DJ CBOT Delivery Intentions: Totals – Sep 4
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL September Sep. 08, 2020 71 Sep 02, 2020
CORN September Sep. 08, 2020 220 Jul 02, 2020
ETHANOL September Sep. 08, 2020 8 Aug 27, 2020
SOYBEAN September Sep. 08, 2020 8 Aug 24, 2020
WHEAT September Sep. 08, 2020 11 Aug 28, 2020

DJ Canadian Grain, Oilseed Stocks As Of July 31, 2020 – StatsCan
WINNIPEG–The following is the Statistics Canada grain and
oilseed stocks in all positions report.
Figures are as of July 31, 2020, in thousand metric tons.
Source: Statistics Canada.
On Farms Commercial Total
Jul 31 Jul 31 Jul 31 Jul 31 Jul 31 Jul 31
2020 2019 2020 2019 2020 2019
Barley 688 636 269 227 957 863
Canaryseed 2 2 13 9 15 11
Canola 1,446 2,972 1,295 1,203 2,741 4,175
Chickpeas 228 118 22 22 250 140
Corn N/A 1,080 N/A 903 N/A 1,983
Flaxseed 25 38 39 22 64 60
Lentils 3 575 58 141 61 716
Mustard 47 50 14 23 61 73
Oats 208 293 218 104 426 397
Peas 96 131 137 181 233 312
Rye 18 42 22 7 40 49
Soybeans N/A 95 N/A 604 N/A 700
Sunflower 103 95 2 2 104 96
All wheat 1,724 2,654 3,304 3,237 5,028 5,891
Durum 110 950 550 842 660 1,792
By Commodity News Service Canada ([email protected], or
204-414-9084)

WHEAT
General Comments: Winter Wheat markets were lower in the Chicago Winter Wheat markets. Minneapolis Spring Wheat was mixed to a little higher, but encountered producer selling to close with small gains. The weather forecast for the far northern Great Plains and Canada has introduced a frost or light freeze for next week. Trends in the Winter Wheat markets have been up but are turning more mixed as US prices remain above the competition. The market is still reacting to which way Wheat prices are going here and overseas. Spring Wheat continues to develop under good growing conditions in both the US and Canada. Harvest has expanded and yield reports are solid in the northern Plains. It is still dry in France and Russia and 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 and is getting rains. About half of the Argentine Wheat belt is too dry and wire reports indicate that production in the worst areas could be 50% of normal.
Overnight News: The southern Great Plains should get scattered showers. Temperatures should be above normal. Northern areas should see isolated 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 mixed to up with objectives of 574 December. Support is at 547, 543, and 542 December, with resistance at 560, 570, and 571 December. Trends in Kansas City are mixed to up with objectives of 502 December. Support is at 474, 469, and 465 December, with resistance at 490, 495, and 504 December. Trends in Minneapolis are mixed to up with objectives of 565 December. Support is at 545, 543, and 535 December, and resistance is at 549, 554, and 556 December.

RICE
General Comments: Rice was higher in nearby months and near unchanged in deferred months. Support came from news that Brazil might have bought US Rice overnight. The market is looking for some Rice for spot delivery and is not finding enough offers in the cash market. The damage from Laura was intense near the Gulf Coast but most if not all of the Rice had already been harvested. The port facilities and elevators near Port Charles were damaged. The storm diminished quickly and little damage was reported in Mississippi, Arkansas, of Missouri. Storms through Arkansas now from the north brought some damaging weather as it blew some of the Rice down. New crop prospects still 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. Harvest is about to begin in these states. Texas and southern Louisiana field yield reports are strong. Quality is called average to above average.
Overnight News: The Delta should get big rains from Laura and Marco. Temperatures should be near to above normal.
Chart Analysis: Trends are mixed. Support is at 1220, 1204, and 1192 November, with resistance at 1245, 1260, and 1267 November.

CORN AND OATS
General Comments: Corn was lower despite very strong weekly export sales. Ideas are that China could be almost done buying and the sales report shows limited demand once China is done. Producers and commercials were the best sellers. It was a mostly dry day in the Midwest yesterday. The next round of showers is not expected until next week, but the showers should be positive for final development of whatever Corn is still out there. Much of the Iowa and northern Illinois Corn is getting mature and shutting down and this Corn will not get helped by any precipitation anymore. There is a crop out there and it will be harvested soon. Private analysts think that there will be more than enough Corn harvested to meet any demand. That means that seasonal harvest pressure should be seen in this market in the near future.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 354, 348, and 345 December, and resistance is at 360, 362, and 367 December. Trends in Oats are mixed to up with objectives of 283 and 294 December. Support is at 271, 268, and 261 December, and resistance is at 279, 283, and 286 December.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and Soybean Meal were higher on fund buying. Soybean Oil closed a little lower. More Chinese demand supported futures yesterday, but this demand might be starting to run out. China has bought a lot and has already priced the majority of the Fall and early Winter needs. The rest of the Winter will probably be covered by Brazil. There is no rain in the forecast now until next week then good rains are expected. The change in the weather pattern should help the Soybeans on their way to maturity although the rains will be too late for a good part of the crop. Some crops are mature already and are dropping leaves. Cooler temperatures are seen behind the front, but it was the rain that was most important. The weather will start to lose its bullish influence on prices in the next few weeks and the harvesters get ready to roll.
Overnight News: USDA said that 318,000 tons of US Soybeans were sold to China and 175,000 tons of US Soybean Meal was sold to Philippines.
Chart Analysis: Trends in Soybeans are mixed to up with no objectives. Support is at 952, 943, and 940 November, and resistance is at 968, 976, and 980 November. Trends in Soybean Meal are mixed to up with no objectives. Support is at 302.00, 298.00, and 292.00 October, and resistance is at 309.00, 312.00, and 315.00 October. Trends in Soybean Oil are mixed. Support is at 3260, 3200, and 3180 October, with resistance at 3390, 3430, and 3460 October.

CANOLA AND PALM OIL
General Comments: Palm Oil closed higher on ideas of lower production in Malaysia and Indonesia. Flooding and a lack of workers for the plantations have been the reasons to see less production in Malaysia. 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 in November, but a little lower in the deferred months despite some forecasts for cold weather in Canada next week. A frost is likely in some parts of Canada next week. Crop conditions are mostly good and farmers have been selling old crop supplies.
Overnight News:
Chart Analysis: Trends in Canola are up with objectives of 511.00 and 521.00 November. Support is at 501.00, 494.00, and 491.00 November, with resistance at 505.00, 508.00, and 511.00 November. Trends in Palm Oil are up with objectives of 2950 and 3140 November. Support is at 2820, 2760, and 2700 November, with resistance at 2920, 2940, and 2970 November.

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

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
September +45 Sep +140 Dec +65 Sep +74 Nov +15 Dec N/A
October +52 Dec +65 Dec +68 Nov
November +59 Dec +65 Dec +74 Nov

DJ ICE Canada Cash Grain Close – Sep 3
WINNIPEG, Sept. 3 (MarketsFarm) – The following are the closing cash
canola prices from ICE Futures. Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 467.40 -36.00 Nov 2020 up 2.40
Basis: Thunder Bay 515.70 12.00 Nov 2020 up 0.20
Basis: Vancouver 528.70 25.00 Nov 2020 up 0.20
All prices in Canadian dollars per metric ton.

DJ Malaysian PM Cash Market Prices for Palm Oil – Sept 4
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 740.00 -12.50 Unquoted – –
Oct/Nov/Dec 712.50 -17.50 Unquoted – –
Jan/Feb/Mar 690.00 -17.50 Unquoted – –
Apr/May/Jun 670.00 -22.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Sept 742.50 -12.50 Unquoted – –
Oct/Nov/Dec 715.00 -17.50 Unquoted – –
Jan/Feb/Mar 692.50 -17.50 Unquoted – –
Apr/May/Jun 672.50 -22.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Sept 745.00 -10.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Sept 660.00 -10.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sept 2,950.00 -50.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Sept 197.00 +04.00 Unquoted – –
($1=MYR4.1465)

DJ China Dalian Grain Futures Closing Prices, Volume – Sep 04
Soybean No. 1
Turnover: 335,380 lots, or 15.03 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-20 4,800 5,000 4,800 4,800 4,743 4,835 92 665 1,489
Nov-20 4,381 4,509 4,373 4,499 4,392 4,443 51 2,829 3,323
Jan-21 4,410 4,549 4,403 4,548 4,414 4,479 65 322,144 142,251
Mar-21 4,464 4,566 4,445 4,549 4,443 4,498 55 6,562 2,895
May-21 4,471 4,588 4,466 4,588 4,470 4,534 64 2,715 4,935
Jul-21 4,475 4,582 4,475 4,575 4,472 4,534 62 465 1,215
Corn
Turnover: 1,185,527 lots, or 27.26 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-20 2,240 2,243 2,235 2,243 2,235 2,239 4 458 1,480
Nov-20 2,253 2,275 2,253 2,269 2,252 2,267 15 40,285 25,653
Jan-21 2,280 2,300 2,276 2,296 2,278 2,291 13 911,164 1,201,340
Mar-21 2,309 2,328 2,304 2,323 2,305 2,319 14 29,207 21,737
May-21 2,318 2,341 2,317 2,337 2,314 2,332 18 156,232 408,813
Jul-21 2,345 2,368 2,345 2,365 2,342 2,359 17 48,181 62,739
Soymeal
Turnover: 1,229,484 lots, or 35.88 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-20 2,917 2,937 2,915 2,937 2,941 2,921 -20 124 823
Nov-20 2,921 2,954 2,910 2,953 2,925 2,929 4 37,573 73,401
Dec-20 2,922 2,960 2,916 2,958 2,930 2,934 4 2,605 2,701
Jan-21 2,940 2,974 2,926 2,973 2,942 2,948 6 899,411 1,378,240
Mar-21 2,846 2,879 2,833 2,878 2,844 2,854 10 9,166 14,571
May-21 2,814 2,840 2,798 2,840 2,809 2,818 9 233,802 770,641
Jul-21 2,839 2,855 2,818 2,853 2,826 2,835 9 42,008 11,688
Aug-21 2,866 2,893 2,853 2,893 2,856 2,873 17 4,795 3,940
Palm Oil
Turnover: 1,246,527 lots, or 73.72 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-20 6,300 6,300 6,300 6,300 6,370 6,300 -70 6 33
Oct-20 6,196 6,216 6,056 6,112 6,176 6,140 -36 1,092 2,154
Nov-20 6,096 6,132 5,950 5,988 6,074 6,026 -48 8,211 5,348
Dec-20 5,982 6,016 5,862 5,890 5,982 5,954 -28 1,873 822
Jan-21 5,992 5,998 5,824 5,860 5,954 5,916 -38 1,126,498 405,079
Feb-21 5,944 5,964 5,798 5,832 5,944 5,894 -50 70,470 11,072
Mar-21 5,928 5,928 5,782 5,806 5,920 5,864 -56 3,907 2,040
Apr-21 – – – 5,892 5,892 5,892 0 0 152
May-21 5,860 5,874 5,740 5,770 5,840 5,810 -30 34,468 53,178
Jun-21 5,824 5,824 5,824 5,824 5,774 5,824 50 1 1
Jul-21 5,838 5,838 5,838 5,838 5,788 5,838 50 1 4
Aug-21 – – – 5,852 5,802 5,852 50 0 0
Soybean Oil
Turnover: 905,216 lots, or 61.14 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-20 – – – 6,742 6,742 6,742 0 100 2,137
Nov-20 6,780 6,800 6,694 6,724 6,772 6,752 -20 24,791 6,337
Dec-20 6,786 6,798 6,702 6,728 6,786 6,760 -26 300 763
Jan-21 6,818 6,830 6,712 6,742 6,770 6,770 0 785,636 575,258
Mar-21 6,758 6,796 6,678 6,718 6,756 6,738 -18 16,527 5,779
May-21 6,650 6,672 6,560 6,600 6,622 6,616 -6 63,198 148,539
Jul-21 6,594 6,602 6,502 6,524 6,560 6,528 -32 14,653 4,306
Aug-21 6,596 6,610 6,580 6,580 6,568 6,598 30 11 23
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.