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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 10/31/2025

By Jack Scoville On October 31, 2025 - 10:09 AM · In Market Commentaries, Morning Grains & Softs Report

WHEAT

General Comments: Wheat closed lower yesterday in reaction to news that the government has found a way to a deal with many Southeast Asian countries, including China that did not include any purchases of Wheat. World prices were lower as well. 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 have increased due primarily to reports of big yields in Spring Wheat growing areas. Rains have been good in the northern Great Plains and Canada. It has turned cooler in the Great Plains. Southern hemisphere crops appear to be good.

Overnight News:

Chart Analysis: Trends in Chicago are up. Support is at 515, 505, and 498 December, with resistance at 537, 543, and 553 December. Trends in Kansas City are mixed. Support is at 505, 494, and 483 December, with resistance at 526, 531, and 545 December. Trends in Minneapolis are not available.

RICE:

General Comments Rice was higher yesterday with buying coming from ideas that the market is too cheap and that farmers have sold what needs to be sold for now and selling coming from news that the US and many Southeast Asia countries including China have come to trade deals that do not include Rice this week. The recent selling has been to be relentless and appears tied to the weaker prices in Asia and especially India. Trends are down in the market. The harvest is wrapping up in Texas and southern Louisiana. Harvest is now wrapping up in Mississippi and Arkansas. California is also about done with its harvest. 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.

Overnight News:

Chart Analysis: Trends are mixed. Support is at 987, 974, and 962 November and resistance is at 1057, 1098, and 1126 November.

CORN AND OATS

General Comments: Corn was a little lower yesterday on news that the US government has made trade deals with many Southeast Asia nations including China that apparently did not include anything for Corn demand. Ethanol demand ideas were hurt as Crude Oil futures were lower. Trends are sideways to up in the market. Most USDA reports are cancelled as the government is still closed. The harvest is active in all areas of the Midwest. 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 normal this week and there are forecasts for mostly dry conditions. Most of the Midwest has seen adequate or greater precipitation. Demand for Corn in world markets remains moderate to strong. Oats were lower.

Overnight News:

Chart Analysis: Trends in Corn are mixed to up. Support is at 427, 425, and 419 December, and resistance is at 442, 450, and 456 December. Trends in Oats are down. Support is at 270, 267, and 264 December, and resistance is at 298, 304, and 310 December.

SOYBEANS

General Comments: Soybeans and Soybean Meal were higher yesterday after President Trump met with Xi of China and cut a deal with the Chinese that Trump claims will result in Chinese purchases of 12 million tons of Soybeans this year and 25 million tons per year for the next three years. Soybean Oil was lower. Wire reports yesterday indicated that China bought 3 cargoes of Soybeans in the last couple of days. The US has concluded The amount seems very high as China ia almost done with purchases for this year and as the US will have to compete with South America for sales in a diminishing Chinese market. The Chinese hog herd is being reduced and this means less demand for Soybeans and Soybean Meal. The US has closed trade deals with many Southeast Asian nations this week, including Vietnam, Thailand, and Cambodia. Malaysia also cut aa deal on Cocoa trade with the US. The US government has announced that it will support farmers with money, but so far no money has been flowing. Forecasts call for dry conditions to be seen in the Midwest the coming week. Temperatures will average near normal. 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 up. Support is at 1063, 1052, and 1045 November, and resistance is at 1102, 1112, and 1124 November. Trends in Soybean Meal are up. Support is at 300.00, 295.00, and 290.00 December, and resistance is at 317.00, 319.00, and 322.00 December. Trends in Soybean Oil are mixed. Support is at 4920, 4890, and 4770 December, with resistance at 5180, 5220, and 5390 December.

PALM OIL AND CANOLA

General Comments: Palm Oil futures were a little higher today on short covering. The market sentiment overall is turning bearish on ideas of increasing stocks to the market and on some concerns about Indian demand Canola was a little higher again as Canada and China agreed to negotiate trade issues that have included a ban on imports of Canadian Canola by China. Trends are mixed on the daily charts and on the weekly charts.

s. Overnight News:

Chart Analysis: Trends in Canola are mixed. Support is at 612.00, 608.00, and 597.00 November, with resistance at 630.00, 640.00, and 644.00 November. Trends in Palm Oil are mixed to down. Support is at 4240, 4210, and 4150 January, with resistance at 4410, 4490, and 4570 January.

DJ Canadian oilseeds monthly crush – September 2025

Winnipeg — Crushing statistics of major oilseeds in Canada

for September 2025, reported by Statistics Canada.

Citing confidentiality requirements under the Statistics Act,

StatCan’s September crush report did not have any data for

soybeans, as with its previous July report.

The crush data is as follows. Figures are in metric tonnes.

Year Ago 2025/26 2024/25

Canola Sept 2025 Sept 2024 To Date To Date

Seed crushed 867,944 850,529 1,875,333 850,529

Oil produced 367,299 363,165 792,629 363,165

Meal produced 514,942 494,028 494,028 494,028

Soybeans

Seed crushed n/a 79,465 n/a 149,774

Oil produced n/a 14,989 n/a 27,684

Meal produced n/a 62,767 n/a 118,359

Source: MarketsFarm (news@marketsfarm.com)

DJ Malaysian PM Cash Market Prices for Palm Oil – Oct 30

The following are prices for Malaysian palm oil in the cash market at 1000 GMT Thursday, 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

Nov 1050.00 00.00 Unquoted – –

Dec 1052.50 00.00 Unquoted – –

Jan/Feb/Mar 1060.00 00.00 Unquoted – –

Apr/May/Jun 1057.50 -02.50 Unquoted – –

RBD palm olein, FOB, Malaysian ports

Offer Change Bid Change Traded

Nov 1055.00 00.00 Unquoted – –

Dec 1057.50 00.00 Unquoted – –

Jan/Feb/Mar 1065.00 00.00 Unquoted – –

Apr/May/Jun 1062.50 -02.50 Unquoted – –

RBD palm stearin, FOB, Malaysian ports

Offer Change Bid Change Traded

Nov 1032.50 -07.50 Unquoted – –

Palm Fatty Acid Distillate, FOB Malaysian ports

Offer Change Bid Change Traded

Nov 1025.00 00.00 Unquoted – –

Crude palm oil, Delivered Basis, South Malaysia

Offer Change Bid Change Traded

Nov 4,260.00 00.00 Unquoted – –

Palm kernel oil, Delivered Basis, South Malaysia

Offer Change Bid Change Traded

Nov 459.00 -02.00 Unquoted – –

($1=MYR4.198)

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.

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)

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

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