Top Managed Futures News, Listings, Member Posts, Managed Futures Daily Indices and more!

3yrs ago Managed Futures blog.pricegroup Views: 400

WHEAT
General Comments: Winter Wheat markets were higher on ideas that China was buying US Wheat at the PNW. Chicago SRW was the market leader on increased speculative buying. The demand would be welcome as US prices remain high in the world market. Europe remains high priced due to drought in France, but improving yield reports in Russia have hurt prices in the Black Sea. 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. Russian Winter Wheat yields have improved over time as harvesters move into areas that had better growing conditions, but Spring Wheat yields are expected to be variable due to declining crop conditions in those growing areas. Australia remains in good condition. About half of the Argentine Wheat belt is too dry.
Overnight News: The southern Great Plains should get isolated showers. Temperatures should be above normal. Northern areas should see scattered showers. Temperatures will average near to above normal. The Canadian Prairies should see isolated showers. Temperatures should average near to above normal.
Chart Analysis: Trends in Chicago are up with objectives of 565 September. Support is at 507, 497, and 488 September, with resistance at 524, 540, and 544 September. Trends in Kansas City are up with objectives of 444 and 524 September. Support is at 426, 420, and 406 September, with resistance at 458, 464, and 468 September. Trends in Minneapolis are mixed to up with objectives of 522 September. Support is at 500, 495, and 492 September, and resistance is at 516, 520, and 528 September.

RICE
General Comments Rice was higher. The daily charts show that futures have moved to new high and imply that higher prices are coming. Increased production is forecast for 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, but it has been dry in the mid south. 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. Domestic demand has also been less. It looks like many buyers bought and hoarded Rice during the pandemic and are now full of supplies. China has warned its domestic consumers not to waste food due to the reduced pork production and also due to reduced Rice production. However, it announced that early Rice yields were high and total early Rice production was high.
Overnight News: The Delta should get scattered showers. Temperatures should be near to below normal.
Chart Analysis: Trends are mixed to up with objectives of 1257, 1290, and 1310 September. Support is at 1204, 1190, and 1185 September, with resistance at 1224, 1236, and 1248 September.

CORN AND OATS
General Comments Corn was slightly lower as the Pro Farmer crop tour made its way through Iowa and Minnesota. Iowa crops showed damage from the drought and the derecho. There is much more variability in the yield forecasts and pod counts although Soybeans appear to be in better condition than the Corn. Some silos and other storage and processing facilities were damaged or destroyed. It is not known how much of the Corn can recover. Minnesota crops looked great and yield estimates were very high. Corn in surrounding areas looks good and USDA called for record yield potential in its reports last week. These ideas are now in doubt due to the derecho and the losses it caused.
Overnight News: China bought 405,000 tons of US Corn yesterday.
Chart Analysis: Trends in Corn are mixed. Support is at 321, 319, and 314 September, and resistance is at 332, 335, and 338 September. Trends in Oats are mixed to up with objectives of 283 and 305 September. Support is at 268, 265, and 264 September, and resistance is at 276, 278, and 280 September.

SOYBEANS AND PRODUCTS
General Comments: Soybeans were lower on the positive crop tour results from Pro Farmer and the lack of new demand from China. China has been a very strong buyer of US new crop Soybeans and the US now has record sales on the books. Brazil prices are 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 for additional supplies. The US weather is considered mixed for Soybeans with cooler temperatures and some rain in the north, but dry conditions further to the south. The Pro Farmer Crop Tour has seen fair to good crops in Iowa good to very good Soybeans crops in Minnesota. The Soybean fields all appear clean and the pod cunts have been generally at or above the three year tour average until now.
Overnight News: Unknown destinations bought 368,000 tons of US Soybeans yesterday. China bought 400,000 tons of US Soybeans.
Chart Analysis: Trends in Soybeans are mixed. Support is at 898, 888, and 880 September, and resistance is at 915, 918, and 920 September. Trends in Soybean Meal are mixed to up with no objectives. Support is at 294.00, 290.00, and 287.00 September, and resistance is at 299.00, 301.00, and 302.00 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 3170, 3180, and 3220 September.

CANOLA AND PALM OIL
General Comments: Palm Oil was lower on the dismal export pace so far this month. Wire reports from Indonesia last week highlighted more than 8% less production and 7% esports from that country. Flooding and a lack of workers for the plantations have been the reasons to see less production in Malaysia. Palm Oil has been getting 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 lower on Chicago price action and a stronger 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. Support is at 481.00, 480.00, and 476.00 November, with resistance at 488.00, 491.00, and 497.00 November. Trends in Palm Oil are mixed to up with objectives of 2810 and 2900 November. Support is at 2710, 2650, and 2570 November, with resistance at 2760, 2790, and 2785 November.

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

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
August +56 Sep +135 Sep +54 Sep +82 Nov N/A N/A
September +56 Sep +64 Sep +73 Nov
October +50 Dec +64 Dec +69 Nov

DJ ICE Canada Cash Grain Close – Aug 20
WINNIPEG — The following are the closing cash
canola prices from ICE Futures.
Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 452.80 -35.00 Nov 2020 dn 0.10
Basis: Thunder Bay 495.00 12.00 Nov 2020 dn 4.80
Basis: Vancouver 506.00 23.00 Nov 2020 dn 6.90
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 Malaysian PM Cash Market Prices for Palm Oil – Aug 21
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
Sept 707.50 -05.00 Unquoted – –
Oct/Nov/Dec 667.50 -15.00 Unquoted – –
Jan/Feb/Mar 655.00 -12.50 Unquoted – –
Apr/May/Jun 642.50 -15.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Sept 710.00 -05.00 Unquoted – –
Oct/Nov/Dec 670.00 -15.00 Unquoted – –
Jan/Feb/Mar 657.50 -12.50 Unquoted – –
Apr/May/Jun 645.00 -15.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Sept 707.50 -02.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Sept 630.00 0.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sept 2,810.00 -30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sept 183.00 +01.00 Unquoted – –
($1=MYR4.1765)

DJ China Dalian Grain Futures Closing Prices, Volume – Aug 21
Soybean No. 1
Turnover: 240,362 lots, or 10.85 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-20 4,650 4,661 4,630 4,646 4,635 4,645 10 18,178 26,071
Nov-20 4,488 4,510 4,435 4,465 4,469 4,476 7 7,589 5,674
Jan-21 4,505 4,538 4,466 4,488 4,499 4,504 5 210,000 142,860
Mar-21 4,519 4,535 4,475 4,498 4,529 4,501 -28 655 692
May-21 4,541 4,566 4,498 4,515 4,522 4,532 10 2,263 4,748
Jul-21 4,545 4,560 4,495 4,515 4,535 4,530 -5 1,677 422
Corn
Turnover: 765,719 lots, or 17.61 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-20 2,270 2,270 2,245 2,246 2,257 2,252 -5 17,656 39,859
Nov-20 2,283 2,294 2,265 2,275 2,281 2,274 -7 69,317 55,334
Jan-21 2,310 2,318 2,284 2,300 2,305 2,298 -7 595,479 1,171,082
Mar-21 2,337 2,342 2,311 2,326 2,330 2,323 -7 13,293 12,537
May-21 2,352 2,356 2,326 2,340 2,343 2,337 -6 60,983 346,177
Jul-21 2,367 2,382 2,352 2,368 2,369 2,363 -6 8,991 40,829
Soymeal
Turnover: 1,110,681 lots, or 31.69 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-20 2,844 2,844 2,810 2,835 2,848 2,825 -23 62,812 129,526
Nov-20 2,868 2,870 2,840 2,861 2,880 2,853 -27 50,665 69,908
Dec-20 2,892 2,892 2,855 2,879 2,900 2,870 -30 34,757 8,009
Jan-21 2,895 2,897 2,863 2,885 2,907 2,879 -28 797,082 1,361,180
Mar-21 2,781 2,783 2,760 2,779 2,789 2,770 -19 5,623 9,691
May-21 2,743 2,743 2,721 2,740 2,748 2,733 -15 159,558 712,122
Jul-21 2,759 2,759 2,746 2,758 2,769 2,756 -13 153 629
Aug-21 2,778 2,805 2,778 2,791 2,798 2,791 -7 31 77
Palm Oil
Turnover: 923,271 lots, or 51.95 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-20 5,840 5,868 5,796 5,842 5,924 5,832 -92 73,604 36,843
Oct-20 5,824 5,834 5,768 5,782 5,886 5,798 -88 23,162 10,639
Nov-20 5,706 5,734 5,664 5,688 5,790 5,690 -100 15,490 5,122
Dec-20 5,632 5,680 5,592 5,628 5,724 5,632 -92 15,340 1,570
Jan-21 5,610 5,650 5,554 5,606 5,704 5,602 -102 783,964 376,891
Feb-21 – – – 5,694 5,694 5,694 0 0 119
Mar-21 5,576 5,576 5,576 5,576 5,788 5,576 -212 16 20
Apr-21 – – – 5,590 5,590 5,590 0 0 152
May-21 5,550 5,566 5,480 5,524 5,612 5,520 -92 11,695 33,484
Jun-21 – – – 5,668 5,668 5,668 0 0 2
Jul-21 – – – 5,618 5,696 5,618 -78 0 5
Aug-21 – – – 5,596 5,688 5,596 -92 0 0
Soybean Oil
Turnover: 610,030 lots, or 38.92 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-20 6,430 6,440 6,348 6,400 6,470 6,398 -72 28,639 38,539
Nov-20 6,430 6,498 6,396 6,450 6,522 6,448 -74 42,023 11,410
Dec-20 6,416 6,438 6,348 6,414 6,476 6,396 -80 8,662 3,903
Jan-21 6,400 6,420 6,328 6,380 6,460 6,378 -82 500,696 597,310
Mar-21 6,328 6,360 6,268 6,328 6,398 6,314 -84 9,734 505
May-21 6,286 6,292 6,202 6,254 6,330 6,250 -80 20,275 100,027
Jul-21 – – – 6,330 6,330 6,330 0 0 4
Aug-21 6,326 6,326 6,326 6,326 6,304 6,326 22 1 1
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.


Today's Managed Futures Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
Not a member yet?

Join AlphaMaven

The Premier Alternative Investment
Research and Due Diligence Platform for Investors

Free Membership for Qualified Investors and Industry Participants
  • Easily Customize Content to Match Your Investment Preferences
  • Breaking News 24/7/365
  • Daily Newsletter & Indices
  • Alternative Investment Listings & LeaderBoards
  • Industry Research, Due Diligence, Videos, Webinars, Events, Press Releases, Market Commentary, Newsletters, Fact Sheets, Presentations, Investment Mandates, Video PitchBooks & More!
  • Company Directory
  • Contact Directory
  • Member Posts & Publications
  • Alpha University Video Series to Expand Investor Knowledge
  • AUM Accelerator Program (designed for investment managers)
  • Over 450K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.