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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

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Grains Report 10/14/2025

By On October 14, 2025 - 9:47 AM · In Market Commentaries, Morning Grains & Softs Report
DJ CBOT Delivery Intentions: Totals – Oct 14
Source: CME Group
               Contract                        Quantity   Next Trade
Commodity      Month      Delivery Day   Assigned Today   Date Available
SOYBEAN MEAL   October    Oct 15, 2025              128   Oct 13, 2025
SOYBEAN OIL    October    Oct 15, 2025               27   Oct 09, 2025
WHEAT
General Comments:   Wheat closed slightly lower in quiet trading yesterday.  No USDA reports were released due to the government shutdown.  Russian crop areas remain too dry in Winter Wheat areas and too wet in Spring Wheat areas, but crop size ideas are expected to increase due to reports of big yields in Spring Wheat growing areas.  Sovecon last week has raised its production estimates by 600,000 tons to 87.8 million tons due to higher production in Siberia.  Ideas are that production there next year will feature reduced planted area due to the lack of profitability.  A French government report showed plenty of production but lower quality.  Rains have been good in the northern Great Plains and Canada.  It has been warm in the Great Plains so far this Fall.  Southern hemisphere crops appear to be good.
Overnight News:
Chart Analysis: Trends in Chicago are mixed to down.  Support is at 493, 490 and 484 December, with resistance at 507, 513, and 518 December.  Trends in Kansas City are mixed to down.  Support is at 478, 472, and 466 December, with resistance at 496, 501, and 507 December. Trends in Minneapolis are not available.
RICE:
General Comments   Rice was higher in range trading yesterday.  Trends are sideways in the market.  The harvest is wrapping up in Texas and southern Louisiana.  Harvest is starting to wrap up in Mississippi and Arkansas.  Yields and quality are mixed, but quality appears better than a year ago.  The cash market has been slow with low bids from buyers in domestic markets and average or less export demand.  Louisiana reports good but not great yields and quality.
Overnight News:
Chart Analysis: Trends are mixed.  Support is at 1064, 1052, and 1040 November and resistance is at 1098, 1126, and 1145 November.
CORN AND OATS
General Comments: Corn was a little lower yesterday in lifeless trading with the government still closed and USDA reports cancelled for now.  The crop is maturing and the harvest is expanding.  There are ideas that US production might not be super strong due to disease such as rust to offset the demand losses.  Yield reports are showing at or above APH yields in western areas, with vey good crops reported in Minnesota.  Yields have been reported at or less than APH in areas east of the Mississippi River.  Temperatures should average near to above normal this week and there are forecasts for mostly dry conditions.  Most of the western Midwest has seen adequate or greater precipitation and production ideas are high.  Areas east of the Mississippi River have been very dry for the last month or more.  Demand for Corn in world markets remains moderate to strong.  Oats were a little higher.
Overnight News:
Chart Analysis:  Trends in Corn are mixed.  Support is at 411, 408, and 405 December, and resistance is at 424, 428, and 431 December.  Trends in Oats are down.  Support is at 283, 277, and 271 December, and resistance is at 300, 308, and 311 December.
SOYBEANS
General Comments: Soybeans were a little higher and Soybean Oil closed higher while Soybean Meal closed lower as the market heard that China has imposed new restrictions on the export of rare earth metals.  Chinese exporters now must register with the government and register sales.  It is another roadblock in the quest for a trade deal between the US and China.  President Trump said that he now has no plans to talk to President Xi of China about Chinese purchase of US Soybeans, and reports indicate that their meeting of the two leaders at the end of the month will be brief if the meeting happens at all.  Trump was more relaxed over the weekend and the market was more relaxed yesterday.  China has shown no interest in buying US ag products.  Forecasts call for mostly dry conditions to be seen in the Midwest this and next week.  Temperatures will average near or above normal.  The dry weather could hurt pod fill and bean size and there are indications that the yields are less than expected in eastern areas.  Prices are still 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 due to the Trump tariff regime.
Overnight News:
Analysis:  Trends in Soybeans are mixed to down.  Support is at 994, 981, and 970 November, and resistance is at 1021, 1030, and  1036 November.  Trends in Soybean Meal are mixed.  Support is at 271.00, 268.00, and 265.00 December, and resistance is at 282.00, 286.00, and 290.00 December.  Trends in Soybean Oil are mixed.  Support is at 4920, 4890, and 4770 December, with resistance at 5160, 5220, and 5390 December.
PALM OIL AND CANOLA
General Comments:   Palm Oil futures were lower today due to concerns about demand from India and ideas of increasing supplies.   Canola was a little higher last week.  Concerns remain about demand potential.  The Canadian government is moving now to support farmers in the face of the Chinese demand loss and also in the face of the Trump tariffs.  Trends are mixed to down on the daily charts and on the weekly charts.
Overnight News:
Chart Analysis: Trends in Canola are mixed.  Support is at 596.00, 590.00, and 584.00 November, with resistance at 625.00, 630.00, and 640.00 November.  Trends in Palm Oil are mixed to up.  Support is at 4450, 4390, and 4340 December, with resistance at 4580, 4620, and 4680 December.
DJ Malaysian PM Cash Market Prices for Palm Oil – Oct 14
  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
Oct          1082.50    -07.50      Unquoted   –        –
Nov          1085.00    -10.00      Unquoted   –        –
Dec          1097.50    -07.50      Unquoted   –        –
Jan/Feb/Mar  1102.50    -05.00      Unquoted   –        –
Apr/May/Jun  1087.50    -02.50      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Oct           1087.50    -07.50      Unquoted   –        –
Nov           1090.00    -10.00      Unquoted   –        –
Dec           1102.50    -07.50      Unquoted   –        –
Jan/Feb/Mar   1107.50    -05.00      Unquoted   –        –
Apr/May/Jun   1092.50    -02.50      Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Oct           1067.50    -10.00      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Oct           1037.50    -10.00      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Oct            4,420.00   -30.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Oct            469.00     -02.00      Unquoted   –        –
($1=MYR4.228)
DJ China Dalian Grain Futures Closing Prices, Volume – Oct 14
Soybean No. 1
Turnover: 176,664 lots, or 7.01 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Nov-25     3,959     3,969     3,947     3,953     3,968     3,957       -11    82,519    94,691
Jan-26     3,967     3,978     3,958     3,967     3,969     3,969         0    82,845   158,928
Mar-26     3,965     3,980     3,961     3,971     3,971     3,972         1     6,018    38,732
May-26     4,009     4,020     4,002     4,008     4,004     4,011         7     1,767     9,139
Jul-26     4,010     4,021     4,004     4,008     4,003     4,012         9     3,399    12,381
Sep-26     4,011     4,022     4,005     4,010     4,008     4,011         3       116       976
Corn
Turnover: 1,107,336 lots, or 23.30 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Nov-25     2,088     2,099     2,076     2,093     2,107     2,087       -20   568,484   479,322
Jan-26     2,103     2,119     2,094     2,111     2,114     2,105        -9   369,769   663,421
Mar-26     2,127     2,146     2,119     2,140     2,130     2,131         1   104,473   307,714
May-26     2,192     2,209     2,186     2,202     2,197     2,198         1    44,661   135,548
Jul-26     2,207     2,222     2,205     2,218     2,211     2,214         3    18,356    61,681
Sep-26     2,223     2,238     2,221     2,235     2,227     2,230         3     1,593     2,859
Soymeal
Turnover: 1,751,873 lots, or 50.57 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.         Vol        Open
                                                  Settle                                    Interest
Nov-25     2,926     2,927     2,862     2,883     2,918     2,896       -22     126,308     230,646
Dec-25     2,956     2,965     2,904     2,921     2,954     2,936       -18      11,629     153,665
Jan-26     2,936     2,943     2,883     2,902     2,936     2,912       -24   1,293,039   1,997,420
Mar-26     2,912     2,918     2,866     2,882     2,911     2,890       -21      78,167     423,779
May-26     2,747     2,752     2,721     2,728     2,751     2,736       -15     202,660   1,018,378
Jul-26     2,734     2,737     2,705     2,710     2,736     2,719       -17      19,398     161,630
Aug-26     2,854     2,858     2,831     2,837     2,858     2,841       -17       6,575      36,892
Sep-26     2,858     2,861     2,836     2,844     2,861     2,846       -15      14,097      65,770
Palm Oil
Turnover: 591,438 lots, or 55.32 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Oct-25     9,198     9,200     9,140     9,198     9,214     9,184       -30         4       100
Nov-25     9,270     9,326     9,182     9,216     9,274     9,266        -8     6,473     9,550
Dec-25     9,308     9,384     9,222     9,282     9,326     9,314       -12     2,808     6,431
Jan-26     9,364     9,438     9,274     9,330     9,376     9,366       -10   526,687   350,778
Feb-26     9,368     9,434     9,298     9,332     9,358     9,358         0        79     1,335
Mar-26     9,338     9,420     9,276     9,340     9,352     9,332       -20        87       872
Apr-26     9,336     9,336     9,252     9,280     9,298     9,312        14        21       345
May-26     9,232     9,306     9,158     9,222     9,218     9,238        20    54,596   117,669
Jun-26     9,146     9,178     9,066     9,136     9,120     9,108       -12        44       126
Jul-26     9,052     9,074     8,960     9,036     9,012     9,012         0        39       185
Aug-26     8,976     9,012     8,906     8,906     8,958     8,956        -2        11        56
Sep-26     8,874     8,946     8,808     8,868     8,866     8,884        18       589     2,023
Soybean Oil
Turnover: 316,226 lots, or 26.03 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Nov-25     8,284     8,322     8,218     8,240     8,284     8,272       -12     4,937    10,967
Dec-25     8,306     8,350     8,256     8,276     8,322     8,306       -16     1,007     8,167
Jan-26     8,280     8,316     8,220     8,240     8,282     8,270       -12   258,935   493,960
Mar-26     8,234     8,254     8,170     8,200     8,214     8,206        -8       113     1,632
May-26     8,036     8,088     7,996     8,018     8,030     8,040        10    49,516   233,434
Jul-26     7,982     8,020     7,944     7,972     7,974     7,980         6       197       704
Aug-26     7,990     8,012     7,930     7,958     7,968     7,966        -2        53        87
Sep-26     7,948     7,990     7,878     7,908     7,940     7,924       -16     1,468     2,000
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.
     This content was automatically published based on data and/or text from the original
DJ Malaysian PM Cash Market Prices for Palm Oil – March 28
  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
Apr          1135.00    +15.00      Unquoted   –        –
Apr/May/Jun  1092.50    +20.00      Unquoted   –        –
Jul/Aug/Sep  1012.50    +17.50      Unquoted   –        –
Oct/Nov/Dec  1002.50    +15.00      Unquoted   –        –
Jan/Feb/Mar  1007.50    +12.50      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Apr           1140.00    +15.00      Unquoted   –        –
Apr/May/Jun   1097.50    +20.00      Unquoted   –        –
Jul/Aug/Sep   1017.50    +17.50      Unquoted   –        –
Oct/Nov/Dec   1007.50    +15.00      Unquoted   –        –
Jan/Feb/Mar   1012.50    +12.50      Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Apr           1112.50    +20.00      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Apr           1070.00    +15.00      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Apr            4,830.00   +70.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Apr            494.00     +07.00      Unquoted   –        –
($1=MYR4.4363)
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