About The Author

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

Visit Website →

Grains Report 10/15/2025

By On October 15, 2025 - 9:53 AM · In Market Commentaries, Morning Grains & Softs Report
DJ CBOT Delivery Intentions: Totals – Oct 15
Source: CME Group
               Contract                        Quantity   Next Trade
Commodity      Month      Delivery Day   Assigned Today   Date Available
SOYBEAN MEAL   October    Oct 16, 2025                8   Oct 14, 2025
SOYBEAN OIL    October    Oct 16, 2025               13   Oct 14, 2025
WHEAT
General Comments:   Wheat closed aa little higher after opening a little lower yesterday.  No USDA reports were released due to the government shutdown.  Russian crop areas remain too dry in Winter Wheat areas and too wet in Spring Wheat areas, 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.  It has been warm in the Great Plains so far this Fall.  Southern hemisphere crops appear to be good.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to down.  Support is at 492, 490 and 484 December, with resistance at 507, 513, and 518 December.  Trends in Kansas City are mixed.  Support is at 477, 472, and 466 December, with resistance at 496, 501, and 507 December. Trends in Minneapolis are not available.
RICE:
General Comments   Rice was higher in range trading again yesterday.  Trends are sideways in the market.  The harvest is wrapping up in Texas and southern Louisiana.  Harvest is now wrapping up in Mississippi and Arkansas.  Yields and quality are mixed, but quality appears better than a year ago.  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.
Overnight News:
Chart Analysis: Trends are mixed.  Support is at 1064, 1052, and 1040 November and resistance is at 1098, 1126, and 1145 November.
CORN AND OATS
General Comments: Corn was a little higher yesterday in sideways trading with the government still closed.  Most USDA reports are cancelled.  The harvest is expanding.  There are ideas that US production might not be super strong due to disease such as rust to offset the demand losses.  Yield reports are showing at or above APH yields in western areas, with very good crops reported in Minnesota.  Yields have been reported at or less than APH in areas east of the Mississippi River.  Temperatures should average near to above normal this week and there are forecasts for mostly dry conditions.  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.  Support is at 408, 405, and 402 December, and resistance is at 424, 428, and 431 December.  Trends in Oats are down.  Support is at 283, 277, and 271 December, and resistance is at 300, 308, and 311 December.
SOYBEANS
General Comments: Soybeans and the products were a little lower as the market heard that China has imposed new restrictions on the export of rare earth metals.  Chinese exporters now must register with the government and register sales.  It is another roadblock in the quest for a trade deal between the US and China.  President Trump said that he now has no plans to talk to President Xi of China about Chinese purchase of US Soybeans, and reports indicate that their meeting of the two leaders at the end of the month will be brief if the meeting happens at all.  Trump was more relaxed over the weekend and administration officials tried to be conciliatory.  China has shown no interest in buying US ag products.  Forecasts call for mostly dry conditions to be seen in the Midwest this and next week.  Temperatures will average near or above normal.  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 mixed to down.  Support is at 994, 981, and 970 November, and resistance is at 1021, 1030, and  1036 November.  Trends in Soybean Meal are mixed.  Support is at 271.00, 268.00, and 265.00 December, and resistance is at 282.00, 286.00, and 290.00 December.  Trends in Soybean Oil are mixed.  Support is at 4920, 4890, and 4770 December, with resistance at 5160, 5220, and 5390 December.
PALM OIL AND CANOLA
General Comments:   Palm Oil futures were higher today on news that Indonesia was considering increasing a tax on exports of Crude Palm Oil.   Canola was higher.  Trends are mixed on the daily charts and on the weekly charts.
Overnight News:
Chart Analysis: Trends in Canola are mixed.  Support is at 596.00, 590.00, and 584.00 November, with resistance at 625.00, 630.00, and 640.00 November.  Trends in Palm Oil are mixed to up.  Support is at 4450, 4390, and 4340 December, with resistance at 4580, 4620, and 4680 December.
DJ Malaysian PM Cash Market Prices for Palm Oil – Oct 15
  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
Oct          1085.00    +02.50      Unquoted   –        –
Nov          1087.50    +02.50      Unquoted   –        –
Dec          1097.50     00.00      Unquoted   –        –
Jan/Feb/Mar  1105.00    +02.50      Unquoted   –        –
Apr/May/Jun  1095.00    +07.50      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Oct           1090.00    +02.50      Unquoted   –        –
Nov           1092.50    +02.50      Unquoted   –        –
Dec           1102.50     00.00      Unquoted   –        –
Jan/Feb/Mar   1110.00    +02.50      Unquoted   –        –
Apr/May/Jun   1100.00    +07.50      Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Oct           1060.00    -07.50      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Oct           1035.00    -02.50      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Oct            4,430.00   +10.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Oct            470.00     +01.00      Unquoted   –        –
($1=MYR4.23)
DJ China Dalian Grain Futures Closing Prices, Volume – Oct 15
Soybean No. 1
Turnover: 225,594 lots, or 8.99 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Nov-25     3,946     3,984     3,946     3,981     3,957     3,969        12    76,559    73,527
Jan-26     3,973     4,007     3,967     3,999     3,969     3,988        19   133,179   186,875
Mar-26     3,974     4,008     3,974     3,999     3,972     3,992        20     8,984    39,985
May-26     4,012     4,042     4,012     4,032     4,011     4,026        15     2,982    10,282
Jul-26     4,013     4,041     4,012     4,030     4,012     4,025        13     3,719    12,807
Sep-26     4,013     4,039     4,013     4,033     4,011     4,026        15       171     1,027
Corn
Turnover: 843,483 lots, or 17.87 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Nov-25     2,093     2,108     2,090     2,101     2,087     2,097        10   390,193   440,077
Jan-26     2,109     2,127     2,109     2,127     2,105     2,119        14   307,920   697,057
Mar-26     2,142     2,157     2,139     2,157     2,131     2,148        17    88,320   341,401
May-26     2,200     2,218     2,200     2,218     2,198     2,208        10    38,063   146,983
Jul-26     2,218     2,232     2,217     2,232     2,214     2,223         9    17,455    61,852
Sep-26     2,235     2,247     2,234     2,247     2,230     2,238         8     1,532     2,672
Soymeal
Turnover: 1,127,363 lots, or 32.56 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol        Open
                                                  Settle                                  Interest
Nov-25     2,887     2,910     2,876     2,895     2,896     2,894        -2    66,283     211,544
Dec-25     2,921     2,946     2,915     2,932     2,936     2,930        -6     8,850     156,642
Jan-26     2,902     2,930     2,897     2,917     2,912     2,914         2   842,672   1,975,574
Mar-26     2,879     2,907     2,878     2,895     2,890     2,893         3    47,997     435,158
May-26     2,734     2,744     2,726     2,740     2,736     2,737         1   136,334   1,027,061
Jul-26     2,713     2,728     2,710     2,724     2,719     2,721         2    15,365     167,332
Aug-26     2,838     2,850     2,835     2,847     2,841     2,845         4     3,685      37,773
Sep-26     2,838     2,857     2,838     2,853     2,846     2,850         4     6,177      66,368
Palm Oil
Turnover: 505,523 lots, or 4.70 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Oct-25     9,118     9,122     9,118     9,122     9,184     9,120       -64         3       100
Nov-25     9,232     9,258     9,170     9,244     9,266     9,210       -56     6,189     8,334
Dec-25     9,248     9,316     9,212     9,270     9,314     9,262       -52     2,368     7,115
Jan-26     9,302     9,376     9,260     9,322     9,366     9,316       -50   448,936   353,041
Feb-26     9,326     9,376     9,286     9,322     9,358     9,330       -28       212     1,356
Mar-26     9,304     9,374     9,266     9,322     9,332     9,322       -10       256       880
Apr-26     9,264     9,344     9,260     9,290     9,312     9,290       -22        54       345
May-26     9,200     9,282     9,178     9,238     9,238     9,228       -10    46,866   121,461
Jun-26     9,120     9,154     9,120     9,142     9,108     9,142        34        14       130
Jul-26     9,036     9,080     9,036     9,054     9,012     9,056        44        13       182
Aug-26     8,982     8,994     8,940     8,978     8,956     8,976        20         5        58
Sep-26     8,838     8,932     8,834     8,910     8,884     8,896        12       607     2,195
Soybean Oil
Turnover: 258,651 lots, or 21.23 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Nov-25     8,220     8,280     8,212     8,254     8,272     8,246       -26     4,499    10,749
Dec-25     8,268     8,316     8,250     8,294     8,306     8,280       -26       586     8,226
Jan-26     8,224     8,282     8,210     8,252     8,270     8,244       -26   206,030   497,389
Mar-26     8,174     8,220     8,168     8,208     8,206     8,198        -8        97     1,620
May-26     8,012     8,072     7,996     8,050     8,040     8,040         0    46,040   238,469
Jul-26     7,940     8,008     7,940     8,000     7,980     7,982         2       121       673
Aug-26     7,944     8,004     7,944     8,004     7,966     7,968         2        28        82
Sep-26     7,886     7,972     7,882     7,972     7,924     7,946        22     1,250     2,476
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.
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
Copyright (c) 2025 Dow Jones & Company, Inc.
Questions? Ask Jack Scoville today at 312-264-4322        
Tagged with: • • • • • • •