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Grains Report 09/13/19


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DJ CBOT Delivery Intentions: Totals – Sep 13
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL September Sep. 16, 2019 48 Sep 12, 2019
SOYBEAN OIL September Sep. 16, 2019 38 Sep 04, 2019
ROUGH RICE September Sep. 16, 2019 3 Sep 12, 2019
CORN September Sep. 16, 2019 123 Sep 12, 2019
KC HRW WHEAT September Sep. 16, 2019 5 Sep 12, 2019
SOYBEAN September Sep. 16, 2019 177 Sep 12, 2019
WHEAT September Sep. 16, 2019 55 Sep 04, 2019
DJ CBOT Delivery Intentions: Totals – Sep 12
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL September Sep. 13, 2019 54 Sep 10, 2019
SOYBEAN OIL September Sep. 13, 2019 45 Sep 04, 2019
ROUGH RICE September Sep. 13, 2019 15 Sep 10, 2019
CORN September Sep. 13, 2019 132 Sep 11, 2019
KC HRW WHEAT September Sep. 13, 2019 3 Sep 10, 2019
SOYBEAN September Sep. 13, 2019 508 Sep 11, 2019
WHEAT September Sep. 13, 2019 1 Sep 04, 2019

DJ USDA Report: Summary for U.S. Agriculture Supply, Demand Report
Following are key numbers from the USDA’s crop report Thursday and how the government’s estimates compared to analysts’ forecasts in a Wall Street Journal survey.
U.S. 2019 Production, Yield (million bushels, bushels per acre)
Thursday’s Average USDA
Estimates Forecast Range August
Corn Production 13,799.0 13,614 13,040-14,003 13,901
Soybean Production 3,633.0 3,596 3,499-3,745 3,680
Thursday’s Average USDA
Estimates Forecast Range August
Corn Yield 168.2 166.7 163.0-170.7 169.5
Soybean Yield 47.9 47.2 46.0-49.0 48.5
****
U.S. Stockpiles (million bushels)
2018-19
Thursday’s Average USDA
Estimates Forecast Range August
Corn 2,445 2,398 2,280-2,460 2,360
Soybeans 1,005 1,043 990-1,084 1,070
2019-20
Thursday’s Average USDA
Estimates Forecast Range August
Corn 2,190 1,965 1,570-2,269 2,181
Soybeans 640 661 565- 797 755
Wheat 1,014 1,014 909-1,037 1,014
****
World Stockpiles (million metric tons)
2018-19
Thursday’s Average USDA
Estimates Forecast Range August
Corn 329.6 329.6 327.0-332.3 328.6
Soybeans 112.4 114.1 113.0-115.9 114.5
Wheat 277.2 275.3 272.0-276.9 275.5
2019-20
Thursday’s Average USDA
Estimates Forecast Range August
Corn 306.3 301.8 292.7-307.0 307.7
Soybeans 99.2 101.6 97.0-119.0 101.7
Wheat 286.5 285.5 283.0-288.1 285.4

DJ USDA Supply/Demand: Crop Summary – Sep 12
U.S. ending stocks in million bushels, except soy oil 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
19/20 18/19 17/18: 19/20 18/19 17/18: 19/20 18/19 17/18
Soybeans 640.01,005.0 438.0:149.39 148.56 153.08:341.39 362.07 341.62
Brazil na na: 76.50 75.80 76.18:123.00 117.00 122.00
Argentina na na: 8.00 7.90 2.11: 53.00 55.30 37.80
China na na: 0.13 0.12 0.13: 17.10 15.90 15.28
Soyoil 1,485 1,725 1,995: 11.85 11.29 10.50: 57.25 56.03 55.18
Corn 2,190 2,445 2,140:169.90 176.20 148.57: 1,105 1,122 1,078
China na na: 0.02 0.02 0.02:254.00 257.33 259.07
Argentina na na: 33.50 36.00 22.00: 50.00 51.00 32.00
S.Africa na na: 1.50 1.00 2.07: 14.00 11.50 13.10
Cotton(a) 7.20 4.85 4.20: 43.34 41.15 41.39:124.90 119.05 123.78
All Wheat 1,014 1,072 1,099:180.83 172.66 182.09:765.53 730.84 762.26
China na na: 1.30 1.01 1.00:132.00 131.43 134.33
EU 27 na na: 27.50 23.31 23.29:151.00 136.86 151.13
Canada na na: 24.50 24.41 22.00: 33.30 32.20 30.38
Argentina na na: 14.50 12.30 12.66: 20.50 19.50 18.50
Australia na na: 10.50 9.00 13.85: 19.00 17.30 20.94
Russia na na: 34.00 35.85 41.42: 72.50 71.69 85.17
Ukraine na na: 19.50 16.02 17.78: 28.70 25.06 26.98
Sorghum 46.0 55.0 35.0: na na na
Barley 93.0 87.0 94.0: na na na
Oats 37.0 37.0 41.0: na na: na na na
Rice 35.8 44.9 29.4: 45.12 45.11 47.13:494.22 498.95 494.86

DJ Statistics Canada Crop Model-Based Production Report – Sep 12
WINNIPEG–Canada 2019/20 grain/oilseed September model-based
production estimates. Includes August survey-based estimates and year-ago
production for comparison. Source: Statistics Canada. Production in
thousand metric tons, yield in kg/hectare, area harvested in thousand
hectares.
Harvested indic Production
area yield 2019-20 2019-20 2018-19
SEP AUG FINAL
Model Survey
barley 2,700.7 3,698 9,987.3 9,643.7 8,379.7
edible beans 141.7 2,513 356.1 367.8 341.1
canary seed 57.9 1,389 80.4 69.9 117.8
canola 8,363.0 2,315 19,357.5 18,452.7 20,342.6
chickpeas 154.5 1,700 262.7 251.3 311.3
corn 1,463.1 9,644 14,109.7 13,606.1 13,884.8
faba beans 26.0 3,436 91.4 92.0 91.3
flaxseed 367.8 1,569 577.0 558.2 492.4
lentils 1,501.3 1,678 2,519.6 2,383.6 2,092.1
mixed grains 65.7 3,030 198.8 197.5 194.7
mustard 157.3 898 141.2 156.1 173.6
oats 1,158.0 3,467 4,015.5 3,952.6 3,436.0
dry peas 1,721.5 2,714 4,672.5 4,528.3 3,580.7
fall rye* 97.4 2,882 280.7 283.9 236.4
soybeans 2,293.8 2,827 6,485.3 6,203.5 7,266.6
sugar beets 15.9 71,757 1,140.8 1,141.2 1,376.7
sunflower seed 21.9 2,146 46.8 49.6 57.3
triticale 21.8 2,371 51.6 51.7 62.2
all wheat 9,775.6 3,324 32,491.0 31,251.2 32,201.1
durum wheat 1,928.5 2,592 4,997.8 4,419.5 5,744.8
spring wheat 7,474.8 3,445 25,752.3 25,108.0 23,942.4
winter wheat* 372.3 4,677 1,740.9 1,724.6 2,513.9
*Fall rye and winter wheat numbers represent what was remaining
after winterkill.
Source: Commodity News Service Canada (news@marketsfarm.com, or 204-414-
9084)

BRIEF-Brazil’s Conab raises 2018/19 corn export forecast to 35 mln T – Reuters
10-Sep-2019 07:04:44 AM
Sept 10 (Reuters) –
BRAZIL 2018/19 SOYBEAN EXPORTS SEEN AT 70 MILLION TNS VERSUS 70 MILLION TNS IN AUGUST FORECAST AND 83.257 MILLION TNS IN 2017/18 – CONAB
BRAZIL 2018/19 SOYBEAN CROP SEEN AT 115.030 MILLION TNS VERSUS 115.072 MILLION TNS IN AUGUST FORECAST AND 119.282 MILLION TNS IN 2017/18 – CONAB
BRAZIL 2018/19 TOTAL GRAIN CROP SEEN AT 242.138 MILLION TNS VERSUS 241.335 MILLION TNS IN AUGUST FORECAST AND 227.679 MILLION TNS IN 2017/18 – CONAB
BRAZIL 2018/19 TOTAL CORN CROP SEEN AT 99.984 MILLION TNS VERSUS 99.312 MILLION TNS IN AUGUST FORECAST AND 80.709 MILLION TNS IN 2017/18 – CONAB
BRAZIL 2018/19 CORN EXPORTS SEEN AT 35.000 MILLION TNS VERSUS 34.500 MILLION TNS IN AUGUST FORECAST
AND 23.820 MILLION TNS IN 2017/18 – CONAB
BRAZIL 2018/19 SOYBEAN YIELDS SEEN AT 3,206 KG/HA VERSUS 3,208 KG/HA IN AUGUST FORECAST AND 3,394 KG/HA IN 2017/18 – CONAB
BRAZIL 2018/19 TOTAL CORN YIELDS SEEN AT 5,715 KG/HA VERSUS 5,730 KG/HA IN AUGUST FORECAST AND 4,857 KG/HA IN 2017/18- CONAB

Alerts History
• 12-Sep-2019 02:41:10 PM – FARMERS ENROLLED 86.820 MLN ACRES CORN (VS 86.692 MLN ACRES REPORTED AUG. 22) IN U.S. CROP SUBSIDY PROGRAMS INCLUDING FAILED ACRES FOR 2019 AS OF SEPT. 4 – USDA
• 12-Sep-2019 02:41:10 PM – FARMERS ENROLLED 74.894 MLN ACRES SOYBEANS (VS 74.788 MLN ACRES REPORTED AUG. 22) IN U.S. CROP SUBSIDY PROGRAMS INCLUDING FAILED ACRES FOR 2019 AS OF SEPT. 4 – USDA
• 12-Sep-2019 02:41:11 PM – FARMERS ENROLLED 46.609 MLN ACRES WHEAT (VS 46.525 MLN ACRES REPORTED AUG. 22) IN U.S. CROP SUBSIDY PROGRAMS INCLUDING FAILED ACRES FOR 2019 AS OF SEPT. 4 – USDA
• 12-Sep-2019 02:41:11 PM – U.S. FARMERS REPORT PREVENTED PLANTINGS OF 11.414 MLN ACRES CORN (VS 11.395 MLN ACRES REPORTED AUG. 22) FOR 2019 AS OF SEPT. 4 – USDA
• 12-Sep-2019 02:41:11 PM – U.S. FARMERS REPORT PREVENTED PLANTINGS OF 4.460 MLN ACRES SOYBEANS (VS 4.452 MLN ACRES REPORTED AUG. 22) FOR 2019 AS OF SEPT. 4 – USDA
• 12-Sep-2019 02:41:11 PM – U.S. FARMERS REPORT PREVENTED PLANTINGS OF 2.215 MLN ACRES WHEAT (VS 2.215 MLN ACRES REPORTED AUG. 22) FOR 2019 AS OF SEPT. 4 – USDA

USDA updates farmer-reported U.S. crop planting totals for September – Reuters News
12-Sep-2019 03:12:42 PM
To view this story on Eikon, click here
CHICAGO, Sept 12 (Reuters) – Farmers participating in U.S. crop subsidy programs reported “prevented plantings” for Sept. 4 of 11.414 million acres of corn, 4.460 million acres of soybeans and 2.215 million acres of wheat, the U.S. Department of Agriculture (USDA) said on Thursday.
Producers enrolled in subsidy programs for Sept. 4 reported planted acreage, including failed acres, at 86.820 million acres of corn, 74.894 million acres of soybeans and 46.609 million acres of wheat.
Producers that enroll in several Farm Services Agency programs must submit to USDA an annual report regarding all cropland use on their farms. USDA uses the information as an element in its crop estimates, which cover all farms, not just those which participate in the farm program.
The following are comparisons of farmer-reported plantings as of Sept. 4. 2019; Aug. 22, 2019; Aug. 1, 2019, and Sept. 6, 2018, based on a survey of farms (all figures in thousands of acres):
U.S. grain and soy plantings
Prevented plantings
(thousands of acres)
Crop Sept 4, 2019 Aug 22, 2019 Aug 1, 2019 Sept 6, 2018
Corn 11,414 11,395 11,211 928
Soybeans 4,460 4,452 4,351 276
Wheat 2,215 2,215 2,209 372

U.S. plantings including failed acres
Crop Sept 4, 2019 Aug 22, 2019 Aug 1, 2019 Sept 6, 2018
Corn 86,820 86,692 85,871 86,115
Soybeans 74,894 74,788 74,005 87,347
Wheat 46,609 46,525 46,302 44,794

Alerts History
• 12-Sep-2019 11:52:11 AM – CHINESE IMPORTERS BUY AT LEAST 600,000 TONNES OF U.S. SOYBEANS FOR OCTOBER TO DECEMBER SHIPMENT FROM THE PACIFIC NORTHWEST – TRADERS

China buys at least 600,000 tonnes U.S. soybeans -traders – Reuters News
12-Sep-2019 11:57:52 AM
To view this story on Eikon, click here
CHICAGO, Sept 12 (Reuters) – Chinese importers bought at least 10 cargoes of U.S. soybeans on Thursday, or about 600,000 tonnes, for shipment from Pacific Northwest export terminals from October to December, two traders with direct knowledge of the deals said.
The deals, China’s first U.S. soybean purchases in a month and the largest since at least June, come ahead of U.S.-China trade talks the next month in Washington.
(Reporting by Karl Plume in Chicago
Editing by Chris Reese)

DJ China to Exclude U.S. Soybeans and Pork From Additional Tariffs
By Chao Deng
BEIJING–China said it wouldn’t impose additional tariffs on soybeans, pork and other agricultural goods from the U.S. in response to President Trump’s postponement of higher tariffs on some Chinese goods.
The official Xinhua News Agency said Friday that China would buy “a certain amount” of agricultural products from the U.S., and that the government would exempt such purchases from punitive tariffs. The Commerce Ministry and China’s economic development agency decided on the measures, the report said.
The U.S. and China are finding ways to break deadlocked trade talks before planned high-level negotiations next month. President Trump on Wednesday put off until Oct. 15 a tariff increase on about $250 billion in imports from China that had been set to take effect Oct. 1. China’s Commerce Ministry had said it welcomed Mr. Trump’s gesture,
In addition, Beijing is looking to narrow the scope of its negotiations with the U.S. to only trade matters, seeking to put thornier national-security issues on a separate track, The Wall Street Journal reported.

DJ USDA Says 204,000 Tons Of Soybeans Sold To China In 2019-20
WASHINGTON, (Dow Jones)–Private exporters reported to the
U.S. Department of Agriculture export sales of 204,000 metric
tons of soybeans for delivery to China during the 2019/2020
marketing year
The marketing year for soybeans began September 1.
USDA issues both daily and weekly export sales to the public. U.S. exporters
are required to report to USDA any export sales activity of 100,000 metric
tons or more of one commodity made in one day. Sales totaling 200,000 tons
or more in any reporting period, except soybean oil, made in one day to one
destination, must be reported by 3:00 p.m. eastern time on the next business
day. Export sales of less than these quantities must be reported to USDA on
a weekly basis.

WHEAT
General Comments: Wheat markets were a little higher yesterday as USDA made no changes to domestic supply and demand forecasts and only limited changes to the world data. Much of the rally came in sympathy with Corn and Soybeans, but Wheat did enjoy a relatively strong export sales report and demand ideas are starting to improve in the market. Trends are up in SRW but are still mixed in the other markets. Demand has shown up at current levels and there is now talk that Wheat prices are finally cheap enough. The US Dollar remains very strong and that is hurting the ability of US exporters to sell Wheat. Saudi Arabia tendered for Wheat last week and released the results yesterday but did not show origins. Ideas are that the Wheat will be sourced from Russia and Europe. The US Winter Wheat harvest is over and the Spring Wheat harvests in the US and Canada are moving along. September can often be a month when Wheat futures bottom out but it is hard to make a case for a big rally as the US must try to compete with other world sellers for business and against Corn and other feed grains for business inside the US.
Overnight News: The southern Great Plains should get mostly dry conditions. Temperatures should be near to above normal. Northern areas should see scattered showers this week. Temperatures should be near normal. The Canadian Prairies should see mostly dry weather. Temperatures should be variable.
Chart Analysis: Trends in Chicago are up with objectives of 487, 492, and 502 December. Support is at 475, 469, and 467 December, with resistance at 486, 496, and 498 December. Trends in Kansas City are mixed. Support is at 395, 390, and 389 December, with resistance at 404, 406, and 408 December. Trends in Minneapolis are mixed to up with objectives of 517, 522, and 535 December. Support is at 499, 492, and 487 December, and resistance is at 511, 514, and 518 December.

RICE
General Comments: Rice closed a little higher again yesterday and chart trends are up on the daily charts. USDA cut planted area in a dramatic way yesterday to show significantly less production. It trimmed yield potential as well, but the big changes were in the area. Demand was cut back to match the reduced production, but ending stocks were still significantly lower. Most of the changes came in Long Grain. Changes to Medium and Short Grain were not real big and were not real bullish. The futures market still has a chance to rally more based on these estimates. Field yield reports from Texas and Louisiana are less than last year in all cases and average to below average. Initial harvesting is now taking place in Mississippi, Missouri, and Arkansas. Ideas are that field yields will be less in these states as well. Milling quality is said to be good to very good at this point in the harvest. Smut has been reported in Texas away from Houston, but the smut has not affected the milling quality so far.
Overnight News: The Delta should get mostly dry conditions. Temperatures should be above normal.
Chart Analysis: Trends are up with objectives of 1231 November. Support is at 1200, 1195, and 1184 November, with resistance at 1224, 1233, and 1252 November.

CORN AND OATS
General Comments: Corn closed higher in sympathy with the big rally in Soybeans. The USDA reports were a little bearish for the market as production and yields were trimmed but not as much as the trade had expected. Ending stocks for the coming year were higher than the average trade guess. There is a good chance that USDA will need to lower yields more once it sees more mature ears of Corn and also a good chance harvested area will be less due to all of the weather problems this Spring. Current weather forecasts are now calling for moderate to above normal temperatures for the next couple of weeks and this weather would be beneficial to crop development. Traders are said to think that there will be more than enough Corn for any demand. Demand ideas remain bad with no one looking for much improvement in the short-term. The weekly export sales reports have been weaker and show that there is strong competition for sales. Domestic demand ideas remain bad after the president gave smaller oil refineries waivers from using bio fuels including ethanol. The move got the agricultural community very upset and the president is now being forced to find alternative demand for the products. The administration is trying to pressure bio fuels companies into taking an increased mandate that would replace some of the lost demand. That has proven difficult so far. Feed demand has been week for the last year as feeders look for other grains such as Wheat.
Overnight News:
Chart Analysis: Trends in Corn are mixed to up with objectives of 373 and 383 December. Support is at 363, 357, and 353 December, and resistance is at 368, 370, and 377 December. Trends in Oats are up with objectives of 288 December. Support is at 277, 275, and 274 December, and resistance is at 285, 289, and 291 December.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and products were sharply higher in reaction to news that China made a big purchase of US Soybeans before the trade talks resume. They are reported to have bought 600,000 tons and tht is the biggest purchase in a long time. The USDA reports were not bullish as yields and production estimates were above trade expectations. Ending stocks were less than trade expectations but mostly because carry in stocks from the marketing year just ended were less. Current weather outlooks call for moderate to above normal temperatures for the next two weeks, and this is great for Soybeans as the crop needs all the time it can get to finish developing after the very late start to the planting season this year. The weather has been cool and is not pushing Soybeans or Corn to maturity, but this could change if the extended forecasts come to fruition. Analysts will concentrate on the USDA pod counts in this report. Producers and the Pro Farmer Crop Tour participants noted that pod counts were down sharply this year, so the traders will look to USDA to confirmed the reduced counts
Overnight News:
Chart Analysis: Trends in Soybeans are up with objectives of 907, 927, and 955 November. Support is at 882, 879, and 875 November, and resistance is at 897, 902, and 909 November. Trends in Soybean Meal are mixed to up with objectives of 303.00 and 311.00 October. Support is at 295.00, 291.00, and 289.00 October, and resistance is at 298.00, 300.00, and 302.00 October. Trends in Soybean Oil are mixed to up with objectives of 3940 and 3030 October. Support is at 2850, 2800, and 2770 October, with resistance at 2910, 2960, and 3000 October.

CANOLA AND PALM OIL
General Comments: Canola was higher yesterday in sympathy with the price action in Chicago and on hopes China will buy Canola as well as Soybeans. Reports indicate that the harvest is making good progress now. There has not been a frost or freeze yet to hurt the seed. Reports from the field indicate good yields. Palm Oil was near unchanged. The market appears to be in a short-term and shallow correction now. Export data from the private sources has been lower so far this month. The market still expects limited upside potential, but the charts show that the market still has potential to move higher over time. There are ideas that there is plenty of production and supply to meet any expected demand. Stocks in Indonesia have increased for four straight months.
Overnight News: AmSpec said that Malaysian Palm Oil exports so far this month are 393,129 tons, down 23.2% from last month. SGS said that exports are now 337,570 tons so far this month, down 29% from last month.
Chart Analysis: Trends in Canola are mixed. Support is at 445.00, 441.00, and 437.00 November, with resistance at 448.00, 450.00, and 453.00 November. Trends in Palm Oil are mixed to down with objectives of 2140 and 2090 November. Support is at 2160, 2150, and 2120 November, with resistance at 2240, 2260, and 2270 November.

DJ Canadian Grain Handling Summary – Sep 13
WINNIPEG–The following are Canadian grain handling summary statistics
for the week ended Sept. 8, 2019. Figures in thousands of metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This Week 1591.1 624.3 177.8 276.0 17.1 817.1 435.5 63.7 4428.3
Week Ago 1793.3 677.2 176.5 260.1 16.2 825.0 383.0 71.5 4621.9
Year Ago 2646.1 772.2 257.4 336.3 44.3 712.6 464.6 227.9 5918.7
PRODUCER DELIVERIES
This Week 237.8 69.3 59.3 95.2 1.7 212.5 212.0 3.3 939.2
Week Ago 223.7 55.3 62.2 84.1 1.2 263.4 173.8 8.5 966.2
To Date 1316.9 309.3 241.0 252.1 8.3 1464.8 659.7 46.9 4624.7
Year Ago 2045.2 351.3 263.0 300.0 15.5 1113.3 532.6 79.6 4940.3
TERMINAL RECEIPTS
This Week 344.9 70.5 8.6 24.8 0.0 87.9 82.8 0.1 678.9
Week Ago 348.4 115.3 1.3 1.2 0.0 141.9 44.1 0.1 702.2
To Date 1895.4 581.8 28.5 43.0 0.1 910.0 242.6 3.3 4072.8
Year Ago 2291.7 384.4 66.7 57.0 20.7 540.0 158.3 82.5 3786.5
EXPORTS
This Week 391.0 121.0 37.0 0.5 0.4 108.6 59.5 0.0 752.1
Week Ago 218.0 119.1 19.5 0.6 0.7 215.9 60.3 0.0 713.8
To Date 1628.8 495.5 109.4 32.3 6.5 867.4 213.3 12.5 3774.9
Year Ago 1679.5 274.8 146.8 83.5 38.6 585.0 70.2 164.0 3208.9
DOMESTIC DISAPPEARANCE
This Week 40.2 2.2 4.5 24.9 1.0 186.6 2.9 9.8 292.5
Week Ago 46.0 3.2 5.2 22.4 0.4 199.2 3.4 22.8 320.9
To Date 348.9 26.1 29.9 129.5 4.0 1041.5 15.5 102.9 1827.3
Year Ago 344.5 26.7 28.2 107.4 3.4 772.8 18.8 121.1 1534.5
*Totals include data from other crops not shown including rye, soybeans,
canary seed, mustard seed, beans, lentils and chickpeas.
Source: Commodity News Service Canada (news@marketsfarm.com, or 204-414-9084)

DJ Malaysia’s August Palm Oil Exports 1.73M Tons; Up 16% -MPOB
Malaysia’s palm oil exports were up 16% on month at 1.73 million metric tons in August, the Malaysian Palm Oil Board said.
The following are details of the August crop data and revised numbers for July, issued by MPOB:
August July Change
On Month
Crude Palm Oil Output 1,821,548 1,740,759 Up 4.64%
Palm Oil Exports 1,732,888 1,489,171 Up 16.37%
Palm Kernel Oil Exports 86,696 86,865 Dn 0.19%
Closing Stocks 2,251,831 2,378,099 Dn 5.31%
Crude Palm Oil 1,290,565 1,338,126 Dn 3.55%
Processed Palm Oil 961,266 1,039,973 Dn 7.57%

Midwest Weather Forecast: Mostly dry this week in the south but showers and storms in the north. Dry all areas this weekend Temperatures should be near to above normal.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
September +32 Dec +155 Dec +70 Sep +12 Nov +12 Oct N/A
October +37 Dec +80 Dec +14 Nov
November +43 Dec +80 Dec +24 Nov
All basis levels are positive unless noted as negative

DJ ICE Canada Cash Grain Close – Sep 10
WINNIPEG — The following are the closing cash
canola prices from ICE Futures.
Source: ICE Futures
Price Basis Change
CANOLA
*Par Region 419.80 -20.00 dn 3.00
Basis: Thunder Bay 449.40 10.00 dn 0.40
Basis: Vancouver 456.40 17.00 dn 0.40
All prices in Canadian dollars per metric tonne.
*Quote for previous day
Source: Commodity News Service Canada
(news@marketsfarm.com, or 204-414-9084)

DJ Malaysian PM Cash Market Prices for Palm Oil – September 13
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
Sep 537.50 0.00 Unquoted – –
Oct 537.50 0.00 Unquoted – –
Nov 540.00 -02.50 Unquoted – –
Dec 542.50 -02.50 Unquoted – –
Jan/Feb/Mar 562.50 0.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Sep 540.00 0.00 Unquoted – –
Oct 540.00 0.00 Unquoted – –
Nov 542.50 -02.50 Unquoted – –
Dec 545.00 -02.50 Unquoted – –
Jan/Feb/Mar 565.00 0.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Sep 547.50 -02.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Sep 450.00 0.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sep 2,130 -10.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sep 141.00 -01.00 Unquoted – –
($1=MYR4.1640)



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About the author


Jack Scoville is a futures market analyst specializing in grains, softs, rice, oilseeds, and tropical products such as coffee and sugar.

He offers brokerage services to an international clientele of agricultural producers, processors, exporters, and other professional traders.

Jack writes daily comments of the many products he specializes in, in three languages, English, Spanish, and Portuguese.

He has been quoted by most major wire services including Dow Jones, AP, and Reuters. His comments have also appeared in newspapers around the world and on various radio and television shows.

Jack offers a dedicated and high quality service for his clients. His industry contacts in South America, Europe, Asia, and North America provide him with a unique view of the markets. He also uses his own charting program for technical traders.

Jack began working in the futures industry over 30 years ago and spent 10 years working on the floor of the Chicago Board of Trade in various roles. He has been a broker off the floor since then and has been with The PRICE Futures Group since it was established in 1988.

Contact Jack Scoville: (800) 769-7021 or at jscoville@pricegroup.com

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