wet weather was seen last week. The harvest will be complete in two weeks or less. Corn is being harvested with dry grain. The Corn is often well below 12% moisture level and this could cost some yield at the end of the day. Crop conditions in southern Brazil and Argentina with reports of ample moisture in southern Brazil and report of improving moisture levels in Argentina.
Overnight News:
Chart Analysis: Trends in Corn are up. Support is at 424, 420, and 414 December, and resistance is at 435, 440, and 443 September. Trends in Oats are down. Support is at 357, 348, and 341 December, and resistance is at 370, 374, and 380 December.

COT — Supplemental Report – Option and Futures Combined Positions as of November 05, 2024
: 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 2,145,748
: Positions :
: 218,027 241,705 645,783 654,219 864,134 440,825 156,732 1,958,854 1,908,355: 186,893 237,393
: Changes from: October 29, 2024 (Change in open interest: 13,912) :
: 23,859 6,085 -4,844 -18,299 6,496 5,632 8,316 6,348 16,053: 7,564 -2,141
: Percent of Open Interest Represented by Each Category of Trader :
: 10.2 11.3 30.1 30.5 40.3 20.5 7.3 91.3 88.9: 8.7 11.1
: Total Traders: 863 Number of Traders in Each Category :
: 160 150 216 395 413 51 32 715 719:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of November 5, 2024
: 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 4,497 :
: Positions :
: 739 3,068 189 250 0 885 0 0 887 0 82 :
: Changes from: October 29, 2024 :
: 45 799 -9 0 0 99 -136 0 230 -237 -81 :
: Percent of Open Interest Represented by Each Category of Trader :
: 16.4 68.2 4.2 5.6 0.0 19.7 0.0 0.0 19.7 0.0 1.8 :
: Number of Traders in Each Category Total Traders: 21 :
: 6 7 . . 0 4 0 0 7 0 . :
—————————————————————————————————————-

SOYBEANS
General Comments: Soybeans were sharply higher as the market initially reacted the release of the USDA reports, butz could not hold the best gains of the day and closed moderately higher. USDA cut yields and production estimates more than expected, but also cut demand. Even so, the ending stocks estimate was cut to 470 million bushels. That is still a lot of Soybeans to carry forward, but much less than the trade had expected. That amount was 535 million bushels. Soybean Meal was slightly higher and Soybean Oil was higher as the US government issued some guidelines for bio fuels production earlier in the week. Brazilian farmers are planting what is expected to be a very big crop in central and northern areas of the country. Warm and dry weather in the Midwest recently has hurt production ideas due to ideas of small and very dry beans in the pods. Farmers have focused on Soybeans harvest but now are almost done and are moving through Corn. Soybeans ae often harvested at moisture levels below 10% this year. Central and northern Brazil rains will continue as it looks like the rainy season is now underway. Soils are in much better shape in southern Brazil and Argentina.
Overnight News:
Analysis: Trends in Soybeans are mixed. Support is at 1018, 1004, and 992 January, and resistance is at 1044, 1060, and 1070 January. Trends in Soybean Meal are mixed. Support is at 293.00, 288.00, and 285.00 December, and resistance is at 303.00, 309.00, and 312.00 December. Trends in Soybean Oil are up. Support is at 4590, 4440, and 4350 December, with resistance at 4990, 5040, and 5100 December.

COT — Supplemental Report – Option and Futures Combined Positions as of November 05, 2024
: 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 1,087,574
: Positions :
: 97,218 174,132 319,342 407,207 421,094 206,205 91,959 1,029,971 1,006,527: 57,603 81,047
: Changes from: October 29, 2024 (Change in open interest: 10,314) :
: 1,909 155 11,755 -11,182 128 11,174 -2,313 13,656 9,725: -3,342 589
: Percent of Open Interest Represented by Each Category of Trader :
: 8.9 16.0 29.4 37.4 38.7 19.0 8.5 94.7 92.5: 5.3 7.5
: Total Traders: 594 Number of Traders in Each Category :
: 106 153 169 222 243 46 22 480 490:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of November 05, 2024
: 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 629,619
: Positions :
: 90,991 77,803 137,822 193,027 348,328 171,829 39,812 593,669 603,765: 35,950 25,854
: Changes from: October 29, 2024 (Change in open interest: 41,543) :
: 10,574 -2,879 17,177 11,461 28,601 -773 -732 38,439 42,166: 3,104 -623
: Percent of Open Interest Represented by Each Category of Trader :
: 14.5 12.4 21.9 30.7 55.3 27.3 6.3 94.3 95.9: 5.7 4.1
: Total Traders: 339 Number of Traders in Each Category :
: 88 70 106 111 97 50 27 301 253:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of November 05, 2024
: 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 669,242
: Positions :
: 79,749 107,970 161,896 214,607 321,092 149,794 42,533 606,047 633,491: 63,195 35,751
: Changes from: October 29, 2024 (Change in open interest: 8,133) :
: -1,998 12,448 -2,523 11,081 -10,402 -976 3,969 5,584 3,492: 2,548 4,641
: Percent of Open Interest Represented by Each Category of Trader :
: 11.9 16.1 24.2 32.1 48.0 22.4 6.4 90.6 94.7: 9.4 5.3
: Total Traders: 342 Number of Traders in Each Category :
: 63 87 97 126 111 42 22 294 264:
——————————————————————————————————————-

PALM OIL AND CANOLA
General Comments: Palm Oil was higher last week on ideas of weaker production caused by too much rain and strength in Chicago Soybean Oil. Futures closed higher today. There are reports of good demand and the private surveyors have indicated that exports have been strong. Canola was higher as support came from Soybean Oil on ideas that the US government has increased demand for biofuels and therefore vegetable oils. The harvest is winding down in Canada and the crops are locked away in the bin. Producers will try to wait for higher prices before selling much.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 651.00, 635.00, and 625.00 January, with resistance at 673.00, 685.00, and 692.00 January. Trends in Palm Oil are up. Support is at 4890, 4780, and 4700 January, with resistance at 5120, 5180, and 5240 January.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of November 5, 2024
: 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 31,664 :
: Positions :
: 26,546 11,942 220 10,534 720 870 1,536 90 418 4,020 2,800 :
: Changes from: October 29, 2024 :
: -3,785 -1,810 0 -1,560 -10 0 -270 -30 40 -105 -460 :
: Percent of Open Interest Represented by Each Category of Trader :
: 83.8 37.7 0.7 33.3 2.3 2.7 4.9 0.3 1.3 12.7 8.8 :
: Number of Traders in Each Category Total Traders: 39 :
: 11 10 . 7 5 . . . . 8 4 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of November 5, 2024
: 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 222,478 :
: Positions :
: 164,790 106,992 4,382 10,825 939 15,182 56,012 17,595 6,826 16,131 11,440 :
: Changes from: October 29, 2024 :
: 13,678 6,570 960 346 351 -11,456 -3,129 2,246 -1,641 -2,335 426 :
: Percent of Open Interest Represented by Each Category of Trader :
: 74.1 48.1 2.0 4.9 0.4 6.8 25.2 7.9 3.1 7.3 5.1 :
: Number of Traders in Each Category Total Traders: 313 :
: 55 69 5 4 4 27 52 27 54 77 55 :
—————————————————————————————————————-

Midwest Weather Forecast Mostly dry. Temperatures should average near normal.

DJ Malaysian PM Cash Market Prices for Palm Oil – Nov 11
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
Nov 1250.00 +15.00 Unquoted – –
Dec 1240.00 +10.00 Unquoted – –
Jan/Feb/Mar 1227.50 +17.50 Unquoted – –
Apr/May/Jun 1137.50 +02.50 Unquoted – –
Jul/Aug/Seep 1075.00 -05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1255.00 +15.00 Unquoted – –
Dec 1245.00 +10.00 Unquoted – –
Jan/Feb/Mar 1232.50 +17.50 Unquoted – –
Apr/May/Jun 1142.50 +02.40 Unquoted – –
Jul/Aug/Sep 1080.00 -05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1225.00 +10.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Nov 1010.00 00.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 5,280.00 +120.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 515.00 +15.00 Unquoted – –
($1=MYR4.408)

DJ China Dalian Grain Futures Closing Prices, Volume – Nov 11
Soybean No. 1
Turnover: 144,725 lots, or 5.87 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-24 4,026 4,026 4,026 4,026 3,980 4,023 43 2 701
Jan-25 4,034 4,087 4,022 4,050 4,059 4,052 -7 115,029 221,938
Mar-25 4,016 4,078 4,016 4,046 4,043 4,048 5 5,649 30,124
May-25 4,058 4,098 4,045 4,076 4,078 4,072 -6 21,183 42,863
Jul-25 4,074 4,117 4,067 4,097 4,104 4,091 -13 1,190 5,621
Sep-25 4,096 4,135 4,086 4,116 4,121 4,111 -10 1,672 8,734
Corn
Turnover: 708,726 lots, or 15.64 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-24 2,185 2,185 2,150 2,150 2,191 2,168 -23 3,670 0
Jan-25 2,195 2,206 2,181 2,187 2,211 2,191 -20 533,133 943,901
Mar-25 2,223 2,231 2,203 2,208 2,232 2,213 -19 54,421 322,115
May-25 2,274 2,285 2,260 2,265 2,287 2,270 -17 87,369 239,158
Jul-25 2,302 2,311 2,286 2,290 2,314 2,296 -18 22,372 99,582
Sep-25 2,324 2,336 2,309 2,315 2,338 2,315 -23 7,761 18,395
Soymeal
Turnover: 2,814,670 lots, or 84.56 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-24 3,020 3,025 3,019 3,025 3,052 3,020 -32 8 5,142
Dec-24 3,020 3,122 3,009 3,088 3,061 3,070 9 25,290 63,335
Jan-25 3,023 3,103 3,008 3,086 3,061 3,063 2 1,654,784 1,381,218
Mar-25 2,955 3,049 2,953 3,033 2,998 3,012 14 72,998 288,466
May-25 2,853 2,925 2,845 2,920 2,879 2,895 16 880,227 1,696,738
Jul-25 2,850 2,910 2,841 2,904 2,870 2,887 17 29,386 181,618
Aug-25 2,947 3,016 2,941 3,008 2,970 2,991 21 14,774 111,091
Sep-25 2,940 3,016 2,940 3,011 2,973 2,987 14 137,203 335,585
Palm Oil
Turnover: 1,528,037 lots, or 15.47 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-24 – – – 9,844 9,844 9,844 0 0 680
Dec-24 10,188 10,398 10,176 10,282 10,062 10,258 196 13,899 5,363
Jan-25 10,130 10,328 10,106 10,212 9,996 10,196 200 1,336,676 598,460
Feb-25 9,944 10,146 9,940 10,042 9,832 10,022 190 9,500 8,435
Mar-25 9,782 9,960 9,770 9,872 9,652 9,854 202 1,530 2,721
Apr-25 9,638 9,798 9,624 9,700 9,524 9,706 182 166 404
May-25 9,470 9,654 9,452 9,568 9,354 9,560 206 162,474 187,710
Jun-25 9,380 9,484 9,344 9,396 9,214 9,400 186 64 416
Jul-25 9,124 9,316 9,124 9,206 8,980 9,208 228 103 333
Aug-25 8,970 9,082 8,970 9,028 8,818 9,028 210 23 67
Sep-25 8,856 8,988 8,822 8,886 8,734 8,908 174 3,548 9,246
Oct-25 8,822 8,900 8,782 8,790 8,602 8,834 232 54 174
Soybean Oil
Turnover: 888,553 lots, or 78.02 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-24 – – – 8,428 8,428 8,428 0 0 40
Dec-24 8,852 8,942 8,794 8,834 8,866 8,868 2 6,140 11,884
Jan-25 8,880 8,954 8,796 8,838 8,880 8,876 -4 660,112 631,621
Mar-25 8,644 8,726 8,606 8,648 8,626 8,660 34 4,782 10,874
May-25 8,486 8,560 8,440 8,484 8,438 8,498 60 207,922 439,769
Jul-25 8,288 8,338 8,238 8,260 8,216 8,286 70 241 1,854
Aug-25 8,216 8,294 8,216 8,242 8,196 8,254 58 94 258
Sep-25 8,200 8,284 8,172 8,212 8,164 8,224 60 9,262 28,218
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