Grains Report 04/15/2025

DJ Analysts’ Estimates for April 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 (1900 GMT) Thursday.
Average Range
of estimates of estimates
On-feed Apr 1 98.3 97.5 – 99.2
Placed in Mar 104.2 99.0 – 106.7
Marketed in Mar 100.6 99.0 – 101.5
Analyst On-Feed Placements Marketed
Apr 1 in Mar in Mar
Allegiant Commodity Group 98.5 105.5 100.6
Allendale Inc. 98.0 102.5 101.5
HedgersEdge 98.9 106.4 99.0
Livestock Mktg Info Ctr 98.1 102.5 100.7
Midwest Market Solutions 99.2 106.7 99.3
NFC Markets 98.5 106.2 101.2
Texas A&M Extension 97.9 102.0 100.8
US Commodities 97.5 99.0 101.0

DJ USDA Grain Inspections for Export in Metric Tons – Apr 14
WA_GR101
Washington, DC Mon April 14, 2025 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 APR 10, 2025
— METRIC TONS —
————————————————————————-
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 04/10/2025 04/03/2025 04/11/2024 TO DATE TO DATE
BARLEY 220 122 0 10,087 2,058
CORN 1,829,000 1,613,460 1,364,692 37,513,406 28,747,108
FLAXSEED 0 0 0 384 24
MIXED 0 0 0 122 572
OATS 0 0 0 647 3,994
RYE 0 0 0 0 72
SORGHUM 22,054 19,859 76,851 1,621,500 4,187,833
SOYBEANS 546,348 814,309 447,550 42,111,024 38,022,008
SUNFLOWER 0 0 312 0 4,421
WHEAT 604,461 335,088 620,139 18,295,319 15,990,159
Total 3,002,083 2,782,838 2,509,544 99,552,489 86,958,249
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

This Week Last Week Last Year Average
Cotton Planted 5 4 5 8
Corn Planted 4 2 6 5
Soybeans Planted 2 4 2
Sorghum Planted 15 13 14 15
Rice Planted 32 24 41 28
Rice Emerged 18 12 17 15
Peanuts Planted 1 1 1
Sugarbeets Planted 11 2 5 10
Oats Planted 41 31 42 36
Oats Emerged 27 25 29 26
Winter Wheat Headed 8 5 10 8
Spring Wheat Planted 7 3 6 7
Barley Planted 13 6 10 11

Very Poor Poor Fair Good Excellent
Winter Wheat This Week 5 14 34 41 6
Winter Wheat Last Week 6 15 31 41 7
Winter Wheat Last Year 4 9 32 47 8

WHEAT
General Comments: All three markets closed lower yesterday as the weather for growing crops was improved with more reports of showers in western growing areas. Rains have become much less in the southern Midwest and Mid South but flooding reports continue. The White House made a pause in the implementation of the reciprocal tariffs for 90 days but is still imposing blanket tariffs on most of the world and the old Mexican and Canadian tariffs. The tariffs will cost producers more for inputs and should damage upside price potential if the reciprocal tariffs start again. Chart trends are up in Winter Wheat markets and in Minneapolis. Dry outlooks for the Great Plains and Black Sea regions are still the main feature. Overall demand has been weak.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to up. Support is at 535, 521, and 518 May, with resistance at 557, 563, and 568 May. Trends in Kansas City are mixed. Support is at 553, 546, and 542 May, with resistance at 577, 583, and 598 May. Trends in Minneapolis are mixed to up. Support is at 599, 593, and 578 May, and resistance is at 626, 635, and 646 May.

RICE:
General Comments: Rice closed higher again yesterday and are holding to a sideways to up trend. Prices remain cheap and could threaten the planted area as it will cost more to produce Rice than it is getting in the market right now. Export sales have not been strong, and domestic demand is not strong enough right now to bid prices any higher. Milling quality of the Rice remains below industry standards and it takes more Rough Rice to create the grain for sale to stores and exporters. Rice is getting planted in southern growing areas now, and Texas is now about 80% done. Progress in Louisiana has been very good.
Overnight News:
Chart Analysis: Trends are mixed. Support is at 1357, 1326, and 1315 May and resistance is at 1393, 1409, and 1427 May.

CORN AND OATS
General Comments: Corn closed lower yesterday as the market reacted to the good planting weather in the Midwest and the latest in the tariff wars. Demand for Corn in domestic and world markets remains strong, but Corn demand could get hurt if Trump decides to push the reciprocal tariffs on the rest of the world again. The US is the best offer in the world for now and has been getting the business even with the tariff battles going on. The news that the White House has paused implementation of the new reciprocal tariffs by 90 days but held the world tariff schedule at 10% was viewed with relief by the market as the reciprocal tariffs had been much higher. It is dry in growing areas in western US, but most of the Midwest has had precipitation lately and eastern and southern areas are too wet. It has become warmer in a lot of the Midwest and planting progress is expected to be much improved this week. Oats were higher and the trends are up in this market.
Overnight News: Portugal bought 110,000 tons of US Corn.
Chart Analysis: Trends in Corn are up. Support is at 477, 470, and 461 May, and resistance is at 492, 500, and 512 May. Trends in Oats are mixed to up. Support is at 322, 317, and 312 May, and resistance is at 353, 362, and 367 May.

SOYBEANS
General Comments: Soybeans closed mixed and the products closed lower yesterday as the market reacted to news or better demand due to high Brazil FOB premiums. There was news that the reciprocal tariffs have been put on pause for 90 days. The world wide tariff of 10% remains intact as do tariffs on Mexico and Canada. The reports of demand have remained solid for US Soybeans as China has been taking almost all the export from South America. Deferred months were higher as the weather remains too wet to the east and south and too dry to the west. Warmer temperatures are expected this week.
Overnight News
Analysis: Trends in Soybeans are up Support is at 1030, 1011, and 991 May, and resistance is at 1051, 1055, and 1067 May. Trends in Soybean Meal are up. Support is at 295.00, 289.00, and 280.00 May, and resistance is at 304.00, 307.00, and 310.00 May. Trends in Soybean Oil are mixed to up. Support is at 4580, 4440, and 4390 May, with resistance at 4850, 4920, and 5040 May.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were lower today on weaker Soybean Oil futures. There is talk of reduced supplies in the market due to extreme weather that caused fields to flood among other things. Demand ideas are weaker. Chart trends are mixed. Canola was a little higher yesterday and trends are still up on the daily charts. Canadian goods were exempted from the new round of tariffs but still must deal with the tariffs previously imposed by the US. Canada will not be exempted by the 90 day pause.
Overnight News:
Chart Analysis: Trends in Canola are up. Support is at 638.00, 624.00, and 609.00 May, with resistance at 673.00, 682.00, and 690.00 May. Trends in Palm Oil are mixed to down. Support is at 4070, 2910, and 3790 June, with resistance at 4230, 4280, and 4340 June.

Midwest Weather Forecast Scattered showers. Temperatures should average near to below normal.

DJ Malaysian PM Cash Market Prices for Palm Oil – April 15
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
Apr 1050.00 -15.00 Unquoted – –
May 1030.00 -07.50 Unquoted – –
Jun 1000.00 -10.00 Unquoted – –
Jul/Aug/Sep 962.50 -10.00 Unquoted – –
Oct/Nov/Dec 960.00 -07.50 Unquoted – –
Jan/Feb/Mar 970.00 -07.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Apr 1055.00 -15.00 Unquoted – –
May 1035.00 -07.50 Unquoted – –
Jun 1005.00 -10.00 Unquoted – –
Jul/Aug/Sep 967.50 -10.00 Unquoted – –
Oct/Nov/Dec 965.00 -07.50 Unquoted – –
Jan/Feb/Mar 975.00 -07.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Apr 1020.00 -15.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Apr 1007.50 -12.50 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Apr 4,400.00 -120.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Apr 471.00 -02.00 Unquoted – –
($1=MYR4.41)

DJ China Dalian Grain Futures Closing Prices, Volume – Apr 15
Soybean No. 1
Turnover: 244,058 lots, or 10.26 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-25 4,190 4,205 4,173 4,191 4,190 4,188 -2 117,446 100,146
Jul-25 4,226 4,230 4,202 4,215 4,217 4,215 -2 60,606 110,448
Sep-25 4,240 4,245 4,213 4,231 4,228 4,229 1 58,919 85,065
Nov-25 4,195 4,195 4,160 4,176 4,176 4,173 -3 4,002 33,620
Jan-26 4,181 4,182 4,152 4,169 4,170 4,164 -6 1,878 4,616
Mar-26 4,185 4,186 4,155 4,168 4,175 4,165 -10 1,207 2,417
Corn
Turnover: 944,171 lots, or 21.62 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-25 2,269 2,269 2,251 2,258 2,272 2,257 -15 251,890 607,050
Jul-25 2,306 2,310 2,293 2,302 2,316 2,300 -16 556,593 1,118,514
Sep-25 2,337 2,339 2,324 2,332 2,344 2,330 -14 84,113 282,091
Nov-25 2,278 2,281 2,266 2,275 2,284 2,272 -12 33,788 177,950
Jan-26 2,270 2,273 2,261 2,268 2,276 2,266 -10 11,776 36,937
Mar-26 2,275 2,276 2,266 2,273 2,279 2,270 -9 6,011 13,097
Soymeal
Turnover: 2,835,380 lots, or 86.70 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-25 2,969 2,975 2,907 2,910 2,947 2,946 -1 474,673 582,885
Jul-25 2,957 2,974 2,905 2,909 2,949 2,937 -12 169,956 483,386
Aug-25 3,092 3,109 3,049 3,051 3,085 3,076 -9 30,617 182,325
Sep-25 3,106 3,124 3,064 3,066 3,097 3,094 -3 1,944,264 2,484,209
Nov-25 3,121 3,146 3,089 3,092 3,122 3,113 -9 35,754 249,602
Dec-25 3,113 3,131 3,086 3,088 3,108 3,107 -1 7,690 82,785
Jan-26 3,097 3,111 3,065 3,069 3,088 3,084 -4 139,717 416,749
Mar-26 2,959 2,965 2,919 2,920 2,957 2,944 -13 32,709 79,591
Palm Oil
Turnover: 741,160 lots, or 62.02 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Apr-25 – – – 9,366 9,366 9,366 0 12 0
May-25 8,750 8,772 8,666 8,720 8,754 8,726 -28 296,037 134,408
Jun-25 8,492 8,508 8,392 8,450 8,512 8,454 -58 3,654 7,293
Jul-25 8,352 8,364 8,244 8,310 8,370 8,306 -64 2,664 6,465
Aug-25 8,240 8,254 8,138 8,200 8,256 8,200 -56 62 840
Sep-25 8,184 8,190 8,062 8,134 8,188 8,128 -60 425,531 324,260
Oct-25 8,112 8,112 8,056 8,086 8,174 8,084 -90 16 1,055
Nov-25 8,126 8,126 8,052 8,082 8,166 8,078 -88 6 635
Dec-25 8,112 8,112 8,044 8,068 8,120 8,088 -32 31 171
Jan-26 8,100 8,108 7,996 8,058 8,104 8,058 -46 13,096 47,624
Feb-26 8,052 8,058 8,028 8,028 8,098 8,056 -42 7 806
Mar-26 8,084 8,084 7,996 8,042 8,098 8,034 -64 44 78
Soybean Oil
Turnover: 382,411 lots, or 29.35 billion yuan \
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
May-25 7,722 7,740 7,690 7,706 7,734 7,710 -24 57,797 137,712
Jul-25 7,662 7,664 7,620 7,648 7,668 7,642 -26 2,094 14,527
Aug-25 7,708 7,712 7,666 7,690 7,720 7,688 -32 491 5,835
Sep-25 7,700 7,700 7,646 7,676 7,694 7,670 -24 307,382 572,150
Nov-25 7,716 7,716 7,676 7,704 7,724 7,692 -32 89 1,921
Dec-25 7,700 7,700 7,670 7,682 7,706 7,682 -24 14 165
Jan-26 7,630 7,636 7,588 7,618 7,632 7,610 -22 14,420 60,300
Mar-26 7,616 7,616 7,580 7,600 7,620 7,600 -20 124 688
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