Grains Report 01/06/2025

DJ CBOT Delivery Intentions: Totals – Jan 6
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL January Jan 07, 2025 279 Jan 03, 2025
SOYBEAN OIL January Jan 07, 2025 16 Dec 31, 2024
SOYBEAN January Jan 07, 2025 66 Dec 31, 2024

DJ Canadian Grain Handling Summary – Jan 3
Winnipeg — The following are Canadian grain handling summary statistics
for the period that ended Dec. 29, 2024. Figures in thousands of metric
tons. Source: Canadian Grain Commission.
Wheat Durum Oats Barley Flax Canola Peas Corn Total
COMMERCIAL STOCKS
This Week 208.7 18.1 3.3 1.4 0.0 31.5 2.0 102.5 423.5
Week Ago 2650.0 640.3 279.7 341.9 31.9 1300.0 299.5 264.6 6673.1
Year Ago 2699.7 945.3 333.5 326.5 54.6 1557.2 382.7 195.7 6910.3
PRODUCER DELIVERIES
This Week 171.3 51.5 21.2 23.8 0.5 187.9 10.3 5.7 489.5
Week Ago 490.3 100.5 44.3 42.4 2.4 303.9 19.9 24.6 1071.4
To Date 10183.2 2629.4 1135.0 1692.0 50.5 8506.4 1624.9 264.6 28253.5
Year Ago 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
TERMINAL RECEIPTS
This Week 283.2 94.9 13.5 18.8 0.0 157.6 67.1 14.3 699.2
Week Ago 317.0 204.9 20.1 28.5 0.0 164.9 72.4 110.4 990.1
To Date 10278.2 2747.1 248.0 1069.3 14.8 4863.4 3983.1 784.5 25761.4
Year Ago 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
EXPORTS
This Week 192.3 170.6 27.0 13.6 0.4 138.4 83.7 50.2 748.0
Week Ago 427.2 181.7 31.8 74.1 0.9 189.6 211.6 149.6 1314.0
To Date 8438.7 2250.8 653.4 1010.1 30.3 4532.7 3006.4 836.7 22718.9
Year Ago 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1314.0
DOMESTIC DISAPPEARANCE
This Week 114.9 0.9 10.3 21.5 0.3 203.1 4.7 16.7 390.8
Week Ago 90.5 17.8 16.2 25.7 0.3 199.4 1.3 51.0 421.3
To Date 2269.9 286.8 386.2 609.5 18.2 4867.0 98.9 454.9 9909.9
Year Ago 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Source: MarketsFarm (news@marketsfarm.com)

WHEAT
General Comments: The markets were lower last week on what appeared to be mostly speculative selling. There weas not any real news for buyers. World Wheat demand has been strong, but there has not been much demand in world markets for US Wheat. Tensions remined high between Ukraine, the US, and Russia. The growing conditions in the US are very good. Reports of very beneficial rains for the Great Plains and Midwest and reports of steady to firm prices quoted in Russia and steady prices Argentina were around and helped keep the US market mostly steady in current ranges. Wheat farmers in the US planted the Winter crops under good conditions. Australia has seen too much rain recently that has downgraded Wheat quality, but Australia still has a very big crop to sell into world markets.
Overnight News:
Chart Analysis: Trends in Chicago are mixed. Support is at 528, 522, and 516 March, with resistance at 554, 561, and 569 March. Trends in Kansas City are mixed. Support is at 535, 528, and 520 March, with resistance at 560, 566, and 571 March. Trends in Minneapolis are down. Support is at 572, 566, and 560 March, and resistance is at 589, 592, and 601 March.

RICE:
General Comments: Rice closed lower last week in some light volume speculative selling. Commercials and speculators seemed to be on both sides of the market, but speculators seemed to be the better sellers. The trends are mixed on the daily charts but down on the weekly charts. Generally weak Asian prices are still reported. Brazil prices remain strong and well above US prices, but the difference is now less to world buyers as the Real is much lower against the US Dollar.
Overnight News:
Chart Analysis: Trends are mixed. Support is at 1391, 1382 and 1372 March and resistance is at 1423, 1454, and 1474 March.

CORN AND OATS
General Comments: Corn closed a little lower last week, with much of the selling coming on Friday. It looked like the bulls were taking some profits and some producers were selling as well. The export sales report from USDA showed a big reduction in demand and many think that this could become a feature for the market. The export demand in recent weeks has been very strong and it seems like some of the buying is in anticipation of the new presidential regime starting here in January. President Trump has promised new tariffs on goods and services and some buyers may be making purchases now to avoid the potential for the tariff later. It is about to turn very cold in the Midwest so it will get harder for Corn buyers to convince farmers to sell. Oats were a little lower.
Overnight News:
Chart Analysis: Trends in Corn are mixed to down. Support is at 448, 441, and 436 March, and resistance is at 460, 464, and 470 March. Trends in Oats are mixed. Support is at 320, 313, and 398 March, and resistance is at 335, 339, and 350 March.

SOYBEANS
General Comments: Soybeans closed about unchanged and the products closed a little lower last week. Supplies are very large now and look to get even bigger with the coming South American harvest. Talk that President Trump wants to stop the use of bio fuels as part of his war on the green economy hurt demand ideas for Soybean Oil. The tariffs that Trump plans to impose could be a detriment to sales of all products. Brazil looks to produce much more than a year ago and some estimates range as high as 175 million tons for the country. Brazilian farmers have planted what is expected to be a very big crop in central and northern areas of the country. Warm and dry weather in the Midwest last year has hurt US production ideas due to ideas of small and very dry beans in the pods. Demand has been very strong so far this year, in part as many buyers try to get bought ahead of any new tariffs that the Trump administration might impose. And are getting cheaper Soybeans from Brazil. Supplies are very large and ending stocks projections for the USDA WASDE reports are a burden for prices. However, farmers are not selling for tax reasons and now due to the very cold weather that will be seen in the Midwest over the next couple of weeks.
Overnight News:
Analysis: Trends in Soybeans are mixed to up. Support is at 987, 972, and 969 March, and resistance is at 1015, 1024, and 1032 March. Trends in Soybean Meal are mixed. Support is at 306.00, 302.00, and 297.00 March, and resistance is at 315.00, 321.00, and 326.00 March. Trends in Soybean Oil are mixed. Support is at 3900, 3840, and 3780 March, with resistance at 4100, 4160, and 4260 March.

PALM OIL AND CANOLA
General Comments: Palm Oil was lower last week on uncertainty about the bio fuels program in Indonesia. That country wants to use a blend of 40% of Plam Oil in its gasoline mixtures, but this has proved to be expensive and might need to be reduced and allow for increased exports. Demand from China has not been good and demand from India has been reduced. Ideas of weaker production caused by too much rain and reports of good demand provided support. Chart trends are down. Canola was higher. The charts show that a low has been completed and a new uptrend could be underway. The harvest is over in Canada and the crops are locked away in the bin. Producers will try to wait for higher prices before selling much, especially with the cold weather in place now.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 610.00, 601.00, and 592.00 March, with resistance at 626.00, 632.00, and 640.00 March. Trends in Palm Oil are mixed to down. Support is at 4290, 4170, and 4070 March, with resistance at 4570, 4650, and 4770 March.

Midwest Weather Forecast Significant precipitation in central areas. Temperatures should average below normal.

DJ Malaysian PM Cash Market Prices for Palm Oil – Jan 6
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Monday, supplied by commodity broker Matthes & Porton Bhd.
Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgit a ton. Palm kernel oil prices are in ringgit a pikul, a Malaysian measurement equivalent to 60 kilograms.
Offer Change Bid Change Traded
Jan 1110.00 -15.00 Unquoted – –
Feb 1070.00 -35.00 Unquoted – –
Mar 1070.00 -25.00 Unquoted – –
Apr/May/Jun 980.00 -10.00 Unquoted – –
Jul/Aug/Sep 965.00 -07.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 1115.00 -15.00 Unquoted – –
Feb 1075.00 -35.00 Unquoted – –
Mar 1075.00 -25.00 Unquoted – –
Apr/May/Jun 985.00 -10.00 Unquoted – –
Jul/Aug/Sep 970.00 -07.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jan 1120.00 -15.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jan 975.00 -07.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 4,730.00 -70.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jan 477.00 -03.00 Unquoted – –
($1=MYR4.5115)

DJ China Dalian Grain Futures Closing Prices, Volume – Jan 06
Soybean No. 1
Turnover: 191,014 lots, or .74 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-25 3,834 3,834 3,788 3,788 3,834 3,821 -13 598 2,951
Mar-25 3,840 3,846 3,805 3,818 3,858 3,825 -33 18,527 45,694
May-25 3,910 3,919 3,873 3,892 3,928 3,895 -33 152,269 176,065
Jul-25 3,936 3,939 3,895 3,913 3,948 3,917 -31 12,457 19,519
Sep-25 3,954 3,963 3,916 3,938 3,971 3,939 -32 4,447 16,373
Nov-25 3,948 3,952 3,901 3,933 3,956 3,930 -26 2,716 5,031
Corn
Turnover: 790,521 lots, or 17.51 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-25 2,099 2,100 2,089 2,100 2,093 2,096 3 367 11,884
Mar-25 2,131 2,143 2,122 2,141 2,130 2,134 4 104,693 496,762
May-25 2,224 2,235 2,209 2,228 2,227 2,223 -4 600,308 1,176,272
Jul-25 2,258 2,263 2,239 2,258 2,255 2,253 -2 46,942 256,551
Sep-25 2,278 2,285 2,262 2,280 2,277 2,276 -1 28,176 61,885
Nov-25 2,229 2,233 2,209 2,226 2,228 2,222 -6 10,035 44,507
Soymeal
Turnover: 2,422,236 lots, or 65.74 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-25 2,860 2,871 2,840 2,871 2,869 2,861 -8 462 7,844
Mar-25 2,863 2,890 2,831 2,873 2,883 2,864 -19 79,754 355,522
May-25 2,678 2,712 2,652 2,697 2,703 2,683 -20 1,892,896 2,266,318
Jul-25 2,660 2,688 2,635 2,678 2,686 2,664 -22 63,249 273,854
Aug-25 2,811 2,850 2,794 2,839 2,833 2,825 -8 25,270 150,907
Sep-25 2,818 2,860 2,803 2,850 2,840 2,833 -7 297,036 890,750
Nov-25 2,845 2,882 2,824 2,870 2,861 2,855 -6 44,238 192,521
Dec-25 2,915 2,958 2,900 2,934 2,930 2,932 2 19,331 39,357
Palm Oil
Turnover: 1,127,282 lots, or 96.55 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-25 9,538 10,028 9,538 9,890 9,520 9,894 374 283 1,010
Feb-25 9,380 9,470 9,320 9,336 9,320 9,384 64 26,552 21,591
Mar-25 9,032 9,124 8,934 8,956 8,968 9,038 70 11,772 15,108
Apr-25 8,750 8,860 8,628 8,664 8,696 8,710 14 1,264 1,486
May-25 8,540 8,646 8,478 8,484 8,482 8,556 74 1,039,802 469,855
Jun-25 8,350 8,456 8,302 8,304 8,332 8,372 40 210 620
Jul-25 8,246 8,336 8,184 8,190 8,228 8,252 24 140 627
Aug-25 8,200 8,260 8,128 8,128 8,174 8,188 14 44 171
Sep-25 8,136 8,216 8,092 8,094 8,128 8,150 22 47,074 81,136
Oct-25 8,084 8,170 8,044 8,054 8,094 8,106 12 79 455
Nov-25 8,088 8,150 8,032 8,034 8,076 8,080 4 45 233
Dec-25 8,078 8,142 8,026 8,026 8,058 8,106 48 17 113
Soybean Oil
Turnover: 496,569 lots, or 37.67 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-25 – – – 7,680 7,680 7,680 0 0 1,524
Mar-25 7,680 7,736 7,616 7,620 7,742 7,658 -84 5,980 22,846
May-25 7,600 7,658 7,552 7,560 7,670 7,590 -80 444,319 667,454
Jul-25 7,532 7,586 7,494 7,502 7,602 7,522 -80 1,900 7,250
Aug-25 7,562 7,582 7,520 7,520 7,642 7,534 -108 155 581
Sep-25 7,554 7,594 7,480 7,484 7,612 7,530 -82 43,950 127,240
Nov-25 7,574 7,600 7,510 7,518 7,640 7,532 -108 263 1,103
Dec-25 7,600 7,600 7,600 7,600 7,646 7,600 -46 2 38
Notes:
1) Unit is Chinese yuan a metric ton;
2) Ch. is day’s settlement minus previous settlement;
3) Volume and open interest are in lots;
4) One lot is equivalent to 10 metric tons.

Questions? Ask Jack Scoville today at 312-264-4322