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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 01/06/2026

By On January 6, 2026 - 9:26 AM · In Market Commentaries, Morning Grains & Softs Report
DJ USDA Grain Inspections for Export in Metric Tons – Jan 5
WA_GR101
Washington, DC    Mon   Jan 05, 2026   USDA Market News
COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.
INFORMATION CONTAINED IN THIS REPORT REFLECTS EXPORTED GRAIN INSPECTED AND WEIGHED
THROUGH THE AUTHORITY UNDER THE U.S. GRAIN STANDARDS ACT.  NO ADDITIONAL ANALYSIS,
COMPILATIONS OR DATA IS AVAILABLE
GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT
                  REPORTED IN WEEK ENDING JAN 01, 2026
                            — METRIC TONS —
————————————————————————-
                                                   CURRENT     PREVIOUS
             ———– WEEK ENDING ———-  MARKET YEAR  MARKET YEAR
  GRAIN      01/01/2026  12/25/2025  01/02/2025    TO DATE     TO DATE
BARLEY              0           0           0        5,873        8,608
CORN        1,206,913   1,335,028     877,214   26,812,339   16,266,190
FLAXSEED           48           0           0          384          264
MIXED               0           0           0            0          122
OATS                0           0           0        4,788          148
RYE                 0           0           0            0            0
SORGHUM       244,296      70,450       1,028      862,366    1,373,838
SOYBEANS      980,518     773,600   1,295,819   16,401,241   29,967,442
SUNFLOWER           0           0           0            0            0
WHEAT         183,305     318,650     412,542   15,263,804   12,757,715
Total       2,615,080   2,497,728   2,586,603   59,350,795   60,374,327
CROP MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND
FLAXSEED;  SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.
INCLUDES WATERWAY SHIPMENTS TO CANADA
DJ CBOT Delivery Intentions: Totals – Jan 6
Source: CME Group
             Contract                        Quantity   Next Trade
Commodity    Month      Delivery Day   Assigned Today   Date Available
ROUGH RICE   January    Jan 07, 2026              141   Dec 30, 2025
SOYBEAN      January    Jan 07, 2026              533   Dec 31, 2025
WHEAT
General Comments:   Wheat closed higher yesterday on speculative short covering on continued reports of big world production and weaker demand.  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 518, 525, and 530 March.  Trends in Kansas City are mixed.  Support is at 508, 503, and 499 March, with resistance at 536, 540, and 550 March. Trends in Minneapolis are not available.
RICE:
General Comments   Rice was higher yesterday on what was called speculative short covering.  Ideas are that the market is too cheap and that farmers have sold what they need to for now.  The recent selling appears tied to the weaker prices in Asia and especially India.  Trends are turning down 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.
Overnight News:
Chart Analysis: Trends are mixed.  Support is at 964, 958, and 925 March and resistance is at 1028, 1051, and 1056 March.
CORN AND OATS
General Comments:  Corn was higher on speculative buying yesterday.  The demand for export and for bio energy needs has held strong.  Trends are mixed.  There have been ideas that traders expect weaker demand news from now on but demand overall has been very strong 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.  Temperatures should average above normal this week.  Oats were lower.
Overnight News:
Chart Analysis:  Trends in Corn are mixed.  Support is at 435, 432, and 430 March, and resistance is at 453, 457, and 460 March.  Trends in Oats are mixed to up.  Support is at 284, 278, and 27\5 March, and resistance is at 312, 317, and 320 March.
SOYBEANS
General Comments: Soybeans and the products were higher on speculative short covering yesterday.  \It seems that the market is now more concerned about big supplies coming soon from South America with the Soybeans harvest there just weeks away.  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, and China has already bought a lot to reach that goal.  US prices are currently too high to complete many new sales anywhere in the world market except Canada and Mexico.  Temperatures will average above normal in the Midwest this week.
Overnight News: China bought 336,000 tons of US Soybeans.
Analysis:  Trends in Soybeans are down.  Support is at 1041, 1033, and 1030 March, and resistance is at 1071, 1082, and  1086 January.  Trends in Soybean Meal are mixed to down.  Support is at 295.00, 292.00, and 286.00 March, and resistance is at 301.00, 304.00, and 307.00 March.  Trends in Soybean Oil are mixed.  Support is at 4840, 4810, and 4750 March, with resistance at 4970, 5030, and 5120 March
PALM OIL AND CANOLA
General Comments:   Palm Oil futures were lower today.  There are still ideas of increasing supplies available to the market along with weaker demand.  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 higher.  There are ideas of a big Soybeans harvest coming from South America.
Overnight News:
Chart Analysis: Trends in Canola are mixed.  Support is at 600.00, 590.00, and 584.00 March, with resistance at 616.00, 626.00, and 635.00 March.  Trends in Palm Oil are mixed.  Support is at 3880, 3820, and 3760 March, with resistance at 4130, 4160, and 4200 March.
DJ Malaysian PM Cash Market Prices for Palm Oil – Jan 6
  The following are prices for Malaysian palm oil in the cash market at 1000 GMT Tuesday, 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           1002.50    -02.50      Unquoted   –        –
Feb           1017.50    -05.00      Unquoted   –        –
Mar           1020.00    -07.50      Unquoted   –        –
Apr/May/Jun   1027.50    -02.50      Unquoted   –        –
Jul/Aug/Sep   1025.00    -02.50      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Jan           1007.50    -02.50      Unquoted   –        –
Feb           1022.50    -05.00      Unquoted   –        –
Mar           1025.00    -07.50      Unquoted   –        –
Apr/May/Jun   1032.50    -02.50      Unquoted   –        –
Jul/Aug/Sep   1030.00    -02.50      Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
             Offer      Change      Bid        Change   Traded
Jan           992.50     -07.50      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Jan           992.50     -07.50      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
              Offer      Change      Bid        Change   Traded
Jan          3,980.00    -20.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
              Offer      Change      Bid        Change   Traded
Jan           411.00     -01.00      Unquoted   –        –
($1=MYR4.044)
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