
Jack Scoville
Jack Scoville is an often quoted market analyst in the grain and soft commodities sectors. You will find his commentary throughout the Reuters, Wall Street Journal, Dow Jones, Bloomberg, and Barron's publications. Contact Mr. Scoville at (312) 264-4322
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Grains Report 09/30/2025
DJ USDA Report: Recap for U.S. Grain Stocks, Small Grains
The following table of analysts’ estimates is provided as a service to The Wall Street Journal subscribers in conjunction with the U.S. Department of Agriculture’s Grain Stocks and Small Grains reports scheduled for release at noon ET on Tuesday.
U.S. Stockpiles on Sept. 1, 2025 (million bushels) USDA USDA
Average Range June 2025 Sept. 2024
Corn 1,336 1,260-1,450 4,644 1,763
Soybeans 322 295-347 1,008 342
Wheat 2,041 1,954-2,090 851 1,992
***
2025 Wheat Production
USDA USDA
Average Range August 2024
All Wheat 1,925 1,898-1,970 1,927 1,971
Winter Wheat 1,343 1,245-1,375 1,355 1,349
Hard Red Winter 768 758-781 769 770
Soft Red Winter 349 335-475 339 342
White Winter 256 235-368 247 236
Other Spring 484 470-506 484 542
Durum 85 79-89 87 80
DJ USDA Grain Inspections for Export in Metric Tons – Sep 29
WA_GR101
Washington, DC Mon Sep 29, 2025 USDA Market News
COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.
INFORMATION CONTAINED IN THIS REPORT REFLECTS EXPORTED GRAIN INSPECTED AND WEIGHED
THROUGH THE AUTHORITY UNDER THE U.S. GRAIN STANDARDS ACT. NO ADDITIONAL ANALYSIS,
COMPILATIONS OR DATA IS AVAILABLE
GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT
REPORTED IN WEEK ENDING SEP 25, 2025
— METRIC TONS —
————————————————————————-
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 09/25/2025 09/18/2025 09/26/2024 TO DATE TO DATE
BARLEY 0 171 0 4,019 4,798
CORN 1,527,145 1,385,966 1,149,524 5,096,691 3,350,733
FLAXSEED 24 0 0 240 192
MIXED 0 0 0 0 0
OATS 0 0 0 2,793 148
RYE 0 0 0 0 0
SORGHUM 538 30,601 180,174 67,139 332,891
SOYBEANS 593,956 565,630 683,341 2,246,104 1,929,770
SUNFLOWER 0 0 0 0 0
WHEAT 738,604 939,803 551,817 9,537,211 8,284,498
Total 2,860,267 2,922,171 2,564,856 16,954,197 13,903,030
CROP MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND
FLAXSEED; SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.
INCLUDES WATERWAY SHIPMENTS TO CANADA
DJ CBOT Delivery Intentions: Totals – Sep 30
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL October Oct 01, 2025 33 Aug 12, 2025
SOYBEAN OIL October Oct 01, 2025 454 Sep 08, 2025
This Week Last Week Last Year Average
Cotton Bolls Opening 67 60 71 69
Cotton Harvested 16 12 18 16
Corn Dented 95 91 95 96
Corn Mature 71 56 73 74
Corn Harvested 18 11 20 19
Soybeans Dropping Leaves 79 61 79 77
Soybeans Harvested 19 9 24 20
Sorghum Coloring 93 89 95 95
Sorghum Mature 61 52 68 65
Sorghum Harvested 28 25 34 32
Peanuts Harvested 17 8 10 13
Sugarbeets Harvested 15 12 15 17
Sunflowers Harvested 1 0 0 1
Rice Harvested 77 61 77 67
Winter Wheat Planted 34 20 37 36
Winter Wheat Emerged 13 4 13 12
Very Poor Poor Fair Good Excellent
Cotton This Week 5 12 36 37 10
Cotton Last Week 6 12 35 37 10
Cotton Last Year 17 20 32 27 4
Corn This Week 3 7 24 49 17
Corn Last Week 3 7 24 49 17
Corn Last Year 4 8 24 49 15
Soybeans This Week 3 8 27 49 13
Soybeans Last Week 4 8 27 48 13
Soybeans Last Year 3 8 25 52 12
Sorghum This Week 3 7 26 46 18
Sorghum Last Week 3 7 26 46 18
Sorghum Last Year 8 15 32 37 8
Peanuts This Week 2 11 32 47 eight
Peanuts Last Week 3 11 31 48 9
Peanuts Last Year 3 8 37 47 5
Pastures and Ranges This Week 12 23 33 25 7
Pastures and Ranges Last Week 13 23 30 26 8
Pastures and Ranges Last Year 18 25 31 21 5
WHEAT
General Comments: Wheat closed a little higher yesterday on reports of stronger Russian prices. Russian sources told wire services that producers there are set to reduce offers and production due to low prices and problems with the government. This now seems to be happening. Sovecon reduced its export estimate for Russia for the first time after increasing it in previous reports. It remains too dry in Winter Wheat areas and too wet in Spring Wheat areas of Russia, but crop size ideas are expected to increase due to reports of big yields in Spring Wheat growing areas. A French government report showed plenty of production but lower quality. Rains have been good in the northern Great Plains and Canada, but western areas have been a little too dry for best yield potential and the northern Plains had hot and dry areas earlier in the year. Southern hemisphere crops appear to be good and Australia estimates that production this year will be high and potentially a record.
Overnight News:
Chart Analysis: Trends in Chicago are mixed. Support is at 505, 499 and 493 December, with resistance at 532, 535, and 543 December. Trends in Kansas City are mixed. Support is at 496, 490, and 484 December, with resistance at 520, 523, and 529 December. Trends in Minneapolis are not available.
RICE:
General Comments Rice was higher. The market remained in a trading range. The harvest is wrapping up in Texas and southern Louisiana. Harvest is active in Mississippi and Arkansas. Yields and quality are mixed, but quality appears better than a year ago. Chart trends are mixed on the charts. The cash market has been slow with low bids from buyers in domestic markets and average or less export demand. Louisiana reports good but not great yields and quality. Milling quality of the old crop Rice remains below industry standards and it takes more Rough Rice to create the grain for sale to stores and exporters.
Overnight News:
Chart Analysis: Trends are mixed. Support is at 1112, 1100, and 1088 November and resistance is at 1168, 1181, and 1201 November.
CORN AND OATS
General Comments: Corn was a little lower yesterday as the coming harvest outweighed strong demand ideas. Trends are mixed as the crop is maturing and the harvest is starting to expand. There are ideas that US production might not be super strong due to disease such as rust to offset the demand losses. Temperatures should average near to below normal this week and there are forecasts for scattered showers. Most of the western Midwest has seen adequate or greater precipitation and production ideas are high. Areas east of the Mississippi River have been very dry for the last month or more. Demand for Corn in world markets remains moderate to strong. Oats were lower.
Overnight News:
Chart Analysis: Trends in Corn are mixed to down. Support is at 417, 414, and 411 December, and resistance is at 431, 434, and 442 December. Trends in Oats are down. Support is at 301, 295, and 289 December, and resistance is at 316, 320, and 324 December.
SOYBEANS
General Comments: Soybeans and the products were mostly lower yesterday in anticipation of a US government shutdown and on ideas of weak demand against strong production. Deferred months in Soybean Meal were higher. There are still no indications that China was changing its trade policies. Forecasts call for no rain to be seen in the Midwest this week. Cool and dry weather has been seen recently in the Midwest. The dry weather could hurt pod fill and bean size. Argentina has removed taxes on Soybeans exports and China immediately bought up to 40 cargoes. China has not bought US Soybeans yet and traders are worried that demand for the new crop will be a lot less this year. Good growing conditions continue in the Midwest with cool and mostly dry weather in the forecast. Prices are still higher in Brazil, but China and other buyers are still buying there for political reasons. Export demand remains less for US Soybeans as China has been taking almost all the export from South America due to the Trump tariff regime.
Overnight News:
Analysis: Trends in Soybeans are down. Support is at 1002, 995, and 981 November, and resistance is at 1024, 1029, and 1036 November. Trends in Soybean Meal are mixed to down. Support is at 266.00, 263.00, and 260.00 October, and resistance is at 272.00, 277.00, and 279.00 October. Trends in Soybean Oil are down. Support is at 4840, 4740, and 4680 October, with resistance at 5070, 5110, and 5170 October.
PALM OIL AND CANOLA
General Comments: Palm Oil futures were lower yesterday despite reports of weaker production and strong export demand. Amspec showed increased exports for the month, but trader are looking at a stronger Ringgit and wondering if the demand can last. Canola was lower with Chicago Soybean Oil and on harvest selling. Concerns remain about demand potential. The Canadian government is moving now to support farmers in the face of the Chinese demand loss and also in the face of the Trump tariffs. Trends are mixed to down on the daily charts and on the weekly charts.
Overnight News:
Chart Analysis: Trends in Canola are down. Support is at 602.00, 596.00, and 590.00 November, with resistance at 630.00, 640.00, and 653.00 November. Trends in Palm Oil are mixed to down. Support is at 4320, 4200, and 4160 December, with resistance at 4480, 4530, and 4580 December.
DJ Malaysian PM Cash Market Prices for Palm Oil – Sep 30
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Tuesday, 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
Oct 1060.00 -07.50 Unquoted – –
Nov 1070.00 -10.00 Unquoted – –
Dec 1075.00 -12.50 Unquoted – –
Jan/Feb/Mar 1080.00 -10.00 Unquoted – –
Apr/May/Jun 1070.00 -05.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Oct 1065.00 -07.50 Unquoted – –
Nov 1075.00 -10.00 Unquoted – –
Dec 1080.00 -12.50 Unquoted – –
Jan/Feb/Mar 1085.00 -10.00 Unquoted – –
Apr/May/Jun 1075.00 -05.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Oct 1052.50 -07.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Oct 1027.50 +02.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Oct 4,340.00 -10.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Oct 468.00 -06.00 Unquoted – –
($1=MYR4.2065)
DJ Malaysian PM Cash Market Prices for Palm Oil – March 28
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Friday, 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
Apr 1135.00 +15.00 Unquoted – –
Apr/May/Jun 1092.50 +20.00 Unquoted – –
Jul/Aug/Sep 1012.50 +17.50 Unquoted – –
Oct/Nov/Dec 1002.50 +15.00 Unquoted – –
Jan/Feb/Mar 1007.50 +12.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Apr 1140.00 +15.00 Unquoted – –
Apr/May/Jun 1097.50 +20.00 Unquoted – –
Jul/Aug/Sep 1017.50 +17.50 Unquoted – –
Oct/Nov/Dec 1007.50 +15.00 Unquoted – –
Jan/Feb/Mar 1012.50 +12.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Apr 1112.50 +20.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Apr 1070.00 +15.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Apr 4,830.00 +70.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Apr 494.00 +07.00 Unquoted – –
($1=MYR4.4363)
(END) Dow Jones Newswires
03-28-25 0623ET
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