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DJ USDA Report: Summary For June Acreage, Quarterly Grain Stocks The reports are bearish to Corn and it is called liomit down.  The other markets are called lowr in sympathy with Corn.  KANSAS CITY (Dow Jones)--The following table is provided as a service to DowJones Newswires subscribers in conjunction with the U.S. Department ofAgriculture's acreage and quarterly grain stocks reports.  The reports were released Thursday morning. Estimates are in millions ofacres for the 2011 U.S. acreage report and in billions of bushels for U.S.grain and soybean stocks as of June 1.                               U.S. Acreage                USDA     USDA                                  USDA             Planting  Harvest                               March 31    2010             Thursday  Thursday     Average      Range      Plantings SeedingsCorn          92.3      84.9        90.776   89.500-91.500   92.178     88.192Soybeans      75.2      74.3        76.476   75.500-77.190   76.609     77.404Spring Wheat  13.6      32.3        13.324   12.500-14.000   14.427     13.698Durum        1.698     1.647         1.982    1.310-2.300     2.365      2.570All Wheat     56.4      47.2        56.607   55.000-57.600   58.021     53.603Cotton       13.73        NA         12.69    12.00-13.25     12.57      10.97Rice         2.676     2.649                                  3.018      3.636Oats         2.587     0.934                                  2.839      3.138Sorghum      5.345     4.588                                  5.645      5.404Barley       2.815     2.480                                  2.952      2.872
                             U.S. Grain Stocks                                                2011 Mar 1  2010 June 1               USDA                                USDA        USDA             Thursday    Average      Range       Stocks      StocksCorn          3.670       3.324    2.998-3.515     6.523      4.310Soybeans      0.619       0.597    0.549-0.632     1.249      0.571Wheat         0.861       0.825    0.791-0.878     1.425      0.976Durum         0.035                                0.056      0.034Rice         71.373                               57.408    120.615Sorghum       0.080                                0.171      0.087Oats          0.067                                0.080      0.086Barley        0.089                                0.115      0.138DJ US Export Sales: Weekly Sales Totals-Jun 30  For the week ended Jun 23, in thousand metric tons, except cotton inthousand running bales. Net changes in commitments are gross sales,less cancellations, buy-backs and other downward adjustments. Totalcommitments are total export shipments plus total sales.   The marketing year for wheat and barley began Jun 1, cotton andand rice Aug 1, corn, soybeans and sorghum Sep 1, and soymeal andsoyoil Oct 1.                wk's net chg             total               in commitments        commitments      undlvd sales              this yr  next yr   this yr   last yr  this yr  next yrwheat           545.1      0.0    8300.3    6271.7   6363.0      0.0corn            691.7    242.6   45200.7   48706.5   8686.1   4833.1soybeans       -335.6    458.1   41489.2   39286.2   3516.7   7490.1soymeal         108.3      0.0    7281.7    8947.4   1185.1    277.0soyoil           23.6      0.0    1257.2    1347.2    142.5      4.5upland cotton  -135.3     35.2   14331.9   12526.3   1653.1   5324.7pima cotton       3.4      0.5     527.3     679.7     59.3    322.3sorghum          27.2      0.0    3340.0    3366.6    601.5     59.3barley            0.0      0.0       1.9      16.9      0.1      0.0rice             66.6      0.0    3804.6    3681.5    492.0      9.1General Comments:  Futures closed mostly higher yesterday, but made the highs of the day early in the session as some speculative profit taking and new selling was noted as the day moved on.  Buying seemed to be mostly short covering before the USDA reports today.  The flooding that could cause lost production in the northern Great Plains and Canadian Prairies supported buying.  Ideas are that the Russians are going to take a majority of the business for now as they offer at lower prices and that conditions are better in Europe were the primary negatives, but were considered already part of the price.  The world economic issues add to demand questions, but traders were less worried about Europe than previously as the Greeks began to pass laws to put their economy in order.  The drought in Texas and Oklahoma and other weather worries continue to provide support.  Midwest and Mid South Wheat crops have been going downhill due to too much rain, and planting of Spring Wheat crops has been a big problem in the Northern Plains and Canadian Prairies.  More rain was seen in the Dakotas and Minnesota over the weekend.  Weather forecasts for dry and warm weather in Texas and Oklahoma continue.  Charts show that the trends are turning mixed.

Overnight News:  Mostly dry conditions are expected in the southern Great Plains, but northern areas could see precipitation through this weekend.  Temperatures should average near to above normal.  The Canadian Prairies should get periods of light precipitation through the weekend.   Temperatures will average near to above normal.  Gulf basis levels are steady for Soft Red Winter Wheat and steady for Hard Red Winter Wheat. 

Chart Analysis: Trends in Chicago are mixed.  Support is at 662, 642, and 630 September, with resistance at 691, 698, and 714 September.  Trends in Kansas City are mixed to down with no objectives.  Support is at 745, 741, and 726 September, with resistance at 780, 810, and 814 September.  Trends in Minneapolis are mixed.  Support is at 834, 821, and 800 September, and resistance is at 860, 877, and 894 September.

General Comments: Prices were higher much of yesterday along with strength in the other grains markets, but fell late on some speculative selling.  Traders were looking forward to the USDA reports this morning and did not expect bullish quarterly stocks data even though planted area estimates could provide reason to buy.  Traders noted firmer cash market prices and an uptick in demand in the country here in the US.  World prices have been a little firmer in Asia, mostly for political reasons.  Many in Thailand are holding back to see what happens in the elections next month, and Vietnam is now ready to hold back stocks from the market to help prices there.  US crop conditions remain uneven.  Chart trends are mostly down for the short term. 

Trends are down with no objectives.  Support is at 1341, 1336, and 1290 July, and resistance is at 1369, 1383, and 1385 July.

Overnight News: Mostly dry in the Mid South, dry along the Gulf Coast.  Temperatures will average above normal. 

Chart Analysis:  Trends are mixed to down with no objectives.  Support is at 1423, 1399, and 1370 September, and resistance is at 1460, 1472, and 1500 September.

General Comments:   Corn and Oats were mixed yesterday as traders got ready for the USDA reports and the first July deliveries today.  July corn was the strongest on ideas of very tight cash markets.  Highs were made early in the session, then more speculative long liquidation appeared as traders got ready for the reports.  Another cold night was seen in Brazil and Corn got hurt again.  Sources tell us that the full extent of the damage and loss will not be known for another week.  Forecasts for warmer and drier weather to develop this weekend and into the holiday weekend were negative, but temperatures are expected to turn very cold again early next week.  Reports of strong domestic demand and export demand were noted after the recent big price break, and basis levels have been firm, but have turned more stable in the country now.  Basis levels are mostly steady.  Supplies could be very tight by September.  Trends are turning mixed.

Overnight News:  Basis was steady at the Gulf of Mexico and steady in the Midwest.

Chart Analysis:  Trends in Corn are mixed.  Support is at 672, 663, and 638 September, and resistance is at 692, 697, and 710 September.  Trends in Oats are mixed.  Support is at 347, 338, and 331 September, and resistance is at 358, 364, and 369 September.

General Comments:  Soybeans and Soybean Meal closed mixed yesterday, but Soybean Oil was higher again as Crude Oil rallied.  Traders were mostly getting ready for all the reports that were released this morning.  Forecasts for better weather in the Midwest this week and next were negative.  Forecasts call for warmer and drier weather this weekend in the Midwest, and this weather will help improve crop conditions that showed deterioration.  Demand remains seasonally weak, but should start to firm up soon as South America finishes its selling.  Cash markets in the interior US remain strong.  Gulf basis levels were steady.  Upside price potential would still appear to be more limited than that for Corn or Wheat or Rice.  Ideas of strong production in South America and the potential for production and planted area here in the US to increase are negative.  South America has plenty of production and has been offering, but activity there seems slow.  Charts show that trends are mixed. 

Overnight News:  Basis levels are steady at the gulf.  Gulf Soybean Meal basis is steady.  Midwest basis levels were steady.

Chart Analysis:  Trends in Soybeans are mixed.  Support is at 1321, 1304, and 1294 August, and resistance is at 1344, 1355, and 1370 August.  Trends in Soybean Meal are mixed.  Support is at 340.00, 333.00, and 328.00 August, and resistance is at 348.00, 353.00, and 355.00 August.  Trends in Soybean Oil are mixed.  Support is at 5545, 5460, and 5445 August, with resistance at 5640, 5680, and 5690 August.

General Comments:  Canola was higher again on price strength in Chicago and Europe.  Ideas of less demand hurt the rally as domestic crushers are not buying due to weak crush margins.  Elevators were scale up sellers.  Planting progress remains very slow in Canada.  European conditions are better, and Canadian farmers are now said to be done with planting.  Palm Oil was lower today before the USDA reports.  Ideas of big production went against ideas of increasing demand, and the demand won today.  Positive export data from private sources provided support.  There were wire reports that Pakistan could buy 180,000 tons of Palm Oil for July.  Trends remain down. 

Overnight News:  

Chart Analysis:  Trends in Canola are mixed.  Support is at 566.00, 558.00, and 556.00 November, with resistance at 574.00, 580.00, and 589.00 November.  Trends in Palm Oil are mixed to down with objectives of 3100 September.  Support is at 3095, 3040, and 3000 September, with resistance at 3150, 3185, and 3200 September.

Midwest Weather:   Dry through the weekend.  Temperatures will average near normal today and above normal late in the week.

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MANHÃ refrigerantes comentários Jack Scoville

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General Comments:  Futures closed mostly a little lower yesterday before the USDA reports, but July closed higher.  Traders are getting ready for the reports from USDA that were released this morning and volumes were very slow.  Bad weather in the US remains important, with little rain in the forecast for major growing areas this week.  In addition, it has been very hot, with highs of more than 100F or 40C common in the Cotton areas of Texas.  The USDA reports showed that the crop continued to deteriorate in the last week, and there is little hope for much improvement this week.  Western Texas, where almost half of all US Cotton is grown, should stay dry.  Demand remains poor and trends are generally down.  India said it is starting to offer Cotton at differentials below the futures of New York for the first time in a couple of years.  China cut import duties in a bid to increase supplies in the country over the weekend, and increasing supplies in other countries should keep demand questions in the forefront if prices start to move higher again.

Overnight News:  The Delta and Southeast will be mostly dry.  Temperatures will average above normal.  Texas will be mostly dry.  Temperatures will average above to much above normal.  The USDA average spot price is now 134.96 ct/lb.  ICE said that certified Cotton stocks are now 0.092 million bales, from 0.087 million yesterday.  ICE said that deliveries today were 27 contracts and now total 569 contracts for the month.  USDA said that net Upland Cotton export sales were -135,300 bales this year and 35,200 bales next year.  Net Pima sales were 3,400 bales this year and 500 bales next year.

Chart Trends:  Trends in Cotton are mixed.  Support is at 124.00, 123.00, and 120.00 October, with resistance of 131.00, 132.00, and 135.00 October.

6-30-2011 07:28 U.S. cotton acreage highlights-USDA   WASHINGTON, June 30 (Reuters) - The following are cotton highlights of theU.S. Agriculture Department's Annual Acreage report estimating plantings andharvest acres.   The data is based on field surveys taken during early June.                 U.S. COTTON CROP                (in million acres)           -------- PLANTED ACRES ---------                USDA      USDA             June 30 *Previous     Trade    Actual            Estimate  Estimate  Estimate      2010 All Cotton   13.725    12.566    13.260    10.974 06/28 10:50 CDT POLL-US 2011 cotton plantings up from USDA March estimate    NEW YORK, June 28 (Reuters) - Following are the results ofa survey on potential U.S. 2011 cotton plantings, compiled byThomson Reuters on Tuesday.    The USDA will release its report on potential plantings onThursday at 8:30 a.m. EDT (1230 GMT).----------------------------------------------------    In million acresAverage trade estimate                13.26Highest trade estimate                14.21Lowest trade estimate                 12.55USDA Ag Outlook forecast for cotton   12.60U.S. 2010 cotton plantings            11.04Carl Anderson, Texas A&M University   12.70Sharon Johnson, Penson Futures        12.70John Flanagan, Flanagan Trading       13.90Mike Stevens, SFS Futures             13.25Jobe Moss, MCM Group                  13.50Keith Brown, Keith Brown & Co.        14.21Jim Nunn, Nunn Cotton Co.             12.55General Comments:  Futures closed lower again yesterday on some selling once again related to good weather in Florida.  A system formed in the Gulf of Mexico, but appears weak and destined for southern Mexico.  It will help Coffee crops there.  Charts show that futures are trying to decide on the next move and could be forming a top.  There is not a lot of news to support any big rallies in OJ right now.  No tropical storms are in the forecast.  Florida remains mostly warm and is getting beneficial showers.  Drought still affects a large portion of the citrus producing area, but crops are called in mostly good condition at this time due to irrigation.

Overnight News:  Florida weather forecasts call for scattered showers.  Temperatures will average near to above normal. 

Chart Trends:  Trends in FCOJ are mixed.  Support is at 185.00, 183.00, and 180.00 September, with resistance at 190.00, 194.00, and 197.00 September.

General Comments:  Futures were higher in New York and Sao Paulo after a surprise frost hit production areas in Parana.  It looks like a freeze damaged the Corn crop in many parts of the state, but Coffee was not hurt nearly as much.  Loss reports, if any, should surface in a couple of days.  Some flowers could also be lost, although trees should be able to form more flowers once the cold air passes through.  Another cold shot is possible early next week.  London was lower on a lack of buying interest after the big rally the day before.  Roasters are said to be well covered for now.  Fundamentals continue to suggest strong prices overall for the longer term.  The potential for a freeze in Brazil is offering reasons for speculators to buy.

Overnight News:  Certified stocks are lower today and are about 1.622 million bags.  The ICO composite price is now 216.87 ct/lb.  Brazil should see dry weather.  Temperatures will average near to above normal this weekend and below normal next week.  ICE said that 254 contracts were delivered today and that total deliveries for the month are now 2,426 contracts.  Vietnam expects to produce 18.0 million bags of Coffee in 2011-12, from 17.5 million in 2010-11.

Chart Trends:  Trends in New York are mixed to up with objectives of 264.00 and 275.00 September.  Support is at 252.00, 247.00, and 244.00 September, and resistance is at 263.00, 265.00, and 268.00 September.  Trends in London are up with no objectives.  Support is at 2440, 2410, and 2370 September, and resistance is at 2520, 2545, and 2560 September.  Trends in Sao Paulo are up with objectives of 354.00, 362.00, and 371.00 September.  Support is at 327.00, 326.00, and 320.00 September, and resistance is at 337.00, 340.00, and 346.00 September.

General Comments:  Futures closed mixed in New York and mostly lower in London yesterday in consolidation trading.  The rally early in the week came after UNICA said that the Center-South Sugar crush is 134.6 million tons so far this year, down 23% from last year.  The estimate was below trade expectations, and combined with shipping delays created the idea of tight spot supplies in world markets.  Bears keep pointing to increased supplies around the world and no demand this year from India as reasons to see futures move lower over time.  In fact, India increased exports last week, and prices in Thailand have been moving lower.  However, there are shipment delays there as well as in Brazil.  The market acts as if prices could move higher on the short term tightness and despite ideas of lower Brazil production despite signs of increased production globally, but then could move lower once the production gets into the market. 

Overnight News:  Mostly dry conditions are expected in Brazil.  Temperatures should be near to above normal this weekend, then cold again next week.  Mexico has produced 5.2 million tons of Sugar so far this year, up 7% from last year.

Chart Trends:  Trends in New York are up with objectives of 2800 and 3000 October.  Support is at 2630, 2600, and 2560 October, and resistance is at 2730, 2755, and 2800 October.  Trends in London are up with objectives of 705.00 and 744.00 October.  Support is at 678.00, 666.00, and 662.00 October, and resistance is at 699.00, 712.00, and 720.00 October.

 General Comments:  Futures were sharply higher in New York and in London yesterday as trends turned up on the charts.  Speculators were the best buyers, and origin was the best seller, but origin did not sell too much.  Ideas are that the market might have made a temporary low in recent days, but for now there is still no real reason to buy except for a temporary shortage as farmers in many countries wait for prices to rally.  Fundamentals have not really changed.  Ivory Coast and western African selling pressure remains a feature of the market, although there is less selling pressure from there in the last week.  Overall ideas are that production there and in the rest of West Africa are improved this year due to the good rains and generally favorable weather patterns.  The mid crop is supposed to be big this year in all countries in West Africa and will probably get exported quickly now.  Trends are up after the price action yesterday. 

Overnight News:  Scattered showers and storms are expected in West Africa.  Temperatures will average above normal.  ICE stocks are higher today and are now about 3.744 million bags.  ICE said that deliveries today are 0 contracts and now total 62 contracts for the month.  Brazil Cocoa arrivals are 79,868 bags this week.

Chart Trends:  Trends in New York are up with objectives of 3270 and 3470 September.  Support is at 3070, 3045, and 3030 September, with resistance at 3080, 3170, and 3190 September.  Trends in London are up with no objectives.  Support is at 1920, 1860, and 1830 September, with resistance at 2000, 2010, and 2020 September.

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General Comments:  Futures closed mixed yesterday.  Traders are getting ready for the reports from USDA tomorrow and volumes were very slow.  Bad weather in the US remains important, with little rain in the forecast for major growing areas this week.  In addition, it has been very hot, with highs of more than 100F or 40C common in the Cotton areas of Texas.  The USDA reports showed that the crop continued to deteriorate in the last week, and there is little hope for much improvement this week.  Western Texas, where almost half of all US Cotton is grown, should stay dry.  Demand remains poor and trends are generally down.  India said it is starting to offer Cotton at differentials below the futures of New York for the first time in a couple of years.  China cut import duties in a bid to increase supplies in the country over the weekend, and increasing supplies in other countries should keep demand questions in the forefront if prices start to move higher again.

Overnight News:  The Delta and Southeast will see light precipitation through the weekend.  Temperatures will average near to above normal.  Texas will be mostly dry.  Temperatures will average above to much above normal.  The USDA average spot price is now 135.67 ct/lb.  ICE said that certified Cotton stocks are now 0.087 million bales, from 0.084 million yesterday.  USDA said that its Upland Cotton world market price is 135.72 ct/lb.  ICE said that deliveries today were 47 contracts and now total 542 contracts for the month.

Chart Trends:  Trends in Cotton are mixed.  Support is at 124.00, 123.00, and 120.00 October, with resistance of 130.00, 131.00, and 132.00 October.

06/28 10:50 CDT POLL-US 2011 cotton plantings up from USDA March estimate    NEW YORK, June 28 (Reuters) - Following are the results ofa survey on potential U.S. 2011 cotton plantings, compiled byThomson Reuters on Tuesday.    The USDA will release its report on potential plantings onThursday at 8:30 a.m. EDT (1230 GMT).----------------------------------------------------    In million acresAverage trade estimate                13.26Highest trade estimate                14.21Lowest trade estimate                 12.55USDA Ag Outlook forecast for cotton   12.60U.S. 2010 cotton plantings            11.04Carl Anderson, Texas A&M University   12.70Sharon Johnson, Penson Futures        12.70John Flanagan, Flanagan Trading       13.90Mike Stevens, SFS Futures             13.25Jobe Moss, MCM Group                  13.50Keith Brown, Keith Brown & Co.        14.21Jim Nunn, Nunn Cotton Co.             12.55General Comments:  Futures closed lower again yesterday on some profit taking related to good weather in Florida.  News that a tropical system could be forming in the Atlantic had little effect on prices as the system would stay south of the US, and there is no other organized system of interest out there for now.  A system could form, but appears weak and destined for southern Mexico.  Charts show that futures have started a new leg higher.  There is not a lot of news to support any big rallies in OJ right now.  No tropical storms are in the forecast.  Florida remains mostly warm and dry, with no forecasts for significant rains in sight.  Drought still affects a large portion of the citrus producing area, but crops are called in mostly good condition at this time due to irrigation.

Overnight News:  Florida weather forecasts call for scattered showers.  Temperatures will average near to above normal. 

Chart Trends:  Trends in FCOJ are mixed to up with objectives of 205.00 July.  Support is at 192.00, 188.00, and 187.00 July, with resistance at 200.00, 203.00, and 206.00 July.

DJ Florida FCOJ Movement And Pack - Jun 28   In gallons. Source: Florida Department of Citrus (FDOC).                                2010-2011                         Jun 18        Jun 11      Year Ago  MOVEMENTRetail                  122,613       145,925       227,073Institutional           290,592       411,353       365,833Bulk                  1,699,674     2,545,512     1,606,038Total                 2,112,878     3,102,789     2,198,945Cumulative          115,430,447   113,317,568    92,752,171  IMPORTSForeign                 125,503       192,657       463,449Cumulative           13,032,662    12,907,160    19,247,415  RECEIPTSDomestic                 62,192        38,685        29,788  PACKRetail                  150,684       150,018       147,801Institutional           348,563       313,800       349,804Bulk                  2,761,441     2,878,826     1,958,722Less Reprocessed      1,455,199     1,502,424     1,803,188Net                   1,805,489     1,840,221       653,139Cumulative           79,036,396    77,230,908    82,252,237Inventory            75,249,578    75,388,209   128,585,201General Comments:  Futures were higher in all three markets after a surprise frost hit production areas in Parana.  It looks like a freeze damaged the Corn crop in many parts of the state, but Coffee was not hurt nearly as much.  Loss reports, if any, should surface in a couple of days.  Some flowers could also be lost, although trees should be able to form more flowers once the cold air passes through.  Another night of cold air was forecast for last night, but damage was said to be minor.  Another cold shot is possible early next week  Ideas are that Coffee prices have gone low enough for now.  Roasters are said to be well covered for now.  However, sources in London say there is good demand for Coffee there although who is the buyer is unknown.  Fundamentals continue to suggest strong prices overall for the longer term.  The potential for a freeze in Brazil is offering reasons for speculators to buy.

Overnight News:  Certified stocks are higher today and are about 1.623 million bags.  The ICO composite price is now 216.63 ct/lb.  Brazil should see dry weather.  Temperatures will average below normal today and tomorrow, then near to above normal.  ICE said that 10 contracts were delivered today and that total deliveries for the month are now 2,172 contracts. 

Chart Trends:  Trends in New York are mixed to up with objectives of 264.00 and 275.00 September.  Support is at 252.00, 247.00, and 244.00 September, and resistance is at 259.00, 261.00, and 265.00 September.  Trends in London are up with no objectives.  Support is at 2440, 2410, and 2370 September, and resistance is at 2520, 2545, and 2560 September.  Trends in Sao Paulo are up with objectives of 354.00, 362.00, and 371.00 September.  Support is at 327.00, 326.00, and 320.00 September, and resistance is at 337.00, 340.00, and 346.00 September.

General Comments:  Futures closed sharply higher in New York and lower in London yesterday on the news of lower production once again in Brazil.  UNICA said that the Center-South Sugar crush is 134.6 million tons so far this year, down 23% from last year.  The estimate was below trade expectations, and combined with shipping delays created the idea of tight spot supplies in world markets.  Bears keep pointing to increased supplies around the world and no demand this year from India as reasons to see futures move lower over time.  In fact, India increased exports last week.  The harvest conditions seem good at this time in Brazil and also in Thailand, and production ideas in both countries are big even if they are dropping in Brazil.  Both countries are said to be behind in shipping Sugar to overseas buyers.  Prices in Thailand are said to be sharply lower this week after India moved to increase exports last week.  The market acts as if prices could move higher on the short term tightness and despite ideas of lower Brazil production despite signs of increased production globally, but then could move lower once the production gets into the market. 

Overnight News:  Mostly dry conditions are expected in Brazil.  Temperatures should be below normal today and tomorrow, then near to above normal.

Chart Trends:  Trends in New York are up with objectives of 2800 and 3000 October.  Support is at 2630, 2600, and 2560 October, and resistance is at 2755, 2800, and 2830 October.  Trends in London are mixed to up with objectives of 705.00 and 744.00 October.  Support is at 666.00, 662.00, and 656.00 October, and resistance is at 712.00, 720.00, and 732.00 October.

General Comments:  Futures were slightly higher in New York and in London yesterday in consolidation trading.  Speculators were the best buyers, and origin was the best seller.  Ideas are that the market might have made a temporary low in recent days, but for now there is still no real reason to buy.  Fundamentals have not really changed.  Ivory Coast and western African selling pressure remains a feature of the market.  Overall ideas are that production there and in the rest of West Africa are improved this year due to the good rains and generally favorable weather patterns.  The mid crop is supposed to be big this year in all countries in West Africa and will probably get exported quickly now.  Trends are mixed. 

Overnight News:  Scattered showers and storms are expected in West Africa.  Temperatures will average above normal.  ICE stocks are higher today and are now about 3.731 million bags.  ICE said that deliveries today are 0 contracts and now total 62 contracts for the month.  Ivory Coast arrivals are now 1.243 million tons, up 18.1% from last year.

Chart Trends:  Trends in New York are mixed.  Support is at 3010, 2985, and 2950 September, with resistance at 3045, 3060, and 3075 September.  Trends in London are mixed.  Support is at 1860, 1830, and 1805 September, with resistance at 1940, 1950, and 2000 September.

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06/23 08:32 CDT IEA: Countries to release 60M barrels of oil    IEA: Countries to release 60M barrels of oil     PARIS (AP) -- The International Energy Agency says 28 countries have agreed to release 60 million barrels of crude to the market to offset disruptions prompted by Libya's war. The Paris-based agency said in a statement Thursday that it made the move because the normal increase in demand over the summer "will exacerbate the shortfall further." It also warned that the tight oil market "threatens to undermine the fragile global economic recovery." The countries will make 2 million barrels a day available from their emergency stocks over a period of 30 days.[Related Stories] General Comments:  Futures closed mostly lower yesterday in consolidation trading, but July closed sharply higher as shorts exit from potential delivery positions as deliveries will start tomorrow.  Bad weather in the US remains important, with wire services now running stories about the drought in Texas.  In addition, it has been very hot, with highs of more than 100F or 40C common in the Cotton areas of the state.  Some rain was seen in the state, but not really in major Cotton areas.  Rain has been forecast in Georgia for the rest of this week.  Ideas are that few deliveries can be made as the supplies are not available.  Wire reports that Texas dryland farmers are on the verge of declaring crops as disasters added some support.  Western Texas, where almost half of all US Cotton is grown, should stay dry.  Demand remains poor.

Overnight News:  The Delta and Southeast will see light precipitation through the weekend.  Temperatures will average near to above normal.  Texas will be mostly dry, but a few showers are possible over the second half of the week.  Temperatures will average above to much above normal.  The USDA average spot price is now 134.94 ct/lb.  ICE said that certified Cotton stocks are now 0.068 million bales, from 0.067 million yesterday.  USDA said that net Upland Cotton export sales were -1,100 bales this year and -33,100 bales next year.  Net Pima sales were 100 bales this year and 1,000 bales next year.

Chart Trends:  Trends in Cotton are mixed to up with objectives of 173.00 July.  Support is at 157.00, 155.00, and 150.00 July, with resistance of 161.00, 164.00, and 166.00 July.

06/23 07:05a CST  DJ US Cotton Consumption: Stocks And Trade - Jun 23    In running bales. Source: U.S. Census Bureau. Year agofigures reflect revised data reported in the 2010 Summary.                                           May 11         Apr 11         May 10                                         4 weeks        4 weeks        4 weeks                                     05/01-05/28    04/03-04/30    05/02-05/29consumption                              269,248        266,460        274,517  thousand pounds                        133,804        132,273        136,530daily average  seasonally adjusted                     13,107         13,244         13,169  non-adjusted                            13,463         13,323         13,574  cotton staple consumptiontotal stocks                           3,571,674      4,794,488      5,121,735  at mills                               129,724        138,362        146,527    thousand pounds                       64,359         68,496         72,607  public storage                       3,441,950      4,656,126      4,975,208-spindle activity (all industries)--  in place (thousands)                       985            982          1,014  active (thousands)                         926            918            955  spindle hours (mln)                        580            579            569General Comments:  Futures closed higher again yesterday on what appeared to be speculative buying.  Charts show that futures probably began a new leg higher this week, and July prices are already near initial objectives.  There is not a lot of news to support any big rallies in OJ right now.  No tropical storms are in the forecast.  Florida remains mostly warm and dry, with no forecasts for significant rains in sight.  Drought still affects a large portion of the citrus producing area, but crops are called in mostly good condition at this time due to irrigation.  Fruit is developing and small fruit is visible on the trees.  The fruit is called in good condition due to irrigation.  Seasonal forecasts call for a more active than normal Atlantic hurricane season.  Charts show that the market is trying to decide on the next move.

Overnight News:  Florida weather forecasts call for mostly dry conditions, but afternoon showers are possible this weekend.  Temperatures will average near to above normal. 

Chart Trends:  Trends in FCOJ are up with objectives of 196.00 and 205.00 July.  Support is at 188.00, 187.00, and 186.00 July, with resistance at 197.00, 200.00, and 203.00 July.

General Comments:  Futures were a little lower in consolidation trading, with increasing offers from Asia and Brazil still hurting any rally potential.  Washed Coffee exports were big in May, adding to ideas of ample supplies for now.  Roasters are said to be well covered for now.  Fundamentals continue to suggest strong prices overall for the longer term.  Lower Mitaca crop production in Colombia and the potential for a freeze in Brazil is offering reasons for speculators to buy.  Traders generally expect tight supplies to continue through the next crop year due to lower production in Brazil and for high prices to continue as well.  Production for the coming year does not look as bad as originally thought, and this has hurt deferred prices. Chart show that trends are down as futures absorb the increased offers from Asia and Brazil.

Overnight News:  Certified stocks are lower today and are about 1.625 million bags.  The ICO composite price is now 204.92 ct/lb.  Brazil should see dry weather.  Temperatures will average near to below normal.  ICE said that 481 contracts were delivered today and that total deliveries for the month are now 1,586 contracts.  Latin American Washed Coffee exports were 2.84 million bags, up 23% from last year.  Year to date exports are now 18.89 million bags, up 18% from last year.  An official with the Indonesian Coffee Exporters Association said that production there might only be 490,000 tons, down 30% from last year.

Chart Trends:  Trends in New York are down with objectives of 243.00 September.  Support is at 244.00, 233.00, and 230.00 September, and resistance is at 252.00, 257.00, and 259.00 September.  Trends in London are down with objectives of 2250 September.  Support is at 2245, 2230, and 2210 September, and resistance is at 2300, 2370, and 2410 September.  Trends in Sao Paulo are down with objectives of 270.00 September.  Support is at 317.00, 309.00, and 307.00 September, and resistance is at 321.00, 326.00, and 327.00 September.

General Comments:  Futures closed a little lower in New York and in London yesterday in what appeared to be some speculative and produce r selling.  New York was unable to make new highs for the move and could see some liquidation trading today and tomorrow.  Reports that Sugar is flowing from Brazil despite delays hurt the bulls.  Yields in Brazil remain down from last year, so total Sugar production might not be all that strong.  However, producers were noted sellers yesterday.  Some buying was noted on ideas that the weather in Brazil is not getting better.  Demand has been good as many Middle Eastern countries get ready for Ramadan.  Bears keep pointing to increased supplies around the world and no demand this year from India as reasons to see futures move lower over time.  The harvest conditions seem good at this time in Brazil and also in Thailand, and production ideas in both countries are big even if they are dropping a bit in Brazil.  Both countries are said to be behind in shipping Sugar to overseas buyers.  Trends remain up, but it is possible that this part of the up move is running out of steam. 

Overnight News:  Mostly dry conditions are expected in Brazil.  Temperatures should be near to above normal.  USDA increased the Sugar import quota for the second time this year last night.  The move is not unexpected and did not support futures much yesterday, but might today.  India has allowed the export of an additional 500,000 tons of Sugar as of today.

Chart Trends:  Trends in New York are mixed to up with objectives of 2710 October.  Support is at 2560, 2490, and 2460 October, and resistance is at 2630, 2670, and 2755 October.  Trends in London are up with objectives of 687.00 and 708.00 October.  Support is at 666.00, 656.00, and 643.00 October, and resistance is at 680.00, 697.00, and 712.00 October.

General Comments:  Futures were higher in New York and in London again yesterday on concerns about crop quality in Western Africa.  In addition, recent wire service reports have noted that many Ivory Coast farmers refuse to return home, so supplies from there might be smaller than originally thought at the beginning of the market year due to labor problems.  Ideas are that the market might have made a temporary low, but for now there is no real reason to buy.  Fundamentals have not really changed.  Ivory Coast and western African selling pressure remains a feature of the market.  Overall ideas are that production there and in the rest of West Africa are improved this year due to the good rains and generally favorable weather patterns.  The mid crop is supposed to be big this year in all countries in West Africa and will probably get exported quickly now.  Trends are mixed. 

Overnight News:  Scattered showers and storms are expected in West Africa.  Temperatures will average above normal.  ICE stocks are higher today and are now about 3.452 million bags.  ICE said that deliveries today are 0 contracts and now total 62 contracts for the month. 

Chart Trends:  Trends in New York are mixed.  Support is at 2970, 2920, and 2880 September, with resistance at 3060, 3080, and 3170 September.  Trends in London are mixed.  Support is at 1870, 1860, and 1830 September, with resistance at 1905, 1940, and 1950 September.

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COMENTÁRIOS DE MANHÃ DE GRÃOS

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06/23 08:32 CDT IEA: Countries to release 60M barrels of oil

IEA: Countries to release 60M barrels of oil

PARIS (AP) -- The International Energy Agency says 28 countries have agreed to

release 60 million barrels of crude to the market to offset disruptions

prompted by Libya's war.

The Paris-based agency said in a statement Thursday that it made the move

because the normal increase in demand over the summer "will exacerbate the

shortfall further."

It also warned that the tight oil market "threatens to undermine the fragile

global economic recovery."

The countries will make 2 million barrels a day available from their emergency

stocks over a period of 30 days.

[Related Stories]

06/23 07:33a CST  DJ US Export Sales: Weekly Sales Totals-Jun 23

    For the week ended Jun 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. 

               wk's net chg             total               in commitments        commitments      undlvd sales              this yr  next yr   this yr   last yr  this yr  next yrwheat           661.3      0.0    7755.2    5853.4   6300.5      0.0corn            410.8    120.3   44509.0   48056.9   8649.6   4590.5soybeans        -32.1    236.1   41824.8   39022.3   4007.0   7032.1soymeal           9.5     27.5    7173.4    8875.8   1207.5    277.0soyoil            6.0      0.0    1233.6    1336.4    139.2      4.5upland cotton    -1.1    -33.1   14446.0   12409.7   1944.9   5289.5pima cotton       0.1      1.0     523.8     677.2     60.5    321.8sorghum          79.3      0.0    3312.7    3335.4    630.7     59.3barley            0.0      0.0       1.9      16.9      1.0      0.0rice             76.5      0.0    3738.0    3649.0    470.2      9.1General Comments:  Futures closed lower yesterday in trading related to ideas of better conditions in Europe and fears of competition from cheap exports from Ukraine and Russia.  Russia and its neighbors are starting to offer Wheat and are usually the cheapest sellers in the world, but this might now be part of the market.  The drought in Texas and Oklahoma and other weather worries continue to provide support.  Midwest and Mid South Wheat crops have been going downhill due to too much rain, and planting of Spring Wheat crops has been a big problem in the Northern Plains and Canadian Prairies.  More rain was seen in the Dakotas and Minnesota yesterday.  Weather forecasts for dry and warm weather in Texas and Oklahoma continue.  More rain is forecast for Europe in the next few days.  Charts show that the trends are down.

Overnight News:  Mostly dry conditions are expected in the southern Great Plains, but northern areas could see precipitation through this weekend.  Temperatures should average near to above normal.  The Canadian Prairies should get periods of light precipitation through the weekend.   Temperatures will average near to above normal.  Gulf basis levels are steady to firm for Soft Red Winter Wheat and steady to firm for Hard Red Winter Wheat.  Egypt bought 240,000 tons of Worl Wheat, including 120,000 tons of US SRW.  Japan bought 103,252 tons of world Wheat overnight.

Chart Analysis: Trends in Chicago are down with objectives of 654 July.  Support is at 617, 608, and 584 July, with resistance at 656, 660, and 664 July.  Trends in Kansas City are down with no objectives.  Support is at 754, 752, and 716 July, with resistance at 775, 790, and 810 July.  Trends in Minneapolis are down with objectives of 685 July.  Support is at 837, 807, and 790 July, and resistance is at 879, 884, and 888 July.

General Comments: Prices were a little lower in slow trading for most of the day, then saw more liquidation trading to push futures to the lows near the close.  Some forecasts for some rains in Mid South growing areas hurt the price potential, and Texas areas near Houston got beneficial rains.  World prices have been a little firmer in Asia.  Many in Thailand are holding back to see what happens in the elections next month, and Vietnam is now ready to hold back stocks from the market to help prices there.  Weather and poor growing conditions in the US remain important, but overall crop ratings improved last week to take away some of the bullish influence.  Mid South crops remain fair to good.  However, crop ratings are edging down in response to the hot and dry weather.  Texas crops appear to be mostly fair, but overall crops are holding their condition and benefited from the rains yesterday.  It has been very dry there, so irrigation is still being used.  Chart trends are mostly down for the short term. 

Overnight News: Showers and storms in the Mid South, dry along the Gulf Coast, although rains are forecast for Texas.  Temperatures will average above normal.  

Chart Analysis:  Trends are mixed to down with no objectives.  Support is at 1356, 1336, and 1290 July, and resistance is at 1369, 1383, and 1385 July.

 

General Comments:   Corn was limit down and Oats were a little lower yesterday on what appeared to be massive speculative liquidation tied to the calendar and weather and crop conditions.  Speculators seem to be leaving before the July options go off the Board tomorrow and before the July deliveries get under way next week.  Reports of strong domestic demand and export demand were noted after the recent big price break, and basis levels have been firm.  There is a lot of rain in the forecast for the Midwest for the rest of this week, but hot and dry conditions are forecast for next week.  Basis levels are stable in the country, and Gulf basis levels remain stable to firm.  Cool and wet weather in the northern Great Plains, Canadian Prairies, and parts of the Midwest continue to delay Oats development, but warmer weather this week will allow for progress.  Nearby Corn futures could still trade at or above $8.00 per bushel, especially if good weather is not seen during the rest of US growing season.  September could be the strongest month if weather remains cool and progress remains slow as crop progress is late now.  Crops near and south of Chicago look mostly good but very late.  There are a lot of holes in fields where water had been standing.  Supplies could be very tight by September.  Trends are down for now.

Overnight News:  Basis was steady to firm at the Gulf of Mexico and steady in the Midwest. 

Chart Analysis:  Trends in Corn are down with objectives of 675 and 618 July.  Support is at 659, 654, and 641 July, and resistance is at 692, 708, and 714 July.  Trends in Oats are mixed to down with objectives of 321 and 304 July.  Support is at 350, 342, and 340 July, and resistance is at 358, 361, and 371 July.

General Comments:  Soybeans and products closed lower yesterday on what appeared to be speculative long liquidation.  The selling was tied primarily to weakness in Corn and Wheat futures.  Cash markets in the interior US also remain strong as farmers do not appear too interested in selling, but products basis levels are mostly unchanged.  The weather for the rest of this week looks a little drier and warmer than what has been seen the last couple of days.  It could turn hot and dry next week.  Crops near and south of Chicago in Illinois are just emerging.  Demand does not seem that strong.  Upside price potential would still appear to be more limited than that for Corn or Wheat or Rice.  Ideas of strong production in South America and the potential for production and planted area here in the US to increase are negative, and Chinese buyers appear quiet right now.  South America has plenty of production and has been offering, but activity there seems slow.  Charts show that trends are down. 

Overnight News:  Basis levels are steady at the gulf.  Gulf Soybean Meal basis is steady.  Midwest basis levels were steady to firm.  USDA said that unknown destinations cancelled purchases of 452,500 tons of US Soybeans overnight.

Chart Analysis:  Trends in Soybeans are mixed to down with objectives of 1299 July.  Support is at 1320, 1313, and 1307 July, and resistance is at 1353, 1355, and 1360 July.  Trends in Soybean Meal are down with objectives of 342.00, 341.00, and 340.00July.  Support is at 345.00, 343.00, and 342.00 July, and resistance is at 351.00, 355.00, and 360.00 July.  Trends in Soybean Oil are mixed to down with objectives of 5430 July.  Support is at 5560, 5510, and 5485 July, with resistance at 5710, 5740, and 5770 July.

06/23 07:08 CDT US May soy crush 128.03 mln bu-Census Bureau    WASHINGTON, June 23 (Reuters) - The U.S. Census Bureaureleased the following monthly data on U.S. oil mill stocks andsoybean crushings:                                May 2011      Trade    April 2011     May 2010                                              est.SOYBEAN CRUSHINGS    Short tons:               3,841,067                 3,839,636    3,988,616   Bushels (mln):                128.03       127.56       127.99       132.95SOY/HULL MEAL STOCKS            374,957      407,600      442,943      467,677   (short tons)SOYOIL STOCKS                 3,173,652    3,326,000    3,342,368    3,468,295   (thou lbs)    NOTE: Figures from prior month may be revised    Figures for year ago from Census oilseed crushings report issued July 29,2010.General Comments:  Canola was lower on fund selling.  Traders are starting to get ready for the StatsCan planted area report that was released today.  Ideas were that the reports will not be all that accurate as the bad weather seen in June is not to be included.  Demand seems to have dried up.  Planting progress remains very slow in Canada.  Rains are forecast for Europe again this week to improve things there.  A slow planting pace remains the primary support here.  Palm Oil was lower again as ideas of big production went against ideas of increasing demand.  Positive export data from private sources provided support.  Weakness in Chicago is hurting price action here. Trends are down. 

Overnight News:  

Chart Analysis:  Trends in Canola are down with objectives of 570.00, 553.00, and 536.00 July.  Support is at 569.00, 564.00, and 551.00 July, with resistance at 579.00, 580.00, and 583.00 July.  Trends in Palm Oil are mixed to down with objectives of 3100 September.  Support is at 3150, 3130, and 3095 September, with resistance at 3200, 3210, and 3240 September.

Midwest Weather:   Scattered showers and storms over the week, drier this weekend.  Temperatures will average near to below normal.

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Baixa pressão do óleo após comentários de Bernanke

Petróleo caiu hoje, enquanto o dólar subiu após o Federal Reserve na quarta-feira cortar suas Previsões de crescimento para a maior economia do mundo, e Ben Bernanke, Presidente dá nenhum sinal de qualquer estímulo adicional, que reflete negativamente sobre a maioria dos produtos de ouro ao petróleo.

Petróleo abriu hoje na 94.47 superior intradiário de US $94.44, US $ por barril e o mínimo de US $93.99 por barril para o registo e é negociado atualmente cerca de US $94.10.

O USDIX é passado hoje a intraday para registro 75.16 depois de abrir a 74.86, seu mais baixo para o 77.54 do registro e é negociado atualmente cerca de 75.05 da crescente procura de refúgio no trac sobre as perspectivas para a recuperação global e entusiásticas vista pelo Governo Federal.

Bernanke ontem foi geralmente entusiásticas e o alarme sobre o crescimento da nação. As novas projeções foram terríveis, com crescimento menor revisto e desemprego lento que gradualmente, enquanto as pressões sobre os preços recuperaram um pouco. O FOMC manteve a taxa básica de juros inalterada entre 0,00-0,25%, que foi altamente antecipado, portanto, ele pode oferecer suporte a situação económica, no entanto, as previsões de crescimento foram infelizmente não pressão sempre não o Governo Federal mais que estímulo para apoiar a recuperação do sinal.

O fed ser espera que a economia será entre 2,7% para 2,9% este ano, para a parte inferior do intervalo de expectativas anteriores de 3,1% para 3,3% em Abril. Ele também cortar sua Previsão para um intervalo de 3.3-3,7% de crescimento em 2012. Bancos centrais levantou sua gama de Previsão para a taxa de desemprego para uma média de 8,6% para 8,9% no quarto trimestre de 2011, em comparação com as expectativas de 8.4 para 8,7% em Abril.

Petróleo permanecerá também atingido devido à incerteza que rodeiam a Grécia e o zona euro, como Europa manteve a pressão sobre a Grécia para avançar com um programa de austeridade difícil e Angela Merkel, Chanceler alemão disse Grécia deve mais agressivamente para privatizar empresas estatais e aumentar o rendimento da tarefa. E ela também disse que o voto de confiança foi um passo importante, mas a Grécia agora deve empurrar as reformas para obter a aprovação para a próxima parcela de resgate.

Hoje, os mercados estão à espera de dados sobre o trabalho dos créditos sem emprego mercado teh = semanal que deve permanecer inalterado 415 414 mil mil da semana anterior, e as vendas devem cair por 323-310 mil, a busca de sinais de como a economia em geral, é a situação com a estimativa final do primeiro trimestre real do PIB da nação devida sexta-feira.

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COMENTÁRIOS DE MANHÃ DE GRÃOS

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06/20 15:00 CDT U.S. weekly crop progress highlights - USDA   WASHINGTON, June 20 (Reuters) - Highlights of the U.S. AgricultureDepartment's weekly crop progress report (all numbers expressed in percent): Week ended                    06/19/11  06/12/11  06/19/10   5-year    COTTON CONDITION  - Excellent                      2         3        13       N/A  - Good                          24        25        49       N/A  - Fair                          35        38        33       N/A  - Poor                          17        17         4       N/A  - Very Poor                     22        17         1       N/A    CORN CONDITION  - Excellent                     14        13        19       N/A  - Good                          56        56        56       N/A  - Fair                          23        25        18       N/A  - Poor                           5         4         5       N/A  - Very Poor                      2         2         2       N/A    SOYBEANS CONDITION  - Excellent                     11        10        15       N/A  - Good                          57        57        54       N/A  - Fair                          26        28        23       N/A  - Poor                           4         4         6       N/A  - Very Poor                      2         1         2       N/A    RICE CONDITION  - Excellent                     22        22        22       N/A  - Good                          35        36        53       N/A  - Fair                          32        33        21       N/A  - Poor                           7         7         4       N/A  - Very Poor                      4         2         0       N/A    WINTER WHEAT CONDITION  - Excellent                      8         8        14       N/A  - Good                          28        27        51       N/A  - Fair                          23        23        26       N/A  - Poor                          19        19         7       N/A  - Very Poor                     22        23         2       N/A    SPRING WHEAT CONDITION  - Excellent                     12        11        17       N/A  - Good                          60        57        67       N/A  - Fair                          26        30        15       N/A  - Poor                           2         2         1       N/A  - Very Poor                      0         0         0       N/A    SORGHUM CONDITION  - Excellent                      3         3        12       N/A  - Good                          36        36        61       N/A  - Fair                          42        40        25       N/A  - Poor                          11        12         2       N/A  - Very Poor                      8         9         0       N/A    PEANUTS CONDITION  - Excellent                      2         2         9       N/A  - Good                          28        27        58       N/A  - Fair                          41        40        31       N/A  - Poor                          20        22         2       N/A  - Very Poor                      9         9         0       N/A    BARLEY CONDITION  - Excellent                     11        10        16       N/A  - Good                          63        56        70       N/A  - Fair                          23        29        13       N/A  - Poor                           3         4         1       N/A  - Very Poor                      0         1         0       N/A    OATS CONDITION  - Excellent                     10         9        17       N/A  - Good                          49        50        64       N/A  - Fair                          20        20        15       N/A  - Poor                           7         7         3       N/A  - Very Poor                     14        14         1       N/A    PASTURE AND RANGE CONDITION  - Excellent                     11        11        15       N/A  - Good                          42        42        56       N/A  - Fair                          22        22        23       N/A  - Poor                          12        13         5       N/A  - Very Poor                     13        12         1       N/A    COTTON SQUARING               21        12        26        25    CORN EMERGED                  97        91       100        99    SOYBEANS PLANTED              94        87        93        93    SOYBEANS EMERGED              82        64        87        86    RICE EMERGED                  97        93        97        97    WINTER WHEAT HEADED           90        85        91        94    WINTER WHEAT HARVESTED        31        22        17        22    SPRING WHEAT PLANTED          91        88       100       100    SPRING WHEAT EMERGED          83        73        99        99    SUNFLOWERS PLANTED            74        56        81        85    SORGHUM PLANTED               86        75        86        84    SORGHUM HEADED                25        NA        17        17    PEANUTS PLANTED               96        93        98        98    PEANUTS PEGGING                6        NA         8         7    BARLEY PLANTED                90        88       100       100    BARLEY EMERGED                79        72        98        99    OATS EMERGED                  96        91       100       100    OATS HEADED                   41        33        64        5506/20 10:30a CST  DJ USDA Grain Inspections For Export In Metric Tons-Jun 20    For the week ending Jun 16, in thousand metric tons. Includeswaterway shipments to Canada. Grain             -------week ending-------       current    previous                Jun 16       Jun 9       last      mkt yr      mkt yr                                         year     to date     to dateWheat           569.3       674.4       373.0     1,466.5       989.0Rye               0.0         0.0         0.0         0.0         0.0Oats              0.0         0.0         0.1         0.0         0.1Barley            0.8         1.6         0.2         3.5         2.6Flaxseed          0.0         0.0         0.0         0.0         0.1Corn          1,091.7       899.2       750.4    36,016.7    36,891.4Sorghum          82.8        49.7         8.0     3,135.5     3,554.0Soybeans        113.8       208.3       252.3    38,353.6    37,077.3Sunflower         0.0         0.0         0.0         0.0         0.0Total         1,858.5     1,833.2     1,383.9    78,975.7    78,514.5  Crop marketing years begin June 1 for wheat, rye, oats, and barley.September 1 for corn, sorghum, and soybeans.General Comments:  Futures closed lower yesterday on harvest progress and reports of more rains in Europe.  Also hurting Wheat was the big selling by funds in response to the European economic problems and harvest progress.  Russia and its neighbors are starting to offer Wheat and are usually the cheapest sellers in the world, so some here are selling on this idea as well.  The US harvest is well underway, with harvesters making rapid progress in the central and southern Great Plains.  Progress has been slower in Kansas due to showers there.  The drought in Texas and Oklahoma and other weather worries continue to provide support.  Midwest and Mid South Wheat crops have been going downhill due to too much rain, and planting of Spring Wheat crops has been a big problem in the Northern Plains and Canadian Prairies.  CWB said that Spring Wheat planting made no progress last week and is still 87% complete.  More rain was seen in the Dakotas and Minnesota yesterday.  Weather forecasts for dry and warm weather in Texas and Oklahoma continue.  More rain is forecast for Europe in the next few days.  Charts show that the trends are down.

Overnight News:  Mostly dry conditions are expected in the southern Great Plains, but northern areas could see precipitation early this week.  Temperatures should average near to above normal.  The Canadian Prairies should get periods of light precipitation through the week.   Temperatures will average near to above normal.  Gulf basis levels are steady to firm for Soft Red Winter Wheat and steady for Hard Red Winter Wheat.  China imported 271,040 tons of Wheat bewteen January and May, down 61% from last year.  May imports were 10,308 tons, down 95% from last year.    

Chart Analysis: Trends in Chicago are down with objectives of 654 July.  Support is at 654, 647, and 641 July, with resistance at 664, 684, and 691 July.  Trends in Kansas City are mixed to down with no objectives.  Support is at 790, 775, and 732 July, with resistance at 810, 828, and 845 July.  Trends in Minneapolis are mixed to down with objectives of 835 and 685 July.  Support is at 888, 884, and 879 July, and resistance is at 912, 918, and 932 July.

General Comments:  Prices were lower again yesterday on speculative selling tied to weakness seen in most commodities markets and the European economic issues.  Some forecasts for some rains in Texas and Mid South growing areas also hurt the price potential.  World production and prices remain a concern, and those prices have been soft, although have been a little firmer in Asia in the last week.  Many in Thailand are holding back to see what happens in the elections next month, and Vietnam is now ready to hold back stocks from the market to help prices there.  Weather and poor growing conditions in the US remain important, but overall crop ratings improved last week to take away some of the bullish influence.  Producers continue to work, but it has turned hot and dry in many areas.  Forecasts call for warm and dry conditions to continue into the week, but some beneficial precipitation is possible about midweek.  Texas crops appear to be mostly fair, but overall crops showed good improvement.  It has been very dry there, so irrigation is being used.  Chart trends are down for the short term. 

Overnight News: Mostly dry in the Mid South, dry along the Gulf Coast.  Temperatures will average above normal.  

Chart Analysis:  Trends are down with no objectives.  Support is at 1369, 1364, and 1356 July, and resistance is at 1390, 1405, and 1427 July.

General Comments:   Corn was mostly higher and Oats were lower again yesterday on weather and crop conditions.  Buying was also seen on ideas that the market got a little oversold last week.  Much of the selling was in response to the economic problems seen in Europe and ideas that crop conditions were getting better.  However, there is a lot of rain in the forecast for the Midwest this week, and quite a bit of rain was seen in the Midwest over the weekend.  Basis levels have turned weaker in the country, but Gulf basis levels remain stable.  Overall conditions appear to be mixed as USDA noted in the weekly reports.  Cool and wet weather in the northern Great Plains, Canadian Prairies, and parts of the Midwest continue to delay Oats development, but warmer weather this week will allow for progress.  Nearby Corn futures could still trade at or above $8.00 per bushel, especially if good weather is not seen during the rest of US growing season.  September could be the strongest month if weather remains cool and progress remains slow as crop progress is late now.  Crops near and south of Chicago look mostly good but very late.  There are a lot of holes in fields where water had been standing.  Supplies could be very tight by September.  Trends are down for now.

Overnight News:  Basis was steady at the Gulf of Mexico and steady to weak in the Midwest.  China imported 12,010 tons of Corn in May, more than twice as much as last year.  Calendar yewar to date imports are now 24,491 tons.

Chart Analysis:  Trends in Corn are mixed to down with objectives of 675 and 618 July.  Support is at 692, 659, and 654 July, and resistance is at 714, 727, and 730 July.  Trends in Oats are down with objectives of 321 and 304 July.  Support is at 342, 336, and 327 July, and resistance is at 354, 358, and 361 July.

General Comments:  Soybeans and products closed higher yesterday on ideas the selling was overdone last week and on some reports of stronger cash markets in Brazil.  Cash markets in the interior US also remain strong as farmers do not appear too interested in selling, but products basis levels are mostly unchanged.  The weather for this week looks warmer for most growing areas, but some precipitation likely off and on all week.  Crops near and south of Chicago in Illinois are just emerging.  Demand does not seem that strong.  Upside price potential would still appear to be more limited than that for Corn or Wheat or Rice.  Ideas of strong production in South America and the potential for production and planted area here in the US to increase are negative, and Chinese buyers appear quiet right now.  South America has plenty of production and has been offering, but activity there seems slow.  Charts show that trends are down. 

Overnight News:  Basis levels are steady at the gulf.  Gulf Soybean Meal basis is steady.  Midwest basis levels were steady to firm. China bought 4.56 million tons of Soybeans in May, up 4% from last year.  Calendar year to date imports are now 19.41 million tons.  

Chart Analysis:  Trends in Soybeans are down with objectives of 1299 July.  Support is at 1331, 1313, and 1307 July, and resistance is at 1353, 1355, and 1360 July.  Trends in Soybean Meal are down with objectives of 349.00, 342.00, and 341.00July.  Support is at 349.00, 345.00, and 343.00 July, and resistance is at 355.00, 360.00, and 364.00 July.  Trends in Soybean Oil are down with objectives of 5430 July.  Support is at 5560, 5510, and 5485 July, with resistance at 5640, 5710, and 5740 July.

General Comments:  Canola was lower again yesterday in light volume liquidation selling.  Traders are starting to get ready for the StatsCan planted area report to be released Thursday, but ideas are that the reports will not be all that accurate as the bad weather seen in June is not to be included.  Demand seems to have dried up.  Planting progress remains very slow in Canada.  Rains are forecast for Europe again this week to improve things there.  A slow planting pace remains the primary support here.  Palm Oil was higher in consolidation trading and after a big down week last week.  Positive export data from private sources provided support as did ideas of increasing demand for the short term.  Weakness in Chicago is hurting price action here. Trends are down. 

Overnight News:  

Chart Analysis:  Trends in Canola are mixed to down with objectives of 570.00, 553.00, and 536.00 July.  Support is at 579.00, 569.00, and 564.00 July, with resistance at 583.00, 589.00, and 600.00 July.  Trends in Palm Oil are mixed to down with objectives of 3100 September.  Support is at 3185, 3150, and 3130 September, with resistance at 3330, 3395, and 3410 September.

Midwest Weather:   Scattered showers and storms over the week.  Temperatures will average near to below normal.

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General Comments:  Futures closed mixed yesterday in consolidation trading.  Futures had moved much lower in the week on the Euro crisis fears, but this week the tone is a little different as bad weather in the US has become more important again.  No rain has been reported in Texas or Georgia growing areas, and little is in the forecast for this week.  Ideas are that few deliveries can be made as the supplies are not available.  Wire reports that Texas dryland farmers are on the verge of declaring crops as disasters added some support.  Western Texas, where almost half of all US Cotton is grown, has been very dry, and there are no forecasts for much relief, if any, into next week.  Eastern areas have had some precipitation in the last week or so, but it remains too dry in many growing areas of the Southeast, especially in Georgia.  Delta areas are warm and dry, although a few showers are possible during the second half of the week.  Demand remains poor.

Overnight News:  The Delta and Southeast will get showers and storms today and tomorrow, then will see lighter precipitation through the weekend.  Temperatures will average near to above normal.  Texas will be mostly dry, but a few showers are possible over the second half of the week.  Temperatures will average above to much above normal.  The USDA average spot price is now 135.99 ct/lb.  ICE said that certified Cotton stocks are now 0.065 million bales, from 0.063 million yesterday.  China imported 144,559 tons pf Cotton in May, down 27% from last year.  Calendar year to date imports are now 1.2 million tons, down 11.7% from last year.

Chart Trends:  Trends in Cotton are mixed.  Support is at 146.00, 143.00, and 142.00 May, with resistance of 150.00, 155.00, and 157.00 May.

06/20 15:00 CDT U.S. weekly crop progress highlights - USDA   WASHINGTON, June 20 (Reuters) - Highlights of the U.S. AgricultureDepartment's weekly crop progress report (all numbers expressed in percent): Week ended                    06/19/11  06/12/11  06/19/10   5-year    COTTON CONDITION  - Excellent                      2         3        13       N/A  - Good                          24        25        49       N/A  - Fair                          35        38        33       N/A  - Poor                          17        17         4       N/A  - Very Poor                     22        17         1       N/A    COTTON SQUARING               21        12        26        2506/20 04:53p CST  DJ ICE Cotton Speculation And Hedging Report - Jun 20     For Jun 17 long and short positions in contracts.SPECULATION      LONG   ACCTS     PCT   SHORT   ACCTS     PCT  Total        52,882   1,247    35.1  39,651   1,010    26.3HEDGING  Total        97,643     279    64.9 110,874     244    73.7 GRAND TOTAL:  150,525   1,526   100.0 150,525   1,254   100.0General Comments:  Futures closed higher yesterday on what appeared to be speculative buying.  The buying pushed futures back to the top end of the recent trading range.  There is not a lot of news to support any big rallies in OJ right now.  No tropical storms are in the forecast.  Florida remains mostly warm and dry, with no forecasts for significant rains in sight.  Drought still affects a large portion of the citrus producing area, but crops are called in mostly good condition at this time due to irrigation.  Fruit is developing and small fruit is visible on the trees.  The fruit is called in good condition due to irrigation.  Seasonal forecasts call for a more active than normal Atlantic hurricane season.  Charts show that the market is trying to decide on the next move.

Overnight News:  Florida weather forecasts call for mostly dry conditions, but afternoon showers are possible this weekend.  Temperatures will average near to above normal. 

Chart Trends:  Trends in FCOJ are mixed.  Support is at 181.00, 181.00, and 179.00 July, with resistance at 188.00, 191.00, and 194.00 July.

General Comments:  Futures were lower in all markets, with increasing offers from Asia and Brazil hurting any rally potential.  The selling was also due to the world economic problems, especially those in Europe.  Producers are still not selling much, but there seems to be an uptick in offers now as some producers feel they have missed the market.  Roasters are said to be well covered for now.  Fundamentals continue to suggest strong prices overall for the longer term.  Lower Mitaca crop production in Colombia and the potential for a freeze in Brazil is offering reasons for speculators to buy.  Traders generally expect tight supplies to continue through the next crop year due to lower production in Brazil and for high prices to continue as well.  But, the ICO showed that supplies might not be as tight as expected in the coming year.  Chart show that trends are down as futures absorb the increased offers from Asia and Brazil.

Overnight News:  Certified stocks are lower today and are about 1.657 million bags.  The ICO composite price is now 205.35 ct/lb.  Brazil should see scattered showers this week and dry weather this weekend.  Temperatures will average near to below normal.  

Chart Trends:  Trends in New York are down with objectives of 241.00 July.  Support is at 241.00, 236.00, and 234.00 July, and resistance is at 250.00, 256.00, and 257.00 July.  Trends in London are down with objectives of 2220 and 2200 July.  Support is at 2225, 2170, and 2110 July, and resistance is at 2280, 2300, and 2410 July.  Trends in Sao Paulo are down with objectives of 270.00 September.  Support is at 321.00, 317.00, and 309.00 September, and resistance is at 326.00, 327.00, and 337.00 September.

General Comments:  Futures closed higher in New York and in London.  Ideas of slow processing and shipping delays in Brazil had supported prices.  Yields were down sharply from last year, so total Sugar production might not be all that strong.  Some buying was noted on ideas that the weather in Brazil is not getting better.  Demand has been increasing as many Middle Eastern countries get ready for Ramadan.  Bears keep pointing to increased supplies around the world and no demand this year from India as reasons to see futures move lower over time.  The harvest conditions seem good at this time in Brazil and also in Thailand, and production ideas in both countries are big.  However, both countries are said to be behind in shipping Sugar to overseas buyers.  Trends remain up, but it is possible that this part of the up move is running out of steam. 

Overnight News:  Mostly dry conditions are expected in Brazil this weekend, but showers are likely the rest of the week.  Temperatures should be near to above normal.  China imported 172,842 tons of Sugar in May, up 48% from last year.  Calendar year to date imports are now 409,673 tons, up 84% from last year.  ABARE in Australia said that Sugar production there will be 3.85 million tons, unchanged from its previous estimate.

Chart Trends:  Trends in New York are up with objectives of 2710 October.  Support is at 2580, 2490, and 2460 October, and resistance is at 2670, 2735, and 2800 October.  Trends in London are up with objectives of 687.00 and 708.00 October.  Support is at 656.00, 643.00, and 636.00 October, and resistance is at 678.00, 697.00, and 712.00 October.

General Comments:  Futures were higher in New York and in London again yesterday on increasing concerns about crop quality in Western Africa.  In addition, recent wire service reports have noted that many Ivory Coast farmers refuse to return home, so supplies from there might be smaller than originally thought at the beginning of the market year due to labor problems.  Ideas are that the market might have made a temporary low, but for now there is no real reason to buy.  Fundamentals have not really changed.  Ivory Coast and western African selling pressure remains a feature of the market.  Overall ideas are that production there and in the rest of West Africa are improved this year due to the good rains and generally favorable weather patterns.  The mid crop is supposed to be big this year in all countries in West Africa and will probably get exported quickly now.  Trends are mixed. 

Overnight News:  Scattered showers and storms are expected in West Africa.  Temperatures will average above normal.  ICE stocks are lower today and are now about 3.445 million bags.  ICE said that deliveries today are 6 contracts and now total 46 contracts for the month.   

Chart Trends:  Trends in New York are mixed.  Support is at 2880, 2870, and 2805 September, with resistance at 2920, 2970, and 3020 September.  Trends in London are mixed to down with objectives of 1800 and 1760 September.  Support is at 1790, 1760, and 1730 September, with resistance at 1830, 1860, and 1870 September.

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MANHÃ de grãos comentários Jack Scoville

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General Comments:  Futures closed mixed Friday, with Chicago a little lower and Kansas City a little higher and Minneapolis on both sides of unchanged.  Hurting Wheat was the big selling by funds in response to the European economic problems and harvest progress.  The US harvest is well underway, with harvesters making rapid progress in the central and southern Great Plains.  Progress has been slower in Kansas due to showers there.  The drought in Texas and Oklahoma and other weather worries continue to provide support.  Midwest and Mid South Wheat crops have been going downhill due to too much rain, and planting of Spring Wheat crops has been a big problem in the Northern Plains and Canadian Prairies.  More rain was seen in the Dakotas and Minnesota yesterday.  Weather forecasts for dry and warm weather in Texas and Oklahoma continue.  More rain is forecast for Europe in the next few days.  Charts show that the trends are down.

Overnight News:  Mostly dry conditions are expected in the southern Great Plains, but northern areas could see precipitation early this week.  Temperatures should average near to above normal.  The Canadian Prairies should get periods of light precipitation through the week.   Temperatures will average near to above normal.  Gulf basis levels are steady to firm for Soft Red Winter Wheat and steady for Hard Red Winter Wheat.  Saudi Arabia bought 330,000 tons of US and European What over the weekend.    

Chart Analysis: Trends in Chicago are down with objectives of 654 July.  Support is at 664, 660, and 647 July, with resistance at 684, 691, and 701 July.  Trends in Kansas City are down with no objectives.  Support is at 790, 775, and 732 July, with resistance at 810, 828, and 845 July.  Trends in Minneapolis are down with objectives of 835 and 685 July.  Support is at 888, 884, and 878 July, and resistance is at 918, 932, and 965 July.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 14, 2011              :                                             Reportable Positions                                             :------------------------------------------------------------------------------------------------------------- : Producer/Merchant :                             :                             :                              :  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading --------------------------------------------------------------------------------------------------------------WHEAT - CHICAGO BOARD OF TRADE   (CONTRACTS OF 5,000 BUSHELS)                                                  CFTC Code #001602                                                    Open Interest is   577,958                : Positions                                                                                                    :   55,787   205,867   179,320    16,183    45,600    64,516    56,958    58,519    27,621    27,918    96,191                                                                                                               : Changes from:     June 7, 2011                                                                               :   -1,231   -10,708     2,342      -446    -2,852    -2,004    10,892    -2,003     2,689      -830    -3,050                                                                                                               : Percent of Open Interest Represented by Each Category of Trader                                              :      9.7      35.6      31.0       2.8       7.9      11.2       9.9      10.1       4.8       4.8      16.6                                                                                                               : Number of Traders in Each Category                                  Total Traders:   451                     :       75       102        20         8        25        59        72        73        89        77       127 -------------------------------------------------------------------------------------------------------------- Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 14, 2011              :                                             Reportable Positions                                             :------------------------------------------------------------------------------------------------------------- : Producer/Merchant :                             :                             :                              :  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading --------------------------------------------------------------------------------------------------------------WHEAT - KANSAS CITY BOARD OF TRADE   (CONTRACTS OF 5,000 BUSHELS)                                              CFTC Code #001612                                                    Open Interest is   185,925                : Positions                                                                                                    :   42,341   102,684    26,956     6,624    11,059    45,369     5,449     9,459    10,860     5,700    15,088                                                                                                               : Changes from:     June 7, 2011                                                                               :     -502    -3,217       117       271     1,033       190      -131    -1,387      -664       131       203                                                                                                               : Percent of Open Interest Represented by Each Category of Trader                                              :     22.8      55.2      14.5       3.6       5.9      24.4       2.9       5.1       5.8       3.1       8.1                                                                                                               : Number of Traders in Each Category                                  Total Traders:   192                     :       52        72        13         .         8        38         8        20        22        20        35 -------------------------------------------------------------------------------------------------------------- Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 14, 2011              :                                             Reportable Positions                                             :------------------------------------------------------------------------------------------------------------- : Producer/Merchant :                             :                             :                              :  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading --------------------------------------------------------------------------------------------------------------WHEAT - MINNEAPOLIS GRAIN EXCHANGE   (CONTRACTS OF 5,000 BUSHELS)                                              CFTC Code #001626                                                    Open Interest is    61,663                : Positions                                                                                                    :   16,896    40,643     1,106         0         0    15,818       324     1,634     5,240       892     4,324                                                                                                               : Changes from:     June 7, 2011                                                                               :    3,052     1,506      -223         0        -4      -197       301       558      -858        66     1,486                                                                                                               : Percent of Open Interest Represented by Each Category of Trader                                              :     27.4      65.9       1.8       0.0       0.0      25.7       0.5       2.7       8.5       1.4       7.0                                                                                                               : Number of Traders in Each Category                                  Total Traders:    77                     :       26        27         4         0         .        17         .         6        13         5        11 --------------------------------------------------------------------------------------------------------------

General Comments: Prices were lower again Friday on speculative selling tied to weakness seen in most commodities markets and the European economic issues.  Some short covering brought futures off of the lows late in the session.  World production and prices remain a concern, and those prices have been soft, although have been a little firmer in Asia in the last week.  Weather and poor growing conditions in the US remain important, but overall crop ratings improved last week to take away some of the bullish influence.  Producers continue to work, but it has turned hot and dry in many areas.  Forecasts call for warm and dry conditions to continue into the week, but some beneficial precipitation is possible about midweek.  Texas crops appear to be mostly fair, but overall crops showed good improvement.  It has been very dry there, so irrigation is being used.  Chart trends are down for the short term. 

Overnight News: Mostly dry in the Mid South, dry along the Gulf Coast.  Temperatures will average above normal.  

Chart Analysis:  Trends are down with no objectives.  Support is at 1390, 1385, and 1383 July, and resistance is at 1405, 1427, and 1435 July.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 14, 2011              :                                             Reportable Positions                                             :------------------------------------------------------------------------------------------------------------- : Producer/Merchant :                             :                             :                              :  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading --------------------------------------------------------------------------------------------------------------ROUGH RICE - CHICAGO BOARD OF TRADE   (CONTRACTS OF 200,000 POUNDS)                                            CFTC Code #039601                                                    Open Interest is    21,823                : Positions                                                                                                    :    4,050    15,709     4,250         0         0     3,601       728        13     2,493     1,391     2,471                                                                                                               : Changes from:     June 7, 2011                                                                               :       -0    -1,037        33         0         0      -189         0         0      -559       118       221                                                                                                               : Percent of Open Interest Represented by Each Category of Trader                                              :     18.6      72.0      19.5       0.0       0.0      16.5       3.3       0.1      11.4       6.4      11.3                                                                                                               : Number of Traders in Each Category                                  Total Traders:    99                     :       18        24        11         0         0        19         4         .        21        14        17 -------------------------------------------------------------------------------------------------------------- 

General Comments:   Corn was mostly higher and Oats were lower Friday on weather and fund selling, but there was a lot of late short covering, especially in the Corn.  Much of the selling was in response to the economic problems seen in Europe.  Basis levels have turned weaker in late week trading, but Gulf basis levels remain stable.  Warm and drier are likely for much of this week, but precipitation is possible about midweek.  Overall conditions appear to be improving.  Corn planting is now mostly done in the western Corn Belt, but progress there will continue to be slow in the east and many farmers may now look to plant other crops such as Soybeans.  Cool and wet weather in the northern Great Plains, Canadian Prairies, and parts of the Midwest continue to delay Oats development, but warmer weather this week will allow for progress.  Nearby Corn futures could still trade at or above $8.00 per bushel, especially if good weather is not seen during the rest of US growing season.  September could be the strongest month if weather remains cool and progress remains slow as crop progress is late now.  Crops near and south of Chicago look mostly good but very late.  There are a lot of holes in fields where water had been standing.  Supplies could be very tight by September.  Trends are down for now.

Overnight News:  Basis was steady at the Gulf of Mexico and steady to weak in the Midwest.

Chart Analysis:  Trends in Corn are down with objectives of 675 and 618 July.  Support is at 692, 659, and 654 July, and resistance is at 727, 730, and 737 July.  Trends in Oats are down with objectives of 350, 321, and 304 July.  Support is at 354, 350, and 336 July, and resistance is at 361, 371, and 379 July.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 14, 2011              :                                             Reportable Positions                                             :------------------------------------------------------------------------------------------------------------- : Producer/Merchant :                             :                             :                              :  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading --------------------------------------------------------------------------------------------------------------CORN - CHICAGO BOARD OF TRADE   (CONTRACTS OF 5,000 BUSHELS)                                                   CFTC Code #002602                                                    Open Interest is 2,224,832                : Positions                                                                                                    :  335,688   870,958   293,848    54,124   170,719   362,525    26,104   262,327    93,670    60,015   488,230                                                                                                               : Changes from:     June 7, 2011                                                                               :   -3,798    -2,830     1,786       -49    14,512    15,001    -2,332     7,199    -3,676     7,380    21,180                                                                                                               : Percent of Open Interest Represented by Each Category of Trader                                              :     15.1      39.1      13.2       2.4       7.7      16.3       1.2      11.8       4.2       2.7      21.9                                                                                                               : Number of Traders in Each Category                                  Total Traders:   953                     :      271       394        19        10        26       144        31        95       162       137       240 -------------------------------------------------------------------------------------------------------------- Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 14, 2011              :                                             Reportable Positions                                             :------------------------------------------------------------------------------------------------------------- : Producer/Merchant :                             :                             :                              :  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading --------------------------------------------------------------------------------------------------------------OATS - CHICAGO BOARD OF TRADE   (CONTRACTS OF 5,000 BUSHELS)                                                   CFTC Code #004603                                                    Open Interest is    14,355                : Positions                                                                                                    :    4,108    11,567     2,259         0       135     3,571       113         2       109       503     1,029                                                                                                               : Changes from:     June 7, 2011                                                                               :       23       681       -64         0         0       723      -107       -59      -260        42      -307                                                                                                               : Percent of Open Interest Represented by Each Category of Trader                                              :     28.6      80.6      15.7       0.0       0.9      24.9       0.8       0.0       0.8       3.5       7.2                                                                                                               : Number of Traders in Each Category                                  Total Traders:    44                     :       11        13         5         0         .        13         .         .         .         5         5 --------------------------------------------------------------------------------------------------------------Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 14, 2011              :                                             Reportable Positions                                             :------------------------------------------------------------------------------------------------------------- : Producer/Merchant :                             :                             :                              :  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading --------------------------------------------------------------------------------------------------------------CBT ETHANOL - CHICAGO BOARD OF TRADE   (CONTRACTS OF 29,000 U.S. GALLONS)                                      CFTC Code #025601                                                    Open Interest is     9,652                : Positions                                                                                                    :    7,577     7,450        34       766       242        65         0       298       494       118       392                                                                                                               : Changes from:     June 7, 2011                                                                               :      956       421        34       273       -47        65       -87        -3      -426         0        25                                                                                                               : Percent of Open Interest Represented by Each Category of Trader                                              :     78.5      77.2       0.4       7.9       2.5       0.7       0.0       3.1       5.1       1.2       4.1                                                                                                               : Number of Traders in Each Category                                  Total Traders:    41                     :       18        23         .         .         .         .         0         .         4         .         4 --------------------------------------------------------------------------------------------------------------

General Comments:  Soybeans and products closed lower Friday on weakness in most commodities markets and the European crisis.  There was no real bullish news for Soybeans, although cash markets in the interior US remain strong.  The weather for this week looks warmer and drier for most growing areas, but some precipitation is likely about midweek.  Crops near and south of Chicago in Illinois are just emerging.  Demand does not seem that strong.  Upside price potential would still appear to be more limited than that for Corn or Wheat or Rice.  Ideas of strong production in South America and the potential for production and planted area here in the US to increase are negative, and Chinese buyers appear quiet right now.  South America has plenty of production and has been offering, but activity there seems slow.  Charts show that trends are down. 

Overnight News:  Basis levels are steady at the gulf.  Gulf Soybean Meal basis is steady.  Midwest basis levels were steady to firm.   

Chart Analysis:  Trends in Soybeans are down with objectives of 1299 July.  Support is at 1313, 1307, and 1305 July, and resistance is at 1353, 1355, and 1360 July.  Trends in Soybean Meal are down with objectives of 349.00, 342.00, and 341.00July.  Support is at 349.00, 345.00, and 343.00 July, and resistance is at 360.00, 364.00, and 366.00 July.  Trends in Soybean Oil are down with objectives of 5430 July.  Support is at 5560, 5510, and 5485 July, with resistance at 5620, 5640, and 5710 July.

Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 14, 2011              :                                             Reportable Positions                                             :------------------------------------------------------------------------------------------------------------- : Producer/Merchant :                             :                             :                              :  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading --------------------------------------------------------------------------------------------------------------SOYBEANS - CHICAGO BOARD OF TRADE   (CONTRACTS OF 5,000 BUSHELS)                                               CFTC Code #005602                                                    Open Interest is   835,443                : Positions                                                                                                    :  164,403   343,890   140,774    20,606    42,186   126,684    27,005   101,427    21,794    32,889   175,018                                                                                                               : Changes from:     June 7, 2011                                                                               :    9,173   -17,546       628       274       561   -13,695     4,177    -2,318    -1,339     1,341    -1,584                                                                                                               : Percent of Open Interest Represented by Each Category of Trader                                              :     19.7      41.2      16.9       2.5       5.0      15.2       3.2      12.1       2.6       3.9      20.9                                                                                                               : Number of Traders in Each Category                                  Total Traders:   590                     :      103       175        21         7        26        98        39        79        94       127       168 -------------------------------------------------------------------------------------------------------------- Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 14, 2011              :                                             Reportable Positions                                             :------------------------------------------------------------------------------------------------------------- : Producer/Merchant :                             :                             :                              :  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading --------------------------------------------------------------------------------------------------------------MINI SOYBEANS - CHICAGO BOARD OF TRADE   (Contracts of 1,000 Bushels)                                          CFTC Code #005603                                                    Open Interest is    26,631                : Positions                                                                                                    :        3     6,545         0         0         0         0         0         0    23,550     3,130       217                                                                                                               : Changes from:     June 7, 2011                                                                               :        0        90         0         0         0      -200         0         0      -124       -31       137                                                                                                               : Percent of Open Interest Represented by Each Category of Trader                                              :      0.0      24.6       0.0       0.0       0.0       0.0       0.0       0.0      88.4      11.8       0.8                                                                                                               : Number of Traders in Each Category                                  Total Traders:    43                     :        .        18         0         0         0         0         0         0        16         9         8 -------------------------------------------------------------------------------------------------------------- Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 14, 2011              :                                             Reportable Positions                                             :------------------------------------------------------------------------------------------------------------- : Producer/Merchant :                             :                             :                              :  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading --------------------------------------------------------------------------------------------------------------SOYBEAN CSO - CHICAGO BOARD OF TRADE   (CONTRACTS OF 5,000 BUSHELS)                                            CFTC Code #005606                                                    Open Interest is    14,820                : Positions                                                                                                    :    7,036       598     1,305         0         8         9     4,818     1,192     1,603     4,697     3,235                                                                                                               : Changes from:     June 7, 2011                                                                               :       24       -25         3         0        -1       -11        56       405       439       477       278                                                                                                               : Percent of Open Interest Represented by Each Category of Trader                                              :     47.5       4.0       8.8       0.0       0.1       0.1      32.5       8.0      10.8      31.7      21.8                                                                                                               : Number of Traders in Each Category                                  Total Traders:    27                     :        6         4         6         0         .         .         .         .         6         4         9 -------------------------------------------------------------------------------------------------------------- Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 14, 2011              :                                             Reportable Positions                                             :------------------------------------------------------------------------------------------------------------- : Producer/Merchant :                             :                             :                              :  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading --------------------------------------------------------------------------------------------------------------SOYBEAN OIL - CHICAGO BOARD OF TRADE   (CONTRACTS OF 60,000 POUNDS)                                            CFTC Code #007601                                                    Open Interest is   397,121                : Positions                                                                                                    :   93,538   231,859    78,815     1,863    12,999    65,678    20,581    32,024    23,719    17,194    54,621                                                                                                               : Changes from:     June 7, 2011                                                                               :   11,005   -12,195        11        30     1,065    -9,794     7,809      -595     1,232     1,444    -3,424                                                                                                               : Percent of Open Interest Represented by Each Category of Trader                                              :     23.6      58.4      19.8       0.5       3.3      16.5       5.2       8.1       6.0       4.3      13.8                                                                                                               : Number of Traders in Each Category                                  Total Traders:   278                     :       53        66        16         .        13        57        26        29        32        51        73 -------------------------------------------------------------------------------------------------------------- Disaggregated Commitments of Traders- Options and Futures Combined Positions as of June 14, 2011              :                                             Reportable Positions                                             :------------------------------------------------------------------------------------------------------------- : Producer/Merchant :                             :                             :                              :  Processor/User   :        Swap Dealers         :        Managed Money        :      Other Reportables       :   Long  :  Short  :   Long  :  Short  :Spreading:   Long  :  Short  :Spreading:   Long  :  Short  :Spreading --------------------------------------------------------------------------------------------------------------SOYBEAN MEAL - CHICAGO BOARD OF TRADE   (CONTRACTS OF 100 TONS)                                                CFTC Code #026603                                                    Open Interest is   265,496                : Positions                                                                                                    :   76,864   150,210    20,766     3,816     5,257    47,117    12,945    31,974     7,546     6,867    28,799                                                                                                               : Changes from:     June 7, 2011                                                                               :     -438    -1,219     1,091    -1,310       277    -1,642     1,251    -1,227     1,595      -375    -1,483                                                                                                               : Percent of Open Interest Represented by Each Category of Trader                                              :     29.0      56.6       7.8       1.4       2.0      17.7       4.9      12.0       2.8       2.6      10.8                                                                                                               : Number of Traders in Each Category                                  Total Traders:   203                     :       56        59        11         .        12        50        15        28        23        18        39 --------------------------------------------------------------------------------------------------------------General Comments:  Canola was lower Friday on liquidation selling tied to price action in Chicago.  Demand seems to have dried up.  Planting progress remains very slow in Canada.  Rains are forecast for Europe again this week to improve things there.  France and England remain dry.  A slow planting pace remains the primary support here.  Palm Oil was unchanged to a little lower in consolidation trading and after a big down week last week.  Positive export data from private sources provided support as did ideas of increasing demand for the short term.  Weakness in Chicago is hurting price action here. Trends are down.  SGS estimated exports so far this month at 973,211 tons, from 819,257 tons last month.  ITK estimated exports at 969,804 tons, from 794,322 tons last month.

Overnight News:  

Chart Analysis:  Trends in Canola are mixed to down with objectives of 570.00, 553.00, and 536.00 July.  Support is at 574.00, 569.00, and 564.00 July, with resistance at 589.00, 600.00, and 603.00 July.  Trends in Palm Oil are down with objectives of 3100 September.  Support is at 3150, 3130, and 3095 September, with resistance at 3210, 3330, and 3395 September.

06/17 12:00 CDT Canada weekly canola crushings up 25.6 pct    WINNIPEG, Manitoba, June 17 (Reuters) - Report of weeklycrushings by the Canadian Oilseed Processors Association forthe week ended June 15 (in tonnes).                             Canola              SoybeansWeek ended June 15           108,604                25,622Change from previous week (%)  +25.6                  -2.92010/11 to date            5,214,714             1,204,097Year ago                   3,929,733             1,144,710Week ended June 8             86,457                26,391June 1                        90,830                25,450May 25                       116,718                29,191May 18                       106,848                27,796May 11                       116,107                29,407Crush capacity utilization (%)This week                     74.8                57.2Year to date                  85.4                63.9Year ago                      81.7                60.8Midwest Weather:   Scattered showers over the weekend.  Temperatures will average near to below normal.

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