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DJ CBOT Delivery Intentions: Totals – Dec 10
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL December Dec 11, 2020 115 Nov 18, 2020
SOYBEAN OIL December Dec 11, 2020 432 Nov 24, 2020
WHEAT December Dec 11, 2020 7 Dec 04, 2020
This content was published based on data and/or text from the original source. For feedback, write to csstat@dowjones.com.

DJ U.S. Export Sales: Weekly Sales Totals – Dec 10
For the week ended Dec 3, in thousand metric tons, except cotton in
thousand running bales. Net changes in commitments are goss sales,
less cancellations, buy-backs and other downward adjustments. Total
commitments are total export shipments plus total sales.
The marketing year for wheat and barley began Jun 1, cotton and
and rice Aug 1, corn, soybeans and sorghum Sep 1, and soymeal and
soyoil Oct 1. Source: USDA
wk’s net chg total
in commitments commitments undlvd sales
this yr next yr this yr last yr this yr next yr
wheat 616.5 0.0 19108.4 16958.1 6184.2 187.0
hrw 257.2 0.0 6737.1 6206.0 1595.7 22.0
srw 29.3 0.0 1423.5 1980.4 400.7 100.0
hrs 127.5 0.0 5243.0 4771.5 1475.3 45.0
white 181.7 0.0 5118.7 3320.5 2559.4 20.0
durum 20.9 0.0 586.2 679.7 153.1 0.0
corn 1362.2 0.0 39655.3 15489.1 28567.5 747.0
soybeans 569.0 168.0 52906.6 26994.5 23088.9 237.0
soymeal 163.6 0.0 5264.8 5222.6 3132.1 18.1
soyoil 8.4 0.0 398.4 362.2 247.0 0.6
upland cotton 403.0 48.0 10269.0 10843.7 5813.7 699.9
pima cotton 13.0 0.0 499.9 299.7 222.5 0.7
sorghum 123.0 0.0 4654.2 959.5 3376.8 327.0
barley 0.0 0.0 42.8 58.7 28.9 0.0
rice 66.0 0.0 1524.6 2004.8 582.8 0.0

DJ Brazil Cuts 2020-2021 Soybean, Corn Crop Forecasts on Irregular, Scant Rains
By Jeffrey T. Lewis
SAO PAULO–Brazilian crop agency Conab cut its forecasts for soybean and corn production for the 2020-2021 growing season as dry weather in different parts of the country affected productivity.
Brazilian farmers will produce 134.5 million metric tons of soybeans this season, which would still be a record crop, the agency said Thursday. In November, the agency forecast a crop of 135 million tons. Brazil produced 124.8 million tons of soybeans in 2019-2020, the previous record for the country’s soybean crop.
Uneven or scant rain in soybean- and corn-growing parts of the country left the soil dry in many areas, delaying planting in some places and reducing crop yields, the agency said. Precipitation is forecast to resume more normal patterns going forward, which should help reduce the impact of the dry weather.
Conab trimmed its forecast for productivity for soybeans by 0.2% from its November bulletin, and reduced its forecast for corn productivity by 2.2%.
Conab cut its forecast for the 2020-2021 total corn crop to 102.6 million metric tons, which would just barely surpass the previous record for production of 102.5 million tons set in 2019-2020. In November, Conab had forecast a total corn crop of 104.9 million tons.
Write to Jeffrey T. Lewis at jeffrey.lewis@wwj.com

WHEAT
General Comments: Wheat markets were higher as traders prepared for the WASDE reports that will be released later this morning. World prices have held steady with additional supplies available to the market as Russian prices remain elevated. Australian supplies have increased as its harvest is moving forward to keep world prices in check. US weather is still mixed with still dry conditions in the western Great Plains but good conditions in the Midwest. Parts of eastern Ukraine and southern Russia are getting some showers too but important growing areas remain dry. These have been late to help much with establishment but will help with soil moisture into the Spring. Western Australia conditions are good after some rains. The demand has held well and world prices remain relatively high. The market in Russia has remained high on limited supply as farmer hold the Wheat back due to the drought and also cold weather with little or no snow cover on the ground.
Overnight News: The southern Great Plains should get scattered showers starting Thursday. Temperatures should be above normal. Northern areas should see mostly dry conditions or isolated showers. Temperatures will be above normal. The Canadian Prairies should see mostly dry conditions. Temperatures should average above normal.
Chart Analysis: Trends in Chicago are mixed. Support is at 577, 566, and 558 March, with resistance at 592, 600, and 608 March. Trends in Kansas City are mixed. Support is at 534, 533, and 531 March, with resistance at 556, 559, and 569 March. Trends in Minneapolis are mixed. Support is at 553, 548, and 543 March, and resistance is at 558, 560, and 564 March.

RICE
General Comments: Rice was a little higher once again in light volume trading. The market has entered into a very quiet period in both futures and cash markets. The cash market is slow and the lack of business is reflected in futures volumes traded. Reports indicate that domestic demand has been poor to average with better consumer demand more than offset by much less demand from schools and other institutions. The harvest is over with good field yields and generally good quality reported.
Overnight News: The Delta should get mostly dry conditions. Temperatures should be near to above normal.
Chart Analysis: Trends are mixed to down with objectives of 1204, 1187, and 1175 January. Support is at 1221, 1220, and 1215 January, with resistance at 1240, 1246, and 1248 January.

CORN AND OATS
General Comments Corn was higher as traders got ready for the WASDE reports today. Traders expect increased demand and lower ending stocks levels. The South American weather is showing mixed trends. It has rained in Argentina and southern Brazil in the past week. Rains have left these areas and has moved north into central and southern Brazil. Meanwhile, it has turned warm and dry to the south and this is more consistent with La Nina. Drought could develop in southern Brazil and Argentina once again but current forecasts offer hope for improved conditions. Some more rain is in the forecast for this weekend and next week to keep conditions improved for now. The drought is especially serious in South America for the first Corn crop but the second crop could also be affected due to late planting in central and northern Brazil. Dry weather has delayed the Soybeans planting and that will delay the second Corn planting later. Farmers will not plant if it gets too late in the year as the rains will shut off before the crop gets mature.
Overnight News: Mexico bought 344,442 tons of US Corn.
Chart Analysis: Trends in Corn are mixed. Support is at 419, 414, and 409 March, and resistance is at 427, 430, and 436 March. Trends in Oats are up with objectives of 336 March. Support is at 320, 315, and 310 March, and resistance is at 330, 333, and 336 March.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and the products closed higher as traders got ready for the monthly WASDE reports that will be released later this morning. Traders anticipate increased demand and reduced ending stocks estimates. The market has been weaker due to weaker demand news. China continues to buy in small amounts each day but has not appeared on the daily sales announcements in weeks. The weekly export sales report has reflected the decline in Chinese interest and also the seasonal turn to South American supplies by world buyers. Production potential is being threatened in South America due to the lack of rainfall. The situation is most serious in central and northern Brazil, but has improved in southern Brazil and Argentina due to recent rains. These rains have moved to the north but more rains will be seen in the south by next week. Southern Brazil and Argentina will then turn warm and dry and this will be much more consistent with atypical La Nina pattern. The world will need very strong production from South America to meet the projected demand. The stocks to use ration for Soybeans is now very small and the situation is the tightest projected in years.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed. Support is at 1143, 1138, and 1130 January, and resistance is at 1174, 1182, and 1190 January. Trends in Soybean Meal are down with objectives of 376.00 and 363.00 January. Support is at 376.00, 366.00, and 362.00 January, and resistance is at 385.00, 392.00, and 394.00 January. Trends in Soybean Oil are mixed. Support is at 3720, 3660, and 3640 January, with resistance at 3800, 3860, and 3900 January.

CANOLA AND PALM OIL
General Comments: Palm Oil closed higher in response to bullish MPOB data released this morning. The report showed less production and ending stocks. Production of most vegetable oils in the world is less this year due to a lack of production of oilseeds. The production of Palm Oil is down, too, in both Malaysia and Indonesia. Palm Oil prices are relatively high right now so importers are looking at importing Soybean Oil instead due to cost and quality. Canola was higher on the price action in Chicago. Very strong Palm Oil prices have made buying Soybean and Canola oils the better option. Trends are sideways now in Canola. Demand for Canola has improved in recent weeks and the domestic industry and exporters have been good buyers. Canola farmers have reduced selling by now so demand is chasing after fewer supplies.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 576.00, 564.00, and 560.00 January, with resistance at 590.00, 599.00, and 601.00 January. Trends in Palm Oil are mixed to up with objectives of 3590 February. Support is at 3300, 3270, and 3240 February, with resistance at 3420, 3470, and 3500 February.

DJ Malaysia’s Dec. 1-10 Palm Oil Exports Fall 5.8%, AmSpec Says
By Ronnie Harui
Malaysia’s palm oil exports during the Dec. 1-10 period are estimated down 5.8% on month at 417,960 tons, cargo surveyor AmSpec Agri Malaysia said Thursday.
The following are the major items in the AmSpec estimate:
(All figures in metric tons)
Dec. 1-10 Nov. 1-10
RBD Palm Olein 97,460 175,630
RBD Palm Oil 25,450 32,130
RBD Palm Stearin 40,950 34,465
Crude Palm Oil 126,220 102,250
Total* 417,960 443,895

DJ Malaysia’s November Palm Oil Exports 1.30M Tons; Down 22%, MPOB Says
Malaysia’s palm oil exports were down 22% on month at 1.30 million metric tons in November, the Malaysian Palm Oil Board said.
The following are details of the November crop data and revised numbers for October, issued by MPOB:
November October Change
On Month
Crude Palm Oil Output 1,491,551 1,724,559 Dn 13.51%
Palm Oil Exports 1,303,318 1,674,304 Dn 22.16%
Palm Kernel Oil Exports 91,747 140,640 Dn 34.76%
Palm Oil Imports 112,663 45,398 Up 148.17%
Closing Stocks 1,564,505 1,573,665 Dn 0.58%
Crude Palm Oil 725,198 737,919 Dn 1.72%
Processed Palm Oil 839,307 835,746 Up 0.43%
This content was automatically published based on data and/or text from the original source. For feedback, write to singaporeeditors@dowjones.com.

Midwest Weather Forecast: Mostly dry this week and some precipitation this weekend. Temperatures should average near to above normal

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
December +66 Mar +146 Dec +85 Mar +72 Jan +15 Jan N/A
January +70 Mar +90 Mar +72 Jan
February +74 Mar +90 Mar +72 Mar

DJ ICE Canada Cash Grain Close – Dec 9
WINNIPEG, Dec. 9 (MarketsFarm) – The following are the
closing cash canola prices from ICE Futures.
Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 551.83 -30.07 Jan 2021 dn 7.17
Basis: Thunder Bay 622.80 35.00 Jan 2021 up 3.90
Basis: Vancouver 632.80 45.00 Jan 2021 up 3.90
All prices in Canadian dollars per metric ton.

DJ Malaysian PM Cash Market Prices for Palm Oil – Dec 10
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Thursday, 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
Dec 947.50 +35.00 Unquoted – –
Jan/Feb/Mar 887.50 +20.00 Unquoted – –
Apr/May/Jun 802.50 +15.00 Unquoted – –
Jul/Aug/Sep 752.50 +15.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Dec 950.00 +35.00 Unquoted – –
Jan/Feb/Mar 890.00 +20.00 Unquoted – –
Apr/May/Jun 805.00 +15.00 Unquoted – –
Jul/Aug/Sep 755.00 +15.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Dec 930.00 +10.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Dec 810.00 +10.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Dec 3,700.00 +60.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Dec 290.00 +03.00 Unquoted – –
($1=MYR4.059)

DJ China Dalian Grain Futures Closing Prices, Volume – Dec 10
Soybean No. 1
Turnover: 200,938 lots, or 11.05 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-21 5,490 5,582 5,467 5,565 5,541 5,518 -23 149,206 60,377
Mar-21 5,473 5,550 5,464 5,539 5,485 5,515 30 1,802 3,281
May-21 5,386 5,466 5,376 5,448 5,406 5,432 26 48,040 47,180
Jul-21 5,372 5,434 5,372 5,409 5,407 5,415 8 1,327 3,240
Sep-21 5,382 5,415 5,364 5,399 5,382 5,400 18 539 2,781
Nov-21 5,200 5,229 5,196 5,225 5,181 5,220 39 24 52
Corn
Turnover: 676,568 lots, or 17.58 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-21 2,556 2,556 2,540 2,549 2,542 2,547 5 85,998 264,076
Mar-21 2,580 2,589 2,570 2,582 2,578 2,580 2 24,794 43,320
May-21 2,604 2,619 2,596 2,609 2,602 2,606 4 431,087 1,020,805
Jul-21 2,613 2,626 2,601 2,619 2,615 2,610 -5 95,393 123,394
Sep-21 2,611 2,624 2,604 2,617 2,615 2,611 -4 29,381 186,564
Nov-21 2,548 2,574 2,547 2,569 2,557 2,560 3 9,915 7,446
Soymeal
Turnover: 1,520,585 lots, or 47.45 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Dec-20 – – – 3,200 3,200 3,200 0 0 0
Jan-21 3,057 3,088 3,051 3,085 3,043 3,071 28 164,286 365,979
Mar-21 3,084 3,121 3,081 3,116 3,074 3,104 30 40,936 35,775
May-21 3,106 3,143 3,103 3,139 3,093 3,124 31 1,041,363 1,660,060
Jul-21 3,086 3,125 3,085 3,118 3,081 3,104 23 140,207 59,619
Aug-21 3,135 3,178 3,135 3,172 3,133 3,158 25 18,980 12,286
Sep-21 3,152 3,193 3,152 3,185 3,146 3,172 26 114,325 432,837
Nov-21 3,126 3,160 3,126 3,160 3,126 3,147 21 488 880
Palm Oil
Turnover: 1,226,624 lots, or 81.38 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Dec-20 – – – 6,588 6,588 6,588 0 0 1,600
Jan-21 6,732 6,780 6,650 6,686 6,678 6,720 42 355,284 138,898
Feb-21 6,780 6,870 6,636 6,720 6,688 6,776 88 385,938 44,623
Mar-21 6,708 6,736 6,574 6,624 6,650 6,668 18 83,799 6,183
Apr-21 6,546 6,600 6,438 6,490 6,476 6,538 62 99,650 2,232
May-21 6,358 6,442 6,322 6,356 6,320 6,382 62 294,226 240,045
Jun-21 – – – 6,194 6,194 6,194 0 0 3
Jul-21 6,142 6,196 6,104 6,122 6,084 6,152 68 9 16
Aug-21 – – – 6,110 6,110 6,110 0 0 5
Sep-21 5,962 6,034 5,948 5,960 5,956 5,982 26 7,715 19,655
Oct-21 – – – 6,026 6,000 6,026 26 0 21
Nov-21 5,978 5,978 5,942 5,942 5,940 5,966 26 3 33
Soybean Oil
Turnover: 624,518 lots, or 46.81 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Dec-20 – – – 7,798 7,798 7,798 0 0 66
Jan-21 7,800 7,844 7,752 7,778 7,778 7,788 10 298,335 232,535
Mar-21 7,608 7,660 7,576 7,598 7,600 7,610 10 2,887 8,645
May-21 7,264 7,318 7,226 7,254 7,256 7,264 8 271,804 392,905
Jul-21 7,014 7,074 6,996 7,014 7,034 7,022 -12 32,468 21,321
Aug-21 6,970 7,010 6,942 6,956 6,978 6,966 -12 9,152 2,476
Sep-21 6,948 6,988 6,914 6,926 6,940 6,942 2 9,872 50,042
Nov-21 – – – 6,932 6,932 6,932 0 0 48
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
 
 
 
 

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