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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 11/12/2025

By On November 12, 2025 - 9:43 AM · In Market Commentaries, Morning Grains & Softs Report
DJ U.S. Corn, Soybean Production Estimates — Survey
  NEW YORK-The following are analysts’ estimates for 2025 U.S. corn and soybean production in millions of bushels, as compiled by The Wall Street Journal. Yield estimates are in bushels per acre and harvested acres are in million acres. The U.S. Department of Agriculture is scheduled to release its monthly estimates at noon on Thursday.
U.S. 2025 Production (million bushels, bushels per acre)
                           Average        Range       USDA Sept.  USDA 2024
Corn Production            16,528     16,380-16,748      16,814      14,867
Corn Yield                  183.5      182.0-186.0        186.7       179.3
Harvested Acres             90.0        89.3-90.5          90.0        82.9
Soybean Production          4,265      4,152-4,420        4,301       4,366
Soybean Yield               53.0        51.7-53.8          53.5        50.7
Harvested Acres             80.3        80.0-80.3          80.3        86.1
                                  Corn  Harvested            Soybean  Harvested
                      Production  Yield   Acres    Production  Yield    Acres
AgrSource                16,387   182.0    90.0       4,256     53.0     80.3
Allendale                16,668                       4,273
Doane                    16,450   182.7    90.0       4,255     53.0     80.3
Grain Cycles             16,434   182.5    90.0       4,240     52.8     80.3
         Linn Group               16,650   185.0               4,240     52.8
Sid Love Consulting      16,466   184.5    89.3       4,200     52.5     80.0
Midland Research         16,522   183.5    90.0       4,236     52.7     80.3
Midwest Market Solutions 16,712   184.6    90.5       4,321     53.8     80.3
Northstar                16,470   183.0    90.0       4,420     52.8     80.3
Ocean State Research     16,470   183.0    90.0       4,256     53.0     80.3
Prime Ag                 16,650   185.0    90.0       4,301     53.5     80.3
Risk Mgmt Commods        16,380   182.0    90.0       4,256     53.0     80.3
         RJO Brien                16,530   183.6               4,238     52.8
StoneX                   16,748   186.0    90.0       4,303     53.6     80.3
US Commodities           16,551   183.9    90.0       4,288     53.4     80.3
Vantage RM               16,470   183.0    90.0       4,272     53.2     80.3
Zaner Ag Hedge           16,416   182.4    90.0       4,152     51.7     80.3
DJ U.S. November Grain, Soybean Stockpiles Estimates — Survey
  NEW YORK–The following are analysts’ estimates in millions of bushels for U.S. ending stockpiles for 2025-26, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Friday at noon ET.
U.S. Stockpiles (millions)
2025-26
                           Average    Range     USDA Sept.
Corn                        2,130  1,944-2,470       2,110
Soybeans                     292     187-418           300
Wheat                        862     828-913           844
                                     2025-26
                            Corn    Soybeans      Wheat
AgriSource                  2,139      243         850
Allendale                   2,239      294         860
Doane                       2,100      250         861
Grain Cycles                1,980      187         845
Linn Group                  2,250      325         877
Sid Love Consulting         2,200      250         882
Midland Research            2,034      224         855
Midwest Market Solutions    2,051      324         866
Northstar                   1,995      305         860
Ocean State Research        2,237      330         861
Prime Ag                    2,150      310         875
Risk Mgmt Commods           1,970      300         844
RJO Brien                   2,352      302         913
StoneX                      2,470      274         862
US Commodities              2,126      418         835
Vantage RM                  1,972      314         828
Zaner Ag Hedge              1,944      310         874
DJ November World Grain, Soybean Stockpiles Estimates — Survey
  NEW YORK–The following are analysts’ estimates in millions of metric tons for world grain and soybean ending stockpiles for 2024-25 and 2025-26, as compiled by The Wall Street Journal. The U.S. Department of Agriculture is scheduled to release updated supply and demand tables on Friday at noon ET.
World Stockpiles (million metric tons)
2024-25
                           Average      Range       USDA Sept.
Corn                       285.6     284.0-289.3        284.2
Soybeans                   123.4     122.3-124.0        123.6
Wheat                      262.6     262.0-263.7        262.4
2025-26
                           Average      Range       USDA Sept.
Corn                       283.0     280.0-284.9        281.4
Soybeans                   124.6     123.0-126.0        124.0
Wheat                      266.1     264.0-270.0        264.1
                                  2024-25                      2025-26
                          Corn   Soybeans  Wheat     Corn   Soybeans   Wheat
Allendale                 287.1   123.3    263.7     283.3    123.9    265.9
Linn                                                 284.0    125.0    265.6
Midwest Market Solutions  284.3   124.0    262.8     283.1    125.0    265.1
Northstar                 285.0   123.6    262.4     280.0    123.0    264.0
Ocean State Research      284.2   123.6    262.4     284.0    125.0    266.0
Prime Ag                                             283.0    125.0    270.0
Risk Mgmt Commods         286.0   124.0    262.5     282.0    126.0    266.5
StoneX                    284.5   122.3    262.4     283.9    124.0    267.1
US Commodities            284.0   123.0    262.0     282.0    125.0    265.0
Zaner Ag  Hedge           289.3   123.4    262.4     284.9    124.2    265.6
DJ CBOT Delivery Intentions: Totals – Nov 12
Source: CME Group
            Contract                        Quantity   Next Trade
Commodity   Month      Delivery Day   Assigned Today   Date Available
SOYBEAN     November   Nov 13, 2025               29   Oct 31, 2025
WHEAT
General Comments:   Wheat closed mixed after a lower open yesterday.  There has been no new China demand news or rumors and the weekly export inspections were down.  No other USDA reports were released due to the government shutdown, but USDA will issue the November WASDE reports and production reports later this week.  Southern hemisphere crops appear to be good.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to down.  Support is at 524, 517, and 505 December, with resistance at 555, 560, and 573 December.  Trends in Kansas City are mixed tso 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.  Ideas are 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 higher yesterday after opening lower and held the recent trading range.  Trends are sideways in the market.  The export inspections report showed good demand for US Corn.  Most USDA reports are cancelled as the government is still closed, but the November WASDE and production reports are to be issued on time later this week.  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.  Temperatures should average below normal early this week but above normal by this weekend and there are forecasts for some precipitation.  Oats were higher.
Overnight News:
Chart Analysis:  Trends in Corn are mixed.  Support is at 425, 422, and 419 December, and resistance is at 442, 450, and 456 December.  Trends in Oats are mixed.  Support is at 282, 274, and 268 December, and resistance is at 304, 310, and 316 December.
SOYBEANS
General Comments: Soybeans and Soybean Meal closed lower and Soybean Oil was higher yesterday.  There was no talk of new Chinese demand although the market hoes for more.  China bought cargoes over a week ago but has not been reported to buy anything since.  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 week.  Temperatures will average below normal early this week, but above normal by this weekend.  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.  Brazil Soybeans are now 61% planted, from 67% last year.
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 4930, 4890, and 4770 December, with resistance at 5140, 5180, and 5220 December.
PALM OIL AND CANOLA
General Comments:   Palm Oil futures were lower today on Chicago price action.  Ideas that production will be less in the near term due to weather considerations supported some buying.  The market sentiment overall has been bearish on ideas of increasing stocks to the market and on some concerns about demand   Canola was a little higher.  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 12
  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
Nov          1037.50    +07.50      Unquoted   –        –
Dec          1037.50    +05.00      Unquoted   –        –
Jan/Feb/Mar  1050.00    +02.50      Unquoted   –        –
Apr/May/Jun  1055.00    +02.50      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Nov           1042.50    +07.50      Unquoted   –        –
Dec           1042.50    +05.00      Unquoted   –        –
Jan/Feb/Mar   1055.00    +02.50      Unquoted   –        –
Apr/May/Jun   1060.00    +02.50      Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Nov           1020.00    +05.00      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Nov           1020.00    +05.00      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Nov            4,110.00   -20.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Nov            432.00     -03.00      Unquoted   –        – \
($1=MYR4.1345)
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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