Grains Report 11/13/2025

DJ USDA Report: Recap for U.S. Agriculture Supply, Demand
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 monthly supply-and-demand report scheduled for release at noon ET on Friday.
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
****
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
****
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

DJ U.S. Export Sales: Weekly Sales Totals for w/e Sep 25
For the week ended Sep 25, in thousand metric tons, except cotton in
thousand running bales. Net changes in commitments are gross sales,
less cancellations, buy-backs and other downward adjustments. Total
commitments are total export shipments plus total sales.
The marketing year for wheat and barley began Jun 1, cotton and
and rice Aug 1, corn, soybeans and sorghum Sep 1, and soymeal and
soyoil Oct 1. Source: USDA
wk’s net chg total
in commitments commitments undlvd sales
this yr next yr this yr last yr this yr next yr
wheat 315.9 0.0 13956.2 11472.3 4563.4 24.9
hrw 107.7 0.0 5529.8 2609.0 1781.8 2.5
srw 51.5 0.0 1985.5 1852.7 602.6 22.4
hrs 88.4 0.0 3498.7 3822.3 1125.8 0.0
white 64.3 0.0 2725.8 2994.5 1019.6 0.0
durum 4.0 0.0 216.3 193.9 33.5 0.0
corn 1394.8 22.4 27151.4 16427.7 22163.1 115.9
soybeans 870.5 0.0 11872.3 18873.7 9677.9 2.3
soymeal -216.2 623.5 15568.3 13837.1 738.4 3930.3
soyoil 3.9 9.7 1099.5 281.7 15.1 87.7
upland cotton 155.4 44.1 4214.3 5054.8 3175.6 280.3
pima cotton 1.1 0.0 115.7 160.5 61.5 0.0
sorghum 63.0 0.0 477.8 663.3 442.4 0.0
barley 0.0 0.0 55.8 19.7 33.1 0.0
rice 93.3 0.0 783.7 964.7 459.4 0.0

DJ CBOT Delivery Intentions: Totals – Nov 13
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
ROUGH RICE November Nov 14, 2025 170 Nov 05, 2025

WHEAT
General Comments: Wheat closed higher yesterday on news that the government will reopen. There has been no new China demand news or rumors and the weekly export inspections were down. USDA will issue the November WASDE reports and production reports later this week. The weekly USDA reports will start again soon with the government open again. 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 lower yesterday despite news that Iraq has bought 88,000 tons of milled Rice. 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 but held the recent trading range on news that the government is to reopen. Trends are sideways in the market. The export inspections report showed good demand for US Corn. The November WASDE and production reports are to be issued on time later this week and the weekly reports ill start to flow soon. 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 above normal by this weekend and there are forecasts for mostly dry conditions. 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 the products were higher yesterday as the government is now open again. There was no talk of new Chinese demand although the market hopes 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 mostly dry conditions to be seen in the Midwest. Temperatures will average 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.
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 5110, 5040, and 5180 December.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were near unchanged today. There are ideas of increasing supplies, but those ideas are now turning as production enters a seasonal slowdown. 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 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 13
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 1030.00 -07.50 Unquoted – –
Dec 1030.00 -07.50 Unquoted – –
Jan/Feb/Mar 1047.50 -02.50 Unquoted – –
Apr/May/Jun 1055.00 00.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1035.00 -07.50 Unquoted – –
Dec 1035.00 -07.50 Unquoted – –
Jan/Feb/Mar 1052.50 -02.50 Unquoted – –
Apr/May/Jun 1060.00 00.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 1015.00 -05.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Nov 1015.00 -05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 4,080.00 -30.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 429.00 -03.00 Unquoted – –
($1=MYR4.126)

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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