Grains Report 06/20/2025

DJ U.S. Export Sales: Weekly Sales Totals-Jun 20
For the week ended Jun 12, 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 427.2 0.0 6336.8 5426.9 5857.6 0.0
hrw 127.4 0.0 2452.4 1245.6 2257.5 0.0
srw 33.0 0.0 1126.2 905.0 1074.8 0.0
hrs 208.7 0.0 1767.4 1865.3 1648.3 0.0
white 57.9 0.0 905.5 1302.1 794.4 0.0
durum 0.2 0.0 85.4 108.9 82.7 0.0
corn 903.8 155.0 66833.2 52835.9 13546.2 3288.4
soybeans 539.5 75.2 49129.2 44219.2 3726.7 1193.0
soymeal 160.3 14.0 14163.6 12637.0 3539.0 456.9
soyoil -1.5 0.0 1051.9 182.8 55.8 13.4
upland cotton 83.2 274.9 11668.7 12732.1 1913.3 1647.6
pima cotton -1.9 6.5 453.2 337.3 85.2 19.7
sorghum 50.8 0.0 1639.3 5453.0 196.0 0.3
barley 4.0 0.0 55.5 19.3 53.9 0.0
rice 9.8 0.3 3052.6 3376.2 451.0 21.5
.

WHEAT
General Comments: All three Wheat markets closed sharply higher and above many resistance areas on the charts as growing and harvesting conditions at home and abroad have improved. There are still reports that the weather has reduced production potential in Ukraine and Russia and reports of recent dry weather in some parts of the EU and China was a concern, but there has been rains in these areas recently. Russia is forecasting a large reduction in Wheat production for the coming year. Winter crops in the Great Plains are reported to be in good condition, but Spring Wheat crops in the northern Great Plains and into Canada had been dry. Conditions in the US are now generally good.
Overnight News:
Chart Analysis: Trends in Chicago are up Support is at 558, 556 and 549 July, with resistance at 581, 591, and 605 July. Trends in Kansas City are up. Support is at 551, 538, and 529 July, with resistance at 574, 582, and 589 July. Trends in Minneapolis are up. Support is at 625, 620, and 608 July, and resistance is at 659, 673, and 680 July.

RICE:
General Comments: Rice was a little higher yesterday in consolidation trading. Chart trends are mixed on the daily charts. The cash market has been slow with mostly quiet domestic markets and average export demand. 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 has emerged in most growing areas now. Condition has been rated as good but too much rain has been reported in southern areas.
Overnight News:
Chart Analysis: Trends are mixed. Support is at 1315, 1282, and 1261 July and resistance is at 1380, 1402, and 1410 July.

CORN AND OATS
General Comments: Corn was higher yesterday. But July was not as strong as forecasts turned hot and dry for at least a few days in the Midwest. Warmer and drier weather is in the forecast through this weekend. Warm weather returns in the forecasts for next week. A severe drought is seen in central Nebraska and moderate drought extends east in a corridor into the Chicago area. The rest of the Midwest has seen adequate or greater precipitation. Demand for Corn in world markets remains strong. Oats were lower.
Overnight News: Unknown destinations bought 124,000 tons of US Corn.
Chart Analysis: Trends in Corn are mixed. Support is at 428, 425, and 422 July, and resistance is at 456, 465, and 470 July. Trends in Oats are mixed. Support is at 358, 355, and 352 July, and resistance is at 390, 396, and 402 July.

SOYBEANS
General Comments: Soybeans were slightly higher yesterday, but tzhe products were lower as profit taking took hold after a couple of days of sharp gains. Forecasts for good growing conditions in the Midwest and as cheaper prices reported from Brazil are still being heard, but the Midwest has turned hot for the next few days or longer. The market could remain under pressure as Brazil basis levels have been under pressure the last few weeks and prices in world markets for Brazil Soybeans are now less than those from the US. Export demand is in its seasonal doldrums. Export demand remains less for US Soybeans as China has been taking almost all the export from South America.
Overnight News:
Analysis: Trends in Soybeans are mixed. Support is at 1046, 1043, and 1033 July, and resistance is at 1079, 1082, and 1105 July. Trends in Soybean Meal are down. Support is at 281.00, 278.00, and 275.00 July, and resistance is at 290.00, 295.00, and 300.00 July. Trends in Soybean Oil are up. Support is at 5260, 5220, and 5060 July, with resistance at 5580, 5700, and 5820 July.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were higher today on imptpoved eport demand. Ideas that current increased production levels mean higher inventories in MPOB monthly data are still around. Ideas of increasing production and reduced demand are also heard. Canola was lower on speculative selling tied tzo profit taking. Trends are up on the daily charts and are turning up on the weekly charts. The weather has generally been dry for planting and crop development in the Prairies with warm and dry weather around lately.
Overnight News:
Chart Analysis: Trends in Canola are up. Support is at 680.00, 662.00, and 649.00 July, with resistance at 749.00, 753.00, and 759.00 July. Trends in Palm Oil are up. Support is at 4030, 3980, and 3960 September, with resistance at 4120, 4210, and 4310 September.

DJ Malaysia June 1-20 Palm Oil Exports Rose 11% on Month, AmSpec Says
By Amanda Lee
Malaysia’s palm oil exports during the June 1-20 period are estimated up 11% on month at 798,813 metric tons, cargo surveyor AmSpec Agri Malaysia said Friday.
The following are the major items in the AmSpec estimate:
(All figures in metric tons)
June 1-20 May 1-20
RBD Palm Olein 149,800 153,245
RBD Palm Oil 80,720 116,821
RBD Palm Stearin 72,410 74,763
Crude Palm Oil 176,895 153,069
Total* 798,813 720,422
*Palm oil product volumes don’t add up to total as some products aren’t included.

Midwest Weather Forecast: Showers and storms. Temperatures should average near to above normal.

DJ Malaysian PM Cash Market Prices for Palm Oil – June 20
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Friday, 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
Jun 1002.50 00.00 Unquoted – –
Jul 1000.00 00.00 Unquoted – –
Aug/Sep 1000.00 00.00 Unquoted – –
Oct/Nov/Dec 1010.00 +05.00 Unquoted – –
Jan/Feb/Mar 1015.00 +02.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Jun 1007.50 00.00 Unquoted – –
Jul 1005.00 00.00 Unquoted – –
Aug/Sep 1005.00 00.00 Unquoted – –
Oct/Nov/Dec 1015.00 +05.00 Unquoted – –
Jan/Feb/Mar 1020.00 +02.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Jun 980.00 +10.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Jun 890.00 00.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jun 4,120.00 -10.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Jun 392.00 -01.00 Unquoted – –
($1=MYR4.2505)

DJ China Dalian Grain Futures Closing Prices, Volume – Jun 20
Soybean No. 1
Turnover: 154,450 lots, or 6.55 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-25 4,226 4,256 4,221 4,253 4,213 4,239 26 8,079 21,863
Sep-25 4,237 4,270 4,234 4,259 4,227 4,251 24 125,212 220,722
Nov-25 4,158 4,180 4,151 4,170 4,141 4,166 25 14,978 71,335
Jan-26 4,135 4,165 4,135 4,155 4,128 4,152 24 3,719 14,553
Mar-26 4,120 4,143 4,120 4,136 4,114 4,131 17 2,353 19,180
May-26 4,150 4,175 4,150 4,165 4,143 4,165 22 109 591
Corn
Turnover: 610,733 lots, or 1.46 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-25 2,372 2,377 2,368 2,372 2,365 2,371 6 168,463 368,548
Sep-25 2,404 2,413 2,404 2,409 2,401 2,407 6 372,688 959,322
Nov-25 2,325 2,334 2,325 2,331 2,323 2,330 7 40,093 310,710
Jan-26 2,288 2,293 2,284 2,289 2,285 2,288 3 13,964 99,769
Mar-26 2,283 2,289 2,280 2,283 2,280 2,284 4 12,746 68,019
May-26 2,323 2,328 2,315 2,319 2,321 2,321 0 2,779 11,663
Soymeal
Turnover: 1,268,059 lots, or 38.79 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-25 2,907 2,916 2,898 2,908 2,895 2,907 12 64,996 124,319
Aug-25 3,060 3,071 3,042 3,049 3,049 3,052 3 33,710 200,127
Sep-25 3,077 3,086 3,056 3,067 3,063 3,070 7 913,041 2,339,532
Nov-25 3,113 3,122 3,094 3,104 3,099 3,107 8 38,978 577,587
Dec-25 3,131 3,137 3,111 3,120 3,118 3,123 5 5,219 109,284
Jan-26 3,104 3,115 3,088 3,097 3,096 3,100 4 168,788 950,100
Mar-26 2,933 2,935 2,919 2,925 2,923 2,927 4 13,488 196,066
May-26 2,769 2,775 2,763 2,768 2,763 2,768 5 29,839 308,353
Palm Oil
Turnover: 648,500 lots, or 55.43 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-25 8,650 8,706 8,612 8,646 8,638 8,652 14 3,215 3,590
Aug-25 8,614 8,662 8,564 8,594 8,592 8,608 16 2,487 7,729
Sep-25 8,538 8,600 8,502 8,536 8,532 8,548 16 601,493 503,940
Oct-25 8,500 8,560 8,476 8,484 8,488 8,506 18 115 975
Nov-25 8,480 8,516 8,460 8,468 8,472 8,478 6 20 900
Dec-25 8,490 8,546 8,486 8,504 8,480 8,512 32 18 557
Jan-26 8,510 8,568 8,472 8,504 8,496 8,512 16 40,705 107,811
Feb-26 8,508 8,508 8,466 8,466 8,474 8,474 0 7 925
Mar-26 8,422 8,464 8,410 8,424 8,422 8,440 18 13 315
Apr-26 – – – 8,392 8,392 8,392 0 0 84
May-26 8,382 8,438 8,356 8,382 8,374 8,398 24 424 2,684
Jun-26 8,350 8,350 8,340 8,344 8,292 8,344 52 3 3
Soybean Oil
Turnover: 429,011 lots, or 34.99 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Jul-25 8,282 8,314 8,240 8,260 8,232 8,278 46 5,120 20,064
Aug-25 8,216 8,268 8,194 8,230 8,174 8,236 62 2,719 10,107
Sep-25 8,144 8,198 8,126 8,156 8,120 8,162 42 374,523 619,103
Nov-25 8,148 8,176 8,122 8,132 8,104 8,144 40 376 3,593
Dec-25 8,146 8,180 8,132 8,144 8,116 8,152 36 43 1,771
Jan-26 8,080 8,130 8,060 8,082 8,052 8,094 42 44,386 194,037
Mar-26 7,832 7,912 7,828 7,864 7,820 7,876 56 204 1,003
May-26 7,762 7,780 7,718 7,736 7,718 7,744 26 1,640 9,975
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