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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 01/15/2026

By On January 15, 2026 - 2:28 PM · In Market Commentaries, Morning Grains & Softs Report
DJ U.S. Export Sales: Weekly Sales Totals-Jan 15
    For the week ended Jan 8, 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              156.3        0.0   20272.1   17529.6   4906.5    102.3
  hrw               -5.5        0.0    7290.6    4070.1   1370.8     15.5
  srw                7.0        0.0    2753.5    2586.4    737.4     59.9
  hrs               87.0        0.0    5192.9    5730.0   1337.4      0.0
  white             66.3        0.0    4619.3    4788.7   1361.2     26.9
  durum              1.4        0.0     415.8     354.3     99.7      0.0
corn              1139.5        1.3   52034.9   40270.2  23065.2    864.3
soybeans          2061.9       10.0   30637.5   40682.6  12653.5    122.8
soymeal            340.6       -0.1    9393.3    8593.5   4724.1     60.8
soyoil              14.1        0.0     302.9     656.6    153.6      4.0
upland cotton      339.7       10.1    6937.3    8068.3   3794.9    507.2
pima cotton         15.7        0.0     219.3     249.8     63.7      0.0
sorghum            290.7        0.0    2577.2    1116.7   1632.9      0.0
barley               0.1        0.0      69.2      32.0     32.7      0.0
rice                58.1        0.0    1474.5    1911.7    526.6      0.0\
DJ CBOT Delivery Intentions: Totals – Jan 15
Source: CME Group
               Contract                        Quantity   Next Trade
Commodity      Month      Delivery Day   Assigned Today   Date Available
SOYBEAN MEAL   January    Jan 16, 2026               11   Jan 13, 2026
SOYBEAN OIL    January    Jan 16, 2026                3   Jan 12, 2026
ROUGH RICE     January    Jan 16, 2026                5   Jan 14, 2026
SOYBEAN        January    Jan 16, 2026               68   Jan 14, 2026
.
WHEAT
General Comments:   Wheat closed a little higher yesterday.  USDA released its Winter Wheat seedings report on Monday that showed increased planted are for SRW and reduced White Winter Wheat seedings.  HRW seedings were unchanged from a year ago.  Ending stocks were also increased for the US and the world, so the report was considered bearish.  Ending stocks estimates and the quarterly stocks estimates were on the high side of expectations.  The daily charts still display the potential for significant bottoms, but the outside day down on the daily charts draws those ideas into question.
Overnight News:
Chart Analysis: Trends in Chicago are mixed.  Support is at 500, 494, and 488 March, with resistance at 528, 530, and 536 March.  Trends in Kansas City are mixed.  Support is at 508, 503, and 499 March, with resistance at 536, 540, and 545 March. Trends in Minneapolis are not available.
RICE:
General Comments   Rice was slightly lower yesterday.  The market might have finished a bottom formation on the daily and weekly charts.  USDA on Monday cut its production estimate for All Rice but left Long Grain production higher than last month.  Domestic demand was increased and exports were cut for all classes.  Ending stocks were reduced.  The average farm price was increased for all Rice but left unchanged for Long Grain.  Weaker world prices are expected by the FAO in the coming year.  Trends are turning up in the market.
Overnight News:
Chart Analysis: Trends are mixed to up.  Support is at 1002, 996, and 975 March and resistance is at 1065, 1079, and 1092 March.
CORN AND OATS
General Comments:  Corn was a little higher in recovery trading.  The USDA reports that were released on Monday.  USDA increased  production by raising harvested area and trimming yields  and increased ending stocks through the increased production and a smaller increase in demand.  The demand for export and for bio energy needs has held strong, but the export demand was cut back in the WASDE reports even ad feed demand remained untouched.  Traders had expected a cut to the feed demand.  Trends are down.  Temperatures should average near to above normal today, then near to below normal.  Oats were lower.
Overnight News:
Chart Analysis:  Trends in Corn are down.  Support is at 417, 414, and 411 March, and resistance is at 426, 436, and 446 March.  Trends in Oats are mixed to down.  Support is at 284, 278, and 27\5 March, and resistance is at 317, 320, and 326 March.
SOYBEANS
General Comments: Soybeans and Soybean Meal were a little higher yesterday in recovery trading.  Soybean Oil was a little lower.  Production was increased as was domestic demand.  Export demand was cut back and ending stocks were increased.  Brazil production was increased.  It seems that the market is now more concerned about big supplies coming soon from South America with the Soybeans harvest there now underway.  US prices are currently too high to complete many new sales anywhere in the world market except Canada and Mexico.  Temperatures will average near to above normal in the Midwest today and tomorrow, then near to below normal the rest of this week.
Overnight News:
Analysis:  Trends in Soybeans are mixed.  Support is at 1033, 1030, and 1018 March, and resistance is at 1071, 1082, and  1086 January.  Trends in Soybean Meal are mixed.  Support is at 286.00, 283.00, and 280.00 March, and resistance is at 307.00, 311.00, and 316.00 March.  Trends in Soybean Oil are mixed to up.  Support is at 4840, 4810, and 4750 March, with resistance at 5200, 5120, and 5200 March
PALM OIL AND CANOLA
General Comments:   Palm Oil futures were lower today on weakness in the outside markets.  There are still ideas of increasing supplies available to the market along with weaker demand.  There are still ideas of increasing production.  Demand ideas are in a state of flux right now with some looking for weaker demand and other looking for improved demand.   Canola was a little lower on strong demand ideas.  There are ideas of a big Soybeans harvest coming from South America.
Overnight News:
Chart Analysis: Trends in Canola are mixed.  Support is at 616.00, 600.00, and 590.00 March, with resistance at 638.00, 644.00, and 650.00 March.  Trends in Palm Oil are mixed.  Support is at 3880, 3820, and 3760 March, with resistance at 4130, 4160, and 4200 March.
DJ Malaysia Jan. 1-15 Palm Oil Exports Rose 17.5% on Month to 690,642 Tons, AmSpec Says
  By Ying Xian Wong
  Malaysia’s palm oil exports during the Jan. 1-15 period are estimated up 17.5% on month at 690,642 metric tons, cargo surveyor AmSpec Agri Malaysia said Thursday.
  The following are the major items in the AmSpec estimate:
  (All figures in metric tons)
                        Jan. 1-15      Dec. 1-15
   RBD Palm Olein         144,405       97,648
   RBD Palm Oil            86,161       54,607
   RBD Palm Stearin        58,877       67,527
   Crude Palm Oil         201,125      171,880
   Total*                 690,642      587,657
  *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 – Jan 15
  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
Jan         1015.00    -10.00       Unquoted   –        –
Feb         1020.00    -12.50       Unquoted   –        –
Mar         1030.00    -15.00       Unquoted   –        –
Apr/May/Jun 1035.00    -10.00       Unquoted   –        –
Jul/Aug/Sep 1035.00    -10.00       Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Jan          1020.00    -10.00       Unquoted   –        –
Feb          1025.00    -12.50       Unquoted   –        –
Mar          1035.00    -15.00       Unquoted   –        –
Apr/May/Jun  1040.00    -10.00       Unquoted   –        –
Jul/Aug/Sep  1040.00    -10.00       Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Jan           995.00     -12.50      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Jan           990.00     -15.00      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Jan           3,990.00    -40.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Jan            422.00     -02.00      Unquoted   –        –
($1=MYR4.0545)
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