DJ U.S. Export Sales: Weekly Sales Totals – Sep 23
For the week ended Sep 16, 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. 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 355.9 0.0 10784.7 13483.9 3944.3 0.0
hrw 34.7 0.0 4110.1 5009.1 1572.5 0.0
srw 25.1 0.0 1695.6 1124.7 749.9 0.0
hrs 124.5 0.0 2926.0 3948.1 980.9 0.0
white 115.4 0.0 1926.2 2867.3 575.5 0.0
durum 56.2 0.0 126.9 534.7 65.5 0.0
corn 373.0 0.0 24945.7 22595.1 24100.0 333.2
soybeans 902.9 10.0 23192.4 35422.1 22659.7 12.0
soymeal 45.0 216.4 12280.9 12108.6 1090.6 2365.2
soyoil 4.3 0.0 691.6 1281.4 17.0 7.6
upland cotton 345.4 0.0 6652.4 7722.2 5300.8 686.8
pima cotton 23.5 0.0 198.2 289.2 155.3 0.0
sorghum 123.0 0.0 2272.5 2763.9 2269.4 0.0
barley 0.0 0.0 25.2 42.1 20.5 0.0
rice 28.8 0.0 789.0 624.4 440.0 0.0

DJ USDA Cold Storage: Totals-Sep 22
WASHINGTON (Dow Jones)==U.S. stocks of pork bellies in freezers
totaled 17.469 million pounds, in August, 37.0% below the previous
month, and 43.7% below August 2020, the U.S. Department Agriculture
said Wednesday.
In thousand pounds.
public
Aug 31 Jul 31 Aug 31 Jul 31 warehouse
2021 2021 2020 2020 stocks/Aug
pork bellies 17,469 27,722 31,053 42,374
orange juice 630,885 695,146 723,932 777,820
french fries 884,069 885,044 917,273 867,817
other potatoes 195,983 195,452 222,473 219,902
chicken rstr (whole) 13,722 11,997 29,041 26,670
ham 185,697 152,613 143,909 136,621
total pork 460,059 442,390 464,919 460,635 407,952
total beef 414,935 400,814 449,336 440,176 402,297
total red meat 903,101 869,617 960,686 950,851 837,150
total chicken 708,022 730,905 883,538 876,853
total turkey 425,610 435,479 531,370 522,325
total poultry 1,137,046 1,169,307 1,421,660 1,406,973 1,047,340
===============================================================================

DJ Analysts’ Estimates for September USDA Cattle-On-Feed Report
The following estimates, as compiled by the Wall Street Journal for the nation’s feedyards with a capacity of 1,000 or more head, are in percentages of the year-earlier figure. High and low projections were dropped in the calculation of averages. The U.S. Department of Agriculture report is scheduled for release at 3 p.m. ET (1900 GMT) Friday.
Average Range
of estimates of estimates
On-feed Sep 1 98.1 97.2- 98.7
Placed in Aug 99.5 95.0- 102.8
Marketed in Aug 99.8 99.4- 101.4
Analyst On-Feed Placements Marketed
Sep 1 in Aug in Aug
Allegiant Commodity Group 98.3 100.6 99.8
Allendale Inc. 98.1 99.4 99.8
Hedgers Edge 98.5 102.8 101.4
Livestock Mktg Info Ctr 98.0 98.2 99.6
NFC Markets 98.7 102.6 99.4
Texas A&M Extension 97.2 95.0 99.8
U.S. Commodities 97.6 96.8 100.0

UPDATE 1-IGC raises forecast for 2021/22 global corn crop – Reuters News
23-Sep-2021 07:56:07 AM
To view this story on Refinitiv Workspace, click here
Adds details
LONDON, Sept 23 (Reuters) – The International Grains Council (IGC) on Thursday raised its forecast for the 2021/22 global corn crop, predominately reflecting improved outlooks for the United States and Ukraine.
In its monthly update, the inter-governmental body increased its 2021/22 world corn (maize) crop outlook by 7 million tonnes to a record 1.209 billion tonnes.
The crop in the United States, the world’s top corn producer, was seen at 380.3 million tonnes, up from a previous projection of 374.7 million but marginally below the U.S. Department of Agriculture’s forecast of 380.9 million issued earlier this month. (Full Story)
Ukraine’s corn crop was forecast to total 38.5 million tonnes, up from a previous projection of 37.3 million.
The IGC also trimmed its forecast for global wheat production in the 2021/22 season by one million tonnes to 781 million, with downward revisions for the European Union and Canada partially offset by improved outlooks for Australia and Ukraine.

WHEAT
General Comments: Wheat was higher in all three markets as trends started to turn up on the daily charts. The weekly export sales report showed average sales but there is more talk that Russia would severely restrict Wheat exports due to production lost to drought. Production is less this year and internal prices have been strong. Dry weather in southern Russia as well as the northern US Great Plains and Canadian Prairies remains a supportive feature in the market although the weather has become old news. The Russian weather has been good for production in northern and western areas but is still trending dry in southern areas and into Kazakhstan. Europe is expecting top yields in some areas but less yield in others and parts of eastern Europe and northern Russia are expecting strong yields. European quality is a problem due to too much rain in some areas and not enough in others.
Overnight News: The southern Great Plains should get mostly dry conditions. Temperatures should be above normal. Northern areas should see mostly dry conditions . Temperatures will be above normal. The Canadian Prairies should see mostly dry conditions. Temperatures should average above normal.
Chart Analysis: Trends in Chicago are mixed to up with objectives of 728, 738, and 769 December. Support is at 69707, 6701, and 686 December, with resistance at 723, 745, and 772 December. Trends in Kansas City are mixed to up with objectives of 728, 747, and 784 December. Support is at 707, 6702, and 686 December, with resistance at 723, 730, and 735 December. Trends in Minneapolis are up with objectives of 921, 926, and 938 December. Support is at 895, 880, and 862 December, and resistance is at 923, 933, and 9250 December.

RICE:
General Comments: Rice closed a little lower in consolidation trading. November futures finally broke strong resistance at 1380 and have closed above that level for the last couple of days and this is considered a positive technical sign for prices. The first crop has been largely harvested in Texas and will soon be harvested in Louisiana, but the second crop s still in the field and is still at risk of loss in both states. Harvesting continues in Louisiana and Texas and will start to wind down in both states over the next couple of weeks. A delayed harvest is expected in Mississippi and Arkansas but a few producers are starting to harvest now. Yield reports and quality reports have been acceptable to many in Texas and are called good in Louisiana. The harvest pace is expected to be slow
Overnight News: The Delta should get isolated showers. Temperatures should be near to below normal.
Chart Analysis: Trends are mixed to up with objectives of 1408 and 1436 November. Support is at 1364, 1350, and 1343 November, with resistance at 1392, 1401, and 1406 November.

CORN AND OATS:
General Comments: Corn was higher and is breaking out to the upside on the daily charts even with ideas of expanding harvest progress and weaker demand. Traders are now waiting on the harvest and yield reports but the gut slot of the harvest is still a couple of weeks away. Ideas are that the yield reports will be high and will confirm the USDA production estimates or even find better yields. However, there have been reports of diseases in Illinois fields so record production might not happen in that state. Initial yield reports have been mixed, with some lower yields reported due to disease. There are still the drought reduced crops in the northwestern Corn Belt and northern Great Plains to be counted as well. Most of the elevators along the Mississippi are starting to export again which is good news for nearby demand. New Orleans area elevators are now reported to be about 50% open. Electricity has been restored and the elevators are transloading grain if they are not fully open yet. The weather remains a feature of the trade but is less important now as the Corn is filling kernels and starting to mature. Ideas are that Brazil Corn production could be less than 85 million tons so reduced production estimates are expected in coming reports.
Overnight News: USDA announced yesterday that Guatemala bought 138,403 tons of US Corn.
Chart Analysis: Trends in Corn are mixed to up with objectives of 547 and 573 December. Support is at 523, 513, and 504 December, and resistance is at 528, 543, and 548 December. Trends in Oats are up with objectives of 597 and 636 December. Support is at 564, 558, and 537 December, and resistance is at 594, 600, and 606 December.

SOYBEANS
General Comments: Soybeans and Soybean Oil closed higher yesterday despite the approaching harvest, but Soybean Meal was lower. The debt ceiling fight in Congress and Chinese demand is supportive. People are worried about the taper away from debt by the Fed and how that will go as well. Harvest will soon be underway for Soybeans. The destruction of Gulf port facilities along the Mississippi River near New Orleans was still a factor in the trade but the elevators are coming on line and exports are increasing slowly. The hurricane moved onshore in Louisiana a week ago and did extensive damage to the state, including the grain export elevators. The state also lost electrical posser in all affected areas but power to the export elevators is being restored. China was the major buyer of US Soybeans in the weekly report even with cancellations showing. The demand news was positive for prices even through sales were down from the previous week and are less than the previous year.
Overnight News:
Chart Analysis: Trends in Soybeans are mixed. Support is at 1271, 1262, and 1258 November, and resistance is at 1300, 1309, and 13025 November. Trends in Soybean Meal are mixed. Support is at 333.00, 331.00, and 328.00 October, and resistance is at 341.00, 344.00, and 349.00 October. Trends in Soybean Oil are mixed. Support is at 5550, 5420, and 5360 October, with resistance at 5850, 5950, and 56010 October

CANOLA AND PALM OIL
General Comments: Palm Oil closed sharply higher yesterday on ideas of reduced production. It was lower today as liquidation selling was seen before the weekend and the new round of export data. Export volumes were up very significantly for Malaysia for the month so far. Ideas of strong export demand, especially from India, kept futures higher today. Exports were not strong last month and the trade saw big ending stocks when MPOB released its monthly data last week. Ideas are that Palm Oil got too expensive when compared to the other vegetable oils markets. There are ideas of tight supplies due to labor problems. There are just not enough workers in the fields due to Coronavirus restrictions. Production has also been down to more than offset the export losses so prices have trended higher. Canola closed higher on Chicago price action as the harvest is underway amid good conditions in the Prairies. Production ideas are down due to the extreme weather seen in these areas. It remains generally dry and warm in the Prairies. The Prairies crops are in big trouble now due to previous hot and dry weather.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 854.00, 849.00, and 830.00 November, with resistance at 888.00, 900.00, and 902.00 November. Trends in Palm Oil are up with objective of 4700 and 5050 December. Support is at 40340, 4200, and 4040 December, with resistance at 4500, 4560, and 4620 December.

DJ Canadian Oilseeds Monthly Crush – Sep 24
WINNIPEG–Crushing statistics of major oilseeds in Canada
for the month of August 2021, reported by Statistics Canada
are as follows:
Figures are in metric tons.
Year Ago 2021/22 2020/21
Canola Aug 2021 Aug 2020 To Date To Date
Seed crushed 661,968 830,335 661,968 830,335
Oil produced 287,295 363,424 287,295 363,424
Meal produced 382,007 465,059 382,007 465,059
Soybeans
Seed crushed 129,048 135,595 129,048 135,595
Oil produced 23,339 24,354 23,339 24,354
Meal produced 98,404 103,951 98,404 103,951
Source: Commodity News Service Canada ([email protected],
or 204-414-9084)

DJ Canadian Grain Handling Summary
WINNIPEG–The following are Canadian grain handling summary
statistics for the week ended Sept. 19, 2021. Figures in thousands of
metric tons.
Source: Canadian Grain Commission.
Durum
Wheat Wheat Oats Barley Flax Canola Peas Corn Total*
COMMERCIAL STOCKS
This Week 2724.9 594.8 359.8 609.6 27.5 1253.9 523.8 63.6 6537.6
Week Ago 2665.7 562.8 337.5 546.6 25.0 962.8 523.4 68.2 6087.7
Year Ago 2688.0 817.4 387.2 472.7 27.8 1433.5 532.6 39.2 7136.9
PRODUCER DELIVERIES
This Week 355.8 105.3 51.1 167.9 4.6 673.3 55.2 8.0 1488.5
Week Ago 385.6 114.5 50.2 188.3 3.0 685.9 81.9 7.3 1576.1
To Date 2415.7 487.0 352.1 928.3 16.1 2189.9 852.8 41.8 7732.9
Year Ago 2836.7 655.7 515.5 674.5 27.6 2879.0 1275.6 55.2 9693.7
TERMINAL RECEIPTS
This Week 364.9 47.1 11.8 153.2 0.2 192.0 70.2 0.0 906.0
Week Ago 332.4 71.1 0.2 92.9 0.0 29.8 124.8 2.7 704.5
To Date 2817.6 373.3 55.8 311.7 1.0 467.1 478.9 28.7 4800.8
Year Ago 4052.4 634.8 82.5 349.9 17.0 1558.1 710.8 15.1 7841.1
EXPORTS
This Week 329.4 63.6 17.4 76.5 0.3 90.1 126.1 0.0 786.8
Week Ago 218.5 63.3 41.9 15.4 0.8 13.7 209.2 0.0 568.4
To Date 2083.5 539.3 206.5 96.1 7.3 387.9 446.4 0.0 3949.3
Year Ago 2836.2 354.0 262.3 310.9 40.1 1361.0 656.5 10.1 6109.7
DOMESTIC DISAPPEARANCE
This Week 72.2 3.4 13.0 49.5 0.7 192.2 8.1 23.7 382.3
Week Ago 78.2 2.3 13.6 37.2 0.6 159.6 6.6 13.7 337.8
To Date 700.8 21.6 103.0 207.3 5.7 1130.8 38.3 124.8 2485.4
Year Ago 787.3 62.2 89.5 157.2 8.6 1355.7 23.8 135.9 2777.9
*Totals include data from other crops not shown including rye, soybeans,
canary seed, mustard seed, beans, lentils and chickpeas.

Midwest Weather Forecast: Isolated to scattered showers north and east, otherwise mostly dry conditions. Temperatures should average above normal in the west and near to above normal in the east.

US Gulf Cash Basis

Corn HRW SRW Soybeans Soybean Meal Soybean Oil
June July May May May
July July July July
August July July July

DJ ICE Canada Cash Grain Close – Sep 20
WINNIPEG — The following are the closing cash canola prices
from ICE Futures.
Source: ICE Futures
1 Canada NCC Best Bid
Price Basis Contract Change
CANOLA
*Par Region 873.70 0.00 Nov. 2021 up 6.00
Basis: Thunder Bay 911.10 50.00 Nov. 2021 up 7.40
Basis: Vancouver 941.10 80.00 Nov. 2021 up 2.40
All prices in Canadian dollars per metric tonne.
*Quote for previous day
Source: Commodity News Service Canada ([email protected],
or 204-414-9084

DJ Malaysian PM Cash Market Prices for Palm Oil – Sept 24
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
Oct 1192.50 -02.50 Unquoted – –
Nov 1182.50 00.00 Unquoted – –
Dec 1157.50 00.00 Unquoted – –
Jan/Feb/Mar 1080.00 +05.00 Unquoted – –
Apr/May/Jun 987.50 -02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Oct 1195.00 -02.50 Unquoted – –
Nov 1185.00 00.00 Unquoted – –
Dec 1160.00 00.00 Unquoted – –
Jan/Feb/Mar 1082.50 +55.00 Unquoted – –
Apr/May/Jun 990.00 -02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Oct 1150.00 +05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Oct 1045.00 +05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Oct 4,670.00 -10.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Oct 332.00 +03.00 Unquoted – –
($1=MYR4.187)

DJ China Dalian Grain Futures Closing Prices, Volume – Sep 24
Soybean No. 1
Turnover: 192,506 lots, or 11.59 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-21 6,020 6,077 5,985 6,069 5,971 6,023 52 133,649 162,857
Jan-22 6,037 6,077 5,997 6,073 5,988 6,034 46 40,931 67,620
Mar-22 5,972 6,055 5,972 6,049 5,972 6,008 36 9,072 23,044
May-22 5,978 6,033 5,954 6,030 5,960 5,990 30 1,220 4,247
Jul-22 5,966 5,992 5,927 5,988 5,931 5,954 23 7,620 5,991
Sep-22 5,901 5,940 5,893 5,940 5,901 5,914 13 14 12
Corn
Turnover: 645,114 lots, or 1.61 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-21 2,479 2,496 2,477 2,482 2,472 2,484 12 73,499 149,648
Jan-22 2,478 2,490 2,476 2,485 2,471 2,485 14 501,064 941,241
Mar-22 2,501 2,511 2,498 2,503 2,491 2,506 15 38,980 174,436
May-22 2,530 2,536 2,524 2,530 2,519 2,531 12 22,226 98,173
Jul-22 2,537 2,546 2,534 2,541 2,526 2,540 14 9,116 36,526
Sep-22 2,539 2,546 2,535 2,542 2,528 2,541 13 229 841
Soymeal
Turnover: 1,078,911 lots, or 37.76 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-21 3,829 3,838 3,770 3,770 3,839 3,814 -25 54,141 111,520
Dec-21 3,728 3,735 3,670 3,671 3,736 3,708 -28 7,677 81,577
Jan-22 3,535 3,546 3,508 3,510 3,547 3,527 -20 848,549 1,265,412
Mar-22 3,323 3,331 3,305 3,310 3,323 3,318 -5 29,788 293,469
May-22 3,240 3,249 3,222 3,229 3,234 3,232 -2 95,001 363,423
Jul-22 3,195 3,220 3,195 3,206 3,209 3,208 -1 13,580 73,848
Aug-22 3,266 3,281 3,254 3,262 3,264 3,267 3 24,919 37,936
Sep-22 3,267 3,277 3,251 3,256 3,261 3,263 2 5,256 5,590
Palm Oil
Turnover: 915,604 lots, or 79.16 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Oct-21 9,408 9,688 9,408 9,650 9,212 9,490 278 712 2,020
Nov-21 9,398 9,436 9,224 9,416 9,186 9,344 158 15,243 49,931
Dec-21 9,120 9,132 8,918 9,118 8,842 9,042 200 28,950 64,870
Jan-22 8,666 8,734 8,524 8,706 8,478 8,648 170 821,466 474,893
Feb-22 8,396 8,452 8,262 8,422 8,198 8,372 174 15,927 55,721
Mar-22 8,220 8,266 8,080 8,240 8,020 8,192 172 11,056 15,991
Apr-22 8,058 8,108 7,926 8,080 7,872 8,032 160 6,668 19,813
May-22 7,980 7,986 7,808 7,964 7,772 7,920 148 14,023 24,146
Jun-22 7,750 7,874 7,750 7,874 7,618 7,792 174 3 543
Jul-22 7,826 7,830 7,826 7,830 7,664 7,828 164 3 472
Aug-22 7,624 7,688 7,596 7,662 7,488 7,624 136 1,429 3,155
Sep-22 7,602 7,660 7,534 7,592 7,482 7,596 114 124 154
Soybean Oil
Turnover: 820,880 lots, or 75.01 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-21 9,716 9,724 9,584 9,708 9,508 9,656 148 27,704 67,222
Dec-21 9,402 9,522 9,364 9,506 9,298 9,436 138 21,166 67,347
Jan-22 9,176 9,234 9,090 9,222 9,022 9,166 144 698,220 507,804
Mar-22 8,792 8,842 8,716 8,830 8,632 8,784 152 18,958 83,345
May-22 8,600 8,618 8,490 8,604 8,452 8,572 120 34,229 90,189
Jul-22 8,406 8,490 8,340 8,472 8,280 8,426 146 12,713 34,201
Aug-22 8,268 8,454 8,240 8,450 8,186 8,320 134 7,721 19,617
Sep-22 8,274 8,414 8,216 8,414 8,190 8,308 118 169 123
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.