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 01/22/2026

By Jack Scoville On January 22, 2026 - 9:29 AM · In Market Commentaries, Morning Grains & Softs Report

DJ Analysts’ Estimates for January 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 is scheduled for release at 3 p.m. ET (2000 GMT) Friday.

Average Range

of estimates of estimates

On-feed Jan 1 96.8 96.0 – 97.6

Placed in Dec 92.7 88.0 – 95.4

Marketed in Dec 101.7 100.0 – 102.5

Analyst On-Feed Placements Marketed

Jan 1 in Dec in Dec

Allegiant Commodity Group 96.9 94.7 101.8

Allendale Inc. 96.1 88.8 101.0

HedgersEdge 97.4 94.9 101.7

Livestock Mktg Info Ctr 96.9 95.1 102.0

Midwest Market Solutions 97.3 95.4 102.5

NFC Markets 96.0 88.3 101.6

Texas A&M Extension 97.6 94.6 101.9

US Commodities 96.2 88.0 100.0

WHEAT

General Comments: Wheat closed a little lower again yesterday as the world economic meeting in Davos continued. Better export sales are now anticipated due the move lower seen Monday in reaction to the USDA reports. US Wheat areas neee snow cover Concerns on the condition of the Winter Wheat crops moving forward are growing as there is little snow cover and some very cold temperatures in the forecast that could create Winterkill.

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 higher 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 but demand remains quiet for US Rice.

Overnight News:

Chart Analysis: Trends are mixed to up. Support is at 1030, 1002, and 996 March and resistance is at 1079, 1092, and 1110 March.

CORN AND OATS

General Comments: Corn was a little lower. Trends are mixed to down. USDA announced new demand from Colombia and unknown destinations yesterday but no one seemed that impressed since USDA increase3d production in the annual reports released a week ago. Temperatures in the Midwest should average 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 428, 433, and 443 March. Trends in Oats are mixed to up. Support is at 284, 278, and 27\5 March, and resistance is at 317, 320, and 326 March.

SOYBEANS

General Comments: Soybeans and the products were higher yesterday on news that Chinese3 and US officials were meeting again. It still seems that the market is now more concerned about big supplies coming soon from South America with the Soybeans harvest there now underway and was reported at 2% complete. US prices are currently too high to complete many new sales anywhere in the world market except Canada and Mexico, but new Chinese demand potential is leading to the current rally attempt. Temperatures will average near to below normal in the Midwest.

Overnight News: Unknown destinations bought 192,350 tons of Us Soybeans.

Analysis: Trends in Soybeans are mixed. Support is at 1033, 1030, and 1018 March, and resistance is at 1071, 1082, and 1086 March. 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 up. Support is at 5040, 4960, and 4900 March, with resistance at 5440, 5500, and 5560 March.

PALM OIL AND CANOLA

General Comments: Palm Oil futures were higher today on idea of increasing seasonal demand and on ideas that Palm Oil is relatively cheap in the world market. Soybean Oil prices were higher as well. 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 higher yesterday on strong demand ideas. Canada and China reached agreement on a new trade deal which is expected to result in part in new sales of Canola to China 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 650.00, 656.00, and 662.00 March. Trends in Palm Oil are mixed. Support is at 4160, 4110, and 4070 April, with resistance at 4200, 4260, and 4350 April.

DJ Malaysian PM Cash Market Prices for Palm Oil – Jan 22

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