Grains Report - Monday, August 24

DJ CBOT Delivery Intentions: Totals – Aug 24
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN OIL August Aug. 25, 2020 51 Jul 30, 2020

WHEAT
General Comments: Winter Wheat markets were higher on ideas that China was buying US Wheat at the PNW. Chicago SRW was the market leader on increased speculative buying. The demand would be welcome as US prices remain high in the world market. Europe remains high priced due to drought in France, but improving yield reports in Russia have hurt prices in the Black Sea. Spring Wheat was developing under good growing conditions in both the US and Canada. Yield reports from the central and southern Great Plains have been variable, but generally a little better than expected. Soft Red Winter yields are high. Russian Winter Wheat yields have improved over time as harvesters move into areas that had better growing conditions, but Spring Wheat yields are expected to be variable due to declining crop conditions in those growing areas. Australia remains in good condition. About half of the Argentine Wheat belt is too dry.
Overnight News: The southern Great Plains should get isolated showers. Temperatures should be above normal. Northern areas should see scattered showers. Temperatures will average near to above normal. The Canadian Prairies should see isolated showers. Temperatures should average near to above normal.
Chart Analysis: Trends in Chicago are up with objectives of 565 September. Support is at 514, 507, and 497 September, with resistance at 540, 544, and 547 September. Trends in Kansas City are up with objectives of 454 and 468 September. Support is at 437, 436, and 430 September, with resistance at 458, 464, and 468 September. Trends in Minneapolis are up with objectives of 522 September. Support is at 509, 500, and 495 September, and resistance is at 520, 528, and 543 September.

COT — Supplemental Report – Option and Futures Combined Positions as of August 18, 2020
: Reportable Positions: Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long : Short :Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
WHEAT-SRW – CHICAGO BOARD OF TRADE
CFTC Code #001602 Open Interest is 522,554
: Positions :
: 65,026 90,792 181,682 62,960 147,927 183,785 53,017 493,454 473,418: 29,100 49,136
: Changes from: August 11, 2020 (Change in open interest: 16,580) :
: 2,447 -5,176 10,304 4,010 10,831 -1,165 1,755 15,595 17,714: 984 -1,134
: Percent of Open Interest Represented by Each Category of Trader :
: 12.4 17.4 34.8 12.0 28.3 35.2 10.1 94.4 90.6: 5.6 9.4
: Total Traders: 382 Number of Traders in Each Category :
: 86 121 132 77 101 45 24 300 303:
——————————————————————————————————————-

COT — Supplemental Report – Option and Futures Combined Positions as of August 18, 2020
: Reportable Positions : Nonreportable
:—————————————————————————————- : Positions
: Non-Commercial : Commercial : Index Traders : Total
: Long: Short: Spreading: Long : Short : Long : Short : Long : Short : Long : Short
——————————————————————————————————————-
WHEAT-HRW – CHICAGO BOARD OF TRADE
CFTC Code #001612 Open Interest is 275,508
: Positions:
: 39,062 68,592 58,222 74,335 102,794 80,899 26,024 252,518 255,632: 22,990 19,877
: Changes from: August 11, 2020 (Change in open interest: -10,869) :
: 1,566 -8,818 -4,640 -5,995 3,848 485 318 -8,584 -9,292: -2,285 -1,578
: Percent of Open Interest Represented by Each Category of Trader :
: 14.2 24.9 21.1 27.0 37.3 29.4 9.4 91.7 92.8: 8.3 7.2
: Total Traders: 253 Number of Traders in Each Category :
: 56 54 58 70 77 36 17 195 181:
——————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of August 18, 2020
: 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 82,081 :
: Positions :
: 48,144 33,825 2,210 2 295 7,470 28,798 2,579 4,448 2,660 2,568 :
: Changes from: August 11, 2020 :
: 1,972 5,027 2 2 92 985 -2,200 -996 -252 -104 -765 :
: Percent of Open Interest Represented by Each Category of Trader :
: 58.7 41.2 2.7 0.0 0.4 9.1 35.1 3.1 5.4 3.2 3.1 :
: Number of Traders in Each Category Total Traders: 103 :
: 47 38 . . . 8 19 7 7 8 9 :
—————————————————————————————————————-

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of August 18, 2020
: Reportable Positions :
:————————————————————————————————————- :
: Producer/Merchant : : : :
: Processor/User : Swap Dealers : Managed Money : Other Reportables :
: Long : Short : Long : Short :Spreading: Long : Short :Spreading: Long : Short :Spreading :
—————————————————————————————————————-
BLACK SEA WHEAT FINANCIAL – CHICAGO BOARD OF TRADE 50 Metric Tons :
CFTC Code #00160F Open Interest is 29,627 :
: Positions :
: 15,285 26,354 0 1,174 172 13,160 0 4 0 333 533 :
: Changes from: August 11, 2020 :
: 1,886 1,026 -112 -36 -142 -558 0 -1 -42 333 104 :
: Percent of Open Interest Represented by Each Category of Trader :
: 51.6 89.0 0.0 4.0 0.6 44.4 0.0 0.0 0.0 1.1 1.8 :
: Number of Traders in Each Category Total Traders: 31 :
: 11 19 0 . . 5 0 . 0 . . :
—————————————————————————————————————-

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