DJ China Dalian Grain Futures Closing Prices, Volume
Soybean No. 1
Turnover: 263,998 lots, or 11.53 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-14 – - – 4,573 4,573 4,573 0 0 0
Sep-14 4,269 4,340 4,269 4,323 4,274 4,314 40 20,858 155,140
Nov-14 4,326 4,333 4,326 4,333 4,274 4,330 56 6 188
Jan-15 4,315 4,397 4,310 4,361 4,311 4,367 56 213,486 253,456
Mar-15 4,359 4,403 4,359 4,401 4,305 4,391 86 26 60
May-15 4,378 4,444 4,365 4,418 4,369 4,416 47 28,634 112,030
Jul-15 – - – 4,439 4,439 4,439 0 0 16
Sep-15 4,430 4,505 4,430 4,482 4,433 4,485 52 970 20,776
Nov-15 4,468 4,500 4,468 4,480 4,460 4,486 26 18 40
Soybean No. 2
Turnover: 20 lots, or 760700 yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-14 – - – 4,580 4,580 4,580 0 0 0
Sep-14 4,140 4,140 4,140 4,140 4,090 4,140 50 2 478
Nov-14 – - – 4,104 4,055 4,104 49 0 6
Jan-15 3,800 3,800 3,750 3,755 3,750 3,766 16 18 126
Mar-15 – - – 3,800 3,800 3,800 0 0 20
May-15 – - – 3,769 3,769 3,769 0 0 54
Corn
Turnover: 42,060 lots, or 980.17 million yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-14 – - – 2,363 2,363 2,363 0 0 0
Sep-14 2,381 2,392 2,381 2,392 2,386 2,388 2 10,868 178,094
Nov-14 – - – 2,296 2,296 2,296 0 0 62
Jan-15 2,300 2,308 2,295 2,303 2,304 2,303 -1 25,130 120,604
Mar-15 2,287 2,295 2,287 2,295 2,289 2,289 0 6 46
May-15 2,335 2,339 2,333 2,335 2,338 2,336 -2 6,056 45,874
Soymeal
Turnover: 1,302,050 lots, or 44.11 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-14 – - – 3,500 3,506 3,500 -6 0 1,332
Aug-14 3,643 3,654 3,635 3,648 3,668 3,645 -23 42 818
Sep-14 3,575 3,596 3,557 3,592 3,599 3,575 -24 519,786 1,129,372
Nov-14 3,446 3,457 3,440 3,452 3,461 3,447 -14 28 1,086
Dec-14 3,379 3,405 3,379 3,389 3,386 3,387 1 68 1,152
Jan-15 3,302 3,311 3,287 3,306 3,299 3,300 1 556,850 1,407,636
Mar-15 3,257 3,269 3,250 3,263 3,251 3,259 8 74 786
May-15 3,170 3,178 3,157 3,174 3,166 3,168 2 225,202 1,024,072
Palm Oil
Turnover: 547,886 lots, or 31.90 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-14 – - – 5,800 5,800 5,800 0 0 0
Aug-14 – - – 5,982 5,982 5,982 0 0 0
Sep-14 5,700 5,728 5,674 5,688 5,698 5,702 4 42,982 140,054
Oct-14 – - – 5,724 5,724 5,724 0 0 2
Nov-14 – - – 5,762 5,758 5,762 4 0 4
Dec-14 – - – 5,826 5,826 5,826 0 0 2
Jan-15 5,812 5,848 5,788 5,808 5,798 5,820 22 474,912 466,242
Feb-15 – - – 5,862 5,844 5,862 18 0 6
Mar-15 6,026 6,026 5,948 5,948 5,932 5,986 54 4 24
Apr-15 – - – 5,984 5,984 5,984 0 0 4
May-15 6,012 6,036 5,986 6,000 6,000 6,010 10 29,988 53,802
Jun-15 – - – 6,038 6,038 6,038 0 0 0
Soybean oil
Turnover: 296,854 lots, or 19.79 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-14 – - – 6,326 6,326 6,326 0 0 0
Aug-14 6,442 6,442 6,442 6,442 6,510 6,442 -68 2 26
Sep-14 6,498 6,528 6,460 6,464 6,512 6,496 -16 41,568 223,492
Nov-14 – - – 6,634 6,650 6,634 -16 0 30
Dec-14 – - – 6,680 6,722 6,680 -42 0 22
Jan-15 6,696 6,720 6,656 6,664 6,696 6,686 -10 235,552 639,806
Mar-15 6,716 6,718 6,716 6,716 6,734 6,716 -18 6 16
May-15 6,780 6,806 6,744 6,746 6,780 6,772 -8 19,726 143,848
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.
Crop Progress
Date 6-Jul 29-Jun 2013 Avg
Cotton Squaring 53 36 49 60
Cotton Setting Bolls 12 7 9 16
Corn Silking 15 5 6 18
Soybeans Emerged 98 94 94 97
Soybeans Blooming 24 10 9 21
Rice Headed 17 9 9 14
Sorghum Planted 98 93 100 99
Sorghum Headed 23 21 25 26
Sorghum Coloring 15 19 20
Sunflowers Planted 98 91 93 97
Peanuts Pegging 44 27 35 39
Oats Headed 80 69 79 83
Winter Wheat Harvested 57 43 55 60
Spring Wheat Headed 47 26 41 47
Barley Headed 61 31 48 44
Crop Condition
Very Poor Poor Fair Good Excellent
Cotton This Week 4 9 32 42 13
Cotton Last Week 4 9 34 41 12
Cotton Last Year 9 15 32 34 10
Corn This Week 1 4 20 54 21
Corn Last Week 1 4 20 55 20
Corn Last Year 2 6 24 51 17
Soybeans This Week 1 4 23 57 15
Soybeans Last Week 1 4 23 57 15
Soybeans Last Year 2 5 26 55 12
Sorghum This Week 1 5 33 51 10
Sorghum Last Week 1 6 34 49 10
Sorghum Last Year 5 12 39 38 6
Winter Wht This Week 22 22 25 26 5
Winter Wht Last Week 22 22 26 25 5
Winter Wht Last Year 24 18 24 26 8
Spring Wheat This Week 2 4 24 58 12
Spring Wheat Last Week 1 4 25 59 11
Spring Wheat Last Year 1 4 23 59 13
Rice This Week 0 5 25 50 20
Rice Last Week 0 5 26 50 19
Rice Last Year 1 4 26 43 26
Oats This Week 3 8 25 54 10
Oats Last Week 3 8 25 54 10
Oats Last Year 4 9 28 50 9
Peanuts This Week 0 3 27 58 12
Peanuts Last Week 0 2 26 61 11
Peanuts Last Year 1 4 28 55 12
Barley This Week 0 3 29 57 11
Barley Last Week 0 3 29 56 12
Barley Last Year 1 3 30 55 11
Pasture and Range This Week 5 11 28 45 11
Pasture and Range Last Week 4 11 27 47 11
Pasture and Range Last Year 11 16 24 39 10
DJ USDA Grain Inspections For Export In Metric Tons-Jul 7
Source: USDA
For the week ending Jul 3, in thousand metric tons. Includes
waterway shipments to Canada.
Grain ——–Week Ending——– Current Previous
7/03/2014 6/26/2014 7/04/2013 Market Yr Market Yr
to Date to Date
BARLEY 347 1,665 223 4,642 3,665
CORN 1,080,525 886,949 208,893 38,937,286 14,983,362
FLAXSEED 0 97 0 121 454
MIXED 0 0 0 0 0
OATS 0 0 87 100 300
RYE 0 0 0 0 0
SORGHUM 4,888 3,836 4,972 3,574,412 1,494,979
SOYBEANS 59,959 74,324 67,442 42,659,339 35,090,098
SUNFLOWER 0 0 0 0 153
WHEAT 417,063 347,411 784,843 2,267,143 3,082,730
Total 1,562,782 1,314,282 1,066,460 87,443,043 54,655,741
flaxseed; September 1 for corn, sorghum, soybeans and sunflower seeds.
Includes Waterway Shipments to Canada.
DJ India to Keep Grain Supplies on Fears of Poor Monsoon Rains
By Biman Mukherji
NEW DELHI–India’s government, worried that poor monsoon rains will depress the country’s grain production, is planning to hold on to supplies for its domestic market instead of boosting exports–something that could push up global prices for wheat and rice.
India is the world’s No. 1 rice exporter and has also become a prominent supplier of wheat ever since the government lifted a ban on exports of the two grains in September 2011.
“We don’t want to end up importing grains,” a senior food ministry official who declined to be named said in an interview with The Wall Street Journal, explaining plans to scale back commodity sales. “We have sufficient grain stockpiles, but naturally there will be an impact because of the weather situation.”
To avoid any shortfall, the government has dropped a plan to auction 5 million tons of rice from state stockpiles in the open market, the official said. Instead, the government plans to distribute the grain to the poor through government welfare programs.
Central government officials have also decided to keep on hold a program under which wheat was being sold regularly through state-run trading companies to global bidders, the official said.
India in September approved exports of up to 2 million tons of wheat by June 30. State-run agencies were able to sell 1.5 million tons to global bidders in that time. The government hasn’t issued another order for wheat exports because of the uncertain weather, the official said.
“We have not received any orders for reviving wheat sales. We may or may not decide to go ahead [with the program] only after the monsoon season, ” the food ministry official said.
Since the arrival of monsoon rains over the country’s mainland in the first week of June, rainfall has been 43% below average for this time of year, according to data from the India
Meteorological Department. India gets 70% of its total annual rainfall during the June-September monsoon season.
About a third of India’s grains production is bought by state agencies that maintain buffer stocks, while the rest is bought by private traders.
While government officials said they weren’t planning to impose any curbs immediately on exports of rice and wheat by traders, they said the direction of policy will be shaped by the quantity of rainfall and its distribution through the season.
Weak rains have already delayed the planting of the summer rice crop in swaths of major producing states in eastern India, said Trilochan Mohapatra, a director in the state-run Central Rice Research Institute. “The rainfall situation appears to be serious,” he said. “If it continues like this, it could affect our production. We are keeping our fingers crossed.”
India’s rice production could drop below 100 million tons from the 106 million metric tons harvested last year, he said, adding the impact may be less if rains pick up. However, production concerns have increased as the weather office has predicted an El Niño effect–a weather event associated with below normal rains–late in the monsoon season.
“The disappointing progress of the monsoon is a major worry,” said Darren Cooper, senior economist with the London-based International Grains Council. “If monsoon rains don’t improve substantially, then we are probably going to lower our forecast for India’s rice exports.”
The council had forecast that India would export 9.7 million tons of rice this year, while No. 2 exporter Thailand would ship out 9.2 million tons.
“If a problem with this year’s kharif [summer] crop becomes increasingly apparent, then I would expect the pace of India’s exports to slow quite considerably and the domestic market would then become the priority,” Mr. Cooper said.
Indian 5% broken rice grades are currently quoting around $430 per ton, compared with $415 per ton for comparable Thai varieties.
The effect of a poor monsoon on wheat production won’t become apparent until later, since winter is the main sowing period for the crop. Wheat is less dependent on rainfall than rice, as the main cultivation areas are in the northwestern region, which have an extensive network of canals and dams for irrigation.
WHEAT
General Comments: Wheat prices were lower in sympathy with the weakness in Corn and Soybeans and on reports of lower prices in Russia. Russia continues to offer and has been doing business with Egypt in the last week. Prices have begun to weaken as the harvest there progresses and farmers start to sell crops. European yield reports have been good to very good, and the EU should increase pressure on prices in the short term to generate sales. US Winter crops are more than half harvested and the harvest will continue to move north this week. Reports still indicate low yields but high protein levels for the Hard Red Winter crop. Soft Red Winter crops should have no yield problems, and the harvest should wrap up very son so producers can double crop with Soybeans. Spring Wheat crops in the US and Canada are in generally good condition, as are those in Europe and east into Russia and Asia. USDA made no major changes in Spring Wheat condition last night. Warmer and drier weather has arrived in the northern Great Plains and the Canadian Prairies, and this will help a lot with crop development.
Overnight News: The southern Great Plains should see light showers tomorrow and Thursday, otherwise dry conditions. Temperatures should average near to above normal. Northern areas should get drier weather this week, but showers at the end of the week and into the weekend. Temperatures should average near to above normal. The Canadian Prairies should get mostly dry weather, but some showers will be seen each day. Temperatures will be near normal.
Chart Analysis: Trends in Chicago are down with objectives of 546 and 544 September. Support is at 554, 548, and 542 September, with resistance at 569, 572, and 581 September. Trends in Kansas City are down with objectives of 667 and 620 September. Support is at 667, 660, and 640 September, with resistance at 701, 708, and 714 September. Trends in Minneapolis are down with objectives of 642 and 599 September. Support is at 652, 645, and 641 September, and resistance is at 675, 683, and 690 September.
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 1, 2014
: Reportable Positions
:————————————————————————————————————-
: Producer/Merchant : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading
————————————————————————————————————–
WHEAT-SRW – CHICAGO BOARD OF TRADE (CONTRACTS OF 5,000 BUSHELS)
CFTC Code #001602 Open Interest is 458,579
: Positions
: 61,838 135,290 116,443 5,092 19,891 73,248 113,962 40,367 30,176 18,264 79,568
: Changes from: June 24, 2014
: -7,419 -5,959 522 -156 1,112 4,244 4,523 1,233 444 -891 4,407
: Percent of Open Interest Represented by Each Category of Trader
: 13.5 29.5 25.4 1.1 4.3 16.0 24.9 8.8 6.6 4.0 17.4
: Number of Traders in Each Category Total Traders: 372
: 75 80 19 5 18 43 65 47 73 59 80
————————————————————————————————————–
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 1, 2014
: Reportable Positions
:————————————————————————————————————-
: Producer/Merchant : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading
————————————————————————————————————–
WHEAT-HRW – CHICAGO BOARD OF TRADE (CONTRACTS OF 5,000 BUSHELS)
CFTC Code #001612 Open Interest is 143,470
: Positions
: 26,249 71,164 33,911 1,345 839 41,430 18,543 3,339 11,339 13,697 10,754
: Changes from: June 24, 2014
: -1,360 -1,003 928 111 -252 -374 1,688 -1,956 1,489 -288 -995
: Percent of Open Interest Represented by Each Category of Trader
: 18.3 49.6 23.6 0.9 0.6 28.9 12.9 2.3 7.9 9.5 7.5
: Number of Traders in Each Category Total Traders: 186
: 40 52 16 . 6 34 20 15 20 29 27
————————————————————————————————————–
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 1, 2014
: Reportable Positions
:————————————————————————————————————-
: Producer/Merchant : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading
————————————————————————————————————–
WHEAT-HRSpring – MINNEAPOLIS GRAIN EXCHANGE (CONTRACTS OF 5,000 BUSHELS)
CFTC Code #001626 Open Interest is 61,050
: Positions
: 25,931 36,606 2,916 0 11 10,829 1,631 667 7,552 6,244 2,527
: Changes from: June 24, 2014
: 920 -3,754 -74 0 -31 329 -1,569 99 -3,566 2,679 -1,010
: Percent of Open Interest Represented by Each Category of Trader
: 42.5 60.0 4.8 0.0 0.0 17.7 2.7 1.1 12.4 10.2 4.1
: Number of Traders in Each Category Total Traders: 80
: 34 23 5 0 . 9 . 4 11 11 10
————————————————————————————————————–
RICE
General Comments: Futures were a little higher after a low volume session. The market is trying to identify the size of the crop and also what the demand will be in order to start actively pricing the new crop. Production conditions are improving, but the crop is still behind Schedule. Some yield losses are possible, but the overall crop quality looks good for now. There is still a long way to go to ensure the quality, but there is no threatening weather in the forecast. Domestic cash market offers appear to be holding about steady and higher than futures on ideas that the spot cash market remains short on Rice. New crop prices and futures seem better aligned right now as new crop bids for Long Grain are closer to 1300. Asian long grain prices are steady to firm today.
Overnight News: Mostly dry through the weekend. Temperatures will average near to below normal.
Chart Analysis: Trends are mixed. Support is at 1356, 1345, and 1340 September, with resistance at 1369, 1375, and 1382 September.
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 1, 2014
: Reportable Positions
:————————————————————————————————————-
: Producer/Merchant : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading
————————————————————————————————————–
ROUGH RICE – CHICAGO BOARD OF TRADE (CONTRACTS OF 200,000 POUNDS)
CFTC Code #039601 Open Interest is 8,787
: Positions
: 3,665 3,373 1,030 0 0 674 1,292 0 375 981 1,088
: Changes from: June 24, 2014
: -568 -886 25 -180 -14 -58 109 0 -60 116 -59
: Percent of Open Interest Represented by Each Category of Trader
: 41.7 38.4 11.7 0.0 0.0 7.7 14.7 0.0 4.3 11.2 12.4
: Number of Traders in Each Category Total Traders: 56
: 14 15 4 0 0 5 8 0 11 7 9
————————————————————————————————————–
CORN AND OATS
General Comments: Corn closed lower in follow through selling and on forecasts for good growing conditions for the next couple of weeks and ideas that USDA could slightly increase its crop ratings in the reports released last night. USDA instead kept conditions basically unchanged. Oats were lower, but remain strong overall. Oats have been rallying due to the excessive precipitation reported in much of the Canadian Prairies. The rally might start to cool now as forecasts call for warmer and drier weather to develop in the Prairies this week and as Corn prices remain weak. Corn continues to struggle with rally attempts on ideas that record production is coming. Weather is warmer and perhaps a little drier this week. There are no forecasts for a hot and dry weather to occur to stress the crop as it enters pollination. Overall crop conditions are stable now despite the excessive cool and wet conditions in north and northwest sections of the Corn Belt. Areas farther south are reported to be in very good condition. Prices are close to or below the cost of production for many producers and they should not be willing sellers. Rallies should be limited in scope due to the good weather.
Overnight News:
Chart Analysis: Trends in Corn are down with objectives of 392 September. Support is at 396, 390, and 384 September, and resistance is at 406, 409, and 418 September. Trends in Oats are up with objectives of 367 September. Support is at 342, 340, and 335 September, and resistance is at 356, 360, and 364 September.
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 1, 2014
: Reportable Positions
:————————————————————————————————————-
: Producer/Merchant : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading
————————————————————————————————————–
CORN – CHICAGO BOARD OF TRADE (CONTRACTS OF 5,000 BUSHELS)
CFTC Code #002602 Open Interest is 1,753,310
: Positions
: 367,352 654,247 291,879 3,301 66,459 300,247 198,059 144,038 122,925 67,124 312,615
: Changes from: June 24, 2014
: -7,523 -21,438 460 -405 3,271 -10,207 2,780 -15,172 -74 7,130 27,341
: Percent of Open Interest Represented by Each Category of Trader
: 21.0 37.3 16.6 0.2 3.8 17.1 11.3 8.2 7.0 3.8 17.8
: Number of Traders in Each Category Total Traders: 750
: 259 316 23 . 22 62 76 68 113 99 149
————————————————————————————————————–
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 1, 2014
: Reportable Positions
:————————————————————————————————————-
: Producer/Merchant : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading
————————————————————————————————————–
OATS – CHICAGO BOARD OF TRADE (CONTRACTS OF 5,000 BUSHELS)
CFTC Code #004603 Open Interest is 8,007
: Positions
: 1,650 5,787 972 0 0 905 0 0 1,899 575 570
: Changes from: June 24, 2014
: 17 -530 -4 0 0 -274 0 0 24 132 -3
: Percent of Open Interest Represented by Each Category of Trader
: 20.6 72.3 12.1 0.0 0.0 11.3 0.0 0.0 23.7 7.2 7.1
: Number of Traders in Each Category Total Traders: 35
: 9 10 4 0 0 7 0 0 7 6 7
————————————————————————————————————–
SOYBEANS AND PRODUCTS
General Comments: Soybeans and products were lower on follow through selling on good weather for growing. IDEAS were that USDA would increase its crop ratings in the reports last night, but USDA left conditions unchanged. The Soy Complex has had the most selling as prices have been relatively high to Corn and Wheat. Speculators are liquidating long positions in old and new crop months in response to the possibility of a massive crop in the US. Many are also liquidating old against new crop spreads as the time for trading the tight supply scenario in the US is closing. Ideas are that most major demand will wait now until new crop supplies become available. Good weather continues in the Midwest, and should continue through the first half of July if not longer. The weather though this week features mostly good growing conditions with light precipitation and warm temperatures. Supplies will remain tight, but it seems that the market has enough to get through August and harvest in the southern US. Export bids for Soybeans were not seen in Brazil yesterday as farmers there are holding back supplies from the market.
Overnight News:
Chart Analysis: Trends in Soybeans are down with no objectives. Support is at 1267, 1258, and 1241 August, and resistance is at 1290, 1297, and 1315 August. Trends in Soybean Meal are down with objectives of 400.00 August. Support is at 407.00, 404.00, and 401.00 August, and resistance is at 415.00, 418.00, and 424.00 August. Trends in Soybean Oil are down with objectives of 3840 August. Support is at 3820, 3790, and 3760 August, with resistance at 3890, 3920, and 3985 August.
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 1, 2014
: Reportable Positions
:————————————————————————————————————-
: Producer/Merchant : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading
————————————————————————————————————–
SOYBEANS – CHICAGO BOARD OF TRADE (CONTRACTS OF 5,000 BUSHELS)
CFTC Code #005602 Open Interest is 807,301
: Positions
: 208,689 248,131 96,923 5,469 25,145 134,422 112,218 62,618 62,294 57,615 166,773
: Changes from: June 24, 2014
: 13,219 -17,404 873 -670 3,430 -901 18,117 1,622 1,466 10,452 25,206
: Percent of Open Interest Represented by Each Category of Trader
: 25.9 30.7 12.0 0.7 3.1 16.7 13.9 7.8 7.7 7.1 20.7
: Number of Traders in Each Category Total Traders: 653
: 140 203 19 5 21 73 64 71 123 139 171
————————————————————————————————————–
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 1, 2014
: Reportable Positions
:————————————————————————————————————-
: Producer/Merchant : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading
————————————————————————————————————–
SOYBEAN MEAL – CHICAGO BOARD OF TRADE (CONTRACTS OF 100 TONS)
CFTC Code #026603 Open Interest is 370,056
: Positions
: 95,697 184,608 45,898 2,529 18,348 74,075 34,703 11,249 17,813 31,523 58,090
: Changes from: June 24, 2014
: -2,640 -10,950 1,701 -1,837 975 -1,442 8,411 1,008 -458 3,060 2,755
: Percent of Open Interest Represented by Each Category of Trader
: 25.9 49.9 12.4 0.7 5.0 20.0 9.4 3.0 4.8 8.5 15.7
: Number of Traders in Each Category Total Traders: 265
: 65 81 16 4 17 52 20 21 25 56 53
————————————————————————————————————–
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 1, 2014
: Reportable Positions
:————————————————————————————————————-
: Producer/Merchant : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading
————————————————————————————————————–
SOYBEAN OIL – CHICAGO BOARD OF TRADE (CONTRACTS OF 60,000 POUNDS)
CFTC Code #007601 Open Interest is 351,650
: Positions
: 94,248 178,196 68,736 500 2,116 72,931 56,125 11,789 26,957 24,608 42,334
: Changes from: June 24, 2014
: -5,217 -2,878 -1,067 445 -783 4,144 -7,167 -3,134 -411 176 -3,889
: Percent of Open Interest Represented by Each Category of Trader
: 26.8 50.7 19.5 0.1 0.6 20.7 16.0 3.4 7.7 7.0 12.0
: Number of Traders in Each Category Total Traders: 288
: 66 71 17 . 8 33 44 28 42 45 58
————————————————————————————————————–
CANOLA AND PALM OIL
General Comments: Canola was closed lower along with price action in Chicagoand on forecasts for warmer and drier weather in the Canadian Prairies. Trends are mixed on the charts, but price action is weak. Improving weather conditions in Canada and weaker price action in world vegetable oils markets are expected to keep any upside potential for recovery limited at this time, but the crop is late. Some areas did not get planted due to too much rain, and total production could be smaller last year. The biggest losses are in Manitoba and Saskatchewan. There are still big supplies from the previous crop to be moved that will help keep up side potential limited. Palm Oil was higher, with ideas that it is too dry for best production in Indonesia and Malaysia providing Support and ideas of big world vegetable oils supplies providing selling interest. There was some El Nino talk as well although it seems that the event has still not arrived, but found late buying interest to close with light to moderate losses. The production is increasing as Ramadan demand starts to fade. Export demand has been positive so far this month, but demand is now expected to weaken somewhat. Domestic demand is expected to stay generally strong on increased use for biofuels. The weather features showers in Malaysia and showers and storms in Indonesia.
Overnight News:
Chart Analysis: Trends in Canola are mixed to down with no objectives. Support is at 448.00, 446.00, and 442.00 November, with resistance at 460.00, 465.00, and 467.00 November. Trends in Palm Oil are mixed to down with no objectives. Support is at 2380, 2360, and 2335 September, with resistance at 2435, 2445, and 2480 September.
DAIRY
General Comments: US dairy prices were mixed, with Cheese a little lower, but Milk and Butter a little higher. Demand in general remains good, and Butter demand in particular remains very strong. Fluid Milk supply trends are becoming more mixed. Many northern areas are completing the flush cycle, and this milk is increasingly moving to processors instead of bottlers. Many processors are now drying the Milk as fluid demand at the retail level is dropping seasonally. Cash prices for Butter remain strong, while those for Cheese are mixed. Dry markets are steady with a weak undertone. Demand for US products remains strong on the domestic side, and has been weaker in the export market. Prices throughout Southeast Asia and Oceana remain steady to weaker. New Zealand and Australia production has been more turning lower as the production season is winding down. European production remains strong.
Overnight News:
Chart Analysis: Trends in Milk are mixed to down with no objectives. Support is at 2020, 2010, and 1990 August, and resistance is at 2070, 2090, and 2125 August. Trends in Cheese are down with no objectives. Support is at 195.00, 193.50, and 192.00 August, with resistance at 199.00, 203.00, and 206.00 August. Trends in Butter are mixed to up with no objectives. Support is at 224.00, 221.00, and 217.00 August, and resistance is at 229.00, 234.00, and 237.00 August.
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 1, 2014
: Reportable Positions
:————————————————————————————————————-
: Producer/Merchant : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading
————————————————————————————————————–
MILK, Class III – CHICAGO MERCANTILE EXCHANGE (CONTRACTS OF 200,000 POUNDS)
CFTC Code #052641 Open Interest is 52,277
: Positions
: 25,323 25,812 0 2,558 34 757 0 2,335 9,508 1,665 10,242
: Changes from: June 24, 2014
: -127 -355 0 144 -1 12 0 33 -261 23 -16
: Percent of Open Interest Represented by Each Category of Trader
: 48.4 49.4 0.0 4.9 0.1 1.4 0.0 4.5 18.2 3.2 19.6
: Number of Traders in Each Category Total Traders: 88
: 38 35 0 . . 7 0 . 24 9 26
————————————————————————————————————–
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 1, 2014
: Reportable Positions
:————————————————————————————————————-
: Producer/Merchant : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading
————————————————————————————————————–
NON FAT DRY MILK – CHICAGO MERCANTILE EXCHANGE (CONTRACTS OF 44,000 LBS.)
CFTC Code #052642 Open Interest is 5,062
: Positions
: 3,031 1,576 25 0 0 6 0 190 712 2,634 222
: Changes from: June 24, 2014
: -13 14 0 0 0 6 -14 13 12 48 -45
: Percent of Open Interest Represented by Each Category of Trader
: 59.9 31.1 0.5 0.0 0.0 0.1 0.0 3.8 14.1 52.0 4.4
: Number of Traders in Each Category Total Traders: 29
: 15 9 . 0 0 . 0 . . 8 7
————————————————————————————————————–
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 1, 2014
: Reportable Positions
:————————————————————————————————————-
: Producer/Merchant : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading
————————————————————————————————————–
CME MILK IV – CHICAGO MERCANTILE EXCHANGE (CONTRACTS OF 200,000 POUNDS)
CFTC Code #052644 Open Interest is 12,130
: Positions
: 2,975 7,150 0 224 13 9 0 376 7,337 363 796
: Changes from: June 24, 2014
: -126 -26 0 -10 0 -28 0 -2 92 -16 -1
: Percent of Open Interest Represented by Each Category of Trader
: 24.5 58.9 0.0 1.8 0.1 0.1 0.0 3.1 60.5 3.0 6.6
: Number of Traders in Each Category Total Traders: 38
: 10 18 0 . . . 0 . 12 4 7
————————————————————————————————————–
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 1, 2014
: Reportable Positions
:————————————————————————————————————-
: Producer/Merchant : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading
————————————————————————————————————–
CHEESE (CASH-SETTLED) – CHICAGO MERCANTILE EXCHANGE (CONTRACTS OF 20,000 POUNDS)
CFTC Code #063642 Open Interest is 16,145
: Positions
: 10,505 4,907 18 0 78 8 0 244 2,429 8,454 1,604
: Changes from: June 24, 2014
: 102 13 0 0 0 7 -14 -43 1 164 -80
: Percent of Open Interest Represented by Each Category of Trader
: 65.1 30.4 0.1 0.0 0.5 0.1 0.0 1.5 15.0 52.4 9.9
: Number of Traders in Each Category Total Traders: 44
: 15 12 . 0 . . 0 . 12 11 10
————————————————————————————————————–
Disaggregated Commitments of Traders- Options and Futures Combined Positions as of July 1, 2014
: Reportable Positions
:————————————————————————————————————-
: Producer/Merchant : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading
————————————————————————————————————–
BUTTER (CASH SETTLED) – CHICAGO MERCANTILE EXCHANGE (CONTRACTS OF 20,000 POUNDS)
CFTC Code #050642 Open Interest is 8,427
: Positions
: 5,933 3,441 0 0 0 8 0 294 345 3,621 413
: Changes from: June 24, 2014
: 178 140 0 0 0 -1 0 6 -10 95 121
: Percent of Open Interest Represented by Each Category of Trader
: 70.4 40.8 0.0 0.0 0.0 0.1 0.0 3.5 4.1 43.0 4.9
: Number of Traders in Each Category Total Traders: 37
: 15 12 0 0 0 . 0 . 7 10 7
————————————————————————————————————–
Daily Cash Nonfat Dry Milk Trading on Monday, July 7, 2014
(Carload Unit = 42,000-45,000 lbs)
——————————————————————
NONFAT DRY MILK : CLOSE : CHANGE
——————————————————————
GRADE A : $1.7725 : N.C.
——————————————————————
SALES: NONE
LAST BID UNFILLED: NONE
LAST OFFER UNCOVERED: NONE
Close represents US $ per pound. Change is price change from previous close.
Information disseminated by USDA, Dairy Market News – Madison, WI
1129C (608) 278-4150
USDA/AMS/Dairy Market News, Madison, Wisconsin
Dairy Market News website: www.ams.usda.gov/dairymarketnews
Dairy Market News database portal: www.marketnews.usda.gov/portal/da
Daily Cash Cheese Trading on Monday, July 7, 2014
(Carload Unit = 40,000-44,000 lbs.)
** Resent-CME Updated
——————————————————————
CHEESE : CLOSE : CHANGE
——————————————————————
BARRELS : $1.9850 : N.C.
40# BLOCKS : $1.9550 : -.0125
——————————————————————
SALES: 6 CARS 40# BLOCKS:
1 @ $1.9650, 2 @ $1.9600, ** 3 @ $1.9550
LAST BID UNFILLED: 1 CAR BARRELS @ $1.9850
3 CARS 40# BLOCKS @ $1.9500
LAST OFFER UNCOVERED: 1 CAR 40# BLOCKS @ $1.9575
Close represents US $ per pound. Change is price change from previous close.
Information disseminated by USDA, Dairy Market News – Madison, WI
1205C (608) 278-4150
USDA/AMS/Dairy Market News, Madison, Wisconsin
Dairy Market News website: www.ams.usda.gov/dairymarketnews
Dairy Market News database portal: www.marketnews.usda.gov/portal/da
Daily Cash Butter Trading on Monday, July 7, 2014
(Carload Unit = 40,000-42,000 lbs)
——————————————————————
BUTTER : CLOSE : CHANGE
——————————————————————
GRADE AA : $2.3950 : .0050
——————————————————————
SALES: 5 CARS GRADE AA:
2 @ $2.3700, 1 @ $2.3800, 1 @ $2.3900, 1 @ $2.3950
LAST BID UNFILLED: NONE
LAST OFFER UNCOVERED: 1 CAR GRADE AA @ $2.4000
Close represents US $ per pound. Change is price change from previous close.
Information disseminated by USDA, Dairy Market News – Madison, WI
1134C (608) 278-4150
USDA/AMS/Dairy Market News, Madison, Wisconsin
Dairy Market News website: www.ams.usda.gov/dairymarketnews
Dairy Market News database portal: www.marketnews.usda.gov/portal/da
Midwest Weather Forecast: Showers again today, then dry until the weekend. Sore showers are posible this weekend. Temperatures will average near to below normal.
FOB Gulf Basis Levels-Cents per Bushel
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
July 68 July 146 Sep 55 Sep 79 July 50 July 200 July
August 65 Sep 145 Sep 60 Sep 70 August
September 108 Sep
All basis levels are positive unless noted as negative
Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
July plus 10 Aug July
August plus 12 Aug plus 100 Sep August
September plus 38 Sep plus 95 Sep September
Canada, Malaysia, y Indonesia:
DJ ICE Canada Cash Grain Close – Jul 7
By Commodity News Service Canada
Winnipeg–The following are the closing cash grain
prices from ICE Futures Canada.
Values are based on the commodity being delivered at
Thunder Bay, Ontario, unless otherwise noted. Source: ICE
Futures Canada
Price Change
CANOLA
*Par Region 452.40 up 6.50
Basis: Thunder Bay
1 Can 499.40 up 7.00
2 Can 486.40 up 7.00
Basis: Vancouver
1 Can 504.40 up 2.00
2 Can 491.40 up 2.00
FEED WHEAT
Lethbridge 192.00 unchanged
Can Feed 245.00 unchanged
WESTERN BARLEY
Lethbridge 195.00 up 1.00
All prices in Canadian dollars per metric ton.
*Quote for previous day
Source: Commodity News Service Canada (cnscanada@shaw.ca,
or 204-414-9084)
DJ Malaysian PM Cash Market Prices for Palm Oil – July 8
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Tuesday 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
Jul 805.00 -05.00 Unquoted – -
Aug/Sep 795.00 -07.50 Unquoted – -
Oct/Nov/Dec 777.50 -05.00 Unquoted – -
Jan/Feb/Mar 782.50 -05.00 Unquoted – -
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jul 807.50 -05.00 Unquoted – -
Aug/Sep 797.50 -07.50 Unquoted – -
Oct/Nov/Dec 780.00 -05.00 Unquoted – -
Jan/Feb/Mar 785.00 -05.00 Unquoted – -
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 780.00 -05.00 Unquoted – -
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Aug 775.00 -05.00 Unquoted – -
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jul 2,465 -15.00 Unquoted – -
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jul 225.00 -03.00 Unquoted – -
($1=MYR3.1716)
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