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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

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Grains Report 09/15/2025

By Jack Scoville On September 15, 2025 - 10:13 AM · In Market Commentaries, Morning Grains & Softs Report

DJ CBOT Delivery Intentions: Totals – Sep 15

Source: CME Group

Contract Quantity Next Trade

Commodity Month Delivery Day Assigned Today Date Available

SOYBEAN MEAL September Sep 16, 2025 3 Sep 12, 2025

SOYBEAN OIL September Sep 16, 2025 161 Sep 12, 2025

ROUGH RICE September Sep 16, 2025 116 Sep 12, 2025

CORN September Sep 16, 2025 36 Sep 12, 2025

KC HRW WHEAT September Sep 16, 2025 22 Sep 02, 2025

OATS September Sep 16, 2025 15 Sep 12, 2025

SOYBEAN September Sep 16, 2025 20 Sep 12, 2025

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. 2025 Production, Yield (million bushels, bushels per acre)

Friday’s Average USDA

Estimates Forecast Range August

Corn Production 16,814.0 16,511 16,204-16,764 16,742

Soybean Production 4,301.0 4,273 4,236-4,347 4,292

Friday’s Average USDA

Estimates Forecast Range August

Corn Yield 186.7 186.1 182.7-189.0 188.8

Soybean Yield 53.5 53.3 52.9-54.0 53.6

****

U.S. Stockpiles (million bushels)

2024-25

Friday’s Average USDA

Estimates Forecast Range August

Corn 1,325 1,308 1,275-1,330 1,305

Soybeans 330 327 306-335 330

2025-26

Friday’s Average USDA

Estimates Forecast Range August

Corn 2,110 2,022 1,748-2,344 2,117

Soybeans 300 293 223-347 290

Wheat 844 862 836-880 869

****

World Stockpiles (million metric tons)

2024-25

Friday’s Average USDA

Estimates Forecast Range August

Corn 284.2 284.4 283.2-286.0 283.1

Soybeans 123.6 125.6 124.4-128.0 125.2

Wheat 262.4 263.1 262.7-265.0 262.7

2025-26

Friday’s Average USDA

Estimates Forecast Range August

Corn 281.4 282.8 279.7-287.6 282.5

Soybeans 124.0 125.4 123.2-127.0 124.9

Wheat 264.1 260.8 258.4-263.0 260.1

DJ USDA Supply/Demand: Crop Summary – Sep 12

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 300.0 330.0 342.0:187.78 183.47 177.81:425.87 424.20 396.36

Brazil na na na:112.00 102.10 104.17:175.00 169.00 154.50

Argentina na na na: 6.00 7.30 5.11: 48.50 50.90 48.21

China na na na: 0.10 0.08 0.07: 21.00 20.65 20.84

Soyoil 1,736 1,561 1,551: 13.10 14.67 11.81: 70.87 68.69 64.00

Corn 2,110 1,325 1,763:201.71 193.80 192.57: 1,287 1,229 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: 2.00 1.80 2.27: 16.50 16.50 13.43

Cotton(a) 3.60 4.00 3.15: 43.70 42.71 44.36:117.68 119.22 112.56

All Wheat 844 851 696:214.72 209.57 222.24:816.20 800.86 792.34

China na na na: 1.00 1.02 1.01:140.00 140.10 136.59

European

Union na na na: 32.50 27.81 38.01:140.10 122.12 135.38

Canada na na na: 27.00 29.28 25.44: 36.00 35.94 33.41

Argentina na na na: 13.00 11.00 8.23: 19.50 18.54 15.85

Australia na na na: 25.00 25.00 19.84: 34.50 34.11 25.96

Russia na na na: 45.00 43.00 55.50: 85.00 81.60 91.50

Ukraine na na na: 15.00 15.75 18.58: 23.00 23.40 23.00

Sorghum 44.0 52.0 33.0: na na na: na na na

Barley 67.0 70.0 78.0: na na na: na na na

Oats 34.0 30.0 36.0: na na na: na na na

Rice 53.4 53.9 39.8: 62.15 61.12 56.84:541.07 540.93 523.73

WHEAT

General Comments: Wheat was a little higher last week, but trailed the rallies in Corn and Soybeans as reports of weaker Russian prices are still around. USDA cut US ending stocks to 844 million bushels and cut world ending stocks to 262.4 million tons. Sovecon in Russia raised production estimates to 86.1 million tons, from 85.4 million in its previous estimate, due to increased Spring wheat production found in the Volga valley region. However, other private analysts question the big production estimates put forward by Sovecon and other large sources and claim they are way too large. The Ruble hs been weaker to help support higher internal prices paid to farmers in Russia. It remains too dry in Winter Wheat areas and too wet in Spring Wheat areas of Russia. A French government report showed plenty of production but lower quality. The Spring Wheat harvest is active and the Winter Wheat harvest is done. Rains have been good in the northern Great Plains but Canada has been a little too dry for best yield potential and the northern Plains had hot and dry areas earlier in the year. Russian Black Sea prices have been dropping as late yields have improved. Southern hemisphere crops appear to be good and Australia estimates that production this year will be high.

Overnight News:

Chart Analysis: Trends in Chicago are mixed. Support is at 511, 505 and 499 December, with resistance at 527, 535, and 543 December. Trends in Kansas City are mixed. Support is at 502, 496, and 490 December, with resistance at 520, 523, and 529 December. Trends in Minneapolis are not available.

COT — Supplemental Report – Option and Futures Combined Positions as of September 09, 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 497,433

: Positions :

: 78,105 177,809 140,473 123,049 80,415 119,557 64,206 461,184 462,904: 36,249 34,529

: Changes from: September 2, 2025 (Change in open interest: 26,726) :

: 2,459 9,291 12,731 12,298 2,904 -1,236 1,641 26,253 26,568: 473 158

: Percent of Open Interest Represented by Each Category of Trader :

: 15.7 35.7 28.2 24.7 16.2 24.0 12.9 92.7 93.1: 7.3 6.9

: Total Traders: 407 Number of Traders in Each Category :

: 102 120 122 98 95 45 32 315 306:

——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 09, 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 314,134

: Positions :

: 44,956 91,704 78,836 74,456 90,314 94,862 33,748 293,110 294,603: 21,024 19,531

: Changes from: September 2, 2025 (Change in open interest: 18,250) :

: 5,121 623 10,565 1,374 5,430 1,054 2,466 18,115 19,084: 136 -833

: Percent of Open Interest Represented by Each Category of Trader :

: 14.3 29.2 25.1 23.7 28.8 30.2 10.7 93.3 93.8: 6.7 6.2

: Total Traders: 269 Number of Traders in Each Category :

: 54 71 70 73 76 37 17 202 200:

——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 9, 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 68,264 :

: Positions :

: 39,598 20,020 3,234 1,830 214 7,770 32,169 2,533 5,081 1,261 2,263 :

: Changes from: September 2, 2025 :

: -321 2,459 -11 -685 -109 887 792 159 1,482 -103 789 :

: Percent of Open Interest Represented by Each Category of Trader :

: 58.0 29.3 4.7 2.7 0.3 11.4 47.1 3.7 7.4 1.8 3.3 :

: Number of Traders in Each Category Total Traders: 123 :

: 53 40 5 . . 11 21 11 9 6 8 :

—————————————————————————————————————-

RICE:

General Comments Rice was lower last week and USDA issued bearish reports on Friday. Production was higher at 208.777 million cwt on increased harvested area and a slight reduction in yields. Ending stocks were increased to 53.4 million cwt on more production and less demand, especially for export. The harvest is wrapping up in Texas and southern Louisiana. Crop condition ratings were mostly good last week. Chart trends are down on the charts. The cash market has been slow with low bids from buyers in domestic markets and average or less export demand. Louisiana reports good but not great yields and quality. Texas reports average to below average field and milling yields. Milling quality of the old crop Rice remains below industry standards and it takes more Rough Rice to create the grain for sale to stores and exporters. Harvest is increasing in Mississippi and Arkansas.

Overnight News:

Chart Analysis: Trends are mixed to down. Support is at 1136, 1124, and 1112 November and resistance is at 1168, 1181, and 1201 November.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 9, 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 12,552 :

: Positions :

: 6,128 1,708 189 154 0 349 6,216 87 1,777 1,138 1,194 :

: Changes from: September 2, 2025 :

: -190 -277 0 9 0 82 -189 86 -129 293 -100 :

: Percent of Open Interest Represented by Each Category of Trader :

: 48.8 13.6 1.5 1.2 0.0 2.8 49.5 0.7 14.2 9.1 9.5 :

: Number of Traders in Each Category Total Traders: 71 :

: 19 16 . . 0 . 21 . 11 7 6 :

—————————————————————————————————————-

CORN AND OATS

General Comments: Corn was higher last week as the crop is maturing. Ideas are that futures have created a low as prices were able to rally on no news or bad news. The USDA reports were negative for futures as production was increased to 16.814 billion bushels on increased planted area and a decrease in yield estimates. Ending stocks were increased to 2.110 billion bushels and world stocks were decreased to 284.2 million tons. Ethanol demand was down 6% from last month at 456 million bushels and there are concerns about feed demand moving forward as feeder cattle imports from Mexico have been banned due to reports of screw worm disease in the cattle. There are also ideas that US production might not be super strong due to disease such as rust to offset the demand losses. Temperatures should average near to above normal this week and it should be mostly dry. Most of the western Midwest has seen adequate or greater precipitation and production ideas are high. Areas east of the Mississippi River have been very dry for the last month or more. Demand for Corn in world markets remains moderate to strong. Oats were lower and made new lows on the weekly charts.

Overnight News: Unknown destinations bought 148,971 tons of US Corn.

Chart Analysis: Trends in Corn are mixed to up. Support is at 420, 417, and 414 December, and resistance is at 430, 434, and 442 December. Trends in Oats are mixed. Support is at 319, 313, and 307 December, and resistance is at 329, 338, and 344 December.

COT — Supplemental Report – Option and Futures Combined Positions as of September 09, 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 1,931,195

: Positions :

: 120,925 356,224 561,372 633,632 669,384 445,173 135,584 1,761,102 1,722,564: 170,093 208,631

: Changes from: September 2, 2025 (Change in open interest: 35,997) :

: -26,607 -8,304 44,729 6,869 -4,336 3,749 1,344 28,740 33,433: 7,256 2,563

: Percent of Open Interest Represented by Each Category of Trader :

: 6.3 18.4 29.1 32.8 34.7 23.1 7.0 91.2 89.2: 8.8 10.8

: Total Traders: 827 Number of Traders in Each Category :

: 108 184 190 376 374 50 26 662 663:

——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 9, 2025

: 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 4,190 :

: Positions :

: 751 1,917 0 106 0 0 562 0 1,385 186 30 :

: Changes from: September 2, 2025 :

: . . . . . . . . . . . :

: Percent of Open Interest Represented by Each Category of Trader :

: 17.9 45.7 0.0 2.5 0.0 0.0 13.4 0.0 33.1 4.4 0.7 :

: Number of Traders in Each Category Total Traders: 20 :

: 5 7 0 . 0 0 . 0 7 . . :

—————————————————————————————————————-

SOYBEANS

General Comments: Soybeans and both products were higher last week despite increased production estimates from USDA seen on Friday. Ideas are that futures have created a low as prices were able to rally on no news or bad news. USDA estimated US Soybean production at 4.301 billion bushels, from 4.292 billion last month. Yields were little changed at 53.5 bu/acre. Ending stocks were increased to 300 million bushels for the US but were a little lower for the world at 264.1 million tons. Cool and dry weather has been seen recently in the Midwest. The dry weather could hurt pod fill and bean size. A drop in condition ratings by USDA was expected and given as a reason to buy. China has not bought US Soybeans yet and traders are worried that demand for the new crop will be a lot less this year. Good growing conditions continue in the Midwest with cool and mostly dry weather in the forecast. Prices are still higher in Brazil, but China and other buyers are still buying there for political reasons. 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 mixed to up. Support is at 1035, 1022, and 1012 November, and resistance is at 1055, 1063, and 1074 November. Trends in Soybean Meal are mixed. Support is at 274.00, 270.00, and 266.00 October, and resistance is at 290.00, 293.00, and 295.00 October. Trends in Soybean Oil are mixed. Support is at 5050, 4940, and 4840 October, with resistance at 5240, 5340, and 5440 October.

COT — Supplemental Report – Option and Futures Combined Positions as of September 09, 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 1,085,745

: Positions :

: 62,249 133,561 289,721 451,648 537,414 225,606 52,059 1,029,224 1,012,755: 56,520 72,990

: Changes from: September 2, 2025 (Change in open interest: 10,916) :

: -9,863 8,639 -4,128 22,660 3,639 1,628 3,290 10,298 11,441: 618 -526

: Percent of Open Interest Represented by Each Category of Trader :

: 5.7 12.3 26.7 41.6 49.5 20.8 4.8 94.8 93.3: 5.2 6.7

: Total Traders: 642 Number of Traders in Each Category :

: 134 151 194 234 258 48 25 526 534:

——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 09, 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 703,104

: Positions :

: 60,273 95,207 219,925 225,703 325,666 160,795 33,278 666,696 674,075: 36,408 29,029

: Changes from: September 2, 2025 (Change in open interest: 28,499) :

: -7,913 9,015 13,606 17,935 3,654 4,115 159 27,744 26,434: 755 2,065

: Percent of Open Interest Represented by Each Category of Trader :

: 8.6 13.5 31.3 32.1 46.3 22.9 4.7 94.8 95.9: 5.2 4.1

: Total Traders: 355 Number of Traders in Each Category :

: 93 80 107 99 105 45 22 288 268:

——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of September 09, 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 694,257

: Positions :

: 80,433 143,242 168,213 267,181 305,239 125,499 42,500 641,326 659,194: 52,931 35,062

: Changes from: September 2, 2025 (Change in open interest: 24,840) :

: 11,709 -2,430 8,538 -1,364 17,005 4,908 2,925 23,791 26,038: 1,049 -1,198

: Percent of Open Interest Represented by Each Category of Trader :

: 11.6 20.6 24.2 38.5 44.0 18.1 6.1 92.4 94.9: 7.6 5.1

: Total Traders: 371 Number of Traders in Each Category :

: 83 85 109 137 120 39 20 314 290:

——————————————————————————————————————-

PALM OIL AND CANOLA

General Comments: Palm Oil futures were higher last week and closed today for a holiday. Demand for export has been strong to start the month. There was talk that India will soon be buying a lot with festivals coming soon. Ideas that current increased production levels mean higher inventories in MPOB monthly data are still around. Canola was higher. Concerns remain about demand potential. The Canadian government is moving now to support farmers in the face of the Chinese demand loss and also in the face of the Trump tariffs. Trends are up on the daily charts and are turning up on the weekly charts.

Overnight News:

Chart Analysis: Trends in Canola are mixed. Support is at 610.00, 602.00, and 596.00 November, with resistance at 636.00, 653.00, and 661.00 November. Trends in Palm Oil are mixed to up. Support is at 4380, 4340, and 4300 November, with resistance at 4530, 4590, and 4650 November.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 9, 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 18,357 :

: Positions :

: 11,637 8,196 1,116 2,996 1,180 3,365 0 515 524 5,430 20 :

: Changes from: September 2, 2025 :

: -654 -14 0 -400 20 220 0 80 0 -20 0 :

: Percent of Open Interest Represented by Each Category of Trader :

: 63.4 44.6 6.1 16.3 6.4 18.3 0.0 2.8 2.9 29.6 0.1 :

: Number of Traders in Each Category Total Traders: 34 :

: 9 7 . 5 4 . 0 . . 9 . :

—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 9, 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 255,358 :

: Positions :

: 130,083 115,704 5,598 13,072 1,298 49,441 50,082 31,235 17,067 21,016 19,321 :

: Changes from: September 2, 2025 :

: 14,091 -3,964 1,960 203 321 -3,756 17,045 -1,918 452 -694 305 :

: Percent of Open Interest Represented by Each Category of Trader :

: 50.9 45.3 2.2 5.1 0.5 19.4 19.6 12.2 6.7 8.2 7.6 :

: Number of Traders in Each Category Total Traders: 367 :

: 54 114 . 6 4 40 50 26 34 104 47 :

—————————————————————————————————————-

DJ China Dalian Grain Futures Closing Prices, Volume – Sep 15

Soybean No. 1

Turnover: 126,933 lots, or 5.01 billion yuan

Open High Low Close Prev. Settle Ch. Vol Open

Settle Interest

Nov-25 3,958 3,961 3,926 3,939 3,956 3,942 -14 88,307 197,448

Jan-26 3,956 3,958 3,927 3,940 3,956 3,941 -15 31,225 109,353

Mar-26 3,965 3,965 3,933 3,947 3,963 3,943 -20 4,290 30,636

May-26 3,998 4,006 3,977 3,988 4,002 3,993 -9 1,172 6,209

Jul-26 4,008 4,010 3,979 3,992 4,006 3,992 -14 1,846 5,971

Sep-26 4,102 4,102 3,994 4,001 4,006 4,017 11 93 81

Corn

Turnover: 843,626 lots, or 18.36 billion yuan

Open High Low Close Prev. Settle Ch. Vol Open

Settle Interest

Nov-25 2,199 2,200 2,165 2,167 2,199 2,178 -21 637,412 835,212

Jan-26 2,170 2,170 2,154 2,156 2,169 2,159 -10 159,109 441,401

Mar-26 2,184 2,186 2,172 2,172 2,185 2,176 -9 23,249 184,096

May-26 2,239 2,240 2,226 2,229 2,238 2,232 -6 11,630 82,757

Jul-26 2,253 2,257 2,241 2,242 2,255 2,247 -8 12,071 27,447

Sep-26 2,260 2,268 2,255 2,255 2,255 2,258 3 155 104

Soymeal

Turnover: 1,894,407 lots, or 57.09 billion yuan

Open High Low Close Prev. Settle Ch. Vol Open

Settle Interest

Nov-25 3,052 3,052 3,002 3,013 3,057 3,022 -35 92,348 533,961

Dec-25 3,093 3,097 3,051 3,061 3,102 3,072 -30 10,531 141,435

Jan-26 3,080 3,083 3,032 3,042 3,087 3,051 -36 1,450,741 2,050,694

Mar-26 3,011 3,011 2,980 2,987 3,010 2,992 -18 56,567 356,212

May-26 2,816 2,823 2,800 2,804 2,815 2,810 -5 234,243 983,440

Jul-26 2,796 2,799 2,781 2,783 2,792 2,788 -4 19,650 143,494

Aug-26 2,920 2,926 2,906 2,910 2,916 2,915 -1 12,403 29,835

Sep-26 2,943 2,943 2,904 2,919 2,916 2,922 6 17,924 13,558

Palm Oil

Turnover: 618,553 lots, or 57.91 billion yuan

Open High Low Close Prev. Settle Ch. Vol Open

Settle Interest

Oct-25 9,290 9,380 9,252 9,362 9,270 9,310 40 9,988 7,068

Nov-25 9,300 9,396 9,278 9,372 9,298 9,332 34 2,710 12,070

Dec-25 9,318 9,414 9,304 9,396 9,318 9,348 30 624 1,405

Jan-26 9,336 9,442 9,318 9,422 9,342 9,370 28 583,281 433,353

Feb-26 9,288 9,368 9,288 9,368 9,288 9,298 10 34 1,493

Mar-26 9,262 9,360 9,250 9,360 9,262 9,280 18 47 654

Apr-26 9,180 9,254 9,180 9,254 9,204 9,218 14 7 82

May-26 9,092 9,196 9,084 9,174 9,106 9,132 26 21,674 81,483

Jun-26 9,014 9,076 9,014 9,076 9,030 9,042 12 18 79

Jul-26 8,938 8,986 8,908 8,980 8,932 8,958 26 46 168

Aug-26 8,850 8,920 8,844 8,920 8,872 8,884 12 30 54

Sep-26 8,840 8,936 8,840 8,866 8,872 8,862 -10 94 70

Soybean Oil

Turnover: 311,881 lots, or 25.95 billion yuan

Open High Low Close Prev. Settle Ch. Vol Open

Settle Interest

Nov-25 8,378 8,414 8,358 8,400 8,368 8,384 16 4,809 16,752

Dec-25 8,386 8,436 8,380 8,422 8,386 8,404 18 669 6,234

Jan-26 8,350 8,390 8,328 8,376 8,336 8,356 20 267,406 596,432

Mar-26 8,252 8,296 8,252 8,296 8,252 8,274 22 46 1,614

May-26 8,056 8,092 8,028 8,076 8,030 8,056 26 38,688 222,042

Jul-26 7,990 8,050 7,990 8,050 8,000 8,010 10 160 461

Aug-26 8,006 8,032 8,002 8,032 7,984 8,016 32 14 47

Sep-26 7,982 8,032 7,972 8,026 7,984 7,998 14 89 68

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.

DJ Malaysian PM Cash Market Prices for Palm Oil – March 28

The following are prices for Malaysian palm oil in the cash market at 1000 GMT Friday, 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

Apr 1135.00 +15.00 Unquoted – –

Apr/May/Jun 1092.50 +20.00 Unquoted – –

Jul/Aug/Sep 1012.50 +17.50 Unquoted – –

Oct/Nov/Dec 1002.50 +15.00 Unquoted – –

Jan/Feb/Mar 1007.50 +12.50 Unquoted – –

RBD palm olein, FOB, Malaysian ports

Offer Change Bid Change Traded

Apr 1140.00 +15.00 Unquoted – –

Apr/May/Jun 1097.50 +20.00 Unquoted – –

Jul/Aug/Sep 1017.50 +17.50 Unquoted – –

Oct/Nov/Dec 1007.50 +15.00 Unquoted – –

Jan/Feb/Mar 1012.50 +12.50 Unquoted – –

RBD palm stearin, FOB, Malaysian ports

Offer Change Bid Change Traded

Apr 1112.50 +20.00 Unquoted – –

Palm Fatty Acid Distillate, FOB Malaysian ports

Offer Change Bid Change Traded

Apr 1070.00 +15.00 Unquoted – –

Crude palm oil, Delivered Basis, South Malaysia

Offer Change Bid Change Traded

Apr 4,830.00 +70.00 Unquoted – –

Palm kernel oil, Delivered Basis, South Malaysia

Offer Change Bid Change Traded

Apr 494.00 +07.00 Unquoted – –

($1=MYR4.4363)

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