DJ CBOT Delivery Intentions: Totals – Sep 13
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN OIL September Sep. 14, 2011 397 Sep 12, 2011
ROUGH RICE September Sep. 14, 2011 144 Sep 12, 2011
OATS September Sep. 14, 2011 23 Sep 06, 2011
SOYBEAN September Sep. 14, 2011 603 Sep 12, 2011
WHEAT September Sep. 14, 2011 14 Sep 12, 2011
DJ KCBT Wheat Delivery Intentions Breakdown – Sep 13
Intentions Reintentions
Intention Date: Sep 13, 2011 KC 0 0
Delivery Date: Sep 14, 2011 Hutchinson 0 0
Oldest long date: Sep 9, 2011 Salina/Abilene 0 5
Wichita 0 0
Totals 0 5
MGEX Spring Wheat Deliveries for Sept 13
The Minneapolis Grain Exchange reported the following deliveries
against SEPT spring wheat futures. (in contracts)
OLDEST LONG DATE FOR—SPRING WHEAT FUTURES: 8/29/11
DELIVERED DULUTH/SUPERIOR 0
TOTAL ORIGINAL DELIVERY: 0
TOTAL RE-DELIVERY: 0
Notes: REG=House Account. SEG=Customer Account, RDEL=Re-delivery,
ORIG=Original delivery, N/A=not available.
09/12 15:00 CDT U.S. weekly crop progress highlights – USDA
WASHINGTON, Sept. 12 (Reuters) – Highlights of the U.S. Agriculture
Department’s weekly crop progress report (all numbers expressed in percent):
Week ended 09/11/11 09/04/11 09/11/10 5-year
COTTON CONDITION
– Excellent 4 4 14 N/A
– Good 24 24 45 N/A
– Fair 28 28 29 N/A
– Poor 19 19 9 N/A
– Very Poor 25 25 3 N/A
CORN CONDITION
– Excellent 11 11 21 N/A
– Good 42 41 47 N/A
– Fair 27 27 20 N/A
– Poor 13 13 8 N/A
– Very Poor 7 8 4 N/A
SOYBEANS CONDITION
– Excellent 12 11 17 N/A
– Good 44 45 46 N/A
– Fair 27 28 24 N/A
– Poor 12 11 9 N/A
– Very Poor 5 5 4 N/A
RICE CONDITION
– Excellent 24 25 16 N/A
– Good 40 39 48 N/A
– Fair 28 28 28 N/A
– Poor 7 7 6 N/A
– Very Poor 1 1 2 N/A
PEANUTS CONDITION
– Excellent 6 6 13 N/A
– Good 31 32 44 N/A
– Fair 40 36 32 N/A
– Poor 17 19 9 N/A
– Very Poor 6 7 2 N/A
SORGHUM CONDITION
– Excellent 4 4 10 N/A
– Good 21 21 52 N/A
– Fair 30 31 29 N/A
– Poor 24 24 7 N/A
– Very Poor 21 20 2 N/A
PASTURE AND RANGE CONDITION
– Excellent 5 5 7 N/A
– Good 27 28 37 N/A
– Fair 26 25 33 N/A
– Poor 18 18 16 N/A
– Very Poor 24 24 7 N/A
COTTON BOLLS OPEN 57 42 54 44
COTTON HARVESTED 9 7 8 7
CORN DOUGHING 97 94 99 96
CORN DENTED 84 71 92 82
CORN MATURE 29 18 50 33
SOYBEANS DROPPING LEAVES 15 6 35 27
WINTER WHEAT PLANTED 6 NA 8 10
RICE HEADED 96 94 99 98
RICE HARVESTED 37 28 54 37
SPRING WHEAT HARVESTED 83 68 81 87
SORGHUM HEADED 63 54 83 74
SORGHUM MATURE 32 30 35 35
SORGHUM HARVESTED 23 22 20 26
BARLEY HARVESTED 85 71 81 88
OATS HARVESTED 98 94 99 99
DJ USDA Grain Inspections For Export In Metric Tons-Sep 12
For the week ending Sep 8, in thousand metric tons. Includes
waterway shipments to Canada.
Grain ——-week ending——- current previous
Sep 8 Sep 1 last mkt yr mkt yr
year to date to date
Wheat 427.7 628.3 876.6 8,582.1 8,065.1
Rye 0.0 0.0 0.0 0.0 0.0
Oats 0.0 0.0 0.1 2.2 0.5
Barley 50.6 1.9 2.3 116.0 9.0
Flaxseed 0.0 0.0 0.1 0.0 0.8
Corn 420.2 619.6 1,101.1 534.4 1,527.8
Sorghum 81.5 67.7 14.7 86.4 26.3
Soybeans 320.0 270.0 198.2 372.7 288.1
Sunflower 0.0 0.0 0.0 0.0 0.0
Total 1,300.0 1,587.6 2,193.1 9,694.0 9,917.5
Crop marketing years begin June 1 for wheat, rye, oats, and barley.
September 1 for corn, sorghum, and soybeans.
WHEAT
General Comments: Futures closed lower yesterday in response to selling seen in most markets and higher than expected US and world stocks estimates from USDA. USDA cut export demand and raised import demand for the US. The new import demand reflects the need for cheaper feed and was negative to Corn as well. However, Corn was able to rally after trading lowr early in the session. 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 buying after the lower start. Some forecasts call for some showers in the region this week. Yields and quality in Spring Wheat areas was hurt earlier in the season due to excessive rains in the north, but harvest conditions now are good. 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. Charts show that the trends are down for at least the short term.
Overnight News: Mostly dry conditions or light showers are expected in the southern Great Plains, and Texas should get showers in the Panhandle. Northern areas could see mostly dry conditions. Temperatures should average near to below normal or below normal. The Canadian Prairies should get mostly dry conditions or light showers. Temperatures will average near normal. Gulf basis levels are weaker for Soft Red Winter Wheat and steady for Hard Red Winter Wheat. Japan is seeking 109,356 tons of Wheat this week and Syria wants to buy 100,000 tons of Soft Wheat. Lybia bought 50,000 tons of Wheat in Russia overnight.
Chart Analysis: Trends in Chicago are mixed to down with objectives of 687 December. Support is at 720, 710, and 708 December, with resistance at 746, 750, and 758 December. Trends in Kansas City are down with no objectives. Support is at 821, 816, and 802 December, with resistance at 843, 847, and 854 December. Trends in Minneapolis are down with objectives of 893 and 864 December. Support is at 897, 885, and 878 December, and resistance is at 922, 950, and 957 December.
RICE
General Comments: Prices were higher on the USDA reports. USDA showed more Rice product ion than had been expected, but all of the increases were in medium and small grain production. Data for long grain showed less production and less ending stocks and were bullish in the end for futures. The harvest continues to move north, although many producers near the Gulf Coast about done with the harvest. Initial yield reports are poor in Arkansas. Yield reports are getting worse along the Gulf Coast as farmers move through later planted Rice. Milling yields have not been good as harvest progresses. US cash markets are reported to be steady to firm in Arkansas. New crop bids have also been steady to firm. Cash markets in Texas and Louisiana appear steady to firm. Futures remain well above cash prices. India sold its first non Basmati Rice into the world market at $470.00 per ton. Price action yesterday implied that more gains are possible this week.
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. India sold its first non Basmati Rice into the world market at $470.00 per ton. Indian 2011-12 Summer production is estimated by 87.10 tons. Pakistan said that rain has caused little damage to Sugarcane or Rice crops.
Chart Analysis: Trends are mixed to up with objectives of 1859 and 1934 November. Support is at 1829, 1822, and 1811 November, and resistance is at 1842, 1854, and 1860 November.
CORN AND OATS
General Comments: Corn closed higher and Oats closed lower yesterday in reaction to the USDA reports. USDA cut production for Corn, but also demand and posted ending stocks estimates that were higher than anticipated. It cut export demand and also demand for ethanol, and could have cut feed demand as well. However, the market concentrated on the product ion estimates and weather. A cold front is moving into the Midwest and could bring a frost or freezes to some of the crop in the north and west later this week. The cash market is steady, and cash market buyers have been hard to find with current prices. 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. Basis levels are weak in the country as the elevators prepare for the harvest. Oats are about done being harvested, so the market might soon find a bottom.
Overnight News: Basis was steady at the Gulf of Mexico.
Chart Analysis: Trends in Corn are mixed. Support is at 738, 734, and 730 December, and resistance is at 746, 750, and 758 December. Trends in Oats are down with objectives of 325 December. Support is at 342, 338, and 334 September, and resistance is at 349, 359, and 361 December.
SOYBEANS AND PRODUCTS
General Comments: Soybeans and products were lower yesterday as USDA raised yield estimates in its reports. It also raised overall production estimates and ending stocks estimates. Futures traders ignored threats from a cold air mass moving into the Midwest this week. Forecasts call for frost or freezing conditions in northern and northwestern areas later this week as a cold air mass moved into the region. It also looks like a dry week in many production areas. It is still pod setting and pod filling time, and moisture needs are high. Soybeans 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 down for the short term.
Overnight News: Basis levels are steady at the gulf. Gulf Soybean Meal basis is steady.
Chart Analysis: Trends in Soybeans are down with objectives of 1402 and 1370 November. Support is at 1388, 1375, and 1349 November, and resistance is at 1405, 1408, and 1410 November. Trends in Soybean Meal are down with objectives of 356.00 October. Support is at 360.00, 354.00, and 353.00 October, and resistance is at 367.00, 372.00, and 375.00 October. Trends in Soybean Oil are mixed to down with objectives of 5675 and 5575 October. Support is at 5680, 5660, and 5625 October, with resistance at 5770, 5810, and 5840 October.
CANOLA AND PALM OIL
General Comments: Canola was lower on price action in US Soybeans. Forecasts for a frost in the Canadian Prairies this week provided some support. Ideas of increased deliveries from farmers were also negative and hurt November on spreads. Producers and elevators were the best buyers. Reports of 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 lower today in reaction to the USDA Soybeans production estimates. Ideas it was too cheap to Soybean Oil provided some support. Workers were not so active during the month, but exports are only expected to be flat from last month as demand holds stable. SGS estimated exports so far this month at 389,069 tons, from 608,236 tons last month. ITK estimated exports at 377,038 tons, from 592,538 tons last month.
Overnight News:
Chart Analysis: Trends in Canola are mixed to down with objectives of 554.00 November. Support is at 560.00, 557.00, and 553.00 November, with resistance at 569.00, 574.00, and 576.00 November. Trends in Palm Oil are mixed. Support is at 3035, 3015, and 2990 November, with resistance at 3075, 3090, and 3140 November.
09/11 23:47 CDT Malaysia’s August palm oil stocks down 5.6 pct-MPOB
KUALA LUMPUR, Sept 12 (Reuters) – Malaysia’s August palm oil stocks fell 5.6
percent to 1,884,560 tonnes from a revised 1,996,396 tonnes in July, industry
regulator Malaysian Palm Oil Board said on Monday.
August’s fall exceeded market expectations that stocks in the world’s No.2
palm oil producer likely dropped 2.3 percent to 1.95 million tonnes. [PALM/POLL]
The following is a breakdown of Malaysian Palm Oil Board figures and Reuters
estimates for August:
(volumes in tonnes)
August 2011 August poll August 2010 July 2011
Output 1,667,230 1,700,000 1,606,420 1,751,296
Stocks 1,884,560 1,950,000 1,709,735 1,996,396
Exports 1,688,785 1,650,000 1,211,340 1,735,843
Imports* 63,860 90,000 85,139 97,114
* Refers to Malaysian imports of mostly Indonesian crude palm oil
Midwest Weather: Mostly dry. Temperatures will average near to below normal.
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