About The Author

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

Visit Website →

Grains Report 12/22/2025

By On December 22, 2025 - 9:40 AM · In Market Commentaries, Morning Grains & Softs Report
DJ U.S. Export Sales: Weekly Sales Totals-Dec 22
    For the week ended Dec 4, 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              381.5        4.0   19321.3   15694.0   5974.9     46.8
  hrw              106.6        4.0    6976.9    3593.0   1696.3      6.5
  srw               83.8        0.0    2750.4    2505.7    910.5     29.9
  hrs               95.6        0.0    4818.5    5167.4   1454.6      0.0
  white             84.5        0.0    4382.9    4143.0   1750.8     10.5
  durum             11.0        0.0     392.7     284.8    162.8      0.0
corn              1478.9        0.0   45834.7   35138.1  24421.1    829.8
soybeans          1552.1        0.4   23381.4   37144.5  10694.8     22.7
soymeal            275.5        0.0    7868.3    7449.1   4996.9      0.5
soyoil               1.2        0.0     199.9     480.2    118.7     27.5
upland cotton      153.3        0.3    5878.2    7011.9   3467.9    456.5
pima cotton          6.2        0.0     178.1     235.8     58.5      0.0
sorghum            248.7        0.0    1424.3    1157.2    971.9      0.0
barley               1.5        0.0      63.0      29.3     32.1      0.0
rice                 4.7        0.0    1276.6    1650.2    512.3      0.0
WHEAT
General Comments:   Wheat closed mixed last week, with Chicago lower but Kansas City higher on ideas that the market was oversold.  Demand ideas are under pressure from ideas and reports of big competition for sales.  The threat for additional bombings of freighters by either Russia or Ukraine kept futures supported to some extent.  World prices were weaker last week due to reports of strong production in exporter countries and mostly the countries in the global south.  Production has been good in northern hemisphere countries.  Southern hemisphere crops appear to be very good.  Demand has been weaker for various origins including Russia.
Overnight News:
Chart Analysis: Trends in Chicago are mixed.  Support is at 500, 494, and 488 March, with resistance at 515, 525, and 530 March.  Trends in Kansas City are mixed.  Support is at 500, 494, and 488 March, with resistance at 520, 525, and 530 March. Trends in Minneapolis are not available.
RICE:
General Comments   Rice was a little lower last week, but rallied from new lows for the move later in the week on ideas that futures were oversold.  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 mixed in the market.  The harvest is over in the delta and Mid South.  California is 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.  The charts show that trends are down.
Overnight News:
Chart Analysis: Trends are down.  Support is at 925, 916, and 904 January and resistance is at 983, 996, and 1004 January.
CORN AND OATS
General Comments:  Corn was higher last week as the demand for export and for bio energy needs holds strong.  Trends are mixed for now.  There have been ideas that traders expect weaker demand news from now on but demand overall has been very good and above USDA projections until now.  Ideas are that export demand is less now due to increased competition in the world market and ethanol demand is less as well.  Reports indicate that many elevators are holding less Corn than expected.  Trends are down in the market.  Temperatures should average near to above normal next week.  Oats were higher.
Overnight News:
Chart Analysis:  Trends in Corn are mixed to down.  Support is at 440, 435, and 430 March, and resistance is at 449, 452, and 457 March.  Trends in Oats are down.  Support is at 278, 275, and 272 March, and resistance is at 297, 302, and 312 March.
SOYBEANS
General Comments: Soybeans and the products closed lower last week.  It seems that the market is now more concerned about big supplies coming soon from South America.  The Trump administration says that China is on pace to buy the 12 million tons of US Soybeans it announced a few weeks ago by the end of February, but China has bought a lot to reach that goal.  It is already on a record pace for imports from all origins this year.  The US will have to compete with South America for sales in a diminishing Chinese market and US prices are currently too high to complete many new sales anywhere in the world market except Canada and Mexico.  The Chinese hog herd is being reduced and this means less demand for Soybeans and Soybean Meal.  Temperatures will average above normal in the Midwest this week.
Overnight News:  China bought 396,000 tons of US Soybeans.
Analysis:  Trends in Soybeans are down.  Support is at 1045, 1027, and 1019 January, and resistance is at 1071, 1082, and  1086 January.  Trends in Soybean Meal are mixed.  Support is at 298.00, 295.00, and 292.00 January, and resistance is at 311.00, 316.00, and 319.00 January.  Trends in Soybean Oil are down.  Support is at 4740, 4680, and 4620 January, with resistance at 4930, 4980, and 5070 January
PALM OIL AND CANOLA
General Comments:   Palm Oil futures were lower last week on ideas of increasing supplies available to the market.  Futures were higher today in reports of increased demand.  There are still Indonesian plans to increase the use of Palm Oil in biofuels blends.  There are still ideas of increasing production.  The market sentiment overall is turning bearish on ideas of increasing stocks to the market and some concerns about demand   Canola was lower along with the price action in Chicago.  There are ideas of a big Soybeans harvest coming from South America.  Trends are down on the daily and weekly charts.
Overnight News:
Chart Analysis: Trends in Canola are down.  Support is at 574.00, 568.00, and 562.00 January, with resistance at 614.00, 624.00, and 632.00 January.  Trends in Palm Oil are down.  Support is at 3880, 3820, and 3760 March, with resistance at 4030, 4070, and 4130 March.
DJ Malaysia Dec. 1-20 Palm Oil Exports Fell 0.87% on Month to 821,442 Tons, AmSpec Says
  By Megan Cheah
  Malaysia’s palm oil exports during the Dec. 1-20 period are estimated 0.87% lower on month at 821,442 metric tons, cargo surveyor AmSpec Agri Malaysia said Monday.
  The following are the major items in the AmSpec estimate:
  (All figures in metric tons)
                        Dec. 1-20       Nov. 1-20
   RBD Palm Olein        137,468         201,392
   RBD Palm Oil           62,322          89,797
   RBD Palm Stearin       79,477          56,016
   Crude Palm Oil        236,680         206,820
   Total*                821,442         828,680
  *Palm oil product volumes don’t add up to total as some products aren’t included.
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
Copyright (c) 2025 Dow Jones & Company, Inc.
DJ Malaysian PM Cash Market Prices for Palm Oil – Dec 22
  The following are prices for Malaysian palm oil in the cash market at 1000 GMT Monday, 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
Jan          1012.50     —         Unquoted   –        –
Feb/Mar      1017.50     —         Unquoted   –        –
Apr/May/Jun  1022.50    +20.00      Unquoted   –        –
Jul/Aug/Sep  1020.00    +17.50      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Jan           1017.50     —        Unquoted   –        –
Feb/Mar       1022.50     —        Unquoted   –        –
Apr/May/Jun   1027.50    +20.00     Unquoted   –        –
Jul/Aug/Sep   1025.50    +17.50     Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Jan           1002.50     +22.50      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Jan           1002.50     +22.50      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Jan            4,000.00   +50.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Jan            412.00     +07.00      Unquoted   –        –
($1=MYR4.0765)
Questions? Ask Jack Scoville today at 312-264-4322        
Tagged with: • • • • • • •