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Crop Progress
Date 3 May 24-Apr 2019 Avg
Cotton Planted 18 13 16 17
Corn Planted 51 27 21 39
Corn Emerged 8 3 5 10
Soybeans Planted 23 8 5 11
Sorghum Planted 22 20 21 26
Rice Planted 49 39 45 64
Rice Emerged 32 23 33 45
Peanuts Planted 14 6 18 16
Sugar beets Planted 49 37 29 63
Oats Planted 67 54 48 67
Oats Emerged
44 32 35 47
Winter Wheat Headed 32 21 26 38
Spring Wheat Planted 29 14 19 43
Spring Wheat Emerged 6 4 4 16
Barley Planted 41 24 34 50
Barley Emerged 12 8 10 23

Crop Condition
Very Poor Fair Good Excellent
Winter Wheat This Week 4 10 31 48 7
Winter Wheat Last Week 4 11 31 47 7
Winter Wheat Last Year 2 6 28 52 12

Pastures and Ranges This Week 6 10 35 43 6
Pastures and Ranges Last Week
Pastures and Ranges Last Year 1 7 32 49 11

DJ USDA Grain Inspections for Export in Metric Tons – May 4
COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.
INFORMATION CONTAINED IN THIS REPORT REFLECTS EXPORTED GRAIN INSPECTED AND
WEIGHED THROUGH THE AUTHORITY UNDER THE U.S. GRAIN STANDARDS ACT.
NO ADDITIONAL ANALYSIS, COMPILATIONS OR DATA IS AVAILABLE.
GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT
REPORTED IN WEEK ENDING APR 30, 2020
— METRIC TONS —
————————————————————————-
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 04/30/2020 04/23/2020 05/02/2019 TO DATE TO DATE
BARLEY 0 49 0 30,548 9,181
CORN 1,217,218 1,078,688 976,842 23,545,777 35,632,463
FLAXSEED 0 0 0 520 462
MIXED 0 0 0 0 0
OATS 0 0 0 3,343 2,792
RYE 0 0 0 0 0
SORGHUM 140,458 285,813 24,571 2,589,637 1,207,978
SOYBEANS 318,100 561,063 603,452 33,802,328 32,142,298
SUNFLOWER 0 0 0 0 0
WHEAT 535,691 506,323 540,450 23,043,277 21,951,613
Total 2,211,467 2,431,936 2,145,315 83,015,430 90,946,787
————————————————————————-
CROP MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND
FLAXSEED; SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.
INCLUDES WATERWAY SHIPMENTS TO CANADA.

DJ Correct: U.S. March Grain Imports-May 5
(“U.S. March Grain Imports-May 5,” at 08:58 EDT, misstated current and previous data. The correct version follows:)
In kilograms, from the U.S. Commerce Department, converted to
pounds by Dow Jones.
—-Mar 2020—- —-Feb 2020—-
kilograms pounds kilograms pounds
durum wheat 11,166,299 24,621,689 1,241,038 2,736,489
spring wheat 5,828,005 12,850,751 4,736,025 10,442,935
winter wheat 2,034,828 4,486,796 219,563 484,136
wheat/meslin 15,218,372 33,556,510 14,225,678 31,367,620
TOTAL WHEAT 34,247,504 75,515,746 20,422,304 45,031,180
barley 7,778,692 17,152,016 5,802,961 12,795,529
oats 3,038,505 6,699,904 1,716,044 3,783,877
corn 56,455,139 124,483,581 51,770,117 114,153,108
other corn 4,895,349 10,794,245 6,652,128 14,667,942
TOTAL CORN 61,350,488 135,277,826 58,422,245 128,821,050

DJ Correct: U.S. Mar Soymeal, Vegetable Oils/Oilseed Imports-May 5
(“U.S. Mar Soymeal, Vegetable Oils/Oilseed Imports-May 5,” at 08:57 EDT, misstated current and previous data. The correct version follows:)
In kilograms from the U.S. Commerce Department, converted to pounds
by Dow Jones.
—-Mar 2020—- —-Feb 2020—-
kilograms pounds kilograms pounds
coconut oil 43,822,372 96,628,330 42,735,701 94,232,221
palm kernel oil 40,436,229 89,161,885 42,979,896 94,770,671
palm oil 155,450,862 342,769,151 135,082,314 297,856,502
soybean 28,931,565 63,794,101 40,171,946 88,579,141
soymeal 0 0 0 0
soyoil 10,809,135 23,834,143 12,724,684 28,057,928
rapeseed oil
edible 178,060,303 392,622,968 128,611,364 283,588,058
rapeseed oil,
inedible 53,799 118,627 1,330 2,933

DJ U.S. March Grain Exports-May 5
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 ——-
Mar 20 Feb 20 Jan 20 Mar 19(*)
Barley 1,984,946 1,805,334 4,935,169 4,178,585
Corn /1 4,615,912,000 3,916,049,000 2,494,779,000 4,770,645,000
Sorghum 497,459,000 297,902,000 252,083,000 155,479,000
Oats 3,013,947 3,294,333 2,591,827 3,025,349
Rye 37,342 10,201 156,917 0
Wheat /1 1,826,731,079 2,184,411,853 1,880,541,355 1,969,681,565
wheat flour /1 24,906,677 22,924,077 22,285,228 22,872,007
Malt 35,971,083 34,692,762 36,006,869 33,395,882
——- In Bushels, CWT or Pounds ——-
Mar 20 Feb 20 Jan 20 Mar 19(*)
Barley 91,167 82,917 226,668 191,919
Corn /1 181,718,564 154,166,457 98,214,103 187,810,070
Sorghum 19,583,895 11,727,763 9,923,967 6,120,875
Oats 207,642 226,959 178,561 208,428
Rye 1,470 402 6,177 0
Wheat /1 67,120,188 80,262,572 69,097,357 72,372,666
wheat flour /1 549,098 505,389 491,305 504,242
Malt 79,302,677 76,484,461 79,381,572 73,625,330
1/Includes commercial and donated.

DJ U.S. March Oilseed, Meal, Oils/Fats Exports-May 5
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 ——-
Mar 20 Feb 20 Jan 20 Mar 19(*)
soybeans 2,571,519,925 2,758,866,780 5,319,216,023 3,706,545,782
soyoil 145,507,537 179,744,204 56,754,373 123,304,166
crude 130,366,996 163,046,872 44,792,336 105,920,622
refined 283,982 108,209 117,811 129,031
other/1 14,397,811 16,290,645 11,604,484 16,580,273
hydrogenated 458,748 298,478 239,742 674,240
cottonseed oil 2,864,334 1,869,006 3,350,588 5,445,670
crude 542,000 551,000 287,428 35,498
refined 1,014,467 3,181 1,950,488 4,327,610
other/1 1,307,867 1,251,311 1,112,672 1,082,562
hydrogenated 0 63,514 0 0
sunseeds 9,965 111,174 139,950 194,877
sunseed oil 3,221,614 2,656,075 3,763,147 5,300,889
rapeseed 18,269,059 18,964,381 15,539,122 7,757,865
rapeseed oil 6,354,345 9,792,681 7,162,668 10,708,041
crude 1,413,698 5,914,163 617,984 5,744,495
refined 4,940,647 3,878,518 6,544,684 4,963,546
linseed meal 223,298 76,253 96,195 226,759
cottonseed meal 7,594,851 7,107,971 9,314,249 9,277,529
soymeal 966,833,938 1,026,610,411 709,529,097 763,932,135
soymeal/flour 236,117,297 227,891,987 255,531,628 298,109,814
soymeal hulls 5,297,000 5,132,000 18,361,000 6,244,000
lard 1,806,097 1,554,612 2,432,874 962,910
edible tallow 7,695,279 10,542,563 12,182,157 9,004,718
inedible tallow 45,309,459 36,917,562 23,993,259 28,903,310
ch white grease 11,951 5,010,434 0 27,761
——- In Bushels, Pounds or Short Tons ——-
Mar 20 Feb 20 Jan 20 Mar 19(*)
soybeans 94,486,213 101,369,961 195,445,726 136,190,846
soyoil 320,789,263 396,268,206 125,121,996 271,839,200
crude 287,410,078 359,456,884 98,750,214 233,515,039
refined 626,073 238,560 259,729 284,465
other/1 31,741,745 35,914,731 25,583,512 36,553,251
hydrogenated 1,011,366 658,031 528,541 1,486,445
cottonseed oil 6,314,777 4,120,454 7,386,783 12,005,649
crude 1,194,906 1,214,747 633,670 78,260
refined 2,236,517 7,013 4,300,091 9,540,749
other/1 2,883,354 2,758,669 2,453,022 2,386,641
hydrogenated 0 140,024 0 0
sunseeds 21,969 245,097 308,537 429,630
sunseed oil 7,102,444 5,855,644 8,296,320 11,686,462
rapeseed 40,276,388 41,809,311 34,257,906 17,103,168
rapeseed oil 14,008,935 21,589,170 15,790,983 23,607,193
crude 3,116,671 13,038,500 1,362,422 12,664,446
refined 10,892,264 8,550,670 14,428,561 10,942,748
linseed meal 246 84 106 250
cottonseed meal 8,372 7,835 10,267 10,227
soymeal 1,065,741 1,131,633 782,114 842,082
soymeal flour/me 260,272 251,205 281,673 328,606
soymeal hulls 5,839 5,657 20,239 6,883
lard 3,981,763 3,427,333 5,363,570 2,122,854
edible tallow 16,965,189 23,242,377 26,857,064 19,852,008
inedible tallow 99,890,275 81,389,306 52,896,091 63,720,902
ch white grease 26,347 11,046,118 0 61,203

DJ CBOT Delivery Intentions: Totals – May 5
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
ROUGH RICE May. 06, 2020 59 Apr 15, 2020
CORN May. 06, 2020 87 Apr 29, 2020

WHEAT:
General Comments: Wheat markets were higher on the bad weather reported in the Great Plains. It was cold and part of the crop froze, then it turned warm and dry. The big negative for the market is still better weather for Europe and Russia. Europe has been getting some rains after a prolonged dry spell and Russia is likely to get some very beneficial rains this week. The rains in Russia would come at a time when the crop most needs them. The forecasts call for big rains that would really help the crops. The US Midwest has also seen a lot of rain and a bumper SRW crop is expected. The Great Plains have been a different story and reduced production ideas are floated for HRW areas. It has been hot and dry in central and southern areas after a freeze a couple of weeks ago. The crop suffered Winterkill first and now is suffering under the hot and dry weather. It has been warm and mostly dry in the northern Great Plains and into the Canadian Prairies but the market is less concerned about production potential for Spring Wheat crops. Ideas are that the warmer and drier weather is greatly assisting in the planting progress.
Overnight News: The southern Great Plains should get scattered showers on Saturday and Monday. Temperatures should be above normal. Northern areas should see scattered showers on Saturday and Monday Temperatures will average above normal. The Canadian Prairies should see scattered showers on Friday and Sunday, otherwise mostly dry conditions. Temperatures should trend to above normal.
Chart Analysis: Trends in Chicago are mixed to down with objectives of 487 July. Support is at 506, 499, and 488 July, with resistance at 525, 535, and 540 July. Trends in Kansas City are mixed. Support is at 476, 470, and 468 July, with resistance at 489, 496, and 508 July. Trends in Minneapolis are mixed to down with objectives of 482 July. Support is at 502, 497, and 491 July, and resistance is at 514, 518, and 520 July.

RICE
General Comments: Rice was lower with the biggest losses seen in May while it is in delivery. May Rice has put on a show as domestic supplies ran low in the cash market. The domestic situation remains tight. New crop months have reflected ideas of greatly increased planted area from producers. Some producers are selling the next crop and some significant hedge selling has been seen in new crop months in futures but this has dried up as Arkansas has been cool and wet for planting. Planting should be active this week in the state and northern sections of the state are reported to be planted already. Mississippi has also had problems planting the crop due to too much rain. Demand for US Rice remains generally positive and the export sales pace in general has been very good. Mills and exporters are calling previously bought Rice to keep the market supplied. This is happening mostly in Arkansas as Gulf Coastal areas are mostly sold out of Rice. The weekly crop progress reports showed that southern Rice is emerging well. Some Texas and Louisiana Rice is now in flood.
Overnight News: The Delta should get mostly dry conditions Temperatures should be generally below normal.
Chart Analysis: Trends are mixed. Support is at 1450, 1444, and 1432 July, with resistance at 1504, 1548, and 1562 July.

CORN AND OATS
General Comments: Corn was lower. The main fundamental remains demand destruction caused by the lack of ethanol demand and the lack of feed demand. Both have been detrimentally affected by the Coronavirus. The virus has caused states to impose stay at home orders on its people, meaning no one is driving and consuming gas. Russia and Saudi Arabia have said that world Crude Oil production would be 10 million barrels a day less did little for the market as consumption is even less. Some states are starting to open now in the US but it is unclear if the people will move out and enjoy life as before. The experience in other countries suggests that the people will be very cautious in any activities and really not go out and spend money or hit the stores as before. Driving will be significantly less either way. Feed demand has been reduced as packers have been forced to shut plants down due to infected employees in the plants. President Trump signed an order forcing the plants to reopen with protections from lawsuits and with protections for employees, but it is unclear if the employees will go back to work at this time. Wholesale beef and pork prices are up sharply, but cattle and hog producers are seeing very cheap prices and are liquidating herds. The Corn demand has been significantly reduced. The prospect of a renewed trade war with China over Coronavirus concerns also was negative. President Trump has threatened to place tariffs on Chinese goods again on ideas that the virus started in a Chinese lab and the seriousness of the epidemic was underplayed by Chinese government.
Overnight News: Mexico bought 109,135 tons of US Corn.
Chart Analysis: Trends in Corn are mixed to down with no objectives. Support is at 308, 301, and 288 July, and resistance is at 317, 322, and 327 July. Trends in Oats are up with objectives of 294 July. Support is at 285, 281, and 278 July, and resistance is at 296, 302, and 306 July.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and products closed lower as the trade tensions with China resurfaced. Soybeans found support after some significant purchases from China. The news buoyed a market in search of demand. The demand has been slow otherwise with the significant competition from Brazil. The Real has weakened a lot against the US Dollar and Brazil producers can sell at very high prices in the local currency. Meanwhile, Soybean Meal demand has been supported by logistical issues in Argentina. The Parana River has been very low and ships are not able to load the full amount of Soybeans or products. Demand has shifted to the US and also to Brazil. Improving rains in southern Brazil and northern Argentina offer hope for improved logistics in the very near term. The export meal demand has helped keep the US crush very strong. Domestic meal demand has suffered along with the demand for Corn due to reduced feed demand caused by the Coronavirus and the problems it has caused feed operations. The prospect of a renewed trade war with China over Coronavirus concerns also was negative. President Trump has threatened to place tariffs on Chinese goods again on ideas that the virus started in a Chinese lab instead of in the open air market and the seriousness of the epidemic was underplayed by the Chinese.
Overnight News: China bought a total of 378,000 tons of US Soybeans for this year and next year combined.
Chart Analysis: Trends in Soybeans are mixed. Support is at 830, 818, and 812 July, and resistance is at 857, 861, and 868 July. Trends in Soybean Meal are mixed. Support is at 286.00, 283.00, and 280.00 July, and resistance is at 296.00, 298.00, and 301.00 July. Trends in Soybean Oil are mixed. Support is at 2560, 2510, and 2480 July, with resistance at 2670, 2820, and 2910 July.

CANOLA AND PALM OIL
General Comments: Palm Oil and Canola were higher. Palm Oil was hurt by the lack of bio fuels demand, but the demand loss appears to be part of the market price now. The same factors affecting ethanol demand are affecting demand for other bio fuels. People are driving less due to the Coronavirus and even reduced Crude Oil production has not been enough to lift prices to profitable levels for bio fuels producers. Palm Oil had found some support from reduced production potential in Southeast Asia as workers are affected by the Coronavirus. However, the threat of a renewed trade war between the US and China hurt demand ideas. Meanwhile, Canola found selling due to weakness in Chicago Soybeans and Soybean Oil.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 462.00, 459.00, and 455.00 July, with resistance at 468.00, 471.00, and 474.00 July. Trends in Palm Oil are mixed to down with objectives of 1970 and 1710 July. Support is at 1970, 1940, and 1910 July, with resistance at 2100, 2120, and 2180 July.

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

US Gulf Cash Basis
Corn HRW SRW Soybeans
Soybean Meal Soybean Oil
May
+47 May
+142 May
+58 May
+59 May
+12 May
N/A
June
+41 July
+54 July
+55 July

July
+41 July
+60 July
+60 July

DJ ICE Canada Cash Grain Close – May 4
WINNIPEG, May 4 (MarketsFarm) – The following are the closing
cash canola prices from ICE Futures. Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 453.20 -13.00 May 2020 up 3.50
Basis: Thunder Bay 473.60 10.00 May 2020 dn 2.60
Basis: Vancouver 488.60 25.00 May 2020 dn 2.60
All prices in Canadian dollars per metric ton.

DJ Malaysian PM Cash Market Prices for Palm Oil – May 5
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Tuesday, 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
May 517.50 -05.00 Unquoted – –
Jun 512.50 -05.00 Unquoted – –
Jul/Aug/Sep 492.50 -05.00 Unquoted – –
Oct/Nov/Dec 502.50 -02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
May 520.00 -05.00 Unquoted – –
Jun 515.00 -05.00 Unquoted – –
Jul/Aug/Sep 495.00 -05.00 Unquoted – –
Oct/Nov/Dec 505.00 -02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
May 540.00 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
May 505.00 -05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 2,080.00 -50.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 152.00 -01.00 Unquoted – –
($1=MYR4.305)


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