DJ CBOT Delivery Intentions: Totals – Nov 6
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
ROUGH RICE November Nov 09, 2020 135 Oct 29, 2020
This content was published based on data and/or text from the original source. For feedback, write to Valena Henderson at [email protected].

DJ U.S. Corn, Soybean Production Estimates — Survey
NEW YORK–The following are analysts’ estimates for 2020 U.S. corn and soybean production in millions of bushels, as compiled by The Wall Street Journal. Yield estimates are in bushels per acre and harvested acres are in million acres. The U.S. Department of Agriculture is scheduled to release its monthly estimates at noon on Tuesday.
U.S. 2020 Production (million bushels, bushels per acre)
Average Range USDA Oct. USDA 2019
Corn Production 14,645 14,250-14,820 14,722 13,620
Corn Yield 177.5 175.0-179.2 178.4 167.5
Harvested Acres 82.5 82.3-82.7 82.5 81.3
Soybean Production 4,253 4,189-4,320 4,268 3,552
Soybean Yield 51.7 50.9-52.5 51.9 47.4
Harvested Acres 82.3 82.3-82.3 82.3 74.9
Corn Soybean
Harvested Harvested
Production Yield Acres Production Yield Acres
AgriSource 14,643 177.4 82.5 4,237 51.5 82.3
Allendale 14,708 178.2 4,276 52.0
DC Analysis 14,686 178.0 82.5 4,260 51.8 82.3
Doane 14,600 176.9 82.5 4,225 51.3 82.3
EDF Man 14,685 178.0 82.5 4,238 51.5 82.3
Grain Cycles 14,544 176.2 82.5 4,189 50.9 82.3
Linn Group 14,599 177.0 82.5 4,239 51.5 82.3
Midwest Market Solutions 14,650 177.5 82.5 4,239 51.5 82.3
Sid Love Consulting 14,685 175.0 82.5 4,320 52.5 82.3
Midland Research 14,603 176.9 82.5 4,222 51.3 82.3
Northstar 14,250 176.0 82.5 4,255 51.7 82.3
Prime-Ag 14,722 178.4 4,268 51.9
RJO Brien 14,607 177.0 4,238 51.5
RMC 14,700 178.2 82.5 4,275 52.0 82.3
StoneX 14,764 178.9 82.5 4,287 52.1 82.3
US Commodities 14,710 178.3 82.3 4,280 52.0 82.3
VantageRM 14,625 177.3 82.5 4,268 51.9 82.3
Zaner Ag Hedge 14,820 179.2 82.7 4,246 51.6 82.3

DJ U.S. November Grain, Soybean Stockpiles Estimates — Survey
NEW YORK–The following are analysts’ estimates in millions of bushels for U.S. ending stockpiles for 2020-21, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Tuesday at noon ET.
U.S. Stockpiles (millions)
2020-21
Average Range USDA Oct.
Corn 2,048 1,950-2,215 2,167
Soybeans 239 195-308 290
Wheat 874 818-902 883
2020-21
Corn Soybeans Wheat
AgriSource 2,013 211 880
Allendale 2,079 248 879
DC Analysis 1,980 203 883
Doane 1,950 200 860
EDF Man 2,055 210 840
Grain Cycles 1,989 237 883
Linn Group 1,950 230 880
Midwest Market Solutions 2,095 308 902
Sid Love Consulting 2,080 292 883
Midland Research 2,003 204 883
Northstar 1,965 195 883
Prime-Ag 2,167 290 883
RJO Brien 1,952 227 869
RMC 2,100 240 883
StoneX 2,144 230 818
US Commodities 2,110 270 880
VantageRM 2,020 265 883
Zaner Ag Hedge 2,215 241 858

DJ November World Grain, Soybean Stockpiles Estimates — Survey
NEW YORK–The following are analysts’ estimates in millions of metric tons for world grain and soybean ending stockpiles for 2019-20 and 2020-21, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Tuesday at noon ET.
World Stockpiles (million metric tons)
2019-20
Average Range USDA Oct.
Corn 300.9 292.0-304.1 304.2
Soybeans 93.1 92.0-93.7 93.8
Wheat 298.9 296.0-300.2 299.4
2020-21
Average Range USDA Oct.
Corn 297.8 292.0-302.2 300.5
Soybeans 87.6 86.3-89.0 88.7
Wheat 320.0 318.9-322.6 321.5
2019-20 2020-21
Corn Soybeans Wheat Corn Soybeans Wheat
Allendale 298.9 88.2 319.2
EDF Man 303.0 93.0 299.4 298.0 87.0 319.0
Grain Cycles 295.0 86.5 320.0
Linn 298.0 88.5 320.0
Midwest Market Solutions 303.3 93.4 300.2 300.4 86.3 322.6
Northstar 292.0 93.5 299.4 292.0 87.0 321.0
Prime-Ag 298.0 89.0 320.0
RMC 302.0 92.0 296.0 296.0 87.5 320.0
StoneX 304.1 93.7 299.4 298.8 87.1 318.9
US Commodities 299.0 89.0 320.0
Zaner Ag Hedge 302.2 87.3 319.0

WHEAT
General Comments: Winter Wheat markets were a little higher, but well off session highs. Cash market prices were reported to be steady in Russia and Egypt paid steady prices at its tender yesterday. USDA showed average sales in its weekly export sales report. The export demand has held together well despite the fact that US prices are high in the world market. Not all of the dry areas off the Great Plains got the rains and snow in the last week, but many areas did. Only parts of southeastern Colorado and southwestern Kansas are still too dry. Southern Russia could stay mostly dry. Eastern sections of Ukraine got a few showers and things are better there. Kazakhstan should stay mostly dry. Farmers in Russia and surrounding areas are not really selling much of the current crop due to fears about production of the next crop. Less production is likely in Argentina due to drought, but the rains are good in some areas now. Eastern Australia is in very good condition. Western Australia should get some light rain this week. The Midwest is considered to be in mostly good condition. Much of Europe is in good condition.
Overnight News: The southern Great Plains should get dry weather. Temperatures should be above normal. Northern areas should see dry weather this week and showers this weekend. Temperatures will be above normal. The Canadian Prairies should see scattered showers. Temperatures should trend to near to below normal.
Chart Analysis: Trends in Chicago are up with objectives of 635 and 660 December. Support is at 610, 607, and 598 December, with resistance at 626, 636, and 638 December. Trends in Kansas City are up with objectives of 583 December. Support is at 561, 550, and 546 December, with resistance at 582, 585, and 588 December. Trends in Minneapolis are up with objectives of 573 and 588 December. Support is at 567, 551, and 547 December, and resistance is at 576, 579, and 582 December.

RICE
General Comments: Rice was a little higher once again. The weekly USDA export sales report was not considered strong. Reports indicate that domestic demand has been poor to average with better consumer demand more than offset by much less demand from schools and other institutions. Export demand has been good in previous weeks and should generally stay that way as South America should not have much to offer this year. The harvest is mostly over in northern states with good field yields reported. Southern Louisiana and Texas are harvesting the second crop. Producers had to endure Hurricane Delta and then Zeta in Louisiana, and some of the second crop Rice got hurt. Quality is said to be very good everywhere.
Overnight News: The Delta should get mostly dry conditions. Temperatures should be near to above normal.
Chart Analysis: Trends are mixed. Support is at 1234, 1223, and 1220 January, with resistance at 1250, 1257, and 1262 January.

CORN AND OATS
General Comments: Corn and Oats were a little higher on expectations for a Biden presidential victory that could create new government and stimulus spending. Biden was still winning yesterday but by very narrow margins. Democrats did not take the Senate and gave back a little bit in the House. The chances for any stimulus to pass both chambers is small. The spending would help support a Corn market that could lose more ethanol demand due to the Coronavirus. The virus could cause lockdowns again and could keep people off the road, causing less demand for ethanol. USDA reported very strong sales in its weekly export sales report for Corn. Some of those sales were known as Mexico bought a lot last week. US weather conditions are much improved this week with warmer and drier weather and the harvest is underway again. Yield reports have generally been good except for the drought and derecho areas of Iowa. It is dry in southern Brazil and northern Argentina to affect first crop Corn planting progress.
Overnight News: Unknown destinations bought 206,900 tons of US Corn.
Chart Analysis: Trends in Corn are up with objectives of 424 and 435 December. Support is at 404, 398, and 393 December, and resistance is at 422, 423, and 426 December. Trends in Oats are up with objectives of 3112, 322, and 331 December. Support is at 300, 296, and 291 December, and resistance is at 310, 312, and 316 December.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and products closed higher on hopes for more Chinese demand with a Biden victory and on continued reports of dry weather in parts of South America. The weekly USDA export sales report was considered positive for prices. China has not appeared in the daily sales announcements from USDA in a couple of weeks but has been a buyer anyway. China still needs to buy for crushers, but appears to have bought what was necessary for the reserve. Ideas are that a Biden victory would mean better intergovernmental relations with China and therefor increased demand for US Soybeans. The weather in the US is good for any remaining harvest as it has turned drier and warmer this week after a cold and wet week last week. The weather in South America is improved. Showers and rains have fallen in most of Brazil and much of Argentina. Southern Brazil and Paraguay have missed out on the good rains but did get a few showers. Soybeans are actively being planted in Brazil, but southern areas are still too dry as are parts of Argentina and all of Paraguay and Uruguay.
Overnight News: Unknown destinations bought 272,150 tons of Soybeans and China bought 132,000 tons of Soybeans. South Korea bought 30,000 tons of Soybean Oil.
Chart Analysis: Trends in Soybeans are up with no objectives. Support is at 1088, 1075, and 1063 January, and resistance is at 1112, 1124, and 1136 January. Trends in Soybean Meal are mixed to up with objectives of 405.00 December. Support is at 389.00, 380.00, and 375.00 December, and resistance is at 394.00, 397.00, and 499.00 December. Trends in Soybean Oil are up with objectives of 3650 and 3770 December. Support is at 3480, 3440, and 3400 December, with resistance at 3590, 3620, and 3650 December.

CANOLA AND PALM OIL
General Comments: Palm Oil closed lower on speculative long liquidation before the weekend. Ideas are that MPOB can show lower ending stocks this month. Chart trends are trying to turn up again. It is seasonally a time for trees to produce more due to more regular rains. Getting workers to do the harvest remains hard and the lack of labor has been a big problem. At least some of the plantation owners have asked for more migrant workers to cover the lack of workers that can be sourced locally. Canola was higher on the rally in Soybeans and products and despite a stronger Canadian Dollar. Palm Oil and Soybean Oil were both very strong yesterday.. Harvest in the Prairies is almost done and yields are reported to be very strong.
Overnight News:
Chart Analysis: Trends in Canola are mixed to up with objectives of 552.00 and 563.00 January.. Support is at 544.00, 540.00, and 533.00 January, with resistance at 553.00, 556.00, and 559.00 January. Trends in Palm Oil are up with objectives of 3260 and 3440 January. Support is at 3120, 3070, and 3030 January, with resistance at 3220, 3250, and 3280 January.

Midwest Weather Forecast: Mostly dry. Temperatures should average above normal

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
November +70 Dec +152 Dec +77 Dec +74 Nov +15 Dec N/A
December +75 Dec +86 Dec +85 Jan
January +72 Mar +85 Jan

DJ ICE Canada Cash Grain Close – Nov 5
WINNIPEG — The following are the closing cash
canola prices from ICE Futures.
Source: ICE Futures
Price Basis Contract Change
CANOLA
*Par Region 513.40 -32.40 Jan 2021 up 5.30
Basis: Thunder Bay 575.40 25.00 Jan 2021 up 4.60
Basis: Vancouver 585.40 35.00 Jan 2021 up 4.60
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 – Nov 6
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
Nov 862.50 00.00 Unquoted – –
Dec 835.00 -02.50 Unquoted – –
Jan/Feb/Mar 780.00 +05.00 Unquoted – –
Apr/May/Jun 732.50 +10.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 865.00 00.00 Unquoted – –
Dec 837.50 -02.50 Unquoted – –
Jan/Feb/Mar 782.50 +05.00 Unquoted – –
Apr/May/Jun 735.00 +10.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 865.00 +05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Nov 740.00 +05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 3,450.00 00.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 262.00 00.00 Unquoted – –
($1=MYR4.1280)

DJ China Dalian Grain Futures Closing Prices, Volume – Nov 06
Soybean No. 1
Turnover: 353,287 lots, or 18.45 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-20 5,260 5,260 5,260 5,260 5,173 5,260 87 12 116
Jan-21 5,242 5,288 5,169 5,222 5,191 5,223 32 325,033 136,163
Mar-21 5,248 5,280 5,166 5,209 5,185 5,211 26 5,643 3,000
May-21 5,215 5,253 5,157 5,208 5,200 5,204 4 19,242 18,022
Jul-21 5,243 5,249 5,163 5,209 5,194 5,201 7 3,029 2,479
Sep-21 5,161 5,185 5,116 5,140 5,150 5,143 -7 328 651
Corn
Turnover: 900,148 lots, or 23.05 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-20 2,539 2,539 2,508 2,508 2,518 2,520 2 1,922 14,511
Jan-21 2,560 2,569 2,536 2,541 2,553 2,549 -4 552,563 1,069,926
Mar-21 2,560 2,579 2,553 2,557 2,557 2,563 6 34,696 35,470
May-21 2,571 2,589 2,562 2,568 2,564 2,573 9 184,457 580,175
Jul-21 2,585 2,601 2,577 2,586 2,576 2,587 11 98,869 104,304
Sep-21 2,581 2,598 2,576 2,582 2,574 2,586 12 27,641 116,139
Soymeal
Turnover: 1,908,249 lots, or 61.22 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-20 3,200 3,214 3,200 3,214 3,214 3,206 -8 317 2,341
Dec-20 3,326 3,326 3,269 3,280 3,296 3,289 -7 1,237 2,010
Jan-21 3,280 3,292 3,254 3,260 3,266 3,273 7 854,909 1,099,527
Mar-21 3,252 3,263 3,222 3,226 3,221 3,243 22 35,742 33,143
May-21 3,159 3,185 3,141 3,150 3,125 3,161 36 682,616 1,330,468
Jul-21 3,099 3,127 3,077 3,088 3,057 3,110 53 205,955 35,618
Aug-21 3,164 3,180 3,130 3,139 3,125 3,157 32 15,847 10,502
Sep-21 3,165 3,185 3,134 3,149 3,127 3,162 35 111,626 229,564
Palm Oil
Turnover: 2,035,397 lots, or 13.21 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-20 – – – 7,100 7,100 7,100 0 0 13
Dec-20 6,526 6,636 6,490 6,518 6,420 6,556 136 23,109 2,148
Jan-21 6,546 6,608 6,484 6,524 6,436 6,542 106 1,273,375 388,910
Feb-21 6,460 6,540 6,422 6,468 6,358 6,486 128 467,033 20,163
Mar-21 6,332 6,442 6,318 6,366 6,286 6,370 84 68,021 5,841
Apr-21 6,246 6,344 6,232 6,278 6,148 6,298 150 86,554 1,527
May-21 6,100 6,226 6,100 6,164 6,032 6,162 130 113,693 146,486
Jun-21 6,142 6,188 5,996 6,130 5,938 6,118 180 8 11
Jul-21 5,950 6,010 5,942 5,942 5,852 5,956 104 13 19
Aug-21 – – – 5,802 5,802 5,802 0 0 10
Sep-21 5,802 5,904 5,800 5,842 5,732 5,846 114 3,582 5,709
Oct-21 5,808 5,836 5,808 5,814 5,732 5,826 94 9 22
Soybean Oil
Turnover: 1,286,197 lots, or 94.73 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-20 – – – 7,782 7,782 7,782 0 0 0
Dec-20 7,580 7,710 7,542 7,548 7,476 7,594 118 132 549
Jan-21 7,440 7,574 7,426 7,508 7,384 7,500 116 904,035 564,636
Mar-21 7,360 7,492 7,360 7,450 7,308 7,422 114 11,526 7,907
May-21 7,066 7,184 7,062 7,122 7,008 7,122 114 200,560 355,160
Jul-21 6,880 6,994 6,880 6,940 6,824 6,946 122 101,044 12,246
Aug-21 6,828 6,924 6,828 6,870 6,778 6,882 104 56,618 982
Sep-21 6,788 6,878 6,780 6,804 6,744 6,842 98 12,282 28,978
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.