About The Author

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

DJ USDA Report: Recap for U.S. Grain Stocks, Small Grains
  The following table of analysts’ estimates is provided as a service to The Wall Street Journal subscribers in conjunction with the U.S. Department of Agriculture’s Grain Stocks and Small Grains reports scheduled for release at noon ET on Tuesday.
U.S. Stockpiles on Sept. 1, 2025 (million bushels)        USDA         USDA
                            Average       Range        June 2025    Sept. 2024
Corn                          1,336    1,260-1,450         4,644         1,763
Soybeans                        322      295-347           1,008           342
Wheat                         2,041    1,954-2,090           851         1,992
***
2025 Wheat Production
                                                        USDA        USDA
                             Average       Range       August       2024
All Wheat                     1,925     1,898-1,970     1,927      1,971
Winter Wheat                  1,343     1,245-1,375     1,355      1,349
Hard Red Winter                 768       758-781         769        770
Soft Red Winter                 349       335-475         339        342
White Winter                    256       235-368         247        236
Other Spring                    484       470-506         484        542
Durum                            85        79-89           87         80
WHEAT
General Comments:   Wheat closed a little lower last week despite a solid weekly export sales report.  Traders continue to monitor world wheat prices and think the US needs cheaper prices to compete.  Russian sources told wire services that producers there are set to reduce offers and production due to low prices and problems with the government.  It remains too dry in Winter Wheat areas and too wet in Spring Wheat areas of Russia, but crop size ideas are expected to increase due to reports of big yields in Spring Wheat growing areas.  A French government report showed plenty of production but lower quality.  Rains have been good in the northern Great Plains and Canada, but western areas have been a little too dry for best yield potential and the northern Plains had hot and dry areas earlier in the year.  Southern hemisphere crops appear to be good and Australia estimates that production this year will be high and potentially a record.
Overnight News:
Chart Analysis: Trends in Chicago are mixed.  Support is at 505, 499 and 493 December, with resistance at 532, 535, and 543 December.  Trends in Kansas City are mixed.  Support is at 496, 490, and 484 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 23, 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   517,858
    : Positions                                                                               :
    :   80,944   180,608   160,142   118,173    76,845   122,962    67,112   482,222   484,707:   35,636    33,151
    : Changes from: September 16, 2025         (Change in open interest:       9,307)         :
    :    4,044    11,540     2,609     2,503    -7,861    -1,320     3,704     7,837     9,993:    1,470      -686
    : Percent of Open Interest Represented by Each Category of Trader                         :
    :     15.6      34.9      30.9      22.8      14.8      23.7      13.0      93.1      93.6:      6.9       6.4
    : Total Traders:   425          Number of Traders in Each Category                        :
    :      108       122       126       114        96        44        29       337       310:
——————————————————————————————————————-
COT — Supplemental Report – Option and Futures Combined Positions as of September 23, 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   324,291
    : Positions                                                                               :
    :   42,347    99,318    81,286    78,277    89,041   102,083    35,215   303,993   304,860:   20,298    19,431
    : Changes from: September 16, 2025         (Change in open interest:       3,008)         :
    :   -2,124     3,407       696     5,235    -1,165      -247       135     3,561     3,073:     -553       -65
    : Percent of Open Interest Represented by Each Category of Trader                         :
    :     13.1      30.6      25.1      24.1      27.5      31.5      10.9      93.7      94.0:      6.3       6.0
    : Total Traders:   277          Number of Traders in Each Category                        :
    :       51        75        73        84        77        36        19       211       207:
——————————————————————————————————————-
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 23, 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    73,944                :
: Positions                                                                                                    :
:   43,463    22,748     2,862     1,107       303     8,186    34,539     2,525     4,848     1,300     2,638 :
: Changes from:     September 16, 2025                                                                         :
:      927      -660      -339        46        74       310       831        12      -538       190       175 :
: Percent of Open Interest Represented by Each Category of Trader                                              :
:     58.8      30.8       3.9       1.5       0.4      11.1      46.7       3.4       6.6       1.8       3.6 :
: Number of Traders in Each Category                                  Total Traders:   118                     :
:       49        37         5         .         .         9        24        10         8         7         8 :
—————————————————————————————————————-
RICE:
General Comments   Rice was lower in quiet trading last week.  The market remained in a trading range.  The harvest is wrapping up in Texas and southern Louisiana.  Harvest is active in Mississippi and Arkansas.  Chart trends are mixed 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.
Overnight News:
Chart Analysis: Trends are mixed.  Support is at 1112, 1100, and 1088 November and resistance is at 1168, 1181, and 1201 November.
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 23, 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    12,969                :
: Positions                                                                                                    :
:    6,424     1,700       189       157         0       301     6,411         0     1,760     1,216     1,268 :
: Changes from:     September 16, 2025                                                                         :
:       15      -171         0         1         0        15        44       -54       -27       116       105 :
: Percent of Open Interest Represented by Each Category of Trader                                              :
:     49.5      13.1       1.5       1.2       0.0       2.3      49.4       0.0      13.6       9.4       9.8 :
: Number of Traders in Each Category                                  Total Traders:    69                     :
:       18        13         .         .         0         .        19         0         9         9         6 :
—————————————————————————————————————-
CORN AND OATS
General Comments: Corn was a little lower last week as the coming harvest outweighed a strong week of export sales reported by USDA.  Trends are mixed as the crop is maturing and the harvest is starting to expand.  There are 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 below normal this week and there are forecasts for scattered showers.  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.
Overnight News:  Mexico bought 135,660 tons off US Corn and unknown destinations bought 110,668 tons of US Corn.
Chart Analysis:  Trends in Corn are mixed to down.  Support is at 417, 414, and 411 December, and resistance is at 431, 434, and 442 December.  Trends in Oats are down.  Support is at 301, 295, and 289 December, and resistance is at 316, 320, and 324 December.
COT — Supplemental Report – Option and Futures Combined Positions as of September 23, 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 2,040,300
    : Positions                                                                               :
    :  125,371   337,184   652,998   662,037   703,875   424,074   138,032 1,864,479 1,832,089:  175,821   208,211
    : Changes from: September 16, 2025         (Change in open interest:      24,385)         :
    :   -1,048     3,353     8,519    27,634    13,317   -16,775    -3,196    18,330    21,993:    6,056     2,393
    : Percent of Open Interest Represented by Each Category of Trader                         :
    :      6.1      16.5      32.0      32.4      34.5      20.8       6.8      91.4      89.8:      8.6      10.2
    : Total Traders:   848          Number of Traders in Each Category                        :
    :      123       186       205       380       381        50        26       686       684:
——————————————————————————————————————-
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 23, 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     5,270                :
: Positions                                                                                                    :
:    1,296     2,131         0       112         0         0     1,170         0     1,561       185       167 :
: Changes from:     September 16, 2025                                                                         :
:      376       245         0         4         0         0       194         0       120        23       107 :
: Percent of Open Interest Represented by Each Category of Trader                                              :
:     24.6      40.4       0.0       2.1       0.0       0.0      22.2       0.0      29.6       3.5       3.2 :
: Number of Traders in Each Category                                  Total Traders:    29                     :
:        8         7         0         .         0         0         4         0        10         .         4 :
—————————————————————————————————————-
SOYBEANS
General Comments: Soybeans and the products were lower last week.  The weekly export sales report was not strong.  There are still no indications that China was changing its trade policies and on forecasts for no rain to be seen in the Midwest this week.  Cool and dry weather has been seen recently in the Midwest.  The dry weather could hurt pod fill and bean size.  Argentina has removed taxes on Soybeans exports and China immediately bought up to 40 cargoes.  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 due to the Trump tariff regime.
Overnight News:
Analysis:  Trends in Soybeans are down.  Support is at 1002, 995, and 981 November, and resistance is at 1024, 1029, and  1036 November.  Trends in Soybean Meal are mixed to down.  Support is at 266.00, 263.00, and 260.00 October, and resistance is at 272.00, 277.00, and 279.00 October.  Trends in Soybean Oil are down.  Support is at 4840, 4740, and 4680 October, with resistance at 5070, 5110, and 5170 October.
COT — Supplemental Report – Option and Futures Combined Positions as of September 23, 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 1,211,371
    : Positions                                                                               :
    :   62,458   149,945   357,502   494,541   562,881   232,854    59,973 1,147,355 1,130,301:   64,016    81,070
    : Changes from: September 16, 2025         (Change in open interest:      89,924)         :
    :   -9,559    20,788    52,839    45,118     7,624    -1,823     2,835    86,574    84,085:    3,350     5,839
    : Percent of Open Interest Represented by Each Category of Trader                         :
    :      5.2      12.4      29.5      40.8      46.5      19.2       5.0      94.7      93.3:      5.3       6.7
    : Total Traders:   653          Number of Traders in Each Category                        :
    :      130       168       197       245       257        48        24       544       541:
——————————————————————————————————————-
COT — Supplemental Report – Option and Futures Combined Positions as of September 23, 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   726,878
    : Positions                                                                               :
    :   56,123   100,334   229,888   242,482   330,677   163,991    35,396   692,484   696,296:   34,394    30,582
    : Changes from: September 16, 2025         (Change in open interest:      -3,526)         :
    :   -7,040    15,206      -844    16,947   -13,044    -9,204    -5,809      -141    -4,491:   -3,385       965
    : Percent of Open Interest Represented by Each Category of Trader                         :
    :      7.7      13.8      31.6      33.4      45.5      22.6       4.9      95.3      95.8:      4.7       4.2
    : Total Traders:   356          Number of Traders in Each Category                        :
    :       79        94       117       100       105        43        21       286       279:
——————————————————————————————————————-
COT — Supplemental Report – Option and Futures Combined Positions as of September 23, 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   749,986
    : Positions                                                                               :
    :   75,350   158,126   202,485   294,798   302,877   124,026    48,792   696,659   712,280:   53,327    37,706
    : Changes from: September 16, 2025         (Change in open interest:      36,260)         :
    :   -1,958    16,826    24,186    18,526    -9,417    -4,503     1,396    36,251    32,991:        8     3,269
    : Percent of Open Interest Represented by Each Category of Trader                         :
    :     10.0      21.1      27.0      39.3      40.4      16.5       6.5      92.9      95.0:      7.1       5.0
    : Total Traders:   381          Number of Traders in Each Category                        :
    :       77        93       108       141       120        38        22       315       295:
——————————————————————————————————————-
PALM OIL AND CANOLA
General Comments:   Palm Oil futures were lower last week with the price action in Chicago and despite ideas of weaker production and strong export demand.  Futures were also lower today.  Canola was a little lower with Chicago Soybean Oil and on harvest selling.  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 mixed to down on the daily charts and on the weekly charts.
Overnight News:
Chart Analysis: Trends in Canola are down.  Support is at 602.00, 596.00, and 590.00 November, with resistance at 630.00, 640.00, and 653.00 November.  Trends in Palm Oil are mixed to down.  Support is at 4390, 4320, and 4200 December, with resistance at 4480, 4530, and 4580 December.
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 23, 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    20,606                :
: Positions                                                                                                    :
:   13,446    12,085     1,276     2,396     1,180     3,605         0       515       544     4,370        40 :
: Changes from:     September 16, 2025                                                                         :
:    2,029     3,309       160      -200         0        80         0         0        20      -820        20 :
: Percent of Open Interest Represented by Each Category of Trader                                              :
:     65.3      58.6       6.2      11.6       5.7      17.5       0.0       2.5       2.6      21.2       0.2 :
: Number of Traders in Each Category                                  Total Traders:    32                     :
:        9         8         .         5         4         .         0         .         .         6         . :
—————————————————————————————————————-
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of September 23, 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   269,418                :
: Positions                                                                                                    :
:  145,844   132,786     6,689    11,031     1,992    49,328    53,429    29,374    18,973    20,919    16,157 :
: Changes from:     September 16, 2025                                                                         :
:    9,675     1,023     1,769     1,190       -36    -2,259     5,413    -1,890    -1,054       188      -748 :
: Percent of Open Interest Represented by Each Category of Trader                                              :
:     54.1      49.3       2.5       4.1       0.7      18.3      19.8      10.9       7.0       7.8       6.0 :
: Number of Traders in Each Category                                  Total Traders:   362                     :
:       50       109         .         7         5        36        52        27        35       107        39 :
—————————————————————————————————————-
DJ Malaysian PM Cash Market Prices for Palm Oil – Sep 29
  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.
              Offer      Change      Bid        Change   Traded
Oct           1067.50    -02.50      Unquoted   –        –
Nov           1080.00     00.00      Unquoted   –        –
Dec           1087.50     00.00      Unquoted   –        –
Jan/Feb/Mar   1090.00     00.00      Unquoted   –        –
Apr/May/Jun   1075.00    +02.50      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Oct           1072.50    -02.50      Unquoted   –        –
Nov           1085.00     00.00      Unquoted   –        –
Dec           1092.50     00.00      Unquoted   –        –
Jan/Feb/Mar   1095.00     00.00      Unquoted   –        –
Apr/May/Jun   1080.00    +02.50      Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Oct           1060.00    +05.00      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Oct           1025.00     00.00      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
              Offer      Change      Bid        Change   Traded
Oct           4,350.00   -10.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
              Offer      Change      Bid        Change   Traded
Oct           474.00      00.00        Unquoted   –        –
($1=MYR4.213)
DJ China Dalian Grain Futures Closing Prices, Volume – Sep 29
Soybean No. 1
Turnover: 160,513 lots, or .63 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Nov-25     3,939     3,945     3,917     3,938     3,940     3,931        -9   112,252   161,800
Jan-26     3,906     3,914     3,888     3,895     3,918     3,897       -21    40,654   122,815
Mar-26     3,904     3,913     3,889     3,897     3,922     3,897       -25     4,850    34,133
May-26     3,935     3,944     3,921     3,926     3,951     3,929       -22     1,078     8,825
Jul-26     3,931     3,941     3,919     3,926     3,945     3,927       -18     1,542     8,991
Sep-26     3,928     3,945     3,923     3,932     3,948     3,932       -16       137     1,014
Corn
Turnover: 851,383 lots, or 18.42 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Nov-25     2,178     2,187     2,155     2,159     2,176     2,171        -5   557,756   640,186
Jan-26     2,140     2,146     2,128     2,135     2,137     2,137         0   207,471   544,713
Mar-26     2,150     2,157     2,142     2,149     2,146     2,150         4    42,325   261,880
May-26     2,203     2,212     2,198     2,203     2,203     2,206         3    29,216   103,043
Jul-26     2,216     2,220     2,210     2,213     2,213     2,216         3    14,196    48,596
Sep-26     2,231     2,234     2,226     2,227     2,228     2,230         2       419     2,069
Soymeal
Turnover: 1,138,409 lots, or 3.31 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol        Open
                                                  Settle                                  Interest
Nov-25     2,906     2,922     2,893     2,906     2,916     2,906       -10    91,030     428,177
Dec-25     2,951     2,963     2,935     2,943     2,960     2,945       -15     7,748     139,162
Jan-26     2,938     2,952     2,926     2,933     2,949     2,937       -12   817,240   1,925,537
Mar-26     2,918     2,923     2,903     2,906     2,921     2,913        -8    46,537     364,647
May-26     2,753     2,755     2,739     2,743     2,755     2,749        -6   150,302   1,017,511
Jul-26     2,739     2,742     2,725     2,728     2,744     2,735        -9    15,932     134,680
Aug-26     2,858     2,858     2,845     2,848     2,860     2,854        -6     3,613      29,700
Sep-26     2,858     2,862     2,849     2,852     2,863     2,857        -6     6,007      45,368
Palm Oil
Turnover: 480,901 lots, or 4.44 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Oct-25     9,126     9,138     9,056     9,114     9,126     9,102       -24        84       228
Nov-25     9,168     9,230     9,152     9,186     9,208     9,188       -20     5,851    15,454
Dec-25     9,194     9,244     9,162     9,202     9,232     9,204       -28     1,100     2,138
Jan-26     9,236     9,280     9,188     9,234     9,266     9,234       -32   444,366   353,461
Feb-26     9,216     9,248     9,198     9,218     9,218     9,224         6        13     1,245
Mar-26     9,188     9,238     9,154     9,202     9,160     9,196        36        87       834
Apr-26     9,150     9,174     9,136     9,152     9,154     9,152        -2       258       341
May-26     9,060     9,096     9,018     9,060     9,076     9,056       -20    28,916    91,396
Jun-26     8,986     8,994     8,938     8,938     8,978     8,978         0         4       114
Jul-26     8,888     8,898     8,844     8,844     8,876     8,880         4        10       165
Aug-26     8,768     8,782     8,760     8,768     8,776     8,770        -6         8        59
Sep-26     8,676     8,706     8,648     8,688     8,686     8,676       -10       204       603
Soybean Oil
Turnover: 286,385 lots, or 23.26 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Nov-25     8,160     8,194     8,138     8,158     8,202     8,166       -36     4,790    12,069
Dec-25     8,202     8,240     8,186     8,204     8,248     8,210       -38       850     7,525
Jan-26     8,150     8,184     8,128     8,150     8,192     8,154       -38   236,751   528,401
Mar-26     8,112     8,134     8,094     8,108     8,140     8,114       -26        50     1,661
May-26     7,932     7,974     7,902     7,912     7,946     7,932       -14    43,180   222,723
Jul-26     7,888     7,930     7,862     7,864     7,908     7,882       -26       195       718
Aug-26     7,884     7,922     7,858     7,866     7,896     7,878       -18        13        71
Sep-26     7,850     7,898     7,842     7,854     7,876     7,858       -18       556       912
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