Grains Report 07/11/19
Jack Scoville of The PRICE Futures Group - InsideFutures.com - Thu Jul 11, 1:15PM CDT

DJ U.S. Wheat Production Estimates — Survey
CHICAGO–The following are analysts’ estimates for 2019-20 U.S. wheat production, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated production forecasts at noon on Thursday.
2019-20 Wheat Production
Average Range USDA June USDA 2018-19
All Wheat 1,905 1,700-1,995 1,903 1,884
Winter Wheat 1,278 1,231-1,314 1,274 1,184
Hard Red Winter 804 783-835 794 662
Soft Red Winter 254 240-262 258 286
White Winter 224 220-234 222 236
Other Spring 581 550-625 N/A 623
Durum 60 44-80 N/A 77
All Winter Other
Wheat Hard-Red Soft-Red White Spring Durum
AgriVisor 1,700 N/A N/A N/A N/A N/A N/A
Allendale 1,867 1,269 783 262 224 553 44
DC Analysis 1,920 1,279 799 260 220 583 58
Doane 1,880 1,264 N/A N/A N/A N/A N/A
Farm Futures 1,936 1,231 793 256 234 N/A 58
Grain Cycles 1,885 1,265 785 260 220 N/A N/A
INTL FCStone 1,921 1,286 806 256 224 576 59
North star 1,995 1,290 820 245 225 625 80
Sid Love Consulting 1,923 1,295 818 255 222 N/A N/A
Price Futures 1,931 1,286 808 255 223 586 59
Prime Ag 1,950 N/A N/A N/A N/A N/A N/A
RMC 1,898 N/A N/A N/A N/A N/A N/A
RJ O’Brien 1,944 1,314 835 252 227 575 55
Vantage RM 1,925 1,274 794 258 222 598 53
US Commodities 1,910 1,300 810 240 225 N/A N/A
Zaner Ag Hedge 1,891 1,266 794 254 222 550 75

DJ U.S. Corn, Soybean Production Estimates — Survey
CHICAGO–The following are analysts’ estimates for 2019 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 Thursday.
U.S. 2019 Production (million bushels, bushels per acre)
Average Range USDA June USDA 2018
Corn Production 13,511 12,566-13,880 13,680 14,420
Soybean Production 3,850 3,700-4,015 4,150 4,544
Corn Yield 164.9 162.0-167.0 166.0 176.4
Soybean Yield 48.4 47.0-50.0 49.5 51.6
Corn Soybean
Production Yield Production Yield
AgriVisor 13,880 166.0 3,900 49.5
Allendale 13,745 163.0 3,890 49.0
DC Analysis 13,636 166.5 3,710 48.0
Doane 13,163 162.5 3,700 47.4
Farm Futures 13,348 167.0 3,948 49.8
Grain Cycles 13,878 166.0 3,871 49.0
INTL FCStone 12,566 165.0 3,812 47.5
Northstar 13,675 167.0 3,802 47.0
Price Futures 13,625 163.0 3,945 50.0
Prime Ag 13,710 164.0 3,762 47.5
RMC 13,100 165.0 4,015 48.5
Sid Love Consulting 13,256 166.0 3,994 48.0
US Commodities 13,877 165.0 3,738 47.3
Vantage RM 13,349 162.0 3,865 48.8
Zaner Ag Hedge 13,861 166.0 3,803 48.0

DJ U.S. July Grain, Soybean Stockpiles Estimates — Survey
CHICAGO–The following are analysts’ estimates in millions of bushels for U.S. ending stockpiles for 2018-19 and 2019-20, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Thursday at noon ET.
U.S. Stockpiles (millions)
2018-19
Average Range USDA June
Corn 2,179 1,615-2,385 2,195
Soybeans 1,038 935-1,100 1,070
Wheat 1,076 1,055-1,102 1,102
2019-20
Average Range USDA June
Corn 1,642 1,235-1,942 1,675
Soybeans 812 558-1,111 1,045
Wheat 1,028 925-1,092 1,072
2018-19 2019-20
Corn Soybeans Wheat Corn Soybeans Wheat
AgriVisor 2,250 1,100 1,070 1,850 950 975
Allendale 2,270 1,024 1,072 1,736 869 1,049
DC Analysis 2,270 1,038 N/A 1,681 588 925
Doane 2,220 1,025 1,072 1,410 650 1,010
Farm Futures 2,385 974 1,072 1,716 916 1,092
Grain Cycles 2,220 1,050 1,072 1,858 806 1,021
INTL FCStone 2,224 1,094 1,072 1,235 1,111 991
Sid Love Consulting 2,145 1,040 1,072 1,451 854 1,060
Northstar 2,070 1,000 1,102 1,545 720 1,000
Price Futures 2,145 1,005 1,072 1,570 815 1,070
Prime-Ag 2,245 1,040 1,072 1,655 627 1,074
RMC 1,615 935 1,055 1,655 985 1,055
RJ O’Brien 2,290 1,085 N/A 1,742 876 1,079
US Commodities 2,270 1,090 1,082 1,942 558 1,030
Vantage RM 2,155 1,070 1,102 1,504 895 997
Zaner Ag Hedge 2,095 1,030 1072 1,726 773 1,020

DJ July World Grain, Soybean Stockpiles Estimates — Survey
CHICAGO–The following are analysts’ estimates in millions of metric tons for world grain and soybean ending stockpiles for 2018-19 and 2019-20, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Thursday at noon ET.
World Stockpiles (million metric tons)
2018-19
Average Range USDA June
Corn 325.0 320.0-329.6 325.4
Soybeans 112.6 111.6-115.5 112.8
Wheat 276.1 273.0-278.0 276.6
2019-20
Average Range USDA June
Corn 290.2 282.4-294.5 290.5
Soybeans 110.7 103.0-124.1 112.7
Wheat 290.8 279.9-295.0 294.3
2018-19 2019-20
Corn Soybeans Wheat Corn Soybeans Wheat
AgriVisor 320.0 113.0 278.0 285.5 114.0 292.0
Allendale 326.4 111.6 275.2 292.6 110.2 293.7
Doane 325.0 113.0 276.0 283.5 108.0 292.0
Farm Futures 329.6 112.3 273.0 294.5 107.0 286.4
Grain Cycles 326.0 112.0 276.5 291.0 109.5 289.0
INTL FCStone 322.7 115.5 276.2 282.4 124.1 279.9
Northstar 325.0 112.8 276.0 294.0 109.0 294.0
Prime-Ag 326.0 112.0 276.0 290.0 104.0 295.0
RMC 325.0 111.8 276.3 289.9 112.5 293.9
US Commodities 325.0 112.8 277.0 294.5 103.0 293.0
Zaner Ag Hedge 323.8 112.0 276.6 294.2 115.9 289.7

DJ July Brazil, Argentina Corn, Soybean Production Estimates – Survey
CHICAGO–The following are analysts’ estimates in millions of metric tons for Brazil and Argentina corn and soybean production for 2018-19, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release its monthly estimates on Thursday at noon ET.
Brazil Corn, Soybean Production (million metric tons)
Average Range USDA June
Corn 100.9 99.7-102.0 101.0
Soybeans 117.0 116.0-118.0 117.0
Corn Soybeans
AgriVisor 101.00 116.00
Allendale 101.00 117.00
DC Analysis 102.00 117.00
Doane 101.00 117.00
INTL FCStone 99.70 116.50
Northstar 101.00 117.00
Price Futures 101.00 117.00
Prime Ag 101.00 117.00
RMC 101.20 117.20
US Commodities 101.00 118.00
Zaner Ag Hedge 100.50 117.00
Argentina Corn, Soybean Production (million metric tons)
Average Range USDA June
Corn 49.2 48.8-50.0 49.0
Soybeans 56.1 55.8-57.0 56.0
Corn Soybeans
AgriVisor 50.00 57.00
Allendale 49.00 56.00
DC Analysis 49.00 56.00
Doane 49.00 56.00
INTL FCStone 48.75 56.25
Northstar 49.00 56.00
Price Futures 49.00 56.00
Prime Ag 49.00 56.00
RMC 49.10 56.20
US Commodities 49.30 55.80

DJ U.S. Export Sales: Weekly Sales Totals – Jul 11
For the week ended Jul 4, 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 soy meal and
soy oil Oct 1. Source: USDA
wk’s net chg total
in commitments commitments undlvd sales
this yr next yr this yr last yr this yr next yr
wheat 284.4 0.0 7508.5 6128.4 4883.9 0.0
hrw 128.1 0.0 3024.6 1532.3 1664.9 0.0
srw 11.2 0.0 1025.7 756.1 797.1 0.0
hrs 92.0 0.0 1886.0 1970.7 1309.1 0.0
white 68.8 0.0 1359.6 1721.0 955.6 0.0
durum -15.8 0.0 212.5 148.4 157.2 0.0
corn 505.4 -108.4 49421.0 58095.3 5395.5 3226.8
soybeans 132.2 129.5 48594.4 57450.6 10059.9 2605.4
soymeal 44.9 7.7 11318.3 11545.5 2303.1 698.8
soyoil 8.5 0.1 813.4 995.4 148.3 4.3
upland cotton 53.4 38.4 15316.0 16305.8 3349.6 4093.1
pima cotton 0.7 2.8 728.9 639.2 112.2 61.1
sorghum 66.4 0.0 1621.1 5158.6 225.3 0.0
barley 0.4 0.0 51.7 48.9 46.7 0.0
rice 65.9 0.0 3436.6 2970.5 582.6 66.9

DJ CBOT Delivery Intentions: Totals – Jul 11
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL July Jul. 12, 2019 40 Jul 08, 2019
SOYBEAN OIL July Jul. 12, 2019 152 Jul 10, 2019
ROUGH RICE July Jul. 12, 2019 14 Jun 28, 2019
CORN July Jul. 12, 2019 132 Jul 08, 2019
KC HRW WHEAT July Jul. 12, 2019 3 Jul 03, 2019
SOYBEAN July Jul. 12, 2019 214 Jul 10, 2019

DJ Heatwave to Hit EU Cereal Harvest -Strategie Grains
By Joe Wallace
The heat wave that struck Europe in June will hurt the wheat and corn harvest, French consultancy Strategie Grains said in a report on Thursday.
European Union members will produce 140.6 million tons of soft wheat in the 2019-20 season, Strategie said, 2.2 million tons less than it forecast a month ago. Farmers are expected to produce 62.7 million tons of corn, the EU’s second-biggest crop, 0.7 million tons less than the consultancy predicted in its June report.
Strategie cut its forecast for overall production–which also includes barley, durum and other cereals–for a third straight month, to 301.4 million tons from 305 million tons.
The downward revisions follow a short but extreme bout of heat in late June, during which France experienced its highest-ever recorded temperature and the mercury also soared in Germany, Poland, Spain and elsewhere.
The harvest is still expected to be considerably stronger than last year’s drought-struck crop, and Strategie forecasts that stockpiles of wheat will rise over the course of the 2019-20 marketing year.
In corn, however, Strategie expects stockpiles to shrink, which could boost prices.
“The situation will…remain fragile through the summer, the period in which Europe’s [corn] plants will undergo their crucial flowering phase,” Strategie said. “If the dry weather persists through the coming weeks, especially in France, this would support new crop French [corn] prices and could even push them upwards.”
So far, European crop futures have barely reacted to the heat wave. Milling wheat futures have fallen 1.5% over the past month to EUR178.25 a ton, while corn has risen 0.9% to EUR177.50 ton.

WHEAT
General Comments: Wheat markets were lower to start yesterday on ideas of good harvest progress and high yields. The market closed higher on forecasts for hot and dry weather in the Midwest that rallied both Corn and Soybeans. USDA showed on Monday that the Winter Wheat harvest was moving faster than previously and also showed improved Spring Wheat crop condition. Reports from the fields indicate that yields are high as Winter Wheat crops have had more than enough moisture this year. It is drier now and that is allowing for the increased harvest pace. Rains are improved in the northern Great Plains and into Canada and growing conditions for the Spring Wheat crops are improving. Drier weather in forecast for Canada. Conditions are also reported to be improving in Spring Wheat areas in Russia as temperatures are expected to moderate and some showers are expected. It is still hot and dry near the Black Sea so crops in these areas of Russia and Ukraine are being hurt. It is almost harvest time for Winter crops in these areas. Conditions are very hot in Europe and kernel fill could be affected.
Overnight News: The southern Great Plains should get mostly dry conditions. Temperatures should be below normal. Northern areas should see showers and storms off and on through the weekend. Temperatures should be near to below normal. The Canadian Prairies should see scattered showers later this week and through the weekend. Temperatures should be near normal.
Chart Analysis: Trends in Chicago are mixed to down with objectives of 499 September. Support is at 498, 494, and 491 September, with resistance at 507, 514, and 517 September. Trends in Kansas City are mixed. Support is at 431, 425, and 418 September, with resistance at 444, 450, and 452 September. Trends in Minneapolis are down with no objectives. Support is at 525, 524, and 521 September, and resistance is at 536, 543, and 546 September.

RICE
General Comments: Rice was higher once again as traders anticipate changes made in the supply and demand reports later today. It is possible that USDA will show reduced area and yield potential today. The weather is improving in Rice country as it finally seems to be turning warmer and drier. Growers are worried in Louisiana and Texas about the potential hurricane at the end of this week as big rains and winds could greatly damage crop in both states. Most crops are in flood, but many crops in Arkansas are not at that stage of development yet. Indian price trends in the near future are a guess as the monsoon has been late to arrive, but the monsoon is active now in central and southern parts of the country. June rains were less than average this year and even some cities are worried that they can run out of water unless the rains get significantly better. There are forecasts for reduced rains from the monsoon this year implying lower yields and lower overall production potential.
Overnight News: The Delta should get mostly dry conditions in the north, but showers are possible in southern areas starting tomorrow. Temperatures should be near to above normal.
Chart Analysis: Trends are up with objectives of 1220 September. Support is at 1172, 1166, and 1154 September, with resistance at 1202, 1212, and 1224 September.

CORN AND OATS
General Comments: Corn closed higher on weather forecasts for hot and dry weather for the next couple of weeks. Hot and dry weather now could really hurt the crop as development is way behind and the root structure for much of the Corn in the Midwest is not good due to the previous wet weather. USDA showed that crop condition was as expected, but that the crops remain very late. It will take a very late Fall to get the crops home with no additional losses as there is a long way to go. It is warmer now so the crops have a chance to progress, but rain will be needed frequently due to the poor root structure as the crop got planted in mostly very wet conditions. USDA is expected to show the big planted area from the June reports and reduced yield potential in the WASDE updates later this morning. US domestic basis levels are higher this week as farmers are not selling. The farmer will wait until he has better hopes for a good production year before selling the rest of the old crop.
Overnight News: Ethanol production was 1.047 million barrels per day last week, from 1.081 million the previous week and 1.033 million the previous year. Ethanol stocks are now 23.0 million barrels, from 22.8 million the previous week and 22.4 million the previous year. Ethanol processors used 106.7 million bushels of Corn, from 110.2 million the previous week and 106.0 million the previous year. use for ethanol production now totals 4.641 billion bushels.
Chart Analysis: Trends in Corn are mixed. Support is at 429, 425, and 421 September, and resistance is at 440, 442, and 445 September. Trends in Oats are mixed to down with objectives of 265 and 254 September. Support is at 270, 268, and 266 September, and resistance is at 278, 282, and 283 September.

SOYBEANS AND PRODUCTS
General Comments: Soybeans and products closed higher as the market started to prepare for the latest WASDE supply and demand updates later this morning. Forecasts for hot and dry weather in the Midwest that could damage production potential were also supportive. The crop development is far behind so the chances for increased losses are greater. The market had expected a slight improvement in the crop condition ratings on Monday but got slight deterioration. Many fields had just emerged and no fields showed plants much over six inches tall. These crops have a long way to go before there can be much of a harvest for Soybeans in this area this year. There will undoubtedly be yield loss and USDA will start to calculate the lost crop potential in its monthly updates next month. In the meantime, it could show reduced production potential as the June reports showed less than expected planted area. US domestic basis levels are higher this week as farmers are not selling. The farmer will wait until he has better hopes for a good production year before selling the rest of the old crop.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed. Support is at 884, 872, and 863 August, and resistance is at 903, 909, and 917 August. Trends in Soybean Meal are mixed. Support is at 308.00, 304.00, and 300.00 August, and resistance is at 313.00, 316.00, and 317.00 August. Trends in Soybean Oil are mixed. Support is at 2780, 2760, and 2730 August, with resistance at 2830, 2860, and 2870 August.

CANOLA AND PALM OIL
General Comments: Canola was lower on reports of rain in parts of the Prairies. Manitoba got some big rains in southern areas. Canola was also lower on the stronger Canadian Dollar. The weather is mixed, with many areas still dry and crops getting stressed, but some areas in the southwest parts getting some rains this week. Palm Oil was a little lower on disappointing demand data from SGS. Futures made a new low for the move, then recovered to close with slight losses.
Overnight News:
Chart Analysis: Trends in Canola are mixed to down with no objectives. Support is at 444.00, 442.00, and 437.00 November, with resistance at 452.00, 457.00, and 459.00 November. Trends in Palm Oil are down with objectives of 1920 and 1800 September. Support is at 1910, 1880, and 1850 September, with resistance at 1980, 2010, and 2020 September.

Midwest Weather Forecast: Mostly dry. Temperatures should be near normal.

US Gulf Cash Basis
Corn HRW SRW Soybeans Soybean Meal Soybean Oil
July +55 Sep +155 Sep +40 Sep +59 Aug N/A N/A
August +54 Sep +50 Sep +58 Aug
September +54 Sep +70 Sep +38 Nov
All basis levels are positive unless noted as negative

Brazil Premiums Soybeans Soybean Meal Soybean Oil Corn
Paraguay Paraguay Paraguay Santos
July
August
September

DJ ICE Canada Cash Grain Close – Jul 10
By MarketsFarm
WINNIPEG, July 10 (MarketsFarm) – The following are the closing
cash canola prices from ICE Futures for Wednesday, July 10.
Source: ICE Futures
CANOLA
1 Canada NCC Best Bid
Spot Price Basis Contract Change
*Par Region 438.80 -10.00 Nov 2019 up 1.50
Track Thunder Bay 452.80 7.00 Nov 2019 dn 3.00
Track Vancouver 463.80 18.00 Nov 2019 dn 3.00
All prices in Canadian dollars per metric ton.

DJ Malaysian PM Cash Market Prices for Palm Oil – July 11
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Thursday, 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 Ware 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 487.50 +02.50 Unquoted – –
Aug 490.00 +02.50 Unquoted – –
Sep 492.50 +02.50 Unquoted – –
Oct/Nov/Dec 512.50 +02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jul 492.50 +02.50 Unquoted – –
Aug 495.00 +02.50 Unquoted – –
Sep 497.50 +02.50 Unquoted – –
Oct/Nov/Dec 517.50 +02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jul 472.50 00.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jul 350.00 00.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jul 1900.00 +10.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jul 132.00 +01.00 Unquoted – –
($1=MYR 4.1160)

DJ China Dalian Grain Futures Closing Prices, Volume – Jul 11
Soybean No. 1
Turnover: 110,862 lots, or 3.77 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-19 – – – 3,380 3,380 3,380 0 0 0
Sep-19 3,398 3,418 3,385 3,390 3,406 3,399 -7 101,056 144,186
Nov-19 3,478 3,480 3,428 3,428 3,475 3,460 -15 50 320
Jan-20 3,415 3,422 3,401 3,403 3,409 3,411 2 7,864 53,160
Mar-20 – – – 3,427 3,427 3,427 0 0 30
May-20 3,529 3,529 3,505 3,513 3,515 3,514 -1 1,892 26,062
Corn
Turnover: 593,642 lots, or 11.47 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-19 – – – 1,912 1,912 1,912 0 0 0
Sep-19 1,913 1,918 1,909 1,914 1,916 1,913 -3 360,378 921,856
Nov-19 1,947 1,949 1,936 1,939 1,947 1,942 -5 103,082 345,320
Jan-20 1,974 1,981 1,969 1,973 1,977 1,973 -4 122,902 569,982
Mar-20 1,998 1,998 1,989 1,990 1,999 1,991 -8 364 2,314
May-20 2,039 2,045 2,033 2,036 2,039 2,037 -2 6,916 107,462
Soymeal
Turnover: 2,085,802 lots, or 58.31 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-19 – – – 2,764 2,764 2,764 0 0 0
Aug-19 2,779 2,794 2,770 2,777 2,760 2,781 21 244 2,188
Sep-19 2,788 2,803 2,768 2,789 2,764 2,788 24 1,710,938 1,640,844
Nov-19 2,812 2,833 2,803 2,823 2,794 2,821 27 92,548 211,120
Dec-19 2,842 2,888 2,817 2,888 2,814 2,842 28 322 1,280
Jan-20 2,846 2,858 2,834 2,849 2,826 2,846 20 246,660 561,144
Mar-20 2,792 2,807 2,782 2,782 2,772 2,792 20 16 750
May-20 2,736 2,744 2,726 2,737 2,727 2,737 10 35,074 208,538
Palm Oil
Turnover: 360,044 lots, or 15.27 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-19 – – – 4,000 4,000 4,000 0 0 0
Aug-19 4,294 4,294 4,118 4,118 4,234 4,206 -28 4 2
Sep-19 4,204 4,218 4,188 4,198 4,198 4,200 2 294,290 623,282
Oct-19 – – – 4,296 4,296 4,296 0 0 16
Nov-19 4,324 4,398 4,324 4,324 4,502 4,336 -166 12 18
Dec-19 – – – 4,452 4,452 4,452 0 0 10
Jan-20 4,412 4,424 4,404 4,414 4,412 4,412 0 63,946 234,674
Feb-20 – – – 4,470 4,470 4,470 0 0 4
Mar-20 – – – 4,598 4,598 4,598 0 0 12
Apr-20 – – – 4,612 4,612 4,612 0 0 2
May-20 4,632 4,646 4,632 4,642 4,638 4,638 0 1,792 21,772
Jun-20 – – – 4,692 4,692 4,692 0 0 2
Soybean Oil
Turnover: 444,534 lots, or 24.38 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-19 – – – 5,330 5,330 5,330 0 0 0
Aug-19 5,428 5,428 5,350 5,350 5,396 5,384 -12 18 32
Sep-19 5,460 5,470 5,420 5,440 5,442 5,446 4 346,342 651,850
Nov-19 – – – 5,492 5,492 5,492 0 0 6
Dec-19 5,590 5,602 5,416 5,490 5,640 5,524 -116 46 28
Jan-20 5,622 5,636 5,588 5,606 5,604 5,612 8 94,430 264,782
Mar-20 – – – 5,640 5,640 5,640 0 0 12
May-20 5,730 5,744 5,698 5,718 5,718 5,716 -2 3,698 34,142
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.