Grains Report 07/14/2025

DJ USDA Report: Summary for U.S. Agriculture Supply, Demand Report
WASHINGTON–The following are key numbers from USDA’s crop report
and how the government’s estimates compared to analysts’ forecasts in a
Wall Street Journal survey.
U.S. 2025 Production, Yield (million bushels, bushels per acre)
Friday’s
Estimate Average Range USDA June
Corn Production 15,705 15,748 15,624-15,953 15,820
Soybean Production 4,335 4,331 4,290-4,340 4,340
Friday’s
Estimate Average Range USDA June
Corn Yield 181.0 * 181.1 180.0-182.5 181.0
Soybean Yield 52.5 ** 52.5 52.0-52.5 52.5
***
U.S. Stockpiles (million bushels)
2024-25
Friday’s
Estimate Average Range USDA June
Corn 1,340 1,342 1,300-1,415 1,365
Soybeans 350 358 329-380 350
Wheat 851 848 840-851 841
2025-26
Friday’s
Estimate Average Range USDA June
Corn 1,660 1,733 1,630-1,856 1,750
Soybeans 310 304 275-377 295
Wheat 890 893 842-923 898
***
World Stockpiles (million metric tons)
2024-25
Friday’s
Estimate Average Range USDA June
Corn 284.2 286.2 284.7-290.0 285.0
Soybeans 125.1 124.3 123.1-126.5 124.2
Wheat 263.6 264.3 264.0-265.0 264.0
2025-26
Friday’s
Estimate Average Range USDA June
Corn 272.1 276.8 275.0-280.0 275.2
Soybeans 126.1 125.5 124.3-126.0 125.3
Wheat 261.5 264.7 260.7-276.0 262.8
***
2025-26 Wheat Production (million bushels)
Friday’s
Estimate Average Range USDA June
All Wheat 1,929 1,903 1,846-1,956 1,921
Winter Wheat 1,345 1,349 1,297-1,401 1,382
Hard Red Winter 756 767 735-792 782
Soft Red Winter 337 338 309-353 345
White Winter 254 249 239-256 254
Other Spring 504 477 443-540 N/A
Durum 80 78 70-85 N/A
2024-25 Brazil Corn, Soybean Production (million metric tons)
Friday’s
Estimate Average Range USDA June
Corn 132.0 132.9 130.0-138.0 130.0
Soybeans 169.0 169.4 168.8-171.0 169.0
2024-25 Argentina Corn, Soybean Production (million metric tons)
Friday’s
Estimate Average Range USDA June
Corn 50.0 50.0 49.0-50.5 50.0
Soybeans 49.9 49.3 49.0-50.0 49.0

DJ USDA Supply/Demand: Crop Summary – Jul 11
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
25/26 24/25 23/24: 25/26 24/25 23/24: 25/26 24/25 23/24
Soybeans 310.0 350.0 342.0:187.63 180.73 177.81:427.68 422.00 396.93
Brazil na na na:112.00 102.10 104.17:175.00 169.00 154.50
Argentina na na na: 5.00 6.10 5.11: 48.50 49.90 48.21
China na na na: 0.10 0.08 0.07: 21.00 20.65 20.84
Soyoil 1,671 1,451 1,551: 13.21 14.18 11.81: 71.02 68.36 63.96
Corn 1,660 1,340 1,763:195.81 192.57 192.57: 1,264 1,225 1,231
China na na na: 0.02 0.02 0.00:295.00 294.92 288.84
Argentina na na na: 37.00 34.50 36.26: 53.00 50.00 51.00
S.Africa na na na: 1.90 1.60 2.27: 16.50 15.75 13.43
Cotton(a) 4.60 4.10 3.15: 44.69 42.99 44.59:118.42 119.90 112.96
All Wheat 890 851 696:213.06 206.59 222.24:808.55 799.92 791.95
China na na na: 1.00 1.00 1.04:142.00 140.10 136.59
European
Union na na na: 32.50 26.50 38.01:137.25 122.12 135.38
Canada na na na: 27.00 27.50 25.43: 35.00 34.96 32.95
Argentina na na na: 13.00 11.00 8.23: 20.00 18.54 15.85
Australia na na na: 23.00 25.00 19.84: 31.00 34.11 25.96
Russia na na na: 46.00 43.00 55.50: 83.50 81.60 91.50
Ukraine na na na: 15.50 15.90 18.58: 22.00 23.40 23.00
Sorghum 39.0 52.0 33.0: na na na: na na na
Barley 76.0 70.0 78.0: na na na: na na na
Oats 32.0 30.0 36.0: na na na: na na na
Rice 44.7 47.0 39.8: 61.75 62.19 56.79:541.27 541.51 523.65

DJ CBOT Delivery Intentions: Totals – Jul 14
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL July Jul 15, 2025 198 Jul 11, 2025
ROUGH RICE July Jul 15, 2025 36 Jul 11, 2025
CORN July Jul 15, 2025 69 Jul 11, 2025
KC HRW WHEAT July Jul 15, 2025 5 Jul 11, 2025
SOYBEAN July Jul 15, 2025 4 Jul 11, 2025
WHEAT July Jul 15, 2025 34 Jul 10, 2025
MINI-SIZED SOYBEANS July Jul 15, 2025 5 Jun 26, 2025

WHEAT
General Comments: Wheat was lower last week. USDA kept ending stocks levels close to trade estimates in the WASDE reports released on Friday. Yields were increased slightly but demand ideas were solid. Harvest conditions for Winter Wheat appears to be good in the US and Spring Wheat development is good. Rains have been good in the northern Greasy Plains but Canada has been a little too dry for best yield potential. Russia is still being watched for dry weather that could hurt yields and Ukraine is watched for the same reason and because of the war that could destroy some fields. Southern hemisphere crops appear to be good.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to up Support is at 535, 521 and 508 September, with resistance at 568, 572, and 582 September. Trends in Kansas City are mixed. Support is at 521, 516, and 504 September, with resistance at 550, 565, and 578 September. Trends in Minneapolis are not available.

COT — Supplemental Report – Option and Futures Combined Positions as of July 08, 2025
: 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 446,165
: Positions :
: 63,277 137,682 130,359 97,043 76,565 124,502 64,003 415,180 408,608: 30,986 37,558
: Changes from: July 1, 2025 (Change in open interest: 11,683) :
: 2,436 2,686 5,630 1,519 6,477 3,644 -3,463 13,228 11,329: -1,545 353
: Percent of Open Interest Represented by Each Category of Trader :
: 14.2 30.9 29.2 21.8 17.2 27.9 14.3 93.1 91.6: 6.9 8.4
: Total Traders: 373 Number of Traders in Each Category :
: 74 117 118 100 96 45 27 298 288:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of July 08, 2025
: 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 281,880
: Positions :
: 27,882 70,467 66,984 78,464 90,751 89,594 30,862 262,923 259,063: 18,957 22,817
: Changes from: July 1, 2025 (Change in open interest: 3,613) :
: 3,427 3,299 1,310 -2,327 -5,274 1,311 3,423 3,721 2,759: -108 854
: Percent of Open Interest Represented by Each Category of Trader :
: 9.9 25.0 23.8 27.8 32.2 31.8 10.9 93.3 91.9: 6.7 8.1
: Total Traders: 254 Number of Traders in Each Category :
: 56 63 63 79 68 36 18 206 180:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 8, 2025
: 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 – MIAX FUTURES EXCHANGE (CONTRACTS OF 5,000 BUSHELS) :
CFTC Code #001626 Open Interest is 58,808 :
: Positions :
: 22,855 30,254 3,858 700 559 13,112 10,825 3,916 3,571 1,629 3,039 :
: Changes from: July 1, 2025 :
: -467 2,646 -370 -145 -90 1,916 -1,510 -873 -24 -271 -16 :
: Percent of Open Interest Represented by Each Category of Trader :
: 38.9 51.4 6.6 1.2 1.0 22.3 18.4 6.7 6.1 2.8 5.2 :
: Number of Traders in Each Category Total Traders: 104 :
: 44 39 6 . 5 13 16 11 5 7 7 :
—————————————————————————————————————-

RICE:
General Comments Rice was lower last week. USDA decreased production estimates but also cut back on demand estimates in its monthly WASDE report. Ending stocks were up 0.6 million cwt to 3a4.6 million. Weaker Asian prices are still around and are still a drag on US futures. South America has been offering less. Chart trends are still mostly down on the daily charts. The cash market has been slow with mostly quiet domestic markets and average export demand. Milling quality of the Rice remains below industry standards and it takes more Rough Rice to create the grain for sale to stores and exporters. Rice is heading in most growing areas now. Condition has been rated as good and the ratings by USDA are above last year.
Overnight News:
Chart Analysis: Trends are down. Support is at 1275, 1266, and 1254 September and resistance is at 1333, 1369, and 1392 September.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 8, 2025
: 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 10,888 :
: Positions :
: 5,461 2,239 154 128 0 324 4,604 286 1,453 909 1,201 :
: Changes from: July 1, 2025 :
: 356 -343 0 23 0 0 867 182 -87 133 54 :
: Percent f Open Interest Represented by Each Category of Trader :
: 50.2 20.6 1.4 1.2 0.0 3.0 42.3 2.6 13.3 8.3 11.0 :
: Number of Traders in Each Category Total Traders: 81 :
: 21 13 . . 0 . 23 . 17 9 8 :
—————————————————————————————————————-

CORN AND OATS
General Comments: Corn was lower last week and got no help on Friday from the USDA WASDE reports. USDA cut its production estimated slightly but kept a year on year increase in ending stocks levels intact. The weather forecasts remained cooler this week. Reduced heat and some showers are expected in the Midwest this week, but temperatures could turn warmer this weekend with more wet weather possible early next week. A moderate drought is seen near the Chicago area, but the drought area is shrinking. The rest of the Midwest has seen adequate or greater precipitation. Demand for Corn in world markets remains strong. Oats were higher
Overnight News:
Chart Analysis: Trends in Corn are mixed to down. Support is at 393, 390, and 387 September, and resistance is at 406, 414, and 418 September. Trends in Oats are mixed. Support is at 366, 360, and 349 September, and resistance is at 383, 388, and 394 September.

COT — Supplemental Report – Option and Futures Combined Positions as of July 08, 2025
: 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 1,945,043
: Positions :
: 107,912 392,104 579,795 623,500 587,483 449,757 167,601 1,760,965 1,726,983: 184,078 218,060
: Changes from: July 1, 2025 (Change in open interest: 58,745) :
: -3,183 -20,281 46,338 17,966 22,588 -1,813 293 59,308 48,938: -563 9,807
: Percent of Open Interest Represented by Each Category of Trader :
: 5.5 20.2 29.8 32.1 30.2 23.1 8.6 90.5 88.8: 9.5 11.2
: Total Traders: 778 Number of Traders in Each Category :
: 125 161 198 344 337 51 29 647 615:
——————————————————————————————————————-

SOYBEANS
General Comments: Soybeans and Soybean Meal were lower last week on good growing conditions in the Midwest. Soybean Oil was near unchanged. USDA made no important changes in the WASDE data released on Friday but did modify production slightly based off of the acreage estimates from June. Lower priced offers from Brazil in the world market are still important to the US price action. The market could remain under pressure as Brazil basis levels have been under pressure the last few weeks and prices in world markets for Brazil Soybeans are now less than those from the US. Export demand is in its seasonal doldrums. Export demand remains less for US Soybeans as China has been taking almost all the export from South America.
Overnight News:
Analysis: Trends in Soybeans are down. Support is at 983, 970, and 958 August, and resistance is at 1017, 1025, and 1030 August. Trends in Soybean Meal are mixed to down. Support is at 268.00, 265.00, and 262.00 August, and resistance is at 276.00, 282.00, and 287.00 August. Trends in Soybean Oil are mixed. Support is at 5150, 5080, and 4920 August, with resistance at 5600, 5720, and 5840 August.

COT — Supplemental Report – Option and Futures Combined Positions as of July 08, 2025
: 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 1,045,797
: Positions :
: 77,959 141,094 300,391 407,059 489,980 206,230 43,274 991,639 974,739: 54,158 71,058
: Changes from: July 1, 2025 (Change in open interest: 21,464) :
: -5,022 5,863 4,086 17,939 7,768 2,155 904 19,158 18,621: 2,306 2,842
: Percent of Open Interest Represented by Each Category of Trader :
: 7.5 13.5 28.7 38.9 46.9 19.7 4.1 94.8 93.2: 5.2 6.8
: Total Traders: 571 Number of Traders in Each Category :
: 122 144 182 204 199 47 19 488 449:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of July 08, 2025
: 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 672,105
: Positions :
: 73,125 72,115 189,159 214,594 350,591 154,928 29,472 631,806 641,337: 40,299 30,768
: Changes from: July 1, 2025 (Change in open interest: 6,753) :
: -2,128 -1,241 11,264 -3,445 -5,070 366 -625 6,057 4,329: 696 2,424
: Percent of Open Interest Represented by Each Category of Trader :
: 10.9 10.7 28.1 31.9 52.2 23.1 4.4 94.0 95.4: 6.0 4.6
: Total Traders: 339 Number of Traders in Each Category :
: 80 72 109 103 106 44 21 290 258:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of July 08, 2025
: 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 725,780
: Positions :
: 62,236 183,647 180,754 293,133 283,805 125,141 40,706 661,264 688,911: 64,516 36,869
: Changes from: July 1, 2025 (Change in open interest: 22,437) :
: -1,982 -2,782 11,833 15,844 13,283 -1,816 -1,336 23,879 20,998: -1,443 1,438
: Percent of Open Interest Represented by Each Category of Trader :
: 8.6 25.3 24.9 40.4 39.1 17.2 5.6 91.1 94.9: 8.9 5.1
: Total Traders: 369 Number of Traders in Each Category :
: 71 108 91 131 108 38 21 300 271:
——————————————————————————————————————-

PALM OIL AND CANOLA
General Comments: Palm Oil futures were higher last week on improved demand hopes. Futurez were higher today in sympathy with the outside markets. Ideas that current increased production levels mean higher inventories in MPOB monthly data are still around. Canola was higher. Trends are mixed to up on the daily charts and on the weekly charts. The weather has generally been dry for planting and crop development in the Prairies with warm and dry weather around lately.
Overnight News:
Chart Analysis: Trends in Canola are up. Support is at 683.00, 679.00, and 665.00 November, with resistance at 707.00, 717.00, and 738.00 November. Trends in Palm Oil are up. Support is at 4080, 4010, and 3960 September, with resistance at 4210, 4270, and 4310 September.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 8, 2025
: 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 15,822 :
: Positions :
: 10,687 5,632 78 4,497 1,151 1,224 0 180 1,012 2,872 1,480 :
: Changes from: July 1, 2025 :
: 558 158 0 0 100 0 0 0 0 400 140 :
: Percent of Open Interest Represented by Each Category of Trader :
: 67.5 35.6 0.5 28.4 7.3 7.7 0.0 1.1 6.4 18.2 9.4 :
: Number of Traders in Each Category Total Traders: 28 :
: 8 7 . 5 . . 0 . . 5 . :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 8, 2025
: 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 251,638 :
: Positions :
: 53,482 168,713 8,529 14,513 1,239 134,690 11,184 24,812 13,767 14,958 13,659 :
: Changes from: July 1, 2025 :
: 290 -13,282 580 -860 -16 -11,895 2,817 690 383 681 -1,327 :
: Percent of Open Interest Represented by Each Category of Trader :
: 21.3 67.0 3.4 5.8 0.5 53.5 4.4 9.9 5.5 5.9 5.4 :
: Number of Traders in Each Category Total Traders: 349 :
: 40 75 7 4 5 74 19 22 54 98 48 :
—————————————————————————————————————-

DJ Malaysia’s June Palm Oil Exports 1.26M Tons; Down 11%, MPOB Says
Malaysia’s palm oil exports were down 11% on month at 1.26 million metric tons in June, the Malaysian Palm Oil Board said.
The following are details of the June crop data and revised numbers for May, issued by MPOB:
June May Change
On Month
Crude Palm Oil Output 1,692,310 1,771,621 Dn 4.48%
Palm Oil Exports 1,259,354 1,407,411 Dn 10.52%
Palm Kernel Oil Exports 86,173 119,020 Dn 27.6%
Palm Oil Imports 70,015 68,971 Up 1.51%
Closing Stocks 2,030,580 1,982,759 Up 2.41%
Crude Palm Oil 1,041,740 1,101,387 Dn 5.42%
Processed Palm Oil 988,840 881,372 Up 12.19%

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

DJ Malaysian PM Cash Market Prices for Palm Oil – July 14
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
Jul 1027.50 +10.00 Unquoted – –
Aug/Sep 1027.50 +10.00 Unquoted – –
Oct/Nov/Dec 1030.00 +10.00 Unquoted – –
Jan/Feb/Mar 1032.50 +05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jul 1032.50 +10.00 Unquoted – –
Aug/Sep 1032.50 +10.00 Unquoted – –
Oct/Nov/Dec 1035.00 +10.00 Unquoted – –
Jan/Feb/Mar 1037.50 +05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jul 1000.00 +05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jul 915.00 +05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jul 4,190.00 +30.00 Unquoted –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jul 425.00 +12.00 Unquoted – –
($1=MYR4.2505)

DJ China Dalian Grain Futures Closing Prices, Volume – Jul 14
Soybean No. 1
Turnover: 160,594 lots, or 6.59 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-25 4,170 4,170 4,170 4,170 4,150 4,177 27 395 0
Sep-25 4,095 4,136 4,090 4,131 4,098 4,116 18 127,492 198,094
Nov-25 4,042 4,064 4,036 4,056 4,040 4,051 11 23,363 69,012
Jan-26 4,032 4,050 4,025 4,044 4,027 4,038 11 5,675 26,816
Mar-26 4,023 4,041 4,016 4,035 4,021 4,029 8 3,467 23,132
May-26 4,056 4,075 4,054 4,069 4,056 4,065 9 202 838
Corn
Turnover: 964,811 lots, or 22.04 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-25 – – – 2,353 2,283 2,353 70 0 0
Sep-25 2,303 2,305 2,276 2,302 2,312 2,293 -19 736,647 1,017,804
Nov-25 2,273 2,276 2,256 2,272 2,273 2,266 -7 137,776 389,838
Jan-26 2,230 2,240 2,220 2,238 2,233 2,230 -3 67,005 142,500
Mar-26 2,235 2,242 2,225 2,241 2,236 2,233 -3 12,874 78,554
May-26 2,264 2,274 2,255 2,272 2,267 2,264 -3 10,509 26,178
Soymeal
Turnover: 1,675,258 lots, or 49.64 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-25 – – – 2,827 2,802 2,827 25 16 0
Aug-25 2,957 2,977 2,943 2,975 2,952 2,958 6 54,873 88,775
Sep-25 2,976 2,995 2,961 2,992 2,971 2,977 6 1,019,387 1,993,430
Nov-25 3,011 3,033 3,000 3,030 3,009 3,015 6 119,017 656,649
Dec-25 3,032 3,054 3,023 3,050 3,034 3,038 4 16,778 125,017
Jan-26 3,009 3,025 2,999 3,021 3,009 3,011 2 299,000 1,131,150
Mar-26 2,875 2,881 2,863 2,878 2,871 2,873 2 39,364 378,191
May-26 2,701 2,706 2,695 2,703 2,704 2,700 -4 126,823 575,954
Palm Oil
Turnover: 634,658 lots, or 5.52 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-25 – – – 8,446 8,620 8,446 -174 0 0
Aug-25 8,672 8,776 8,672 8,760 8,708 8,726 18 6,311 4,707
Sep-25 8,682 8,760 8,644 8,748 8,686 8,702 16 544,815 505,476
Oct-25 8,666 8,748 8,640 8,744 8,698 8,694 -4 2,753 5,363
Nov-25 8,630 8,738 8,630 8,728 8,648 8,680 32 1,254 1,426
Dec-25 8,676 8,730 8,630 8,730 8,660 8,670 10 285 578
Jan-26 8,650 8,730 8,618 8,718 8,672 8,672 0 76,986 158,896
Feb-26 8,648 8,690 8,610 8,688 8,654 8,632 -22 38 938
Mar-26 8,606 8,640 8,550 8,632 8,576 8,604 28 29 296
Apr-26 8,510 8,564 8,510 8,564 8,552 8,546 -6 11 107
May-26 8,450 8,512 8,430 8,492 8,450 8,470 20 2,169 9,268
Jun-26 8,420 8,442 8,408 8,424 8,448 8,420 -28 7 49
Soybean Oil
Turnover: 369,704 lots, or 29.49 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-25 – – – 8,050 7,970 8,050 80 0 0
Aug-25 7,976 8,026 7,960 8,006 7,960 7,994 34 4,807 8,858
Sep-25 7,986 8,026 7,958 7,994 7,970 7,988 18 275,664 507,072
Nov-25 7,994 8,024 7,970 7,992 7,974 7,994 20 1,734 6,885
Dec-25 8,042 8,044 7,996 8,022 7,996 8,028 32 68 1,573
Jan-26 7,976 8,004 7,926 7,960 7,950 7,960 10 78,956 312,306
Mar-26 7,904 7,904 7,838 7,858 7,842 7,878 36 85 1,173
May-26 7,620 7,776 7,614 7,628 7,602 7,652 50 8,390 33,459
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