DJ CBOT Delivery Intentions: Totals – Aug 14
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL August Aug. 17, 2020 109 Aug 13, 2020
SOYBEAN OIL August Aug. 17, 2020 241 Jul 30, 2020
SOYBEAN August Aug. 17, 2020 36 Aug 05, 2020

WHEAT
General Comments: Winter Wheat markets were higher in sympathy with the rallies in Corn and Soybeans and on a weaker US Dollar. USDA showed higher world production estimates to go along with higher US production estimates. Russian Wheat is now hitting the domestic market and prices are lower. Production estimates have improved as the harvest has moved into areas that enjoyed better weather. Spring Wheat was developing under good growing conditions in both the US and Canada. Yield reports from the central and southern Great Plains have been variable, but generally a little better than expected. Soft Red Winter yields are high. The Winter Wheat markets are in down trends on the weekly charts. It is still dry in France and Russia and now Spring Wheat areas of Russia are being affected. Russian Winter Wheat yields have improved over time as harvesters move into areas that had better growing conditions. Australia remains in good condition. About half of the Argentine Wheat belt is too dry.
Overnight News: The southern Great Plains should get mostly dry conditions. Temperatures should be above 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. Egypt bought 415,000 tons of Russian Wheat
Chart Analysis: Trends in Chicago are mixed. Support is at 486, 471, and 455 September, with resistance at 500, 508, and 515 September. Trends in Kansas City are mixed to up with objectives of 433 and 444 September. Support is at 420, 410, and 404 September, with resistance at 438, 440, and 455 September. Trends in Minneapolis are mixed to up with objectives of 502, 509, and 522 September. Support is at 495, 491, and 486 September, and resistance is at 508, 512, and 520 September.

RICE
General Comments Rice was a little lower in consolidation trading. The USDA reports from Wednesday still were the talk of the trade. USDA showed reduced yield potential for the crop, but also reduced domestic and export demand. Ending stocks were still increased as the average farm price was unchanged. Even so, the market Was able to rally as the trade had anticipated more bearish estimates from USDA. New crop prospects appear solid for increased production in the coming year. The area is larger and the growing conditions are mostly good. The crops are called in good condition in Mississippi, Arkansas, and Missouri. Texas and southern Louisiana field yield reports are strong. Export demand for the new crop Rice has been slow to develop as buyers wait for lower prices.
Overnight News: The Delta should get scattered showers. Temperatures should be near to below normal.
Chart Analysis: Trends are mixed. Support is at 1166, 1150, and 1146 September, with resistance at 1182, 1191, and 1200 September.

CORN AND OATS
General Comments Corn was sharply higher in reaction to the USDA/FSA reports. USDA/FSA showed less than expected certified acreage in its reports released after the close yesterday. FSA cautioned that the data was very incomplete due to restrictions imposed by the Coronavirus, but the speculative community took the data as an accurate reflection of how much got planted. FSA said that 81.1 million acres were enrolled which is 7 million below the estimate needed to confirm the NASS projections in the production estimates. It said that 5.4 million acres fell into the prevent plant category, a high number. A major storm hit Iowa and northern Illinois on Tuesday. A Derecho brought big winds and flattened Corn crops while leaving Soybeans twisted. It even brought a tornado to the far north side of Chicago and brought significant damage wherever it hit. The total amount of Corn and Soybeans lost remains unknown.
Overnight News:
Chart Analysis: Trends in Corn are up with objectives of 331 and 365 September. Support is at 322, 319, and 315 September, and resistance is at 330, 338, and 340 September. Trends in Oats are down with objectives of 249 September. Support is at 260, 258, and 257 September, and resistance is at 268, 272, and 277 September.

SOYBEANS AND PRODUCTS
General Comments: Soybeans were sharply higher in reaction to the USDA/FSA reports. USDA/FSA showed less than expected certified acreage in its reports released after the close yesterday. FSA cautioned that the data was very incomplete due to restrictions imposed by the Coronavirus, but the speculative community took the data as an accurate reflection of how much got planted. FSA said that 75.9 million acres were enrolled which is 6 million below the estimate needed to confirm the NASS projections in the production estimates. It said that 1.2 million acres fell into the prevent plant category. A major storm hit Iowa and northern Illinois on Tuesday. A Derecho brought big winds and flattened Corn crops while leaving Soybeans twisted. It even brought a tornado to the far north side of Chicago and brought significant damage wherever it hit. The total amount of Corn and Soybeans lost remains unknown but prices have not really been affected by the storm yet.
Overnight News: China bought 126,000 tons of US Soybeans
Chart Analysis: Trends in Soybeans are up with objectives of 914 September. Support is at 888, 880, and 873 September, and resistance is at 904, 905, and 909 September. Trends in Soybean Meal are up with objectives of 295.00 September. Support is at 292.00, 290.00, and 287.00 September, and resistance is at 295.00, 298.00, and 300.00 September. Trends in Soybean Oil are mixed to up with objectives of 3270 and 3290 September. Support is at 3100, 3050, and 2980 September, with resistance at 3180, 3190, and 3200 September.

CANOLA AND PALM OIL
General Comments: Palm Oil was higher this morning on ideas of improving demand. Ideas are that importers are buying to replenish stocks. Flooding and a lack of workers for the plantations have been the reasons to see less production. 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 closed higher with Chicago price action, but did not rally like Soybeans due to weakness in Soybean Oil and strength in the Canadian Dollar. The strength in the Canadian Dollar is more about weakness in the US Dollar than anything going on in Canada. Crop conditions are mostly good and farmers have been selling old crop supplies. The weather has been warmer the past couple of weeks and most areas have seen rain.
Overnight News:
Chart Analysis: Trends in Canola are mixed to down with objectives of 448.00 November. Support is at 481.00, 480.00, and 476.00 November, with resistance at 486.00, 489.00, and 491.00 November. Trends in Palm Oil are mixed. Support is at 2690, 2610, and 2560 October, with resistance at 2780, 2810, and 2850 October.

Midwest Weather Forecast: Periods of showers in all areas. Temperatures should average below normal

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
August +53 Sep +137 Sep +58 Sep +73 Nov N/A N/A
September +55 Sep +60 Sep +73 Nov
October +48 Dec +65 Dec +72 Nov

DJ ICE Canada Cash Grain Close – Aug 13
WINNIPEG, Aug. 13 (MarketsFarm) – The following are the closing
cash canola prices from ICE Futures. Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 450.40 -13.00 Nov 2020 up 1.40
Basis: Thunder Bay 499.70 15.00 Nov 2020 up 0.30
Basis: Vancouver 510.70 25.00 Nov 2020 up 0.30
All prices in Canadian dollars per metric ton.

DJ Malaysian PM Cash Market Prices for Palm Oil – Aug 14
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Friday, 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
Aug 710.00 -12.50 Unquoted – –
Sept 700.00 -10.00 Unquoted – –
Oct/Nov/Dec 662.50 0.00 Unquoted – –
Jan/Feb/Mar 642.50 0.00 Unquoted – –
Apr/May/Jun 632.50 0.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 712.50 -12.50 Unquoted – –
Sept 702.50 -10.00 Unquoted – –
Oct/Nov/Dec 665.00 0.00 Unquoted – –
Jan/Feb/Mar 645.00 0.00 Unquoted – –
Apr/May/Jun 635.00 0.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 700.00 0.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Aug 615.00 0.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 2,820.00 -30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 179.00 -01.00 Unquoted – –
($1=MYR4.1903)

DJ China Dalian Grain Futures Closing Prices, Volume – Aug 14
Soybean No. 1
Turnover: 174,249 lots, or 7.92 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-20 4,680 4,728 4,653 4,700 4,689 4,694 5 105,509 74,594
Nov-20 4,291 4,359 4,291 4,328 4,291 4,322 31 5,761 4,072
Jan-21 4,284 4,338 4,280 4,315 4,289 4,311 22 60,079 72,079
Mar-21 4,296 4,342 4,296 4,314 4,290 4,316 26 838 471
May-21 4,290 4,349 4,286 4,328 4,298 4,320 22 1,075 4,506
Jul-21 4,299 4,342 4,299 4,317 4,298 4,321 23 987 431
Corn
Turnover: 1,712,197 lots, or 38.93 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-20 2,210 2,270 2,210 2,264 2,216 2,245 29 106,308 102,928
Nov-20 2,228 2,290 2,228 2,280 2,226 2,265 39 54,552 55,940
Jan-21 2,227 2,301 2,225 2,296 2,227 2,272 45 1,391,064 1,136,517
Mar-21 2,251 2,324 2,251 2,320 2,252 2,293 41 20,773 11,962
May-21 2,264 2,334 2,260 2,331 2,263 2,306 43 122,098 319,268
Jul-21 2,290 2,358 2,290 2,353 2,288 2,330 42 17,402 33,574
Soymeal
Turnover: 1,414,675 lots, or 40.68 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-20 – – – 2,932 2,949 2,932 -17 0 0
Sep-20 2,845 2,865 2,841 2,851 2,826 2,852 26 190,627 334,593
Nov-20 2,878 2,902 2,876 2,885 2,861 2,889 28 78,588 64,271
Dec-20 2,898 2,922 2,892 2,899 2,864 2,907 43 47,644 7,306
Jan-21 2,891 2,917 2,885 2,895 2,866 2,899 33 963,009 1,305,283
Mar-21 2,756 2,776 2,751 2,760 2,743 2,763 20 1,972 8,973
May-21 2,715 2,733 2,711 2,722 2,702 2,721 19 132,798 734,595
Jul-21 2,744 2,750 2,733 2,744 2,723 2,742 19 37 707
Palm Oil
Turnover: 900,040 lots, or 51.23 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-20 – – – 5,748 5,748 5,748 0 0 0
Sep-20 5,842 5,868 5,782 5,830 5,802 5,824 22 231,972 126,657
Oct-20 5,776 5,776 5,716 5,728 5,716 5,746 30 18,905 9,468
Nov-20 5,738 5,742 5,682 5,692 5,682 5,712 30 7,252 5,006
Dec-20 5,690 5,706 5,646 5,652 5,646 5,672 26 8,374 1,511
Jan-21 5,664 5,676 5,608 5,622 5,612 5,642 30 628,634 330,663
Feb-21 5,598 5,598 5,536 5,578 5,544 5,560 16 5 118
Mar-21 5,684 5,684 5,586 5,586 5,606 5,634 28 2 19
Apr-21 – – – 5,556 5,556 5,556 0 0 152
May-21 5,570 5,590 5,520 5,538 5,536 5,558 22 4,892 20,549
Jun-21 – – – 5,602 5,602 5,602 0 0 2
Jul-21 5,612 5,612 5,518 5,518 5,510 5,564 54 4 4
Soybean Oil
Turnover: 679,299 lots, or 43.34 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-20 – – – 6,086 6,086 6,086 0 0 0
Sep-20 6,420 6,448 6,376 6,390 6,364 6,408 44 95,601 96,348
Nov-20 6,442 6,478 6,396 6,416 6,386 6,426 40 17,303 10,918
Dec-20 6,420 6,458 6,378 6,388 6,366 6,408 42 12,509 4,081
Jan-21 6,400 6,428 6,350 6,362 6,346 6,378 32 526,567 560,458
Mar-21 6,336 6,376 6,296 6,308 6,298 6,324 26 8,981 503
May-21 6,250 6,272 6,198 6,224 6,192 6,230 38 18,334 86,709
Jul-21 6,220 6,274 6,220 6,254 6,224 6,244 20 4 5
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.