Grains Report 12/05/2024

DJ CBOT Delivery Intentions: Totals – Dec 5
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL December Dec 06, 2024 150 Nov 27, 2024
WHEAT December Dec 06, 2024 20 Nov 29, 2024

DJ U.S. Oct Grain Exports-Dec 5
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 ——-
Oct 24 Sep 24 Aug 24 Oct 23
Barley 2,025,000 1,734,451 798,536 1,101,804
Corn /1 4,047,857,000 4,278,577,000 5,156,297,000 2,811,143,000
Sorghum 285,280,000 350,084,000 473,627,000 214,032,000
Oats 6,032,109 4,906,521 9,065,691 1,644,898
Rye 80,000 183,634 205,411 20,000
Wheat /1 1,438,287,852 2,455,388,828 2,451,679,640 1,085,886,579
wheat flour /1 22,782,510 25,233,062 19,842,832 25,229,331
Malt 21,265,068 27,297,515 37,834,310 23,073,716
——- In Bushels, CWT or Pounds ——-
Oct 24 Sep 24 Aug 24 Oct 23
Barley 93,007 79,662 36,676 50,605
Corn /1 159,355,456 168,438,407 202,992,363 110,668,676
Sorghum 11,230,862 13,782,057 18,645,680 8,425,981
Oats 415,575 338,029 624,569 113,323
Rye 3,149 7,229 8,087 787
Wheat /1 52,847,489 90,219,169 90,082,881 39,899,092
wheat flour /1 502,268 556,294 437,460 556,212
Malt 46,881,458 60,180,729 83,410,390 50,868,845
1/Includes commercial and donated.

DJ U.S. Oct Oilseed, Meal, Oils/Fats Exports-Dec 5
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 ——-
Oct 24 Sep 24 Aug 24 Oct 23
soybeans 9,426,942,543 2,977,995,398 1,714,259,496 9,477,743,164
soyoil 10,271,132 27,383,872 29,070,288 5,950,515
crude 372,554 12,143,630 12,795,240 277,295
refined 96,590 209,020 132,759 131,409
other/1 9,606,209 14,895,826 15,882,266 5,367,429
hydrogenated 195,779 135,396 260,023 174,382
cottonseed oil 677,507 588,746 1,840,891 1,391,137
crude 0 116,108 403,471 281,549
refined 588,810 421,653 1,341,230 520,325
other/1 86,202 50,985 96,190 59,821
hydrogenated 2,495 0 0 529,442
sunseeds 556,927 249,305 386,258 42,018
sunseed oil 2,699,580 3,166,773 4,069,056 3,585,775
rapeseed 54,210,088 35,758,260 51,132,840 28,451,707
rapeseed oil 3,216,704 5,905,294 6,417,598 7,949,915
crude 1,111,654 2,827,744 3,207,883 3,815,951
refined 2,105,050 3,077,550 3,209,715 4,133,964
linseed meal 12,981 141,464 180,873 129,000
cottonseed meal 1,956,290 2,766,093 2,182,793 1,922,621
soymeal 1,064,709,276 880,401,963 765,558,348 864,470,439
soymeal/flour 205,209,718 229,660,687 138,433,544 320,483,355
soymeal hulls 14,906,000 15,660,000 5,192,000 7,450,000
lard 1,357,594 1,244,127 1,190,566 1,441,189
edible tallow 8,294,936 6,860,514 4,314,948 4,567,071
inedible tallow 3,361,303 4,358,883 11,566,164 9,921,175
ch white grease 5,781 0 0 0
——- In Bushels, Pounds or Short Tons ——-
Oct 24 Sep 24 Aug 24 Oct 23
soybeans 346,377,289 109,421,477 62,987,608 348,243,873
soyoil 22,643,974 60,371,114 64,089,026 13,118,642
crude 821,341 26,772,126 28,208,680 611,331
refined 212,945 460,810 292,684 289,707
other/1 21,178,069 32,839,681 35,014,409 11,833,157
hydrogenated 431,619 298,497 573,253 384,447
cottonseed oil 1,493,648 1,297,963 4,058,471 3,066,933
crude 0 255,974 889,501 620,709
refined 1,298,104 929,586 2,956,907 1,147,120
other/1 190,043 112,403 212,063 131,883
hydrogenated 5,501 0 0 1,167,220
sunseeds 1,227,814 549,624 851,553 92,634
sunseed oil 5,951,556 6,981,541 8,970,734 7,905,282
rapeseed 119,512,807 78,833,482 112,728,635 62,725,288
rapeseed oil 7,091,620 13,018,947 14,148,384 17,526,565
crude 2,450,778 6,234,109 7,072,173 8,412,733
refined 4,640,842 6,784,838 7,076,212 9,113,832
linseed meal 14 156 199 142
cottonseed meal 2,156 3,049 2,406 2,119
soymeal 1,173,629 970,467 843,875 952,906
soymeal flour/me 226,203 253,155 152,595 353,269
soymeal hulls 16,431 17,262 5,723 8,212
lard 2,992,983 2,742,831 2,624,749 3,177,278
edible tallow 18,287,207 15,124,847 9,512,834 10,068,670
inedible tallow 7,410,406 9,609,694 25,499,031 21,872,451
ch white grease 12,745 0 0 0

DJ U.S. October Grain Imports-Dec 5
In kilograms, from the U.S. Commerce Department, converted to
pounds by Dow Jones.
—-Oct 2024—- —-Sep 2024—-
kilograms pounds kilograms pounds
durum wheat 229,438 505,911 1,229,540 2,711,136
spring wheat 31,142,173 68,668,491 11,582,545 25,539,512
winter wheat 0 0 0 0
wheat/meslin 0 0 0 0
TOTAL WHEAT 31,371,611 69,174,402 12,812,085 28,250,647
barley 4,521,957 9,970,915 4,184,921 9,227,751
oats 73,303 161,633 380,010 837,922
corn 22,193,545 48,936,767 60,620,261 133,667,676
other corn 2,239,436 4,937,956 1,708,412 3,767,048
TOTAL CORN 24,432,981 53,874,723 62,328,673 137,434,724

DJ U.S. Oct Soymeal, Vegetable Oils/Oilseed Imports-Dec 5
In kilograms from the U.S. Commerce Department, converted to pounds
by Dow Jones.
—-Oct 2024—- —-Sep 2024—-
kilograms pounds kilograms pounds
coconut oil 36,036,710 79,460,946 47,393,215 104,502,039
palm kernel oil 23,742,089 52,351,306 26,612,201 58,679,903
palm oil 117,717,204 259,566,435 138,587,108 305,584,573
soybean 9,336,389 20,586,738 79,405,718 175,089,608
soymeal 0 0 0 0
soyoil 13,279,336 29,280,936 9,361,586 20,642,297
rapeseed oil
edible 309,673,521 682,830,114 234,572,310 517,231,944
rapeseed oil,
inedible 50,916 112,270 436,078 961,552

DJ Statistics Canada Crop Production Report – Dec 5
WINNIPEG–Canada 2024-25 grain/oilseed survey-based production estimates.
Source: Statistics Canada. Production in thousand metric tons, yield in
kg/hectare, area harvested in thousand hectares.
Harvested Avg Production
area yield 2024-25 2024-25 2023-24
DEC SEP FINAL
barley 2,394.1 3,402 8,143.9 7,600.2 8,905.4
edible beans 159.8 2,654 424.1 N/A 339.3
canaryseed 117.7 1,574 185.3 161.8 112.2
canola 8,845.9 2,017 17,844.5 18,980.5 19,191.7
chickpeas 194.1 1,477 286.8 327.2 159.1
corn 1,449.3 10,588 15,344.9 15,167.6 15,420.9
faba beans 32.7 2,686 87.8 N/A 107.1
flaxseed 201.4 1,281 258.0 265.3 272.7
lentils 1,692.8 1,436 2,431.3 2,593.5 1,801.1
mixed grains 61.7 2,462 151.9 145.7 152.9
mustard 242.7 792 192.3 210.7 170.7
oats 993.2 3,381 3,357.6 3,017.3 2,643.1
dry peas 1,280.7 2,340 2,997.4 3,160.0 2,608.8
fall rye* 117.0 3,598 420.9 349.0 357.8
soybeans 2,289.6 3,305 7,568.0 7,196.7 6,980.5
sugar beets 18.3 78,956 1,444.9 N/A 1,172.4
sunflower seed 23.8 2,129 50.7 36.1 92.5
triticale 31.6 3,181 100.6 N/A 43.9
all wheat 10,648.5 3,283 34,958.2 34,293.3 32,946.2
durum wheat 2,565.2 2,288 5,869.8 6,033.4 4,087.5
spring wheat 7,562.0 3,448 26,076.1 25,275.4 25,520.4
winter wheat* 521.3 5,779 3,012.4 2,984.5 3,338.4
*Fall rye and winter wheat numbers represent what was remaining
after winterkill.
Source: MarketsFarm (news@marketsfarm.com, or 204-414-9084)

DJ U.S. Export Sales: Weekly Sales Totals-Dec 5
For the week ended Nov 28, 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 378.2 0.0 15546.3 13044.0 4818.1 27.0
hrw 126.4 0.0 3631.9 2469.5 1040.7 0.0
srw 94.7 0.0 2478.5 2963.5 817.0 27.0
hrs 58.5 0.0 5023.2 4477.1 1521.5 0.0
white 100.4 0.0 4117.5 2806.5 1328.8 0.0
durum -1.8 0.0 295.0 327.4 110.0 0.0
corn 1732.4 22.1 34191.3 25747.3 22807.7 848.0
soybeans 2312.7 0.2 36185.4 32286.6 14482.6 19.2
soymeal 276.0 4.5 7272.8 6314.7 4798.6 7.3
soyoil 19.5 0.0 416.3 28.1 340.0 0.0
upland cotton 170.7 0.0 6858.9 7918.1 4713.5 428.3
pima cotton 3.7 0.0 228.8 170.2 105.2 0.0
sorghum 4.3 0.0 1150.9 3587.3 366.2 0.0
barley 1.0 0.0 28.6 16.6 19.9 3.0
rice 83.3 0.0 1605.3 1536.5 586.6 0.0

WHEAT
General Comments: The markets were a little higher yesterday on slightly lower world markets. Minneapolis closed slightly lower. Egypt is moving its Wheat buying to a new agency that will close deals privately and make it harder to track Russian prices. It is something the Russian government wanted. Tensions remined high between Ukraine, the US, and Russia. The growing conditions in the US are very good. Reports of very beneficial rains for the Great Plains and Midwest and reports of weaker offers in Russia and Argentina were negative for prices. Wheat farmers in the US can plant the Winter crops under good conditions. Australia has seen to much rain recently that has downgraded abut 4.0 million tons of production to feed instead of food. Australia still has a very big crop to sll into world markets.
Overnight News:
Chart Analysis: Trends in Chicago are down. Support is at 536, 530, and 5324 March, with resistance at 553, 563, and 571 March. Trends in Kansas City are down. Support is at 535, 529, and 523 March, with resistance at 551, 566, and 577 March. Trends in Minneapolis are mixed to down. Support is at 585, 578, and 572 March, and resistance is at 602, 608, and 613 March.

RICE:
General Comments: Rice closed lower after trading lower for most of the day. The trends are still mixed on the charts. Lower Asian prices are still reported. Brazil prices remain strong and well above US prices. The harvest is over now and the crops are being stored. Increased producer selling interest is likely at this time as futures have rallied above 15.00/cwt.
Overnight News:
Chart Analysis: Trends are mixed. Support is at 1486, 1481, and 1457 January and resistance is at 1538, 1544, and 1558 January.

CORN AND OATS
General Comments: Corn closed a little lower yesterday as the US harvest wraps up and as demand remains strong. The export demand in recent weeks has been very strong and it seems like some of the buying is in anticipation of the new presidential regime starting here in January. President Trump has promised new tariffs on goods and services and some buyers may be making purchases now to avoid the potential for the tariff at a later date. There were no sales announcements in the daily reports from USDA in the last week. Trading volumes are down and it feels like the holiday market is already here. Oats were higher as Canada is also looking at 25% tariffs imposed on exports to the US. The majority of the Oats consumed in the US comes from Canada.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 426, 423, and 418 March, and resistance is at 437, 442, and 445 March. Trends in Oats are mixed. Support is at 370, 366, and 361 March, and resistance is at 384, 394, and 406 March.

SOYBEANS
General Comments: Soybeans and Soybean Oil were lower yesterday as ideas of big south American production potential of Soybeans continue. Soybean Meal was higher on spreading against Soybean Oil. Trump has proposed to bring tariffs to China that could raise the price of used cooking oil to levels unprofitable for US makers of bio fuels. A major competitor to Soy Oil for bio fuels would be removed. The tariffs that Trump plans to impose could be another detriment to sales of all products. Brazil looks to produce much more than a year ago and some estimates range as high as 175 million tons for the country. Brazilian farmers are planting what is expected to be a very big crop in central and northern areas of the country. Warm and dry weather in the Midwest this year has hurt US production ideas due to ideas of small and very dry beans in the pods. Soybeans are often harvested at moisture levels below 10% this year. Central and northern Brazil rains will continue. Soils are in much better shape in southern Brazil and Argentina.
Overnight News: China bought 136,000 tons of US Soybeans.
Analysis: Trends in Soybeans are mixed to down. Support is at 974, 968, and 962 January, and resistance is at 1000, 1014, and 1020 January. Trends in Soybean Meal are mixed. Support is at 287.00, 284.00, and 281.00 January, and resistance is at 294.00, 299.00, and 304.00 January. Trends in Soybean Oil are mixed. Support is at 4060, 3960, and 3780 January, with resistance at 4300, 4450, and 4640 January.

PALM OIL AND CANOLA
General Comments: Palm Oil was lower yesterday in response to ideas of weaker production and demand. It was higher today. Demand from China has not been good, but demand from India has been seasonally strong. Ideas of weaker production caused by too much rain and reports of good demand provided support. The private surveyors have indicated that exports have been weaker so far this month. Canola was higher on a strong US Dollar. The harvest is winding down in Canada and the crops are locked away in the bin. Producers will try to wait for higher prices before selling much.
Overnight News:
Chart Analysis: Trends in Canola are mixed. Support is at 568.00, 554.00, and 548.00 January, with resistance at 596.00, 601.00, and 609.00 January. Trends in Palm Oil are mixed to up Support is at 5040, 4930, and 4800 February, with resistance at 5200, 5260, and 5320 February.

Midwest Weather Forecast Mostly dry. Temperatures should average below normal.

DJ Malaysian PM Cash Market Prices for Palm Oil – Dec 5
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
Dec 1280.00 +25.00 Unquoted – –
Jan/Feb/Mar 1235.00 +35.00 Unquoted – –
Apr/May/Jun 1112.50 +20.00 Unquoted – –
Jul/Aug/Seep 1045.00 +20.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Dec 1285.00 +25.00 Unquoted – –
Jan/Feb/Mar 1240.00 +35.00 Unquoted – –
Apr/May/Jun 1117.50 +20.00 Unquoted – –
Jul/Aug/Sep 1050.00 +20.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Dec 1257.50 +22.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Dec 1052.50 +27.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Dec 5,400.00 +50.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Dec 521.00 +04.00 Unquoted – –
($1=MYR4.425)

DJ China Dalian Grain Futures Closing Prices, Volume – Dec 05
Soybean No. 1
Turnover: 153,336 lots, or .59 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-25 3,820 3,866 3,817 3,846 3,857 3,840 -17 106,144 152,845
Mar-25 3,835 3,850 3,814 3,842 3,851 3,832 -19 11,179 31,368
May-25 3,855 3,875 3,841 3,862 3,882 3,857 -25 31,840 82,682
Jul-25 3,890 3,901 3,869 3,891 3,911 3,883 -28 1,850 8,647
Sep-25 3,919 3,928 3,892 3,916 3,945 3,910 -35 2,293 14,193
Nov-25 3,936 3,936 3,914 3,934 3,958 3,925 -33 30 133
Corn
Turnover: 2,308,642 lots, or 48.61 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jan-25 2,079 2,107 2,035 2,099 2,099 2,071 -28 1,352,085 771,427
Mar-25 2,110 2,137 2,062 2,129 2,127 2,100 -27 286,632 437,564
May-25 2,170 2,208 2,120 2,201 2,190 2,169 -21 536,115 509,091
Jul-25 2,208 2,240 2,150 2,232 2,221 2,199 -22 96,887 136,271
Sep-25 2,222 2,255 2,150 2,242 2,239 2,211 -28 26,223 38,517
Nov-25 2,211 2,237 2,163 2,227 2,226 2,205 -21 10,700 12,380
Soymeal
Turnover: 2,281,662 lots, or 6.17 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Dec-24 2,768 2,789 2,758 2,789 2,794 2,774 -20 293 1,534
Jan-25 2,813 2,816 2,761 2,796 2,830 2,794 -36 258,798 704,973
Mar-25 2,800 2,802 2,741 2,781 2,816 2,780 -36 81,249 313,386
May-25 2,705 2,707 2,645 2,660 2,726 2,672 -54 1,658,148 2,462,115
Jul-25 2,707 2,710 2,651 2,666 2,730 2,677 -53 36,560 215,374
Aug-25 2,820 2,820 2,764 2,780 2,839 2,789 -50 16,048 131,802
Sep-25 2,824 2,825 2,768 2,785 2,842 2,794 -48 210,447 562,612
Nov-25 2,839 2,839 2,783 2,796 2,858 2,810 -48 20,119 121,255
Palm Oil
Turnover: 1,916,633 lots, or 19.24 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Dec-24 10,300 10,300 10,250 10,250 10,300 10,286 -14 208 990
Jan-25 10,280 10,416 10,098 10,282 10,390 10,268 -122 1,365,556 401,879
Feb-25 10,180 10,294 10,054 10,212 10,258 10,184 -74 28,662 24,654
Mar-25 9,964 10,060 9,856 9,994 10,028 9,950 -78 11,163 10,162
Apr-25 9,736 9,800 9,648 9,766 9,784 9,724 -60 862 1,115
May-25 9,400 9,518 9,384 9,500 9,498 9,454 -44 487,293 353,990
Jun-25 9,148 9,270 9,140 9,250 9,234 9,200 -34 204 462
Jul-25 8,942 9,050 8,936 9,040 9,030 9,000 -30 224 404
Aug-25 8,760 8,858 8,760 8,846 8,818 8,814 -4 33 89
Sep-25 8,598 8,698 8,566 8,678 8,664 8,630 -34 22,331 38,249
Oct-25 8,436 8,520 8,400 8,520 8,516 8,464 -52 41 316
Nov-25 8,266 8,398 8,266 8,398 8,366 8,344 -22 56 120
Soybean Oil
Turnover: 809,007 lots, or 63.86 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Dec-24 – – – 8,020 8,020 8,020 0 0 2,122
Jan-25 8,016 8,072 7,930 8,048 8,082 8,006 -76 181,092 287,042
Mar-25 7,990 8,030 7,868 8,002 8,040 7,950 -90 5,325 18,936
May-25 7,862 7,940 7,762 7,914 7,938 7,868 -70 579,037 568,242
Jul-25 7,772 7,796 7,648 7,784 7,816 7,734 -82 1,321 3,538
Aug-25 7,804 7,824 7,686 7,810 7,862 7,776 -86 100 561
Sep-25 7,790 7,812 7,658 7,802 7,832 7,750 -82 42,068 72,405
Nov-25 7,744 7,776 7,656 7,776 7,806 7,714 -92 64 138
Notes:
1) Unit is Chinese yuan a metric ton;
2) Ch. is day’s settlement minus previous settlement;
3) Volume and open interest are in lots;
4) One lot is equivalent to 10 metric tons.

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