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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 11/07/2025

By On November 7, 2025 - 9:22 AM · In Market Commentaries, Morning Grains & Softs Report
DJ CBOT Delivery Intentions: Totals – Nov 7
Source: CME Group
             Contract                        Quantity   Next Trade
Commodity    Month      Delivery Day   Assigned Today   Date Available
ROUGH RICE   November   Nov 10, 2025                6   Oct 31, 2025
SOYBEAN      November   Nov 10, 2025               36   Oct 30, 2025
DJ Canadian Grain Handling Summary – Nov 7
     WINNIPEG — The following are Canadian grain handling summary statistics
for the week ended Nov. 2, 2025. Figures in thousands of metric tons.
     Source: Canadian Grain Commission.
                  Durum
           Wheat  Wheat  Oats  Barley  Flax  Canola  Peas   Corn   Total*
COMMERCIAL STOCKS
This Week 2526.4  700.6  334.1  395.7  38.4  1318.7  271.0   85.3  7093.8
Week Ago  2022.5  263.7  242.7  282.2  27.5  1182.3  225.1  165.7  4924.7
Year Ago  2524.3  663.5  275.7  449.7  37.7  1488.5  334.2   93.4  7188.0
PRODUCER DELIVERIES
This Week  630.9  146.9   38.0   72.5   6.8   391.9   37.4   25.9  1501.4
Week Ago   645.4  158.1   38.4   70.0   6.0   314.9   45.3   20.1  1478.2
To Date   6813.0 1597.0  745.1 1617.3  49.6  4549.5 1132.7  189.3 18462.4
Year Ago  6218.3 1461.4  698.4 1164.4  30.6  5555.5 1374.2  136.6 18112.4
TERMINAL RECEIPTS
This Week  528.7  172.0   14.6   55.0   6.9   171.8   43.8   37.8  1371.9
Week Ago   373.7   84.5    5.6   45.3   1.1   200.0   17.5    3.5  1205.1
To Date   6847.5 1473.5  100.6  936.6  12.1  1590.6  745.4   62.5 14213.8
Year Ago  6658.6 1236.2  142.1  672.5   6.6  3271.8 1047.4  195.6 15532.2
EXPORTS
This Week  558.2   96.1   29.5   54.8   1.3   188.4   47.9    0.0  1404.5
Week Ago   364.6   68.6   10.0   94.5   0.3   155.5   55.5    0.0  1070.3
To Date   5679.2  901.6  311.9 1054.5   6.4  1423.3  865.3   11.6 11765.1
Year Ago  4961.7  949.8  390.5  577.5  11.0  3099.7 1053.7  293.8 12753.5
DOMESTIC DISAPPEARANCE
This Week   91.3   35.8   18.1   25.4   2.3   251.8    3.6   21.1   546.3
Week Ago    94.2   29.1   12.9   20.8   1.5   167.4    3.4   20.4   426.1
To Date   1171.4  209.5  193.5  340.4  14.7  3020.7   41.7  266.5  5760.7
Year Ago  1467.4  181.8  251.4  359.4  12.0  2953.3   67.4  275.4  6006.7
     *Totals include data from other crops not shown including rye, soybeans,
sunflower seed, canaryseed, mustard seed, beans, lentils and chickpeas.
     Source: MarketsFarm (news@marketsfarm.com, 204-414-9084)
DJ World’s Food Prices Fell in October on Cheaper Meat, Dairy and Sugar
  By Giulia Petroni
  Global food prices fell in October, driven by lower prices for meat, dairy and sugar, the Food and Agriculture Organization of the United Nations said.
  The FAO’s food price index, which tracks a basket of staple foods, averaged 126.4 points in October, down from September’s revised level of 128.5 points. The gauge is still more than 20% below its March 2022 high reached after Russia’s invasion of Ukraine.
  Meat prices dropped 2% last month, ending an eight-month streak of increases due to sharply lower pig and poultry prices. However, overall meat prices remain 4.8% higher than a year ago, with bovine meat continuing to rise amid firm global demand.
  The decline in pig meat was driven by abundant global supplies, with the European Union’s export prices facing additional pressure from weaker Chinese import demand due to new import duties. Poultry prices also contracted significantly, reflecting lower export prices from Brazil as avian-influenza trade restrictions imposed by China prompted exporters to shift sales to lower-priced markets.
  Dairy fell 3.4% from September, marking the fourth consecutive monthly decline. Butter prices continued to slide due to ample export availability from the EU and New Zealand, while milk powder prices also decreased amid limited demand and strong export competition.
  Sugar prices plunged 5.3%–hitting their lowest level since December 2020–due to stronger production in Brazil’s key growing regions and expectations of larger harvests in India and Thailand, where crushing operations have started. The FAO also pointed to lower crude oil prices, which further pressured global sugar prices by reducing demand from the biofuel sector.
  In contrast, vegetable-oil prices rose 0.9% last month to their highest level since July 2022, driven by a mix of factors including biofuel mandates and harvest delays in the Black Sea region.
  Cereal prices fell by 1.3% in October. Global cereal production is projected to rise by 4.4 percent this year, with output increases expected across all major cereals, the FAO said.
WHEAT
General Comments:   Wheat closed sharply lower as there has been no new demand news or rumors.  No USDA reports were released due to the government shutdown, but USDA will issue the November WASDE reports and production reports in about 10 days.  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 mixed.  Support is at 534, 524, and 517 December, with resistance at 560, 573, and 579 December.  Trends in Kansas City are up.  Support is at 506, 501, and 494 December, with resistance at 540, 545, and 548 December. Trends in Minneapolis are not available.
RICE:
General Comments   Rice was higher yesterday in recovery trading and on ideas that the market is too cheap and that farmers have sold what needs to be sold for now.  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 1020, 1012, and 1000 January and resistance is at 1074, 1086, and 1101 January.
CORN AND OATS
General Comments: Corn was lower yesterday, but held the recent trading range as the Supreme Court is deciding on the Trump tariffs.  Trends are sideways in the market.  Most USDA reports are cancelled as the government is still closed, but the November WASDE and production reports are to be issued on time.  There is talk in the country that Corn production is being overestimated by analysts.  The harvest is winding down 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 below normal this weekend and there are forecasts for some precipitation.  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 427, 425, and 419 December, and resistance is at 442, 450, and 456 December.  Trends in Oats are mixed.  Support is at 290, 282, and 274 December, and resistance is at 304, 310, and 316 December.
SOYBEANS
General Comments: Soybeans and Soybean Meal were lower yesterday on a lack of new news or rumors of Chinese demand.  Soybean Oil was a little lower.  The US Supreme Court is now deciding on the Trump tariffs.   China is 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 government has announced that it will support farmers with money, but so far no money has been flowing.  Forecasts call for some precipitation to be seen in the Midwest this weekend.  Temperatures will average below 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 1098, 1085, and 1070 January, and resistance is at 1136, 1142, and  1148 January.  Trends in Soybean Meal are up.  Support is at 304.00, 300.00, and 295.00 December, and resistance is at 325.00, 328.00, and 331.00 December.  Trends in Soybean Oil are mixed.  Support is at 4890, 4770, and 4710 December, with resistance at 5040, 5010, and 5150 December.
PALM OIL AND CANOLA
General Comments:   Palm Oil futures were lower today on a stronger Ringgit.  There are still ideas of increasing production.  The market sentiment overall is turning bearish on ideas of increasing stocks to the market and on some concerns about demand   Canola was lower.  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 625.00, 623.00, and 620.00 January, with resistance at 649.00, 656.00, and 661.00 January.  Trends in Palm Oil are mixed.  Support is at 4060, 3990, and 3950 January, with resistance at 4210, 4240, and 4290 January.
DJ Malaysian PM Cash Market Prices for Palm Oil – Nov 7
  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.
              Offer      Change      Bid        Change   Traded
Nov           1025.00    -07.50      Unquoted   –        –
Dec           1025.00    -10.00      Unquoted   –        –
Jan/Feb/Mar   1030.00    -07.50      Unquoted   –        –
Apr/May/Jun   1040.00    -10.00      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Nov           1030.00    -07.50      Unquoted   –        –
Dec           1030.00    -10.00      Unquoted   –        –
Jan/Feb/Mar   1035.00    -07.50      Unquoted   –        –
Apr/May/Jun   1045.00    -10.00      Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Nov           1002.50    -07.50      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Nov           1002.50    -07.50      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
              Offer      Change      Bid        Change   Traded
Nov           4,120.00   -30.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
              Offer      Change      Bid        Change   Traded
Nov           439.00     -06.00      Unquoted   –        –
($1=MYR4.1755)
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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