Grains Report 07/16/2025

DJ CBOT Delivery Intentions: Totals – Jul 16
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN July Jul 16, 2025 1 Jul 14, 2025

WHEAT
General Comments: Wheat was mixed yesterday in choppy trading on ideas of solid harvest progress and good yields. USDA kept ending stocks levels close to trade estimates in the WASDE reports released on Friday. Yields were increased slightly but demand ideas were solid. Harvest conditions for Winter Wheat appears to be good in the US and Spring Wheat development is good. Rains have been good in the northern Greasy Plains but Canada has been a little too dry for best yield potential. Russia is still being watched for dry weather that could hurt yields and Ukraine is watched for the same reason and because of the war that could destroy some fields. Southern hemisphere crops appear to be good.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to up Support is at 535, 521 and 508 September, with resistance at 568, 572, and 582 September. Trends in Kansas City are mixed. Support is at 516, 504, and 498 September, with resistance at 550, 565, and 578 September. Trends in Minneapolis are not available.

RICE:
General Comments Rice was a little lower again yesterday in light volume trading. USDA decreased production estimates but also cut back on demand estimates in its monthly WASDE report. Ending stocks were up 0.6 million cwt to 3a4.6 million. Weaker Asian prices are still around and are still a drag on US futures. South America has been offering less volume and at lower prices. Chart trends are still mostly down on the daily charts. The cash market has been slow with mostly quiet domestic markets and average export demand. 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 heading in most growing areas now. Condition has been rated as good and the ratings by USDA are above last year.
Overnight News:
Chart Analysis: Trends are down. Support is at 1254, 1242, and 1230 September and resistance is at 1333, 1369, and 1392 September.

CORN AND OATS
General Comments: Corn was higher again yesterday on reported fund short covering. It was the only market to move higher yesterday. USDA on Friday cut its production estimated slightly but kept a year on year increase in ending stocks levels intact. The weather forecasts remained cooler this week. Reduced heat and some showers are expected in the Midwest this week, but temperatures could turn warmer this weekend with more wet weather possible early next week. A moderate drought is seen near the Chicago area, but the drought area is shrinking. The rest of the Midwest has seen adequate or greater precipitation. Demand for Corn in world markets remains strong. Oats were higher
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 390, 387, and 384 September, and resistance is at 406, 414, and 418 September. Trends in Oats are mixed to down. Support is at 360, 349, and 339 September, and resistance is at 383, 388, and 394 September.

SOYBEANS
General Comments: Soybeans and Soybean Meal were lower for one more day yesterday on good growing conditions in the Midwest. Soybean Oil was higher again. USDA on Friday made no important changes in the WASDE data but did modify production slightly based off of the acreage estimates from June. Lower priced offers from Brazil in the world market are still important to the US price action. The market could remain under pressure as Brazil basis levels have been under pressure the last few weeks and prices in world markets for Brazil Soybeans are now less than those from the US. Export demand is in its seasonal doldrums. Export demand remains less for US Soybeans as China has been taking almost all the export from South America.
Overnight News: Unknown destinaztions bought 120,000 tons of US Soybeans.
Analysis: Trends in Soybeans are down. Support is at 983, 970, and 958 August, and resistance is at 1017, 1025, and 1030 August. Trends in Soybean Meal are mixed to down. Support is at 265.00, 262.00, and 259.00 August, and resistance is at 276.00, 282.00, and 287.00 August. Trends in Soybean Oil are mixed. Support is at 5150, 5080, and 4920 August, with resistance at 5600, 5720, and 5840 August.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were higher today in sympathy with the price action in Soybean Oil. Ideas that current increased production levels mean higher inventories in MPOB monthly data are still around. Canola was higher. Trends are mixed to up on the daily charts and on the weekly charts. The weather has generally been dry for planting and crop development in the Prairies with warm and dry weather around lately.
Overnight News:
Chart Analysis: Trends in Canola are up. Support is at 683.00, 679.00, and 665.00 November, with resistance at 707.00, 717.00, and 738.00 November. Trends in Palm Oil are up. Support is at 4080, 4010, and 3960 September, with resistance at 4210, 4270, and 4310 September.

DJ Malaysian PM Cash Market Prices for Palm Oil – July 16
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
Jul 1020.00 +07.50 Unquoted – –
Aug 1020.00 +07.50 Unquoted – –
Sep 1022.50 +07.50 Unquoted – –
Oct/Nov/Dec 1025.00 +02.50 Unquoted – –
Jan/Feb/Mar 1030.00 +05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jul 1025.00 +07.50 Unquoted – –
Aug 1025.00 +07.50 Unquoted – –
Sep 1027.50 +07.50 Unquoted – –
Oct/Nov/Dec 1030.00 +02.50 Unquoted – –
Jan/Feb/Mar 1035.00 +05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jul 1000.00 +10.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jul 915.00 +12.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jul 4,170.00 +50.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jul 435.00 +15.00 Unquoted – –
($1=MYR4.243

DJ China Dalian Grain Futures Closing Prices, Volume – Jul 16
Soybean No. 1
Turnover: 169,223 lots, or 7.02 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 4,149 4,185 4,143 4,179 4,143 4,166 23 129,739 179,968
Nov-25 4,067 4,097 4,061 4,091 4,063 4,081 18 27,186 68,575
Jan-26 4,055 4,085 4,049 4,081 4,053 4,070 17 7,718 26,414
Mar-26 4,044 4,072 4,039 4,070 4,043 4,055 12 3,505 22,245
May-26 4,083 4,105 4,078 4,102 4,075 4,087 12 422 961
Jul-26 4,081 4,105 4,064 4,105 4,089 4,086 -3 653 204
Corn
Turnover: 463,826 lots, or 1.06 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 2,296 2,304 2,288 2,293 2,301 2,294 -7 373,438 1,054,601
Nov-25 2,268 2,273 2,261 2,264 2,270 2,266 -4 51,567 395,745
Jan-26 2,236 2,242 2,231 2,234 2,237 2,235 -2 22,585 145,435
Mar-26 2,241 2,246 2,237 2,239 2,241 2,240 -1 8,798 79,811
May-26 2,273 2,276 2,269 2,273 2,274 2,272 -2 3,163 26,480
Jul-26 2,280 2,289 2,279 2,281 2,286 2,283 -3 4,275 3,140
Soymeal
Turnover: 1,246,108 lots, or 36.96 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-25 2,969 2,970 2,947 2,952 2,967 2,956 -11 78,937 98,404
Sep-25 2,980 2,989 2,969 2,977 2,986 2,978 -8 750,376 1,942,504
Nov-25 3,020 3,028 3,008 3,016 3,024 3,017 -7 78,660 658,431
Dec-25 3,041 3,051 3,033 3,036 3,046 3,041 -5 19,472 128,199
Jan-26 3,016 3,024 3,006 3,011 3,019 3,013 -6 211,171 1,130,409
Mar-26 2,869 2,872 2,861 2,866 2,870 2,865 -5 31,855 391,272
May-26 2,703 2,705 2,697 2,700 2,702 2,700 -2 64,873 600,769
Jul-26 2,700 2,704 2,697 2,699 2,704 2,699 -5 10,764 16,147
Palm Oil
Turnover: 566,564 lots, or 49.39 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-25 8,758 8,798 8,672 8,722 8,768 8,740 -28 16,128 4,037
Sep-25 8,704 8,770 8,664 8,722 8,754 8,720 -34 493,411 502,077
Oct-25 8,710 8,762 8,662 8,722 8,732 8,714 -18 1,829 6,250
Nov-25 8,704 8,760 8,662 8,708 8,724 8,716 -8 295 1,403
Dec-25 8,700 8,754 8,672 8,710 8,732 8,712 -20 34 553
Jan-26 8,670 8,748 8,644 8,704 8,720 8,700 -20 52,691 164,071
Feb-26 8,680 8,680 8,680 8,680 8,692 8,680 -12 2 936
Mar-26 8,650 8,650 8,650 8,650 8,642 8,640 -2 3 293
Apr-26 – – – 8,586 8,586 8,586 0 2 109
May-26 8,478 8,626 8,426 8,490 8,500 8,490 -10 2,167 9,837
Jun-26 8,456 8,456 8,448 8,448 8,452 8,452 0 2 52
Jul-26 – – – 8,420 8,420 8,420 0 0 0
Soybean Oil
Turnover: 383,572 lots, or 3.07 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-25 8,034 8,062 8,008 8,020 8,016 8,028 12 8,311 5,985
Sep-25 8,020 8,064 7,998 8,042 8,012 8,032 20 293,908 529,177
Nov-25 8,016 8,058 8,004 8,046 8,010 8,030 20 642 7,169
Dec-25 8,042 8,070 8,020 8,060 8,030 8,044 14 69 1,547
Jan-26 7,968 8,022 7,966 8,000 7,964 7,992 28 71,600 321,314
Mar-26 7,862 7,882 7,852 7,880 7,860 7,864 4 15 1,164
May-26 7,638 7,676 7,626 7,654 7,636 7,648 12 9,018 37,437
Jul-26 7,650 7,650 7,620 7,646 7,584 7,636 52 9 12
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