WHEAT          

General Comments:   Wheat markets were higher.  Most traders now expect less or no Wheat offers from Black Sea ports after the middle of March.  No one is sure about Russia and its new tax regime.  Russia is raising its export taxes in mid March but farmers there are not selling.  The Russian government move has apparently caused lower prices internally and farmers have reportedly pulled back for the market.  Many world buyers such as Egypt have indicated that they still intend to buy Russian Wheat even with the new taxes, so the overall Wheat situation might not change that much even if Russia decides to move ahead with the new taxes in the end.  Great Plains weather has improved with snow except for some southern areas that remain dry.  Canada is also better although it remains drier than normal, and some rain and snow has fallen in southern Russia.  It remains much drier than normal in Argentina.

Overnight News:  The southern Great Plains should get mostly dry conditions.  Temperatures should be near to above normal.  Northern areas should see isolated showers. Temperatures will be near to above normal.  The Canadian Prairies should see isolated showers.  Temperatures should average near to below normal early and near to above normal late.

Chart Analysis:  Trends in Chicago are mixed.  Support is at 643, 634, and 629 March, with resistance at 673, 681, and 692 March.  Trends in Kansas City are mixed.  Support is at 624, 618, and 610 March, with resistance at 649, 660, and 668 March.  Trends in Minneapolis are mixed.  Support is at 627, 619, and 612 March, and resistance is at 640, 644, and 656 March.

 

COT — Supplemental Report – Option and Futures Combined Positions as of January 26, 2021

:                                    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   568,469

: Positions                                                                               :

:   81,562    84,280   180,003    86,553   211,496   181,762    41,862   529,881   517,641:   38,588    50,828

: Changes from: January 19, 2021           (Change in open interest:       3,088)         :

:   -6,768    -5,077     4,134     5,851     5,407     1,323    -1,724     4,541     2,740:   -1,452       348

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

:     14.3      14.8      31.7      15.2      37.2      32.0       7.4      93.2      91.1:      6.8       8.9

: Total Traders:   382          Number of Traders in Each Category                        :

:       97        95       121        74       118        48        21       295       294:

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

 

COT — Supplemental Report – Option and Futures Combined Positions as of January 26, 2021

:                                    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   241,423

: Positions                                                                               :

:   57,934    22,492    47,097    35,288   141,357    78,657     9,903   218,976   220,849:   22,447    20,574

: Changes from: January 19, 2021           (Change in open interest:       1,608)         :

:   -1,370     1,799     2,309       895      -865       138      -708     1,973     2,535:     -364      -927

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

:     24.0       9.3      19.5      14.6      58.6      32.6       4.1      90.7      91.5:      9.3       8.5

: Total Traders:   261          Number of Traders in Each Category                        :

:       74        36        57        68        96        35        14       200       184:

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

 

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of January 26, 2021

:                                             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 – MINNEAPOLIS GRAIN EXCHANGE   (CONTRACTS OF 5,000 BUSHELS)                                     :

CFTC Code #001626                                                    Open Interest is    94,931                :

: Positions                                                                                                    :

:   39,110    66,100     3,871       326     1,083    18,563     3,904     3,089     7,744     5,008     4,911 :

: Changes from:     January 19, 2021                                                                           :

:      400      -150        86        -8       125       703      -634       473    -1,461       843      -447 :

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

:     41.2      69.6       4.1       0.3       1.1      19.6       4.1       3.3       8.2       5.3       5.2 :

: Number of Traders in Each Category                                  Total Traders:   121                     :

:       52        44         6         .         4        15         7         5        14         9        12 :

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

 

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of January 26, 2021

:                                             Reportable Positions                                             :

:————————————————————————————————————- :

: Producer/Merchant :                             :                             :                              :

:  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :

:   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading :

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

BLACK SEA WHEAT FINANCIAL – CHICAGO BOARD OF TRADE   50 Metric Tons                                            :

CFTC Code #00160F                                                    Open Interest is    21,324                :

: Positions                                                                                                    :

:    9,176    14,939       493       315     1,350     4,956         0     3,744       200         0        50 :

: Changes from:     January 19, 2021                                                                           :

:    1,695       526       148      -152       152    -1,659      -200     2,739       200         0        50 :

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

:     43.0      70.1       2.3       1.5       6.3      23.2       0.0      17.6       0.9       0.0       0.2 :

: Number of Traders in Each Category                                  Total Traders:    24                     :

:        9        15         .         .         .         4         0         .         .         0         . :

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

 

RICE  

General Comments:  Rice was a little higher last week in mostly light volume trading.  Iraq announced a global tender for 30,000 tons of Rice last week.  Ideas are that countries other than the US will make the sale and that a US only tender will come somewhat later.  The cash market has not felt any increased demand lately and mill operations are reported to be on the slow side.  Exports had been strong until recently and were moderate last week.  Texas is about out of Rice, but there is Rice available in the other states.

Overnight News:  The Delta should get scattered showers today and late this weekend. Temperatures should be near normal.

Chart Analysis:   Trends are up with objectives of 1357 and 1387 March.  Support is at 1327, 1318, and 1317 March, with resistance at 1350, 1362, and 1374 March.

 

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of January 26, 2021

:                                             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    10,310                :

: Positions                                                                                                    :

:    4,265     8,398       129         0         0     2,530       467         0       969       759        94 :

: Changes from:     January 19, 2021                                                                           :

:     -561      -266         0         0         0       274         0         0        -2         0       -89 :

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

:     41.4      81.5       1.3       0.0       0.0      24.5       4.5       0.0       9.4       7.4       0.9 :

: Number of Traders in Each Category                                  Total Traders:    44                     :

:        9        13         .         0         0        11         .         0         7         6         6 :

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

 

CORN AND OATS                      

General Comments:  Corn was higher and made a new weekly high close and Oats were lower on apparent fund liquidation.  Big demand from China was the feature last week as the country booked at least 5.0 million tons of US Corn.  It was a big week for Corn sales for anybody.  The export sales report was very strong last week.  Export demand has held relatively strong as US Corn is about the cheapest feed grain in the world market.  It has rained in central and parts of northern Brazil in the last week.  Southern Brazil and Argentina also got some excessive rain.  The main crop harvest has started in parts of Brazil, but progress will be slow due to the spread out planting dates due too dry conditions earlier in the year.

Overnight News:  Mexico bought 125,730 tons of US Corn and Japan bought 110,000 tons of US Corn.

Chart Analysis:  Trends in Corn are up with objectives of 583 and 632 March.  Support is at 529, 525, and 513 March, and resistance is at 556, 562, and 568 March.  Trends in Oats are mixed.  Support is at 346, 341, and 339 March, and resistance is at 352, 360, and 368 March.

 

COT — Supplemental Report – Option and Futures Combined Positions as of January 26, 2021

:                                    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 2,574,864

: Positions                                                                               :

:  473,705    68,124   574,269   727,191 1,502,099   587,293   189,044 2,362,459 2,333,537:  212,405   241,328

: Changes from: January 19, 2021           (Change in open interest:     -34,641)         :

:  -12,323    -2,189   -11,601    13,539    -4,887   -17,579   -15,624   -27,963   -34,301:   -6,678      -340

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

:     18.4       2.6      22.3      28.2      58.3      22.8       7.3      91.8      90.6:      8.2       9.4

: Total Traders:   968          Number of Traders in Each Category                        :

:      223       134       208       396       486        53        26       775       765:

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

 

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of January 26, 2021

:                                             Reportable Positions                                             :

:————————————————————————————————————- :

: Producer/Merchant :                             :                             :                              :

:  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :

:   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading :

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

OATS – CHICAGO BOARD OF TRADE   (CONTRACTS OF 5,000 BUSHELS)                                                   :

CFTC Code #004603                                                    Open Interest is     4,791                :

: Positions                                                                                                    :

:    1,193     3,868       126         0         0     1,186         0         0       582        40        29 :

: Changes from:     January 19, 2021                                                                           :

:      732        53         0         0         0      -191         0         0        -4        40        29 :

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

:     24.9      80.7       2.6       0.0       0.0      24.8       0.0       0.0      12.1       0.8       0.6 :

: Number of Traders in Each Category                                  Total Traders:    27                     :

:        8        10         .         0         0         9         0         0         .         .         . :

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

 

SOYBEANS AND PRODUCTS   

General Comments:  Soybeans and Soybean Meal closed a little lower on fund selling.  The selling probably came on ideas that the impending Brazil harvest will kill current demand for US Soybeans.  China has been buying for this year and next year here.  Soybeans are now starting to be harvested in Brazil.  Very little has been done so far and the progress might be slow due to the spread out planting earlier this year caused by dry conditions.  Now it is raining too much for harvesting and there are some concerns that the quality could suffer.  Many areas had problems with the weather during different parts of the growing season, so yield report estimates have been a little less.  There is little sign the US price has rationed demand.  Export demand reports from USDA were weaker last week for old crop Soybeans, but very strong for new crop Soybeans.  The strong demand for exports and for domestic use means there is little room for error and that the US could even come close to running out of Soybeans to sell.

Overnight News:   Philippines bought 133,000 tons of US Soybean Meal. 

Chart Analysis:  Trends in Soybeans are mixed.  Support is at 1336, 1298, and 1280 March, and resistance is at 1376, 1395, and 1403 March.  Trends in Soybean Meal are mixed.   Support is at 421.00, 418.00, and 417.00 March, and resistance is at 434.00, 444.00, and 451.00 March.  Trends in Soybean Oil are mixed to up with objectives of 4420 and 4680 March.  Support is at 4400, 4370, and 4320 March, with resistance at 4560, 4600, and 4630 March.

 

COT — Supplemental Report – Option and Futures Combined Positions as of January 26, 2021

:                                    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 1,315,695

: Positions                                                                               :

:  184,881    40,120   370,123   417,794   708,804   253,689   106,451 1,226,487 1,225,497:   89,207    90,197

: Changes from: January 19, 2021           (Change in open interest:     -40,090)         :

:   -4,918    -3,890   -27,111     3,439    -1,766    -5,711    -4,084   -34,301   -36,850:   -5,789    -3,240

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

:     14.1       3.0      28.1      31.8      53.9      19.3       8.1      93.2      93.1:      6.8       6.9

: Total Traders:   664          Number of Traders in Each Category                        :

:      207       110       200       209       262        50        22       541       528:

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

 

COT — Supplemental Report – Option and Futures Combined Positions as of January 26, 2021

:                                    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   575,294

: Positions                                                                               :

:   96,522    21,115   140,650   138,007   362,825   154,480    25,864   529,659   550,453:   45,635    24,841

: Changes from: January 19, 2021           (Change in open interest:      16,062)         :

:   11,275    -2,121     1,774      -817    17,087     4,208       233    16,439    16,973:     -377      -911

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

:     16.8       3.7      24.4      24.0      63.1      26.9       4.5      92.1      95.7:      7.9       4.3

: Total Traders:   317          Number of Traders in Each Category                        :

:      107        35        81        90        93        41        17       272       205:

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

 

COT — Supplemental Report – Option and Futures Combined Positions as of January 26, 2021

:                                    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   483,384

: Positions                                                                               :

:   69,659    11,830    96,415   146,148   318,828   111,800    26,959   424,023   454,032:   59,361    29,352

: Changes from: January 19, 2021           (Change in open interest:      -6,874)         :

:   -5,756    -1,059    -5,113     2,275    -8,127     1,490     4,275    -7,103   -10,024:      229     3,149

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

:     14.4       2.4      19.9      30.2      66.0      23.1       5.6      87.7      93.9:     12.3       6.1

: Total Traders:   275          Number of Traders in Each Category                        :

:       88        27        66       105        99        36        16       253       190:

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

 

CANOLA AND PALM OIL          

General Comments:  Palm Oil was closed for a holiday today after a higher week last week.  Ideas are that the export demand could recover some in February.  Exports have been running at 44% less than last month.  The market had been supported by ideas of tight supplies in Malaysia.  Indonesia has increased its export taxes in the last week.  The production of Palm Oil is down in both Malaysia and Indonesia as plantations in both countries are having trouble getting workers into the fields.  Wet weather has caused even more delays.  Soybean Oil was higher for the week along with Palm Oil and on ideas of increasing demand, and Canola was lower on Friday as speculative profit taking hit the market after a string of new contract highs.

Overnight News:

Chart Analysis:  Trends in Canola are mixed.  Support is at 680.00, 674.00, and 659.00 March, with resistance at 696.00, 724.00, and 727.00 March.  Trends in Palm Oil are up with objectives of 3430 and 3570 April.  Support is at 3340, 3290, and 3220 April, with resistance at 3530, 3570, and 3670 April.

 

DJ Malaysia Jan. 1-31 Palm Oil Exports Fell 36%, AmSpec Says 

By Ronnie Harui

Malaysia’s palm oil exports during the Jan. 1-31 period are estimated 36% lower from the prior month at 1,089,702 metric tons, cargo surveyor AmSpec Agri Malaysia said Monday.

The following are the major items in the AmSpec estimate:

(All figures in metric tons)

Jan. 1-31      Dec. 1-31

RBD Palm Olein       331,770          N/A

RBD Palm Oil          87,055          N/A

RBD Palm Stearin      83,301          N/A

Crude Palm Oil       225,421          N/A

Total*             1,089,702        1,709,084

*Palm oil product volumes don’t add up to total as some products aren’t included.

 

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of January 26, 2021

:                                             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   240,452                :

: Positions                                                                                                    :

:  147,328   187,175     4,346     5,015     4,697    46,099     2,077     8,622     8,655    13,481    17,907 :

: Changes from:     January 19, 2021                                                                           :

:    3,991    -2,588      -111        -6       819    -6,536       949      -918     1,497     1,054       383 :

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

:     61.3      77.8       1.8       2.1       2.0      19.2       0.9       3.6       3.6       5.6       7.4 :

: Number of Traders in Each Category                                  Total Traders:   268                     :

:       56        55         .         5         4        54         4         8        62        53        42 :

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

 

Midwest Weather Forecast:   Mostly dry or light precipitation early this week, more rain and snow late this week.  Temperatures should average near to below normal.

 

 

 

US Gulf Cash Basis Corn HRW SRW Soybeans Soybean Meal Soybean Oil January +79 Mar +158 Mar +110 Mar +67 Mar +30 Mar +550 Mar February +70 Mar +97 Mar +68 Mar March +70 Mar +95 Mar +72 Mar          

 

DJ ICE Canada Cash Grain Close – Jan 29 

By MarketsFarm

WINNIPEG–Jan. 29 (MarketsFarm) – The following are the closing

cash canola prices from ICE Futures.

Source: ICE Futures

Price     Basis     Contract     Change

CANOLA

*Par Region          665.70    -33.40    Mar 2021     dn 7.50

Basis: Thunder Bay   704.00     35.00    May 2021     dn 1.70

Basis: Vancouver     734.00     65.00    May 2021     dn 1.70

All prices in Canadian dollars per metric tonne.

*Quote for previous day

Source: Commodity News Service Canada ([email protected],

or 204-414-9084)

 

DJ China Dalian Grain Futures Closing Prices, Volume – Feb 01 

Soybean No. 1

Turnover: 194,309 lots, or 11.03 billion yuan

Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open

Settle                                Interest

Mar-21     5,683     5,732     5,614     5,623     5,651     5,656         5     2,275     4,373

May-21     5,711     5,751     5,617     5,629     5,667     5,680        13   186,877    87,437

Jul-21     5,633     5,665     5,560     5,570     5,599     5,606         7       399       870

Sep-21     5,540     5,553     5,447     5,470     5,490     5,485        -5     3,736     6,529

Nov-21     5,382     5,382     5,315     5,345     5,351     5,342        -9       847       465

Jan-22     5,314     5,314     5,269     5,287     5,298     5,293        -5       175       387

Corn

Turnover: 1,034,995 lots, or 2.85 billion yuan

Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open

Settle                                Interest

Mar-21     2,709     2,765     2,704     2,763     2,710     2,735        25    32,595    98,035

May-21     2,714     2,778     2,714     2,774     2,720     2,753        33   731,015   984,516

Jul-21     2,734     2,791     2,723     2,788     2,735     2,771        36   118,511   149,255

Sep-21     2,705     2,759     2,701     2,757     2,714     2,738        24   102,212   284,835

Nov-21     2,635     2,689     2,635     2,684     2,672     2,670        -2    48,575    45,410

Jan-22     2,634     2,672     2,633     2,667     2,647     2,658        11     2,087     3,325

Soymeal

Turnover: 1,855,103 lots, or 64.54 billion yuan

Open      High       Low     Close     Prev.    Settle       Ch.         Vol        Open

Settle                                    Interest

Mar-21     3,610     3,636     3,548     3,599     3,619     3,595       -24      21,839      31,209

May-21     3,478     3,518     3,425     3,485     3,476     3,475        -1   1,311,557   1,386,514

Jul-21     3,450     3,501     3,410     3,471     3,453     3,459         6     123,694     112,139

Aug-21     3,480     3,531     3,455     3,499     3,486     3,488         2      27,684      18,569

Sep-21     3,500     3,543     3,450     3,512     3,491     3,498         7     350,872     737,753

Nov-21     3,346     3,430     3,344     3,421     3,363     3,407        44       2,515       1,876

Dec-21     3,352     3,405     3,347     3,384     3,346     3,375        29          18         518

Jan-22     3,314     3,364     3,290     3,341     3,307     3,326        19      16,924      53,802

Palm Oil

Turnover: 697,968 lots, or 47.11 billion yuan

Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open

Settle                                Interest

Feb-21     7,410     7,410     7,212     7,212     7,162     7,300       138       770     5,699

Mar-21     7,232     7,326     7,108     7,128     7,220     7,222         2     9,946    15,815

Apr-21     7,028     7,066     6,860     6,860     6,972     6,952       -20     2,556     9,157

May-21     6,820     6,856     6,682     6,698     6,756     6,770        14   635,485   368,016

Jun-21     6,686     6,756     6,594     6,596     6,652     6,662        10     6,462     7,573

Jul-21     6,566     6,632     6,454     6,454     6,542     6,552        10     1,763       793

Aug-21     6,490     6,490     6,288     6,288     6,286     6,388       102         2         4

Sep-21     6,380     6,394     6,258     6,270     6,332     6,316       -16    40,101    60,118

Oct-21     6,278     6,282     6,180     6,214     6,256     6,210       -46        27        25

Nov-21         –         –         –     6,180     6,180     6,180         0         0        16

Dec-21     6,238     6,238     6,176     6,182     6,126     6,206        80        13        29

Jan-22     6,132     6,194     6,126     6,128     6,116     6,168        52       843     1,324

Soybean Oil

Turnover: 664,922 lots, or 51.57 billion yuan

Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open

Settle                                Interest

Mar-21     8,342     8,370     8,200     8,204     8,288     8,308        20     3,204     2,244

May-21     7,882     7,904     7,758     7,782     7,838     7,828       -10   563,796   449,724

Jul-21     7,514     7,522     7,406     7,422     7,476     7,454       -22    16,124    34,711

Aug-21     7,392     7,416     7,310     7,310     7,380     7,358       -22     4,117     6,438

Sep-21     7,336     7,352     7,226     7,246     7,300     7,280       -20    76,618   136,494

Nov-21     7,170     7,274     7,148     7,150     7,234     7,208       -26       272       163

Dec-21     7,222     7,222     7,192     7,192     7,224     7,194       -30         8        81

Jan-22     7,214     7,234     7,126     7,138     7,204     7,160       -44       783     4,411

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.