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WHEAT General Comments: Winter Wheat markets were higher in all three markets as the weather forecasts turned drier in the northern Great Plains. Spring Wheat areas of the US and Canada should be hot and dry for the next several days, but then some showers are possible in the region, but mostly in Canada. Showers and rains were seen in parts of Western Texas and in Oklahoma. More showers are in the forecast in western Texas. Some rains would be very beneficial for planting and initial growth of the Spring Wheat while the drier but still wet weather would help Winter Wheat crops. Demand remains disappointing but the production might not be there for better demand in the coming year. Corn prices are high so demand for feed wheat could increase. Overnight News: The southern Great Plains should get mostly dry conditions. Temperatures should be near to above normal. Northern areas should see mostly dry conditions. 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 to up with objectives of 719 and 759 July. Support is at 669, 667, and 658 July, with resistance at 702, 707, and 718 July. Trends in Kansas City are mixed. Support is at 618, 606, and 588 July, with resistance at 647, 653, and 677 July. Trends in Minneapolis are up with no objectives. Support is at 780, 761, and 738 July, and resistance is at 824, 830, and 836 July. COT — Supplemental Report – Option and Futures Combined Positions as of June 01, 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 510,166 : Positions : : 42,535 79,584 178,777 58,699 171,130 199,511 39,165 479,522 468,656: 30,644 41,510 : Changes from: May 25, 2021 (Change in open interest: -268) : : -5,178 -6,445 -63 3,055 4,589 492 2,384 -1,694 465: 1,426 -733 : Percent of Open Interest Represented by Each Category of Trader : : 8.3 15.6 35.0 11.5 33.5 39.1 7.7 94.0 91.9: 6.0 8.1 : Total Traders: 346 Number of Traders in Each Category : : 73 97 110 75 112 45 18 263 273: ——————————————————————————————————————- COT — Supplemental Report – Option and Futures Combined Positions as of June 01, 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 240,969 : Positions : : 43,158 38,529 51,783 51,136 114,950 76,371 13,767 222,449 219,029: 18,520 21,940 : Changes from: May 25, 2021 (Change in open interest: -3,362) : : -3,300 449 -2,822 3,028 345 -1,157 505 -4,251 -1,524: 889 -1,838 : Percent of Open Interest Represented by Each Category of Trader : : 17.9 16.0 21.5 21.2 47.7 31.7 5.7 92.3 90.9: 7.7 9.1 : Total Traders: 231 Number of Traders in Each Category : : 44 40 60 72 80 34 17 183 175: ——————————————————————————————————————- Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 1, 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 85,185 : : Positions : : 32,933 59,782 3,707 0 1,121 14,320 858 1,948 3,039 1,978 6,741 : : Changes from: May 25, 2021 : : 35 1,505 -658 0 86 -1,484 -277 233 -724 198 930 : : Percent of Open Interest Represented by Each Category of Trader : : 38.7 70.2 4.4 0.0 1.3 16.8 1.0 2.3 3.6 2.3 7.9 : : Number of Traders in Each Category Total Traders: 109 : : 49 49 5 0 . 15 . . 10 7 10 : —————————————————————————————————————- Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 1, 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 23,480 : : Positions : : 4,508 19,494 1,611 500 886 12,165 0 1,069 1,782 853 227 : : Changes from: May 25, 2021 : : 828 -61 274 -356 -124 -3,913 0 779 1,782 -317 -142 : : Percent of Open Interest Represented by Each Category of Trader : : 19.2 83.0 6.9 2.1 3.8 51.8 0.0 4.6 7.6 3.6 1.0 : : Number of Traders in Each Category Total Traders: 30 : : 9 16 . . . 5 0 . . . . : —————————————————————————————————————- RICE General Comments: Rice prices were little changed in slow trading last week. Moderate precipitation and warmer temperatures are forecast for US growing areas. Rice areas have generally been wet and northern areas have been cool. Louisiana and parts of Texas are saturated. Warm temperatures are finally spreading north into Arkansas and Missouri and the crop progress is improving. Texas and Louisiana are almost out of Rice, but there is Rice available in the other states, especially Arkansas. Milling interest in Rice is said to be slow. Overnight News: The Delta should get mostly dry conditions. Temperatures should be above normal. Chart Analysis: Trends are mixed. Support is at 1320, 1311, and 1309 July, with resistance at 1338, 1344, and 1347 July. Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 1, 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 9,237 : : Positions : : 5,205 6,217 147 100 0 935 654 0 622 1,059 527 : : Changes from: May 25, 2021 : : -73 -248 -5 0 0 -219 128 0 3 -15 -29 : : Percent of Open Interest Represented by Each Category of Trader : : 56.3 67.3 1.6 1.1 0.0 10.1 7.1 0.0 6.7 11.5 5.7 : : Number of Traders in Each Category Total Traders: 48 : : 13 17 . . 0 6 . 0 8 7 6 : —————————————————————————————————————- CORN AND OATS: General Comments: Corn and Oats closed higher as forecasts for the Midwest changed for the second time last week. Hot and dry weather is forecast for the Great Plains and Midwest this week and hot and dry conditions continue in central and northern Brazil. Some showers are now in the forecast for the Midwest in the second week. Longer range forecasts released by NWS call for warmer and drier weather for many important US growing areas this Summer. There are problems with the production potential for the Safrinha crop in Brazil as growing areas have been warm and dry and look to stay that way longer term. Reports indicate that crops are being stressed due to the lack of rain. It is drier in central and parts of northern Brazil, but southern Safrinha areas got some timely and somewhat beneficial precipitation last week. Overnight News: Chart Analysis: Trends in Corn are mixed. Support is at 666, 653, and 637 July, and resistance is at 697, 703, and 718 July. Trends in Oats are up with objectives of 402, 416, and 448 July. Support is at 387, 378, and 375 July, and resistance is at 400, 406, and 423 July. COT — Supplemental Report – Option and Futures Combined Positions as of June 01, 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 2,527,672 : Positions : : 304,012 53,380 672,653 741,624 1,400,499 588,014 154,998 2,306,303 2,281,529: 221,369 246,142 : Changes from: May 25, 2021 (Change in open interest: 94,405) : : 7,926 -9,813 48,736 1,652 40,274 16,146 13,048 74,459 92,245: 19,946 2,160 : Percent of Open Interest Represented by Each Category of Trader : : 12.0 2.1 26.6 29.3 55.4 23.3 6.1 91.2 90.3: 8.8 9.7 : Total Traders: 896 Number of Traders in Each Category : : 207 107 192 412 466 53 25 756 715: ——————————————————————————————————————- Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 1, 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 4,325 : : Positions : : 1,240 3,315 201 0 0 147 206 0 671 3 152 : : Changes from: May 25, 2021 : : -99 89 67 0 0 -40 15 0 -78 -1 89 : : Percent of Open Interest Represented by Each Category of Trader : : 28.7 76.7 4.6 0.0 0.0 3.4 4.8 0.0 15.5 0.1 3.5 : : Number of Traders in Each Category Total Traders: 22 : : 8 8 . 0 0 . . 0 . . . : —————————————————————————————————————- SOYBEANS General Comments: Soybeans and the products were higher on Friday and Soybeans and Soybean Oil were higher for the week. Soybean Meal closed near unchanged for the week. Forecasts for hot and dry weather this week in the Midwest and Great Plains but showers are in the forecast for later this week. China should start with new US Soybeans purchases soon for Fall delivery and reports indicate they are now asking for offers. The longer range forecasts from NWS call for warmer and drier than normal conditions for most Soybeans areas of the US. There is still crush demand and a little export demand even though the demand is less now than before. The US does not have a lot of Soybeans in the country anymore as most producers have already sold. Buyers are scrambling for what is left. Brazil is rapidly exporting Soybeans. Overnight News: Chart Analysis: Trends in Soybeans are up with objectives of 1620, 1685, and 1720 July. Support is at 1542, 1538, and 1525 July, and resistance is at 1589, 1610, and 1640 July. Trends in Soybean Meal are mixed. Support is at 389.00, 386.00, and 378.00 July, and resistance is at 396.00, 404.00, and 407.00 July. Trends in Soybean Oil are mixed to up with objectives of 6950 and 7160 July. Support is at 6870, 6720, and 6620 July, with resistance at 7210, 7280, and 7340 July. COT — Supplemental Report – Option and Futures Combined Positions as of June 01, 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 1,165,736 : Positions : : 135,389 44,007 340,144 342,029 613,634 272,322 86,822 1,089,884 1,084,607: 75,852 81,129 : Changes from: May 25, 2021 (Change in open interest: 23,660) : : 1,992 -1,952 18,165 -7,420 3,564 2,280 4,455 15,017 24,232: 8,643 -572 : Percent of Open Interest Represented by Each Category of Trader : : 11.6 3.8 29.2 29.3 52.6 23.4 7.4 93.5 93.0: 6.5 7.0 : Total Traders: 638 Number of Traders in Each Category : : 195 91 180 217 265 51 17 530 497: ——————————————————————————————————————- COT — Supplemental Report – Option and Futures Combined Positions as of June 01, 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 650,311 : Positions : : 87,826 31,006 176,548 178,970 381,506 159,489 31,478 602,832 620,537: 47,478 29,774 : Changes from: May 25, 2021 (Change in open interest: 30,383) : : 3,273 -215 14,342 6,891 14,079 2,815 1,175 27,321 29,381: 3,062 1,002 : Percent of Open Interest Represented by Each Category of Trader : : 13.5 4.8 27.1 27.5 58.7 24.5 4.8 92.7 95.4: 7.3 4.6 : Total Traders: 321 Number of Traders in Each Category : : 105 32 95 95 106 41 16 281 226: ——————————————————————————————————————- COT — Supplemental Report – Option and Futures Combined Positions as of June 01, 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 457,200 : Positions : : 39,394 27,192 89,086 150,196 293,441 120,019 19,695 398,695 429,414: 58,505 27,786 : Changes from: May 25, 2021 (Change in open interest: 291) : : -4,246 -1,653 2,275 1,143 -3,116 1,437 2,513 610 19: -318 272 : Percent of Open Interest Represented by Each Category of Trader : : 8.6 5.9 19.5 32.9 64.2 26.3 4.3 87.2 93.9: 12.8 6.1 : Total Traders: 260 Number of Traders in Each Category : : 53 46 73 103 96 37 15 237 194: ——————————————————————————————————————- CANOLA AND PALM OIL General Comments: Palm Oil was lower last week. It was closed today for aw holiday. There are fears of global shortages of vegetable oils now. Demand has been less so far this month and the market fears the loss of Indian demand due to the big Coronavirus outbreak in India that could cut demand. However, prices are very high in India and imports are needed. Ideas of tight supplies are still around but supplies are expected to increase in the short term. Canola was in a trading range on forecasts for wetter weather in growing areas agains some showers reported in growing areas last week. Weakening demand ideas were negative for prices as were ideas that the Canadian Dollar is ready to move much higher. Demand is thought to be OK with crush margins favoring a lot of production of vegetable oils to feed the demand but less exports. The demand for bio fuels is about to increase and is one reason to see much stronger Soybean Oil and Canola prices. Overnight News: Chart Analysis: Trends in Canola are mixed. Support is at 848.00, 837.00, and 828.00 July, with resistance at 920.00, 962.00, and 966.00 July. Trends in Palm Oil are up with objectives of 4390 and 5620 July. Support is at 4110, 3970, and 3850 August, with resistance at 4200, 4320, and 4420 August. Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 1, 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 232,632 : : Positions : : 155,920 170,963 264 3,762 7,648 31,257 4,582 11,408 3,546 12,176 19,900 : : Changes from: May 25, 2021 : : 2,719 6,156 76 -1,360 927 -247 -722 368 544 -431 605 : : Percent of Open Interest Represented by Each Category of Trader : : 67.0 73.5 0.1 1.6 3.3 13.4 2.0 4.9 1.5 5.2 8.6 : : Number of Traders in Each Category Total Traders: 290 : : 54 75 . 6 4 42 11 12 43 91 38 : —————————————————————————————————————- Midwest Weather Forecast: mostly dry. Temperatures should average above normal. US Gulf Cash Basis Corn HRW SRW Soybeans Soybean Meal Soybean Oil May +97 July +160 May +95 May +74 May June +88 July +60 July +85 July July +63 July +65 July +71 July DJ ICE Canada Cash Grain Close – Jun 4 WINNIPEG — The following are the closing cash canola prices from ICE Futures. Source: ICE Futures Price Basis Contract Change CANOLA *Par Region 893.70 3.90 Jul 2021 dn 6.30 Basis: Thunder Bay 853.60 90.00 Nov 2021 up 19.90 Basis: Vancouver 868.60 105.00 Nov 2021 up 19.90 All prices in Canadian dollars per metric tonne. *Quote for previous day Source: Commodity News Service Canada ([email protected], 204-414-9084, or cell 204-782-5944) DJ China Dalian Grain Futures Closing Prices, Volume – Jun 07 Soybean No. 1 Turnover: 176,421 lots, or 10.42 billion yuan Open High Low Close Prev. Settle Ch. Vol Open Settle Interest Jul-21 5,839 5,890 5,836 5,863 5,801 5,866 65 326 2,309 Sep-21 5,900 5,945 5,864 5,909 5,851 5,901 50 147,192 92,774 Nov-21 5,904 5,960 5,892 5,937 5,873 5,927 54 20,556 25,265 Jan-22 5,948 5,988 5,913 5,959 5,905 5,947 42 6,134 12,510 Mar-22 5,977 6,016 5,944 5,984 5,919 5,973 54 2,077 8,070 May-22 6,015 6,020 5,964 5,975 5,970 6,002 32 136 366 Corn Turnover: 679,169 lots, or 18.40 billion yuan Open High Low Close Prev. Settle Ch. Vol Open Settle Interest Jul-21 2,737 2,754 2,722 2,731 2,740 2,737 -3 27,855 40,145 Sep-21 2,725 2,735 2,699 2,705 2,716 2,714 -2 502,249 545,309 Nov-21 2,674 2,690 2,660 2,671 2,671 2,673 2 62,494 213,545 Jan-22 2,683 2,703 2,675 2,685 2,685 2,687 2 55,515 138,979 Mar-22 2,695 2,706 2,680 2,687 2,690 2,692 2 29,651 37,989 May-22 2,694 2,700 2,676 2,681 2,684 2,687 3 1,405 5,047 Soymeal Turnover: 1,560,361 lots, or 5.61 billion yuan Open High Low Close Prev. Settle Ch. Vol Open Settle Interest Jul-21 3,458 3,535 3,458 3,525 3,451 3,508 57 34,929 74,191 Aug-21 3,549 3,628 3,548 3,618 3,550 3,595 45 11,533 16,880 Sep-21 3,555 3,633 3,549 3,622 3,550 3,599 49 1,180,858 1,260,414 Nov-21 3,558 3,641 3,558 3,632 3,558 3,611 53 29,586 22,342 Dec-21 3,559 3,649 3,559 3,639 3,559 3,617 58 4,788 10,950 Jan-22 3,566 3,638 3,560 3,621 3,560 3,608 48 246,071 410,429 Mar-22 3,430 3,490 3,422 3,472 3,427 3,452 25 42,934 204,383 May-22 3,370 3,434 3,363 3,416 3,366 3,401 35 9,662 18,806 Palm Oil Turnover: 914,531 lots, or 73.14 billion yuan Open High Low Close Prev. Settle Ch. Vol Open Settle Interest Jun-21 – – – 9,280 9,280 9,280 0 0 0 Jul-21 8,822 8,822 8,522 8,558 8,602 8,604 2 14 255 Aug-21 8,212 8,232 8,124 8,232 8,228 8,192 -36 4 108 Sep-21 8,026 8,180 7,910 7,964 8,006 8,020 14 819,156 386,765 Oct-21 7,926 8,082 7,848 7,920 7,928 7,962 34 14,271 23,094 Nov-21 7,862 8,032 7,796 7,882 7,862 7,912 50 5,790 26,923 Dec-21 7,780 7,964 7,730 7,802 7,780 7,844 64 5,695 35,210 Jan-22 7,720 7,896 7,628 7,694 7,664 7,746 82 59,423 68,464 Feb-22 7,644 7,792 7,542 7,628 7,580 7,666 86 6,175 4,558 Mar-22 7,642 7,786 7,520 7,606 7,550 7,654 104 1,150 1,956 Apr-22 7,570 7,790 7,436 7,628 7,520 7,654 134 597 1,397 May-22 7,578 7,808 7,462 7,614 7,496 7,710 214 2,256 1,971 Soybean Oil Turnover: 1,074,390 lots, or 9.69 billion yuan Open High Low Close Prev. Settle Ch. Vol Open Settle Interest Jul-21 9,472 9,616 9,406 9,450 9,472 9,532 60 143 1,024 Aug-21 9,056 9,522 9,056 9,228 9,094 9,270 176 32 330 Sep-21 8,988 9,222 8,926 9,006 8,986 9,048 62 935,099 514,790 Nov-21 8,790 9,052 8,774 8,884 8,810 8,930 120 25,856 37,062 Dec-21 8,756 8,962 8,712 8,828 8,756 8,844 88 5,583 58,874 Jan-22 8,672 8,940 8,648 8,772 8,686 8,804 118 103,867 93,466 Mar-22 8,552 8,736 8,478 8,660 8,478 8,654 176 2,741 8,233 May-22 8,298 8,578 8,296 8,520 8,288 8,478 190 1,069 1,739 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. This content was automatically published based on data and/or text from the original source. For feedback, write to [email protected] -

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