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Jack Scoville

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Grains Report 10/21/2025

By On October 21, 2025 - 10:32 AM · In Market Commentaries, Morning Grains & Softs Report
DJ USDA Grain Inspections for Export in Metric Tons – Oct 20
WA_GR101
Washington, DC    Mon   Oct 20, 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 OCT 16, 2025
                            — METRIC TONS —
————————————————————————-
                                                   CURRENT     PREVIOUS
             ———– WEEK ENDING ———-  MARKET YEAR  MARKET YEAR
  GRAIN      10/16/2025  10/09/2025  10/17/2024    TO DATE     TO DATE
BARLEY            195         293           0        4,727        4,920
CORN        1,317,724   1,210,036   1,001,162    9,338,197    5,814,182
FLAXSEED           24           0           0          264          192
MIXED               0           0           0            0            0
OATS                0         400           0        3,492          148
RYE                 0           0           0            0            0
SORGHUM         2,195      20,832      53,472      123,411      469,808
SOYBEANS    1,474,354   1,017,172   2,549,979    5,537,802    8,013,348
SUNFLOWER           0           0           0            0            0
WHEAT         480,614     447,531     270,571   11,192,553    9,299,986
Total       3,275,106   2,696,264   3,875,184   26,200,446   23,602,584
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
WHEAT
General Comments:   Wheat closed mixed yesterday, with Chicago a little higher and KC a little lower based on reports of weaker prices paid in Russia and Argentina amid big world supplies.  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.  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 492, 490 and 484 December, with resistance at 507, 513, and 518 December.  Trends in Kansas City are mixed.  Support is at 477, 472, and 466 December, with resistance at 496, 501, and 507 December. Trends in Minneapolis are not available.
RICE:
General Comments   Rice was a little lower again yesterday as the selling seems to be relentless.  Trends are down in the market.  The harvest is wrapping up in Texas and southern Louisiana.  Harvest is now wrapping 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 1040, 1028, and 1014 November and resistance is at 1098, 1126, and 1145 November.
CORN AND OATS
General Comments: Corn was a little higher yesterday on speculative buying.  Trends are sideways in the market.  Most USDA reports are cancelled as the government is still closed.  The harvest is active in all areas of the Midwest.  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 very 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 higher.
Overnight News:
Chart Analysis:  Trends in Corn are mixed.  Support is at 408, 405, and 402 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 and the products were higher yesterday as the trade war between the US and China continued but as President Trump said that a primary focus of his proposed meeting with Xi of China.  Traders are looking forward to positive results from the meeting between Trump and Xi near the end of the month.  China has shown no interest in buying US ag products and Trump has now threatened to regulate cooking oil imports from China in a new escalation in the war as China is restricting Rare Earth metals to the US.  Forecasts call for mostly dry conditions to be seen in the Midwest this and next week.  Temperatures will average near or above normal.  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 up.  Support is at 1020, 1010, and 1001 November, and resistance is at 1036, 1053, and  1063 November.  Trends in Soybean Meal are mixed to up.  Support is at 279.00, 275.00, and 273.00 December, and resistance is at 286.00, 290.00, and 295.00 December.  Trends in Soybean Oil are mixed.  Support is at 4920, 4890, and 4770 December, with resistance at 5180, 5220, and 5390 December.
PALM OIL AND CANOLA
General Comments:   Palm Oil futures were a little lower yesterday after opening higher on ideas of increasing supplies for the market.  The market sentiment overall is bullish despite some concerns about Indian demand   Canola was mixed, with nearby months a little lower and deferred months a little higher as Canada and China agreed to negotiate trade issues that have included a ban on imports of Canadian Canola by China.  Trends are mixed on the daily charts and on the weekly charts.
s.  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 4470, 4410, and 4360 January, with resistance at 4570, 4620, and 4630 January.
DJ Malaysian PM Cash Market Prices for Palm Oil – Oct 21
  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
Nov          1080.00    -05.00      Unquoted   –        –
Dec          1092.50    -05.00      Unquoted   –        –
Jan/Feb/Mar  1105.00    -05.00      Unquoted   –        –
Apr/May/Jun  1097.50    -02.50      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Nov           1085.00    -05.00      Unquoted   –        –
Dec           1097.50    -05.00      Unquoted   –        –
Jan/Feb/Mar   1110.00    -05.00      Unquoted   –        –
Apr/May/Jun   1102.50    -02.50      Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Nov           1070.00    +05.00      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Nov           1040.00    +05.00      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Nov            4,460.00   +20.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Nov            469.00     -02.00      Unquoted   –        –
($1=MYR4.227)
DJ China Dalian Grain Futures Closing Prices, Volume – Oct 21
Soybean No. 1
Turnover: 183,450 lots, or 7.47 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Nov-25     4,066     4,072     4,036     4,038     4,041     4,049         8    28,986    34,679
Jan-26     4,082     4,095     4,058     4,061     4,055     4,073        18   138,709   220,581
Mar-26     4,077     4,088     4,061     4,064     4,055     4,071        16     9,127    43,065
May-26     4,108     4,118     4,097     4,100     4,087     4,104        17     2,968    13,286
Jul-26     4,112     4,115     4,094     4,098     4,083     4,101        18     3,465    14,691
Sep-26     4,122     4,123     4,096     4,100     4,086     4,106        20       195     1,061
Corn
Turnover: 900,262 lots, or 19.38 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Nov-25     2,114     2,128     2,110     2,120     2,118     2,119         1   143,142   209,842
Jan-26     2,138     2,152     2,132     2,144     2,128     2,141        13   597,677   849,415
Mar-26     2,168     2,179     2,161     2,171     2,158     2,170        12    69,467   379,136
May-26     2,250     2,260     2,241     2,249     2,236     2,249        13    53,107   212,929
Jul-26     2,271     2,282     2,265     2,272     2,257     2,273        16    33,859    91,543
Sep-26     2,286     2,298     2,280     2,287     2,271     2,289        18     3,010     4,038
Soymeal
Turnover: 1,074,736 lots, or 30.82 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol        Open
                                                  Settle                                  Interest
Nov-25     2,881     2,895     2,867     2,867     2,874     2,878         4    53,250     146,059
Dec-25     2,905     2,923     2,892     2,893     2,904     2,905         1     9,255     168,078
Jan-26     2,895     2,913     2,888     2,889     2,894     2,897         3   746,759   1,985,599
Mar-26     2,884     2,897     2,876     2,877     2,879     2,885         6    56,744     473,037
May-26     2,735     2,754     2,733     2,743     2,731     2,744        13   176,141   1,029,932
Jul-26     2,721     2,737     2,717     2,727     2,716     2,728        12    18,904     192,337
Aug-26     2,847     2,860     2,844     2,852     2,841     2,853        12     3,728      42,125
Sep-26     2,854     2,866     2,851     2,860     2,847     2,860        13     9,955      79,274
Palm Oil
Turnover: 628,808 lots, or 58.61 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Oct-25         –         –         –     9,120     9,120     9,120         0         0       100
Nov-25     9,224     9,272     9,186     9,206     9,276     9,226       -50     4,662     6,684
Dec-25     9,252     9,334     9,212     9,236     9,310     9,272       -38     3,177     9,760
Jan-26     9,320     9,400     9,264     9,294     9,370     9,322       -48   553,539   333,677
Feb-26     9,342     9,398     9,296     9,310     9,382     9,314       -68       128     1,205
Mar-26     9,348     9,418     9,296     9,316     9,394     9,330       -64       464     1,148
Apr-26     9,304     9,400     9,304     9,378     9,380     9,348       -32        39       361
May-26     9,298     9,372     9,260     9,282     9,328     9,306       -22    65,974   121,359
Jun-26     9,188     9,282     9,176     9,190     9,226     9,232         6        47       144
Jul-26     9,094     9,188     9,094     9,114     9,134     9,146        12        64       215
Aug-26     9,024     9,116     9,024     9,044     9,064     9,050       -14        14        60
Sep-26     8,998     9,068     8,962     9,000     9,022     9,012       -10       700     2,795
Soybean Oil
Turnover: 312,557 lots, or 25.89 billion yuan
            Open      High       Low     Close     Prev.    Settle       Ch.       Vol      Open
                                                  Settle                                Interest
Nov-25     8,274     8,326     8,258     8,262     8,292     8,294         2     3,557    10,462
Dec-25     8,310     8,374     8,310     8,322     8,346     8,348         2       552     8,596
Jan-26     8,298     8,348     8,278     8,294     8,312     8,320         8   249,004   506,908
Mar-26     8,246     8,298     8,234     8,238     8,256     8,276        20       108     1,353
May-26     8,094     8,172     8,084     8,114     8,108     8,134        26    58,788   259,261
Jul-26     8,026     8,092     8,026     8,068     8,044     8,076        32        50       569
Aug-26     8,090     8,090     8,056     8,056     8,036     8,070        34         5        73
Sep-26     8,002     8,062     7,990     8,014     8,012     8,028        16       493     4,821
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.
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)
  (END) Dow Jones Newswires
  03-28-25 0623ET
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