Grains Report 07/30/2025

WHEAT
General Comments: Wheat was lower yesterday. Ideas of solid harvest progress and good yields are still around and are forcing the selling. Harvest conditions for Winter Wheat appear to be good in the US and Spring Wheat development is currently good. Rains have been good in the northern Great Plains but Canada has been a little too dry for best yield potential and the northern Plains had hot and dry areas earlier in the year. Canada could still produce an average to above average crop. Russia is still being watched for dry weather that has so far hurt yields and Ukraine is watched for the same reason and because of the war that could destroy some fields. Russian Black Sea prices have been firming as producers are not making sales and are looking for higher prices to offset yield losses. Southern hemisphere crops appear to be good.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to up Support is at 521, 508 and 496 September, with resistance at 568, 572, and 582 September. Trends in Kansas City are mixed. Support is at 516, 504, and 498 September, with resistance at 550, 565, and 578 September. Trends in Minneapolis are not available.

RICE:
General Comments Rice was lower again on follow through speculative selling. Chart trends are still mostly down on the daily charts. The cash market has been slow with mostly quiet with low bids from buyers in domestic markets and average or less export demand. New crop harvesting has started in Louisiana with reports of good but not great yields and quality. Milling quality of the old crop Rice remains below industry standards and it takes more Rough Rice to create the grain for sale to stores and exporters. Rice is heading in most growing areas now and harvest has started near the Gulf Coast.
Overnight News:
Chart Analysis: Trends are down. Support is at 1228, 1218, and 1206 September and resistance is at 1276, 1285, and 1298 September.

CORN AND OATS
General Comments: Corn was lower again yesterday on additional forecasts for improving weather for the Midwest. There were no new sales of Corn on the USDA daily reporting system. The export sales report was strong when the current crop year and the next crop year sales were combined. Temperatures should stay warm to hot for one more day, but then cooler temperatures should return. Rain is expected with the cooler temperatures. Most of the Midwest has seen adequate or greater precipitation and production ideas are high. Yield estimates of 186 bushels per acre are frequently heard. Demand for Corn in world markets remains strong. Oats were lower.
Overnight News:
Chart Analysis: Trends in Corn are mixed. Support is at 387, 384, and 381 September, and resistance is at 414, 418, and 426 September. Trends in Oats are mixed to down. Support is at 349, 339, and 335 September, and resistance is at 383, 388, and 394 September.

SOYBEANS
General Comments: Soybeans and Soybean Meal were lower yesterday and Soybean Oil was higher as good growing conditions continue in the Midwest. Temperatures should turn cooler today and for atz least the next week and there should be some showers around as well. Prices are now reported to be higher in Brazil, but China and other buyers are still buying there for political reasons. 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 970, 958, and 946 August, and resistance is at 1020, 1037, and 1047 August. Trends in Soybean Meal are mixed. Support is at 259.00, 256.00, and 253.00 August, and resistance is at 277.00, 282.00, and 287.00 August. Trends in Soybean Oil are mixed to up. Support is at 5500, 5390, and 5310 August, with resistance at 5840, 5960, and 6080 August.

PALM OIL AND CANOLA
General Comments: Palm Oil futures were higher today along with the price action in Chicago and on weaker supply ideas. There was talk that India will soon be buying a lot with festivals coming soon. Ideas that current increased production levels mean higher inventories in MPOB monthly data are still around. Canola was higher. Trends are mixed to up on the daily charts and 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 mixed to up. Support is at 674.00, 665.00, and 660.00 November, with resistance at 713.00, 717.00, and 738.00 November. Trends in Palm Oil are up. Support is at 4130, 4080, and 4020 October, with resistance at 4350, 4410, and 4470 October.

DJ Canadian Oilseeds Monthly Crush – June 2025
WINNIPEG–Crushing statistics of major oilseeds in Canada
for the month of June 2025, reported by Statistics Canada are as
follows:
Figures are in metric tons.
Year Ago 2024/25 2023/24
Canola June 2025 June 2024 To Date To Date
Seed crushed 856,096 776,354 10,443,508 10,027,700
Oil produced 364,592 334,909 4,412,496 4,271,493
Meal produced 507,038 447,433 6,138,630 5,828,478
Soybeans
Seed crushed 104,846 85,317 1,455,846 1,588,530
Oil produced 20,120 16,325 271,926 290,889
Meal produced 81,479 69,190 1,136,143 1,236,249

DJ Malaysian PM Cash Market Prices for Palm Oil – July 30
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Wednesday, 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
Aug 1042.50 +05.00 Unquoted – –
Sep 1045.00 +02.50 Unquoted – –
Oct/Nov/Dec 1050.00 +05.00 Unquoted – –
Jan/Feb/Mar 1055.00 +05.00 Unquoted – –
Apr/May/Jun 1045.00 +07.50 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 1047.50 +05.00 Unquoted – –
Sep 1050.00 +02.50 Unquoted – –
Oct/Nov/Dec 1055.00 +05.00 Unquoted – –
Jan/Feb/Mar 1060.00 +05.00 Unquoted – –
Apr/May/Jun 1050.00 +07.50 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Aug 1012.50 +02.50 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Aug 935.00 +05.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 4,230.00 +20.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Aug 448.00 +01.00 Unquoted – –
($1=MYR4.2405)

DJ China Dalian Grain Futures Closing Prices, Volume – Jul 30
Soybean No. 1
Turnover: 200,003 lots, or 8.29 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 4,145 4,166 4,133 4,153 4,136 4,152 16 118,912 128,657
Nov-25 4,120 4,157 4,110 4,146 4,105 4,138 33 55,022 119,674
Jan-26 4,105 4,147 4,097 4,131 4,090 4,125 35 18,968 33,786
Mar-26 4,098 4,138 4,088 4,120 4,080 4,116 36 5,512 23,604
May-26 4,130 4,174 4,130 4,158 4,119 4,149 30 887 2,125
Jul-26 4,133 4,169 4,131 4,159 4,117 4,149 32 702 3,611
Corn
Turnover: 550,823 lots, or 1.26 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Sep-25 2,303 2,317 2,303 2,312 2,306 2,310 4 356,650 750,315
Nov-25 2,243 2,248 2,238 2,243 2,242 2,242 0 127,733 482,033
Jan-26 2,215 2,223 2,215 2,218 2,217 2,218 1 43,190 208,386
Mar-26 2,216 2,223 2,215 2,217 2,219 2,217 -2 15,962 94,671
May-26 2,262 2,268 2,261 2,263 2,263 2,264 1 5,256 31,951
Jul-26 2,276 2,282 2,276 2,280 2,277 2,279 2 2,032 9,314
Soymeal
Turnover: 2,100,195 lots, or 62.76 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-25 2,972 3,021 2,972 3,011 2,970 2,991 21 11,760 3,523
Sep-25 2,983 3,016 2,979 3,010 2,974 3,001 27 1,042,163 1,438,908
Nov-25 3,015 3,053 3,015 3,048 3,011 3,038 27 157,535 629,347
Dec-25 3,048 3,083 3,047 3,077 3,048 3,068 20 18,965 129,063
Jan-26 3,027 3,058 3,024 3,049 3,024 3,041 17 598,956 1,364,187
Mar-26 2,914 2,925 2,910 2,920 2,912 2,917 5 66,625 400,592
May-26 2,744 2,752 2,738 2,742 2,744 2,743 -1 187,174 690,975
Jul-26 2,723 2,730 2,722 2,728 2,730 2,727 -3 17,017 89,572
Palm Oil
Turnover: 654,437 lots, or 58.73 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-25 8,832 8,906 8,828 8,894 8,838 8,878 40 159 935
Sep-25 8,970 9,030 8,926 8,982 8,926 8,972 46 500,291 403,926
Oct-25 8,978 9,030 8,946 8,988 8,922 8,982 60 4,178 8,130
Nov-25 8,976 9,034 8,948 8,988 8,942 8,986 44 611 2,423
Dec-25 8,986 9,020 8,954 8,984 8,938 8,988 50 211 782
Jan-26 8,990 9,042 8,958 8,986 8,924 8,992 68 139,117 187,137
Feb-26 8,944 8,976 8,934 8,958 8,904 8,952 48 30 936
Mar-26 8,904 8,932 8,886 8,900 8,848 8,898 50 29 264
Apr-26 8,848 8,878 8,840 8,842 8,796 8,848 52 22 70
May-26 8,784 8,844 8,772 8,784 8,720 8,796 76 9,778 20,961
Jun-26 8,686 8,686 8,686 8,686 8,666 8,706 40 6 45
Jul-26 8,660 8,660 8,646 8,646 8,624 8,654 30 5 45
Soybean Oil
Turnover: 481,734 lots, or 39.57 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Aug-25 8,280 8,296 8,236 8,286 8,188 8,266 78 108 1,351
Sep-25 8,236 8,280 8,216 8,240 8,174 8,244 70 279,490 506,250
Nov-25 8,218 8,280 8,210 8,234 8,176 8,242 66 2,672 11,226
Dec-25 8,248 8,288 8,218 8,228 8,220 8,248 28 84 1,787
Jan-26 8,200 8,250 8,160 8,188 8,138 8,202 64 182,248 423,331
Mar-26 8,080 8,100 8,040 8,072 8,014 8,070 56 208 1,321
May-26 7,832 7,876 7,804 7,832 7,784 7,838 54 16,880 52,480
Jul-26 7,820 7,838 7,774 7,794 7,754 7,802 48 44 131
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