MORNING GRAINS COMMENTS

MORNING GRAINS COMMENTS

Jack Scoville

Thursday, July 02, 2020

Price Futures Group, CBOT

Chicago, IL

(312) 264-4322

jscoville@pricegroup.com

JSL, SA de CV

San Salvador, El Salvador (503) 2260-7806 jslsadecv@comcast.net

JSL, SA

San José, Costa Rica (506) 2282-7024 

jslsa@comcast.net

DJ U.S. Export Sales: Weekly Sales Totals – Jul 2

    For the week ended Jun 25, in thousand metric tons, except cotton in

thousand running bales. Net changes in commitments are gross 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           414.3     75.0    7266.3    7202.7   5388.7     75.0

  hrw           181.0      0.0    2771.5    2896.5   1932.9      0.0

  srw           -32.6     75.0     611.3    1014.5    510.8     75.0

  hrs           122.7      0.0    2085.3    1772.5   1621.1      0.0

  white         141.7      0.0    1488.1    1290.7   1098.8      0.0

  durum           1.5      0.0     310.0     228.4    225.0      0.0

corn            361.1    262.7   42313.5   48915.6   8430.9   3892.9

soybeans        241.7    841.7   45042.6   48400.1   7745.1   6936.8

soymeal         143.0     13.0   11063.2   11273.4   2092.9    368.9

soyoil            2.8      0.0    1189.3     805.0    212.9     11.0

upland cotton    67.3    246.2   16992.9   15262.6   4441.8   3490.1

pima cotton       4.7      0.0     574.4     728.2    126.0     33.0

sorghum         144.4     68.0    4156.5    1554.7    843.4    456.0

barley            1.0      0.0      41.6      51.3     40.3      0.0

rice             24.9      0.0    3311.3    3370.6    336.4     62.7

DJ Repeat & Correct: U.S. May Oilseed, Meal, Oils/Fats Exports

(In the article “U.S. May Oilseed, Meal, Oils/Fats Exports” at 8:58 a.m. ET, the data in the April 20 column was incorrect. The corrected version follows.)

   In kilograms (top). Oils in pounds, soybeans in bushels, meal and hulls in

short tons (bottom). Source: U.S. Department of Commerce.

(*)NOTE: Year ago figures reflect data reported at that time.

Data includes Exports and Re-Exports.

                               ——- In Kilograms ——-

                        May 20          Apr 20          Mar 20     May 19(*)

soybeans          1,966,536,425   2,163,874,345   2,571,519,925 2,560,436,948

soyoil              162,305,113     104,437,136     145,507,537    93,319,407

  crude             146,282,800      87,695,281     130,366,996    80,309,787

  refined             1,013,597       3,665,050         283,982        81,671

  other/1            14,692,479      12,827,083      14,397,811    12,554,494

  hydrogenated          316,237         249,722         458,748       373,455

cottonseed oil        2,232,495       6,719,262       2,864,334     1,585,127

  crude                  32,663         357,000         542,000             0

  refined             1,009,843       4,875,431       1,014,467       861,300

  other/1             1,189,989       1,486,831       1,307,867       723,827

  hydrogenated                0               0               0             0

sunseeds                 60,174         227,385           9,965         1,995

sunseed oil           3,926,423       3,463,941       3,221,614     8,445,942

rapeseed              3,332,602       6,411,264      18,269,059     4,916,672

rapeseed oil          8,846,553      11,585,348       6,354,345     7,490,362

   crude              1,010,722       3,873,428       1,413,698     2,221,525

   refined            7,835,831       7,711,920       4,940,647     5,268,837

linseed meal            233,169         170,562         223,298       266,278

cottonseed meal       6,731,589       7,481,237       7,594,851     6,108,089

soymeal             741,211,036     861,271,705     966,833,938   819,429,924

soymeal/flour       235,502,689     228,907,866     236,117,297   185,251,087

soymeal hulls        16,721,000      14,306,000       5,297,000    12,266,000

lard                    460,435       1,112,013       1,806,097     1,855,826

edible tallow         9,976,092       9,587,544       7,695,279    10,089,035

inedible tallow      23,625,363      16,866,889      45,309,459    22,685,354

ch white grease               0               0          11,951         6,531

                         ——- In Bushels, Pounds or Short Tons ——-

                         May 20          Apr 20          Mar 20     May 19(*)

soybeans             72,257,103      79,507,956      94,486,213    94,078,987

soyoil              357,821,585     230,244,512     320,789,263   205,734,111

  crude             322,498,425     193,335,033     287,410,078   177,052,804

  refined             2,234,599       8,080,054         626,073       180,054

  other/1            32,391,377      28,278,882      31,741,745    27,677,926

  hydrogenated          697,183         550,543       1,011,366       823,327

cottonseed oil        4,921,810      14,813,440       6,314,777     3,494,607

  crude                  72,010         787,050       1,194,906             0

  refined             2,226,323      10,748,487       2,236,517     1,898,842

  other/1             2,623,477       3,277,902       2,883,354     1,595,766

  hydrogenated                0               0               0             0

sunseeds                132,661         501,298          21,969         4,398

sunseed oil           8,656,282       7,636,684       7,102,444    18,620,118

rapeseed              7,347,131      14,134,420      40,276,388    10,839,408

rapeseed oil         19,503,314      25,541,325      14,008,935    16,513,424

   crude              2,228,261       8,539,448       3,116,671     4,897,625

   refined           17,275,053      17,001,876      10,892,264    11,615,799

linseed meal                257             188             246           294

cottonseed meal           7,420           8,247           8,372         6,733

soymeal                 817,037         949,380       1,065,741       903,258

soymeal flour/me        259,595         252,325         260,272       204,202

soymeal hulls            18,432          15,770           5,839        13,521

lard                  1,015,086       2,451,569       3,981,763     4,091,397

edible tallow        21,993,522      21,136,920      16,965,189    22,242,519

inedible tallow      52,085,019      37,185,131      99,890,275    50,012,653

ch white grease               0               0          26,347        14,398

DJ U.S. May Grain Exports

    In kilograms (top) and in bushels (bottom), except flour in cwt and malt

in pounds.  /1 denotes includes commercial and donated. Source: U.S. Department

of Commerce.

(*)NOTE: Year ago figures reflect data reported at that time.

Data includes Exports and Re-Exports.

                               ——- In Kilograms ——-

                         May 20         Apr 20         Mar 20         May 19

Barley                2,188,097      1,550,244      1,984,946      4,175,958

Corn /1           5,700,116,000  5,057,455,000  4,615,912,000  4,689,879,000

Sorghum             809,404,000    802,729,000    497,459,000    270,316,000

Oats                  2,463,472      2,725,657      3,013,947      1,942,819

Rye                     989,810              0         37,342        550,000

Wheat /1          2,347,780,373  2,375,754,205  1,826,731,079  2,801,109,478

  wheat flour /1     22,937,338     25,421,406     24,906,677     21,801,686

Malt                 15,901,428     12,130,043     35,971,083     39,536,628  

                            ——- In Bushels, CWT or Pounds ——-

                         May 20         Apr 20         Mar 20         May 19

Barley                  100,497         71,201         91,167        191,798

Corn /1             224,401,352    199,101,165    181,718,564    184,630,486

Sorghum              31,864,501     31,601,720     19,583,895     10,641,762

Oats                    169,718        187,781        207,642        133,848

Rye                      38,967              0          1,470         21,652

Wheat /1             86,265,276     87,293,128     67,120,188    102,922,098

  wheat flour /1        505,682        560,446        549,098        480,645

Malt                 35,056,654     26,742,172     79,302,677     87,163,359

1/Includes commercial and donated.

DJ U.S. May Soymeal, Vegetable Oils/Oilseed Imports-Jul 2

   In kilograms from the U.S. Commerce Department, converted to pounds

by Dow Jones.

                           —-May 2020—-                —-Apr 2020—-

                             kilograms          pounds       kilograms          pounds

coconut oil                 36,501,316      80,485,402      36,879,319      81,318,898

palm kernel oil             21,436,027      47,266,440      26,815,367      59,127,884

palm oil                    97,104,743     214,115,958     122,277,733     269,622,401

soybean                     28,736,610      63,364,225      19,888,932      43,855,095

soymeal                              0               0               0               0

soyoil                      11,048,278      24,361,453      11,076,058      24,422,708

rapeseed oil

 edible                    160,868,445     354,714,921     152,614,011     336,513,894

rapeseed oil,

 inedible                       90,396         199,323               0               0

DJ U.S. May Grain Imports-Jul 2

   In kilograms, from the U.S. Commerce Department, converted to

pounds by Dow Jones.

                           —-May 2020—-                —-Apr 2020—-

                             kilograms          pounds       kilograms          pounds

durum wheat                    164,341         362,372          90,644         199,870

spring wheat                 3,738,582       8,243,573       5,660,960      12,482,417

winter wheat                 2,069,185       4,562,553       1,399,047       3,084,899

wheat/meslin                32,957,346      72,670,948      41,405,959      91,300,140

TOTAL WHEAT                 38,929,454      85,839,446      48,556,610     107,067,325

barley                       2,502,446       5,517,893       5,001,796      11,028,960

oats                           440,347         970,965       1,651,545       3,641,657  

corn                        55,845,344     123,138,984      89,809,712     198,030,415

other corn                   3,500,417       7,718,419       2,828,754       6,237,403

TOTAL CORN                  59,345,761     130,857,403      92,638,466     204,267,818

DJ UN FAO: Food Prices Rise for First Time This Year

  By Will Horner  

  Global food prices rose in June for the first time this year, the United Nations’ Food and Agriculture Organization said Thursday, suggesting that the sharp declines experienced by food commodities as the coronavirus has hit demand could be easing.

  The UN FAO’s monthly food price index, which tracks a basket of the most common foodstuffs such as grains, vegetable oils and meat, rose 2.4% in June to 93.2.

  The rise halts four consecutive months of declining food prices, as measured by the FAO, that have come as supply has been slow to adjust to the pandemic’s sharp impact on demand.

  The rise in the overall index has largely come from jumps in the price of sugar and vegetable oils. The FAO’s sugar price sub-index rose 10.6%, thanks to rising oil prices, which can incentivize Brazilian sugar mills to switch production from the sweetener to the biofuel ethanol.

  A sub-index tracking vegetable oil prices rose 11.3% thanks largely to higher palm oil prices that have gained as the easing of coronavirus lockdowns has led to increased imports, the FAO said.

  Other foodstuffs tracked by the index also rose though the increases were more muted. Dairy prices rose 4% as imports from the Middle East and East Asia were slowly recovering, the FAO said.

  Cereal and meat prices both rose by 0.6%. While demand for staple foods like cereals have been less affected by the virus, harvest this year of many grains are expected to be very strong. Strong supplies of poultry and bovine meat also weighed on meat prices, the FAO said.

DJ CBOT Delivery Intentions: Totals – Jul 2

Source: CME Group  

                       Contract                         Quantity   Next Trade

Commodity              Month      Delivery Day    Assigned Today   Date Available

SOYBEAN MEAL           July       Jul. 06, 2020              187   Jun 16, 2020

SOYBEAN OIL            July       Jul. 06, 2020              223   Jun 29, 2020

ROUGH RICE             July       Jul. 06, 2020               45   Jun 23, 2020

KC  HRW WHEAT          July       Jul. 06, 2020               96   Jun 29, 2020

WHEAT                  July       Jul. 06, 2020              133   Jun 25, 2020

WHEAT:                                                                                                

General Comments:   Winter Wheat markets were mixed, with Winter Wheat futures higher and Spring Wheat futures lower.  There are ideas that Winter Wheat market have made a seasonal bottom.  Yield reports from the Great Plains have been variable, but generally a little better than expected.  Spring Wheat was lower on improving growing conditions for the crops.  Spring Wheat markets show down trends as good conditions are also reported in much of Canada.  It remains dry in the western sections of the Great Plains but this will aid harvest progress now.  Better rains are reported in Europe and Russia.  Russia could turn hot and dry starting this week but soil moisture is good for now.  Australia remains in good condition.   

Overnight News:  The southern Great Plains should get scattered showers.  Temperatures should be near to below normal.  Northern areas should see scattered showers.  Temperatures will average near to above normal.  The Canadian Prairies should see scattered showers.  Temperatures should average near to above normal.  

Chart Analysis:  Trends in Chicago are mixed to up with objectives of 514 and 537 September.  Support is at 489, 481, and 471 September, with resistance at 503, 512, and 515 September.  Trends in Kansas City are mixed.  Support is at 434, 424, and 418 September, with resistance at 446, 450, and 454 September.  Trends in Minneapolis are mixed to down with objectives of 506 and 488 September.  Support is at 516, 512, and 506 September, and resistance is at 522, 524, and 527 September.

RICE

General Comments:  Rice was mixed, with July sharply higher again   USDA on Tuesday showed increased planted All Rice area at 2.921 million acres.  The estimate was in line with trade expectations.  USDA also showed that the quarterly stocks were in line with trade expectations but still tight.  The new crop continues to show progress under mostly good conditions.  The combination of good export buying in general and the buying inside the US due to the Coronavirus has made the market short old crop Rice.  This appears to be factored into the price as there are ideas that the mills are well covered into new crop, but little Rice is available from producers.  The crops that got planted are in very good condition in the south and near the Gulf Coast but planting was more problematic in parts of Mississippi, Arkansas, and Missouri.  Ideas are that the long grain got planted and producers did not plant medium grain if some prevent planting was needed. 

Overnight News:  The Delta should get isolated showers. Temperatures should be near to above normal. 

Chart Analysis:  Trends are mixed to down with objectives of 1186 September.  Support is at 1212, 1203, and 1201 September, with resistance at 1230, 1241, and 1246 September.

CORN AND OATS                    

General Comments:  Corn was higher on fund buying and on the Tuesday USDA reports.  The quarterly stocks report was negative but the planted area report was very bullish and the surprise of the market.  USDA showed that only 92 million acres of Corn got planted, an historically wide variance from its March intentions report that showed planting intentions at 97 million acres.  The weather was in the background but is generally considered good for the crops.  However, there are some forecasts for hot and dry weather in the Midwest for next week.  Meats processors are back and are operating at about 95% of capacity.  The backlog of Cattle and Hogs will slowly disappear under this scenario and meats wholesale and retail prices are falling.  Ethanol demand is also improving as lockdown orders are lifted in most states and in Europe, but the recent Corn rally has made processing margins negative again.  Some states are starting to pull back from opening up as the Coronavirus cases have greatly increased and a new pandemic or a continuation of the old one is feared.  Future gasoline and ethanol demand has become harder to define.

Overnight News:  USDA said that China bought 202,000 tons of US Corn overnight.

Chart Analysis:  Trends in Corn are up with objectives of 355 September.  Support is at 339, 332, and 326 September, and resistance is at 346, 350, and 356 September.  Trends in Oats are mixed.  Support is at 286, 283, and 279 September, and resistance is at 292, 298, and 301 September.

DJ Ethanol Inventories Fall to Lowest Since 2017 — Market Talk

  11:26 ET – US ethanol inventories are now at their lowest level since January 2017, according to data from the EIA. Inventories dropped another 870,000 barrels this week, putting them at 20.2M barrels–the lowest since the week of Jan. 6, 2017. The consumption of leftover ethanol barrels is good news for US corn, which has held a bearish view of ethanol demand in the US since the coronavirus outbreak forced many plants to shut their doors either temporarily or permanently. Ethanol production also continued to recover, although it only grew by 7,000 barrels a day this week, rising to a rate of 900,000 barrels a day. Corn futures on the CBOT are up 2.8%, as grain traders eat into their ample short positions. (kirk.maltais@wsj.com; @kirkmaltais)

]

SOYBEANS AND PRODUCTS 

General Comments:  Soybeans were higher on the smaller than expected increase in planted area to Soybeans by US farmers as indicated by USDA on Tuesday.  The quarterly stocks report was as expected.  China has become a much more active buyer of Soybeans here in the US and has promised to ramp up purchases in order to comply with commitments it made under the Phase One trade deal.  These words are in doubt now due to the war of words between the two countries over Hong Kong.  China has remained a very active buyer in South America even as it has increased Soybeans buying here in the US, so the overall amount taken from the US might not match the hopes of the trade.  Brazil prices have been creeping higher for the rest of the world as it starts to run out of Soybeans to export, so China and the rest of the world will look to the US and Argentina for additional supplies.  The US weather is considered good for growing Soybeans at this time with rains seen over the weekend and more again yesterday.  Hot and dry weather is possible next week.  USDA showed very good crop conditions again this week in its weekly update.

Overnight News:   USDA said tthat China bought 126,000 tons of US new crop Soybeans overnight.

Chart Analysis:  Trends in Soybeans are up with objectives of 891 August.  Support is at 880, 872, and 868 August, and resistance is at 896, 900, and 915 August.  Trends in Soybean Meal are up with objectives of 301.00 August.   Support is at 292.00, 290.00, and 286.00 August, and resistance is at 298.00, 300.00, and 305.00 August.  Trends in Soybean Oil are mixed.  Support is at 2790, 2710, and 2680 August, with resistance at 2850, 2890, and 2910 August.

CANOLA AND PALM OIL        

General Comments:  Palm Oil closed higher on the strength in the outside markets.  Higher world petroleum prices helped with ideas of increased bio fuels demand  Palm Oil has been hoping for better demand from importers as world economies slowly open after being closed by the Coronavirus epidemic.  Indonesia continues to focus its Palm Oil on internal demand for bio fuels.  Canola was higher.  Canola was higher on a weaker Canadian Dollar and Chicago price action   The planted area estimates were above trade expectations but below the previous year. The weather has been warmer the past couple of weeks after weeks of cold and wet weather. 

Overnight News:    

Chart Analysis:  Trends in Canola are mixed.  Support is at 472.00, 470.00, and 468.00 November, with resistance at 480.00, 482.00, and 484.00 November.  Trends in Palm Oil are mixed to down with objectives of 2290 September.  Support is at 2290, 2250, and 2200 September, with resistance at 2370, 2430, and 2470 September.

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

US Gulf Cash Basis

Corn

HRW

SRW

Soybeans

Soybean Meal

Soybean Oil

July

+54 July

+135 Sep

+40 July

+56 July

N/A

N/A

August

+50 Sep

+45 Sep

+66 Aug

September

+55 Sep

+45 Sep

+62 Nov

DJ ICE Canada Cash Grain Close – Jun 30

     WINNIPEG–The following are the closing cash canola prices

from ICE Futures for June 30, 2020.

     Source:  ICE Futures

CANOLA

1 Canada NCC Best Bid

                Spot Price    Basis   Contract     Change

*Par Region         458.60   -15.50  July 2020   up  5.10

Track Thunder Bay   491.00    15.00   Nov 2020   up  3.40

Track Vancouver     501.00    25.00   Nov 2020   up  3.40

All prices in Canadian dollars per metric ton.

*Quote for previous day 

Source: Commodity News Service Canada (news@marketsfarm.com, or

204-414-9084)

D DJ Malaysian PM Cash Market Prices for Palm Oil – July 2

  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

July          600.00       0.00      Unquoted   –        –

Aug           592.50     +02.50      Unquoted   –        –

Sept          580.00       0.00      Unquoted   –        –

Oct/Nov/Dec   570.00     +05.00      Unquoted   –        –

RBD palm olein, FOB, Malaysian ports

              Offer      Change      Bid        Change   Traded

July          602.50       0.00      Unquoted   –        –

Aug           595.00     +02.50      Unquoted   –        –

Sept          582.50       0.00      Unquoted   –        –

Oct/Nov/Dec   572.50     +05.00      Unquoted   –        –

RBD palm stearin, FOB, Malaysian ports

              Offer      Change      Bid        Change   Traded

July          585.00       0.00      Unquoted   –        –

Palm Fatty Acid Distillate, FOB Malaysian ports

              Offer      Change      Bid        Change   Traded

July          510.00       0.00      Unquoted   –        –

Crude palm oil, Delivered Basis, South Malaysia

              Offer      Change      Bid        Change   Traded

July          2,450.00   +10.00      Unquoted   –        –

Palm kernel oil, Delivered Basis, South Malaysia

              Offer      Change      Bid        Change   Traded

July          166.00     +02.00      Unquoted   –        –  

($1=MYR4.2835)

DJ China Dalian Grain Futures Closing Prices, Volume – Jul 02

Soybean No. 1

Turnover: 290,004 lots, or 14.03 billion yuan

        Open    High    Low  Close   Prev.  Settle   Ch.      Vol      Open

                                    Settle                         Interest

Jul-20  5,650  5,719  5,633  5,633   6,122   5,646  -476       19       425

Sep-20  4,859  4,905  4,838  4,883   4,874   4,872    -2  269,123   184,534

Nov-20  4,405  4,446  4,403  4,423   4,424   4,416    -8      212       941

Jan-21  4,382  4,400  4,363  4,391   4,385   4,384    -1   19,921    54,225

Mar-21  4,386  4,411  4,383  4,408   4,394   4,397     3       77       116

May-21  4,397  4,410  4,377  4,409   4,398   4,402     4      652     3,794

Corn

Turnover: 606,628 lots, or 12.71 billion yuan

        Open    High    Low  Close   Prev.  Settle  Ch.      Vol      Open

                                    Settle                        Interest

Jul-20  2,100  2,100  2,009  2,009   2,090   2,054  -36        2       121

Sep-20  2,096  2,102  2,076  2,100   2,095   2,089   -6  450,631   662,394

Nov-20  2,103  2,113  2,089  2,111   2,103   2,101   -2   33,488    46,055

Jan-21  2,108  2,118  2,093  2,117   2,109   2,106   -3   98,525   335,168

Mar-21  2,120  2,132  2,109  2,129   2,122   2,120   -2    3,530     2,419

May-21  2,145  2,152  2,130  2,150   2,144   2,142   -2   20,452    91,635

Soymeal

Turnover: 1,493,588 lots, or 43.38 billion yuan

        Open    High    Low  Close   Prev.  Settle  Ch.        Vol       Open

                                    Settle                           Interest

Jul-20  –          –      –  2,702   2,684   2,702   18         50      1,000

Aug-20  2,867  2,894  2,860  2,882   2,820   2,882   62      2,664      9,106

Sep-20  2,886  2,909  2,876  2,898   2,863   2,896   33  1,078,847  1,279,565

Nov-20  2,916  2,943  2,911  2,935   2,897   2,933   36     24,682     54,244

Dec-20  2,927  2,956  2,926  2,949   2,902   2,946   44     17,176      6,305

Jan-21  2,940  2,960  2,929  2,952   2,916   2,949   33    325,073    830,087

Mar-21  2,808  2,834  2,805  2,814   2,785   2,822   37      1,814      2,076

May-21  2,742  2,763  2,732  2,753   2,723   2,751   28     43,282    185,519

Palm Oil

Turnover: 1,040,346 lots, or 51.50 billion yuan

        Open    High    Low  Close   Prev.  Settle  Ch.      Vol      Open

                                    Settle                        Interest

Jul-20  –          –      –  5,162   5,162   5,162    0        0         0

Aug-20  –          –      –  4,986   4,986   4,986    0        0         2

Sep-20  4,946  4,996  4,914  4,988   4,926   4,954   28  930,987   342,750

Oct-20  4,880  4,914  4,830  4,912   4,802   4,878   76    3,017     3,115

Nov-20  4,848  4,898  4,840  4,896   4,804   4,872   68    1,028     1,225

Dec-20  4,856  4,914  4,856  4,908   4,838   4,886   48    1,220       781

Jan-21  4,878  4,940  4,874  4,926   4,872   4,908   36  102,431   124,717

Feb-21  4,974  4,976  4,968  4,976   4,950   4,972   22        3       115

Mar-21  5,044  5,044  5,044  5,044   4,988   5,044   56        1        19

Apr-21  –          –      –  5,180   5,124   5,180   56        0       152

May-21  4,994  5,036  4,980  5,024   4,974   5,010   36    1,659     9,360

Jun-21  –          –      –  5,062   5,062   5,062    0        0         0

Soybean Oil

Turnover: 467,344 lots, or 26.77 billion yuan

        Open    High    Low  Close   Prev.  Settle  Ch.      Vol      Open

                                    Settle                        Interest

Jul-20  –          –      –  5,398   5,398   5,398    0        0         1

Aug-20  5,682  5,726  5,682  5,726   5,562   5,704  142        2         2

Sep-20  5,662  5,754  5,652  5,736   5,636   5,712   76  374,273   323,865

Nov-20  5,708  5,786  5,708  5,782   5,698   5,764   66    3,620     5,730

Dec-20  5,758  5,814  5,722  5,780   5,716   5,758   42    3,222     1,496

Jan-21  5,732  5,822  5,720  5,798   5,708   5,784   76   81,228   205,502

Mar-21  5,776  5,846  5,776  5,828   5,740   5,834   94    2,700       335

May-21  5,750  5,832  5,750  5,818   5,730   5,796   66    2,299    17,380  

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.

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