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 lock downs 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 lock down 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. ([email protected]; @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 ([email protected], 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.