Grains Report 04/30/2025

DJ CBOT Delivery Intentions: Totals – Apr 30
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL May May 01, 2025 629 Apr 24, 2025
SOYBEAN OIL May May 01, 2025 852 Apr 24, 2025
ROUGH RICE May May 01, 2025 240 Apr 14, 2025
CORN May May 01, 2025 25 Nov 27, 2024
KC HRW WHEAT May May 01, 2025 430 Apr 14, 2025
SOYBEAN May May 01, 2025 3 Jan 23, 2025
WHEAT May May 01, 2025 88 Apr 10, 2025

WHEAT
General Comments: All three markets closed lower again yesterday in Chicago, but higher in Minneapolis as the reports of and forecasts for showers in western growing areas. Crops in the Great Plains are reported to be in good condition. Rain has become much less in the southern Midwest and Mid South. Chart trends are mixed in Winter Wheat markets and in Minneapolis. Traders keep talking about a tight market as a reason to support prices, but enough Wheat has always been available to the market and demand for US Wheat in export markets has been poor. Dry outlooks for the Black Sea regions are still a main feature. Overall demand for world Wheat has been weak.
Overnight News:
Chart Analysis: Trends in Chicago are down. Support is at 506, 500, and 494 May, with resistance at 518, 521, and 526 May. Trends in Kansas City are down. Support is at 512, 506, and 500 May, with resistance at 521, 536, and 544 May. Trends in Minneapolis are mixed. Support is at 593, 579, and 573 May, and resistance is at 614, 618, and 624 May.

RICE:
General Comments: Rice closed lower yesterday on renewed speculative selling, but futures made a nice recovery after the initial dive in prices. The cash market has been slow with mostly quiet domestic markets and average export demand. Export sales have not been strong, and domestic demand is not strong enough right now to bid prices any higher. Milling quality of the Rice remains below industry standards and it takes more Rough Rice to create the grain for sale to stores and exporters. Rice is planted in southern growing areas now and is about half done farther to the north.
Overnight News:
Chart Analysis: Trends are down. Support is at 1191, 1176, and 1164 May and resistance is at 1323, 1338, and 1359 May.

CORN AND OATS
General Comments: Corn closed lower yesterday as the market reacted to better planting weather in the Midwest. President Trump keeps talking about cutting deals on the tariffs, but nothing has been announced yet. Demand for Corn in domestic and world markets remains strong with sales of well above 1.0 million tons in the latest reporting week. It is dry in growing areas in western US, but most of the Midwest has had precipitation lately and eastern and southern areas are drying out after being too wet. It has become warmer in much of the Midwest and planting progress is expected to be much improved this week, but rain remains in the forecast. Oats were higher, and the trends are mixed in this market.
Overnight News: Unknown desxtinations bought 120,000 tons of US Corn.
Chart Analysis: Trends in Corn are mixed to up. Support is at 461, 454, and 448 May, and resistance is at 481, 492, and 500 May. Trends in Oats are mixed to up. Support is at 371, 361, and 352 May, and resistance is at 385, 389, and 395 May.

SOYBEANS
General Comments: Soybeans and Soybean Oil were lower yesterday, and Soybean Meal closed higher in correction trading. The reports of demand have remained solid for US Soybeans as China has been taking almost all the export from South America. Deferred months were lower as the weather is forecast to be much better for planting after this week. Warmer temperatures are expected this weekend.
Overnight News
Analysis: Trends in Soybeans are mixed. Support is at 1028, 1011, and 991 May, and resistance is at 1058, 1067, and 1073 May. Trends in Soybean Meal are mixed to up. Support is at 286.00, 280.00, and 277.00 May, and resistance is at 295.00, 299.00, and 302.00 May. Trends in Soybean Oil are mixed to up. Support is at 4740, 4580, and 4440 May, with resistance at 5070, 5100, and 5150 May.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were lower today on additional speculative selling. There is talk of reduced supplies in the market. Chart trends are mixed. Canola was mixed yesterday and traded at new highs for the move early in the session. Trends are still up on the daily charts and weekly charts. Canadian goods were exempted from the new round of tariffs but still must deal with the tariffs previously imposed by the US. The weather has generally been good for planting in the Prairies but it is too dry in some areas.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 671.00, 655.00, and 645.00 May, with resistance at 703.00, 708.00, and 714.00 May. Trends in Palm Oil are mixed to down. Support is at 3910, 3790, and 3870 June, with resistance at 4130, 4230, and 4280 June.

Midwest Weather Forecast Mostly dry conditions today. Temperatures should average near to below normal.

DJ Malaysian PM Cash Market Prices for Palm Oil – April 30
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Wednesday, supplied by commodity broker Matthes & Porton Bhd.
Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgit a ton. Palm kernel oil prices are in ringgit a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports
Offer Change Bid Change Traded
May 980.00 -07.50 Unquoted – –
Jun 972.50 -02.50 Unquoted – –
Jul/Aug/Sep 960.00 00.00 Unquoted – –
Oct/Nov/Dec 962.50 00.00 Unquoted – –
Jan/Feb/Mar 970.00 -02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
May 985.00 -07.50 Unquoted – –
Jun 977.50 -02.50 Unquoted – –
Jul/Aug/Sep 965.00 00.00 Unquoted – –
Oct/Nov/Dec 967.50 00.00 Unquoted – –
Jan/Feb/Mar 975.00 -02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
May 960.00 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
May 930.00 00.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 4,080.00 -20.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
May 470.00 -02.00 Unquoted – –
($1=MYR4.313)

DJ China Dalian Grain Futures Closing Prices, Volume – Apr 30
Soybean No. 1
Turnover: 231,670 lots, or 9.69 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-25 4,119 4,169 4,119 4,158 4,148 4,147 -1 5,745 7,773
Jul-25 4,168 4,206 4,161 4,188 4,180 4,182 2 154,078 153,530
Sep-25 4,186 4,218 4,175 4,202 4,198 4,197 -1 60,535 93,202
Nov-25 4,112 4,138 4,107 4,126 4,128 4,121 -7 7,609 39,678
Jan-26 4,118 4,135 4,103 4,120 4,126 4,120 -6 1,699 5,102
Mar-26 4,119 4,138 4,108 4,124 4,132 4,124 -8 2,004 2,659
Corn
Turnover: 849,940 lots, or 20.07 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-25 2,318 2,336 2,314 2,336 2,318 2,322 4 47,858 140,976
Jul-25 2,358 2,379 2,355 2,377 2,360 2,365 5 635,254 1,490,492
Sep-25 2,382 2,392 2,375 2,392 2,380 2,381 1 108,437 362,520
Nov-25 2,313 2,331 2,313 2,331 2,314 2,320 6 27,591 190,472
Jan-26 2,290 2,299 2,290 2,297 2,294 2,294 0 15,280 54,203
Mar-26 2,290 2,300 2,288 2,296 2,293 2,293 0 15,520 21,366
Soymeal
Turnover: 2,048,935 lots, or 59.94 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-25 2,830 2,857 2,745 2,761 2,855 2,808 -47 121,497 25,574
Jul-25 2,813 2,824 2,766 2,769 2,827 2,795 -32 212,540 544,448
Aug-25 2,944 2,957 2,905 2,907 2,964 2,931 -33 20,494 177,322
Sep-25 2,961 2,970 2,918 2,920 2,977 2,945 -32 1,479,625 2,453,947
Nov-25 2,991 2,999 2,948 2,950 3,008 2,976 -32 36,989 282,588
Dec-25 3,019 3,031 2,980 2,982 3,031 3,003 -28 12,291 80,515
Jan-26 3,004 3,015 2,963 2,967 3,015 2,990 -25 149,289 522,987
Mar-26 2,889 2,896 2,852 2,855 2,894 2,874 -20 16,210 91,897
Palm Oil
Turnover: 535,876 lots, or 43.48 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-25 8,534 8,798 8,452 8,616 8,560 8,496 -64 4,864 579
Jun-25 8,402 8,440 8,354 8,426 8,434 8,398 -36 5,127 6,436
Jul-25 8,280 8,302 8,210 8,294 8,304 8,258 -46 3,352 8,925
Aug-25 8,186 8,218 8,150 8,218 8,228 8,178 -50 96 797
Sep-25 8,120 8,156 8,052 8,148 8,162 8,106 -56 504,163 346,968
Oct-25 8,112 8,122 8,050 8,122 8,142 8,096 -46 80 1,090
Nov-25 8,082 8,116 8,040 8,116 8,120 8,080 -40 57 759
Dec-25 8,086 8,114 8,036 8,114 8,128 8,080 -48 43 212
Jan-26 8,110 8,130 8,028 8,122 8,124 8,080 -44 18,060 74,192
Feb-26 8,092 8,116 8,054 8,116 8,110 8,072 -38 16 820
Mar-26 8,072 8,090 8,036 8,090 8,118 8,070 -48 17 95
Apr-26 8,100 8,100 8,100 8,100 8,120 8,100 -20 1 49
Soybean Oil
Turnover: 328,946 lots, or 25.64 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-25 7,868 7,998 7,860 7,982 7,894 7,884 -10 4,903 1,385
Jul-25 7,762 7,824 7,750 7,820 7,792 7,788 -4 6,940 20,162
Aug-25 7,782 7,834 7,764 7,830 7,812 7,798 -14 1,153 6,312
Sep-25 7,780 7,836 7,764 7,832 7,818 7,798 -20 286,750 581,982
Nov-25 7,806 7,850 7,796 7,850 7,836 7,818 -18 115 1,915
Dec-25 7,790 7,826 7,768 7,824 7,816 7,792 -24 89 217
Jan-26 7,714 7,774 7,704 7,770 7,748 7,738 -10 28,920 97,457
Mar-26 7,680 7,724 7,676 7,724 7,706 7,706 0 76 629
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;

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