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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 11/19/2025

By Jack Scoville On November 19, 2025 - 10:25 AM · In Market Commentaries, Morning Grains & Softs Report

DJ Analysts’ Estimates for November Cattle-On-Feed Report

The following estimates, as compiled by the Wall Street Journal for the nation’s feedyards with a capacity of 1,000 or more head, are in percentages of the year-earlier figure. High and low projections were dropped in the calculation of averages. The U.S. Department of Agriculture report was originally scheduled for release at 3 p.m. ET (1900 GMT) Friday. However, data is suspended if the government shutdown continues.

Average Range

of estimates of estimates

On-feed Nov 1 97.9 96.9 – 98.6

Placed in Oct 92.2 90.0 – 95.5

Marketed in Oct 92.5 92.0 – 93.4

Analyst On-Feed Placements Marketed

Nov 1 in Oct in Oct

Allegiant Commodity Group 98.0 92.5 92.4

Allendale Inc. 98.2 92.5 92.5

HedgersEdge 97.6 92.7 93.1

Livestock Mktg Info Ctr 97.8 92.0 92.1

Midwest Market Solutions 97.9 93.0 93.4

NFC Markets 96.9 90.5 92.4

Texas A&M Extension 97.7 90.0 92.0

US Commodities 98.6 95.5 92.4

DJ U.S. August Grain Exports-Nov 19

In kilograms (top) and in bushels (bottom), except flour in cwt and malt

in pounds. /1 denotes includes commercial and donated. Source: U.S. Department

of Commerce.

(*)NOTE: Year ago figures reflect data reported at that time.

Data includes Exports and Re-Exports.

——- In Kilograms ——-

Aug 25 Jul 25 Jun 25 Aug 24

Barley 2,104,175 1,820,000 495,000 798,536

Corn /1 6,396,512,000 6,224,451,000 6,746,985,000 5,156,297,000

Sorghum 269,022,000 125,432,000 183,489,000 473,627,000

Oats 3,193,036 2,821,522 3,673,529 9,065,691

Rye 93,753 527,801 1,243,087 205,411

Wheat /1 2,692,918,979 2,305,623,556 1,719,735,822 2,451,679,640

wheat flour /1 17,972,529 20,428,825 21,846,451 19,842,832

Malt 31,705,434 32,743,397 31,960,083 37,834,310

——- In Bushels, CWT or Pounds ——-

Aug 25 Jul 25 Jun 25 Aug 24

Barley 96,643 83,591 22,735 36,676

Corn /1 251,816,970 245,043,297 265,614,341 202,992,363

Sorghum 10,590,820 4,937,989 7,223,569 18,645,680

Oats 219,980 194,385 253,083 624,569

Rye 3,691 20,778 48,938 8,087

Wheat /1 98,946,819 84,716,294 63,188,826 90,082,881

wheat flour /1 396,226 450,379 481,632 437,460

Malt 69,898,529 72,186,846 70,459,934 83,410,390

1/Includes commercial and donated.

DJ U.S. September Oilseed, Meal, Oils/Fats Exports-Nov 19

In kilograms (top). Oils in pounds, soybeans in bushels, meal and hulls in

short tons (bottom). Source: U.S. Department of Commerce.

(*)NOTE: Year ago figures reflect data reported at that time.

Data includes Exports and Re-Exports.

——- In Kilograms ——-

Aug 25 Jul 25 Jun 25 Aug 24

soybeans 2,273,445,910 1,751,923,882 1,500,661,887 1,714,259,496

soyoil 36,960,520 28,651,357 42,540,748 29,070,288

crude 21,286,790 6,975,381 17,446,181 12,795,240

refined 289,730 4,989,326 5,457,877 132,759

other/1 15,164,247 16,562,293 19,512,749 15,882,266

hydrogenated 219,753 124,357 123,941 260,023

cottonseed oil 3,102,005 2,692,049 2,023,522 1,840,891

crude 2,191,946 1,515,999 670,722 403,471

refined 359,463 467,903 834,722 1,341,230

other/1 550,596 708,147 518,078 96,190

hydrogenated 0

sunseeds 59,876 102,632 173,488 386,258

sunseed oil 2,291,623 3,043,944 2,062,699 4,069,056

rapeseed 14,266,328 22,954,532 15,343,265 51,132,840

rapeseed oil 6,843,559 7,874,853 4,084,346 6,417,598

crude 1,791,489 3,691,919 330,174 3,207,883

refined 5,052,070 4,182,934 3,754,172 3,209,715

linseed meal 78,387 22,000 0 180,873

cottonseed meal 1,873,375 2,320,615 2,570,636 2,182,793

soymeal 1,130,346,716 1,010,212,761 1,000,493,541 765,558,348

soymeal/flour 180,640,643 356,582,845 316,340,319 138,433,544

soymeal hulls 25,189,000 25,482,000 7,511,000 5,192,000

lard 928,029 761,598 436,105 1,190,566

edible tallow 3,495,338 5,165,531 5,402,292 4,314,948

inedible tallow 1,709,463 3,551,163 1,513,205 11,566,164

ch white grease 212,716 21,560 0 0

——- In Bushels, Pounds or Short Tons ——-

Aug 25 Jul 25 Jun 25 Aug 24

soybeans 83,533,980 64,371,523 55,139,319 62,987,608

soyoil 81,484,012 63,165,441 93,786,311 64,089,026

crude 46,929,347 15,378,085 38,462,252 28,208,680

refined 638,745 10,999,583 12,032,561 292,684

other/1 33,431,448 36,513,612 43,018,255 35,014,409

hydrogenated 484,473 274,160 273,243 573,253

cottonseed oil 6,838,752 5,934,953 4,461,103 4,058,471

crude 4,832,415 3,342,206 1,478,689 889,501

refined 792,480 1,031,550 1,840,247 2,956,907

other/1 1,213,857 1,561,197 1,142,167 212,063

hydrogenated 0 0 0 0

sunseeds 132,004 226,265 382,476 851,553

sunseed oil 5,052,165 6,710,749 4,547,474 8,970,734

rapeseed 31,451,875 50,606,089 33,826,115 112,728,635

rapeseed oil 15,087,468 17,361,082 9,004,443 14,148,384

crude 3,949,558 8,139,290 727,909 7,072,173

refined 11,137,910 9,221,793 8,276,534 7,076,212

linseed meal 86 24 0 199

cottonseed meal 2,065 2,558 2,834 2,406

soymeal 1,245,981 1,113,558 1,102,844 843,875

soymeal flour/me 199,120 393,061 348,702 152,595

soymeal hulls 27,766 28,089 8,279 5,723

lard 2,045,954 1,679,036 961,447 2,624,749

edible tallow 7,705,903 11,388,048 11,910,017 9,512,834

inedible tallow 3,768,721 7,828,976 3,336,047 25,499,031

ch white grease 468,959 47,532 0 0

DJ U.S. August Grain Imports-Nov 19

In kilograms, from the U.S. Commerce Department, converted to

pounds by Dow Jones.

—-Aug 2025—- —-Jul 2025—-

kilograms pounds kilograms pounds

durum wheat 14,847 32,738 0 0

spring wheat 6,746,766 14,876,619 11,617,500 25,616,588

winter wheat 0 0 0 0

wheat/meslin 0 0 0 0

TOTAL WHEAT 6,761,613 14,909,357 11,617,500 25,616,588

barley 6,304,960 13,902,437 9,356,771 20,631,680

oats 255,706 563,832 461,434 1,017,462

corn 65,197,964 143,761,511 37,323,536 82,298,397

other corn 1,747,145 3,852,455 1,988,159 4,383,891

TOTAL CORN 66,945,109 147,613,965 39,311,695 86,682,287

DJ U.S. Aug Soymeal, Vegetable Oils/Oilseed Imports-Nov 19

In kilograms from the U.S. Commerce Department, converted to pounds

by Dow Jones.

—-Aug 2025—- —-Jul 2025—-

kilograms pounds kilograms pounds

coconut oil 26,351,715 58,105,532 30,274,207 66,754,626

palm kernel oil 31,826,487 70,177,404 50,482,790 111,314,552

palm oil 102,070,600 225,065,673 137,191,306 302,506,830

soybean 77,781,050 171,507,215 93,996,829 207,263,008

soymeal 0 0 0 0

soyoil 7,791,022 17,179,204 12,882,451 28,405,804

rapeseed oil

edible 251,919,656 555,482,841 172,443,167 380,237,183

rapeseed oil,

inedible 1 2 69,724 153,741

WHEAT

General Comments: Wheat closed mixed yesterday on some speculative buying tied to ideas of new Chinese demand. The market expected to see increased ending stocks estimates but the increase in ending stocks on the US and world data were much larger than anticipated. US ending stocks were estimated at 901 million bushels and world stocks were estimated at 271.4 million tons. The Trump administration keeps talking up the potential Chinese demand. There has been no new China demand news or rumors and the weekly export inspections were down. The weekly USDA reports have started again but USDA is currently releasing old data and not current sales. Southern hemisphere crops appear to be good.

Overnight News:

Chart Analysis: Trends in Chicago are mixed to up. Support is at 537, 524, and 517 December, with resistance at 555, 560, and 573 December. Trends in Kansas City are mixed. Support is at 513, 506, and 501 December, with resistance at 540, 545, and 548 December. Trends in Minneapolis are not available.

RICE:

General Comments Rice was a little lower again 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 the delta and Mid South. 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 1068, 1074, and 1086 January.

CORN AND OATS

General Comments: Corn was a little higher yesterday on ideas and reports of strong export demand. Trends are now mixed in the market. The weekly export sales report from late September showed that Corn demand held strong. USDA will issue additional reports this week. 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 near to above normal this week and there are forecasts for some rain early this week. Oats were higher last week.

Overnight News:

Chart Analysis: Trends in Corn are mixed. Support is at 429, 425, and 422 December, and resistance is at 442, 450, and 456 December. Trends in Oats are mixed to up. Support is at 302, 297, and 292 December, and resistance is at 316, 324, and 338 December.

SOYBEANS

General Comments: Soybeans and the products were a little lower after an early rally failed yesterday on reports of new Chinese demand. China bought 972,000 tons this week. 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. Forecasts call for light precipitation to be seen in the Midwest. Temperatures will average near to above normal this week. 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: China bought 330,000 tons of US Soybeans.

Analysis: Trends in Soybeans are up. Support is at 1130, 1114, and 1103 January, and resistance is at 1172, 1184, and 1196 January. Trends in Soybean Meal are mixed to up. Support is at 320.00, 316.00, and 311.00 December, and resistance is at 331.00, 337.00, and 343.00 December. Trends in Soybean Oil are mixed to up. Support is at 5070, 4980, and 4900 December, with resistance at 5280, 5390, and 5480 December.

PALM OIL AND CANOLA

General Comments: Palm Oil futures were a little higher today in sympathy with the price action in Chicago. Futures reacted to the stronger Ringgit and weaker Chicago prices late in the week and MPOB data from early in the week that showed less than expected ending stocks for the month. There was some buying seen on Indonesian plans to increase the use of Pam Oil in biofuels blends. 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 are turning up on the weekly charts.

Overnight News:

Chart Analysis: Trends in Canola are mixed to up. Support is at 644.00, 636.00, and 632.00 January, with resistance at 661.00, 671.00, and 680.00 January. Trends in Palm Oil are mixed to up. Support is at 4160, 4110, and 4070 February, with resistance at 4250, 4300, and 4370 February.

DJ Malaysian PM Cash Market Prices for Palm Oil – Nov 19

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

Dec 1050.00 +05.00 Unquoted – –

Jan/Feb/Mar 1060.00 +07.50 Unquoted – –

Apr/May/Jun 1062.50 +07.50 Unquoted – –

Jul/Aug/Sep 1052.50 +07.50 Unquoted – –

RBD palm olein, FOB, Malaysian ports

Offer Change Bid Change Traded

Dec 1055.00 +05.00 Unquoted – –

Jan/Feb/Mar 1065.00 +07.50 Unquoted – –

Apr/May/Jun 1067.50 +07.50 Unquoted – –

Jul/Aug/Sep 1057.50 +07.50 Unquoted – –

RBD palm stearin, FOB, Malaysian ports

Offer Change Bid Change Traded

Dec 1035.00 +12.50 Unquoted – –

Palm Fatty Acid Distillate, FOB Malaysian ports

Offer Change Bid Change Traded

Dec 1025.00 +05.00 Unquoted – –

Crude palm oil, Delivered Basis, South Malaysia

Offer Change Bid Change Traded

Dec 4,190.00 -10.00 Unquoted – –

Palm kernel oil, Delivered Basis, South Malaysia

Offer Change Bid Change Traded

Dec 412.00 00.00 Unquoted – –

($1=MYR4.146)

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)

(END) Dow Jones Newswires

03-28-25 0623ET

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

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