DJ CBOT Delivery Intentions: Totals – Sep 1
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL September Sep. 02, 2011 192 Aug 09, 2011
SOYBEAN OIL September Sep. 02, 2011 2725 Aug 31, 2011
ROUGH RICE September Sep. 02, 2011 421 Aug 31, 2011
ETHANOL September Sep. 02, 2011 20 Jul 22, 2011
OATS September Sep. 02, 2011 1 Aug 01, 2011
SOYBEAN September Sep. 02, 2011 264 Aug 16, 2011
WHEAT September Sep. 02, 2011 1195 Aug 31, 2011
MINI-SIZED WHEAT September Sep. 02, 2011 60 Aug 26, 2011
DJ KCBT Wheat Delivery Intentions Breakdown – Sep 1
Intentions Reintentions
Intention Date: Sep 1, 2011 KC 0 0
Delivery Date: Sep 2, 2011 Hutchinson 0 6
Oldest long date: Aug 29, 2011 Salina/Abilene 500 336
Wichita 0 30
Totals 500 372
DJ MGE Wheat Delivery Intentions Breakdown – Aug 30
No oldest long date for spring wheat futures. MGE Clearing House
Report of Deliveries for 8/31/11.
Delivered By Quantity Received By Quantity
Country Hedging, In Reg Orig 394 Country Hedging, In Seg Orig 2
Penson GHCO Seg Orig 14
JP Morgan Futures I Seg Orig 3
Newedge USA LLC Seg Orig 375
Delivered Duluth/Superior 394
Total Original Delivery: 394
Total Redelivery
DJ US Export Sales: Weekly Sales Totals-Sep 1
For the week ended Aug 25, in thousand metric tons, except cotton in
thousand running bales. Net changes in commitments are gross sales,
less cancellations, buy-backs and other downward adjustments. Total
commitments are total export shipments plus total sales.
The marketing year for wheat and barley began Jun 1, cotton and
and rice Aug 1, corn, soybeans and sorghum Sep 1, and soymeal and
soyoil Oct 1.
wk’s net chg total
in commitments commitments undlvd sales
this yr next yr this yr last yr this yr next yr
wheat 369.2 0.0 12202.4 14083.9 5084.4 63.6
corn -320.9 957.9 48109.2 52392.5 3540.0 9690.2
soybeans 0.0 593.8 42231.1 41288.6 2477.7 11599.2
soymeal -9.1 135.3 7822.4 9722.1 765.3 699.7
soyoil 1.5 0.0 1368.2 1460.3 140.7 17.3
upland cotton 227.0 2.8 6372.3 6754.7 5877.7 140.9
pima cotton -2.3 0.0 368.6 166.3 362.8 0.9
sorghum 0.2 16.7 3498.1 3646.4 211.4 189.8
barley 0.0 0.0 80.6 60.7 50.5 0.0
rice 18.6 0.0 583.6 837.5 370.3 0.3
WHEAT
General Comments: Futures closed higher yesterday after moving lower on profit taking by speculators and forecasts for showers in the Texas and Oklahoma Panhandles later this week. Ideas of tight supplies here of high quality Wheat and ideas that the hard Red Winter Wheat crop will struggle to get planted in a timely way as it still has not rained in areas of the central and southern Great Plains continue, and these ideas supported the buying after the lower start. Yields and quality in Spring Wheat areas was hurt earlier in the season due to excessive rains in the north. Wheat is still finding its way into feed rations as many buyers do not want to pay the high prices for Corn. The current Corn prices imply that these trends will continue. Weather forecasts for dry and warm weather in Texas and Oklahoma continue for the next week, and more rain will be needed soon for planting of the Fall crops. Russian grains and Wheat prices are turning stronger amid a very active export pace and this will take some of the price pressure off the US futures and cash markets. Reports from Europe indicate that Germany has lost some production this year due to excessive rains in the last several weeks, and exports from Europe will probably be less. Canadian production appears to be very good. Charts show that the trends are up.
Overnight News: Mostly dry conditions or light showers are expected in the southern Great Plains, and northern areas could see mostly dry conditions or light showers. Temperatures should average near normal in the south, but near to below normal in the north. The Canadian Prairies should get mostly dry conditions or light showers. Temperatures will average near normal. Gulf basis levels are steady for Soft Red Winter Wheat and steady for Hard Red Winter Wheat. Taiwan bought 53,170 tons of US Wheat overnight.
Chart Analysis: Trends in Chicago are mixed to up with objectives of 820 December. Support is at 779, 774, and 768 December, with resistance at 794, 805, and 810 December. Trends in Kansas City are mixed to up with objectives of 942 December. Support is at 877, 854, and 847 December, with resistance at 899, 905, and 916 December. Trends in Minneapolis are mixed. Support is at 922, 897, and 885 December, and resistance is at 957, 975, and 999 December.
RICE
General Comments: Prices were higher again yesterday on speculative buying related to ideas or poor yields in Arkansas. Futures traded over 1800 November before late profit taking pushed futures below this level at the close. Initial yield reports have been variable, with some reporting good yields and others reporting poor or very poor yields. Yield reports remain good along the Gulf Coast, but have slipped as farmers move to later planted Rice. Milling yields have not been good as harvest progresses. Domestic buyers are waiting for the Arkansas harvest to start, and this should start this or next week. Asian prices have been mixed so far this week. US cash markets are reported to be steady in Arkansas. New crop bids have also been steady. Cash markets in Texas and Louisiana appear steady to firm. Futures remain well above cash prices. Trends are mixed for the short term.
Overnight News: Some showers are possible in Mid South and Delta areas off and on through this weekend, but mostly dry. Temperatures will average near to above normal.
Chart Analysis: Trends are up with objectives of 1859 and 1954 November. Support is at 1765, 1751, and 1720 November, and resistance is at 1814, 1824, and 1836 November.
CORN AND OATS
General Comments: Corn was lower and Oats were mixed on some speculative long liquidation. Ideas that the cash market is short brought some speculative buying into the market. However, the cash market has been soft, and cash market buyers have been hard to find with current prices. There is still talk of more yield loss due to the rapid progress of the crop, but more rain would make conditions better and keep yields from sliding further. Some rains fell in Iowa and Illinois yesterday, and more is forecast for this weekend. The rains could help with kernel fill, but not much else anymore. Corn losses are certain this year from the hot and dry weather seen in July and the poor Spring weather that hurt planting. End users are increasingly looking to Wheat or other substitute grains in place of Corn due to the high price of Corn. The export sales pace has also been behind last year. Oats are being harvested, so warmer and drier weather will enhance progress. However, condition ratings are still down.
Overnight News: Basis was steady at the Gulf of Mexico.
Chart Analysis: Trends in Corn are up with objectives of 818 December. Support is at 761, 747, and 734 December, and resistance is at 779, 786, and 792 December. Trends in Oats are mixed to up with objectives of 418 and 461 December. Support is at 372, 366, and 359 September, and resistance is at 380, 383, and 394 December.
SOYBEANS AND PRODUCTS
General Comments: Soybeans and products were mostly higher on speculative buying tied to ideas of yield losses and tight supplies before harvest. Overall Midwest weather is mixed for Soybeans development and production potential. Some rains were reported in Iowa and Illinois last night. Weather forecasts still offer more hopes for improved growing conditions in the Midwest with temperatures closer to normal and some showers and storms this weekend, but there is still no soaking rain for the entire region. Farmers report that rains are needed very soon to avoid any more yield loss. It is still pod setting and pod filling time, and moisture needs are high. Soybeans have had better weather in August than Corn got in July, but still need additional rains. Demand is not strong at this time for US Soybeans, and basis levels are dropping. Charts show that trends are mostly up.
Overnight News: Basis levels are weaker at the gulf. Gulf Soybean Meal basis is steady.
Chart Analysis: Trends in Soybeans are up with objectives of 1527 and 1657 November. Support is at 1448, 1426, and 1410 November, and resistance is at 1465, 1472, and 1484 November. Trends in Soybean Meal are up with no objectives. Support is at 380.00, 372.00, and 368.00 October, and resistance is at 386.00, 392.00, and 398.00 October. Trends in Soybean Oil are up with objectives of 5830 October. Support is at 5810, 5750, and 5660 October, with resistance at 5935, 6010, and 6080 October.
CANOLA AND PALM OIL
General Comments: Canola was higher on price action in Chicago and on forecasts for come cold weather in Alberta at the end of the week. Funds were the best buyers. There is some talk of small yields in parts of Manitoba, but overall production ideas are big for the Prairies despite the variable yield results so far in Manitoba. Reports of warm and dry weather supported ideas of big harvest progress. Some selling was seen as export demand seems slow. Cash movement by farmers is reported slow this week as the farmers are with the new crop harvest and not interested in selling. Most crops appear to be in good condition. Palm Oil was closed today. SGS estimated exports so far this month at 1.620 million tons, from 1.628 million last month.
Overnight News:
Chart Analysis: Trends in Canola are up with objectives of 590.00 November. Support is at 574.00, 570.00, and 566.00 November, with resistance at 584.00, 589.00, and 591.00 November. Trends in Palm Oil are mixed to down with objectives of 2960 and 2880 November. Support is at 2960, 2895, and 2880 November, with resistance at 2990, 3035, and 3090 November.
Midwest Weather: Mostly dry, but there will be periods of showers and storms over the weekend. Temperatures will average near normal.
Questions? Ask Jack Scoville today at 312-264-4322
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